Indosolar Ltd.
•₹ 283.9-2.26%
2026-08-21
PROS
- Company is almost debt free
- Company has a good return on equity (ROE) track record: 3 Years ROE 190.4%
- Company has a healthy return on capital (ROCE) of 65.0%
- Company generates healthy free cash flow
- Company converts assets efficiently - asset turnover of 2.4x
CONS
- Receivables are growing faster than sales - a possible quality concern
- Recent results are weak - TTM profit is down 41.4% versus prior year
- Promoter holding has decreased over last 2 years: -21.2pp
- Working capital days have increased from -30 to 109 days
- Effective tax rate is unusually low at -5.3% - earnings may be flattered
- Stock is trading at 5.3x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | SYRMA | 1491.90 | 78.15 | 28768.38 | 0.10 | 105.69 | 111.72 | 1588.62 | 68.29 | 17.70 | 10.17 |
| 2. | KAYNES | 3811.00 | 73.90 | 25546.91 | 0.00 | 56.43 | -24.37 | 946.02 | 40.47 | 14.67 | 15.60 |
| 3. | AVALON | 2240.85 | 112.06 | 14971.51 | 0.00 | 34.87 | 145.31 | 484.41 | 49.83 | 14.12 | 11.96 |
| 4. | UTLSOLAR | 481.20 | 0.00 | 14863.25 | 0.00 | 577.94 | — | 13456.93 | — | 40.63 | 18.94 |
| 5. | VIKRAMSOLR | 170.80 | 17.34 | 6189.01 | 0.00 | 19.78 | -85.17 | 1563.09 | 37.89 | 34.07 | 8.06 |
| 6. | CYIENTDLM | 714.80 | 69.11 | 5674.32 | 0.00 | 16.29 | 118.21 | 373.80 | 34.25 | 10.41 | 9.93 |
| 7. | SAATVIKGL | 399.70 | 20.48 | 5080.39 | 0.00 | 5.36 | -95.49 | 511.01 | -44.20 | 55.18 | 6.62 |
| 8. | CENTUM | 3372.45 | 100.33 | 4978.42 | 0.15 | 10.55 | 135.70 | 204.15 | -22.53 | 26.02 | 11.54 |
| 9. | WEBELSOLAR | 82.79 | 11.86 | 3594.44 | 0.30 | 777.90 | 1511.56 | 3726.00 | 2053.88 | 59.38 | 33.70 |
| 10. | KERNEX | 1870.00 | 16.48 | 3142.28 | 0.00 | 109.85 | 1382.00 | 503.58 | 800.38 | 23.69 | 32.33 |
| 11. | MODINSULAT | 439.60 | 22.01 | 2072.45 | 0.00 | 29.60 | 94.43 | 188.30 | 33.19 | 10.53 | 16.89 |
| 12. | WAAREEINDO | 293.10 | 0.00 | 1219.40 | 0.00 | 36.62 | -68.65 | 68.36 | -64.89 | 125.81 | 70.89 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 28 | 103 | 192 | 195 | 203 | 200 | 83 | 68 | |
| 0 | 0 | 2 | 1 | 1 | 7 | 80 | 142 | 131 | 132 | 129 | 19 | 29 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 1 | 1 | 0 | 0 | 1 | 8 |
| Interest | 1 | 2 | 2 | 3 | 3 | 4 | 5 | 2 | 1 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 8 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| -2 | -3 | -5 | -5 | -5 | 9 | 10 | 40 | 55 | 61 | 62 | 56 | 47 | |
| Tax % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | 0.00% | -0.10% | 0.00% | -111.75% | 24.21% | 32.77% | 25.43% | 22.86% |
| Net Profit | -2 | -3 | -5 | -5 | -5 | 9 | 10 | 40 | 117 | 46 | 41 | 42 | 37 |
| -0 | -1 | -1 | -1 | -1 | 2 | 2 | 10 | 28 | 11 | 10 | 10 | 1 | |
| Equity Capital | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 0
- 0
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 1
- Depreciation
- 1
- -2
- Tax %
- -0.00%
- Net Profit
- -2
- -0
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 0
- 0
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 2
- Depreciation
- 1
- -3
- Tax %
- -0.00%
- Net Profit
- -3
- -1
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 0
- 2
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 2
- Depreciation
- 1
- -5
- Tax %
- -0.00%
- Net Profit
- -5
- -1
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 0
- 1
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 3
- Depreciation
- 1
- -5
- Tax %
- -0.00%
- Net Profit
- -5
- -1
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 0
- 1
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 3
- Depreciation
- 1
- -5
- Tax %
- -0.00%
- Net Profit
- -5
- -1
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 28
- 7
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 4
- Depreciation
- 8
- 9
- Tax %
- 0.00%
- Net Profit
- 9
- 2
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 103
- 80
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 5
- Depreciation
- 9
- 10
- Tax %
- -0.10%
- Net Profit
- 10
- 2
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 192
- 142
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 2
- Depreciation
- 9
- 40
- Tax %
- 0.00%
- Net Profit
- 40
- 10
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 195
- 131
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 1
- Depreciation
- 9
- 55
- Tax %
- -111.75%
- Net Profit
- 117
- 28
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 203
- 132
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 9
- 61
- Tax %
- 24.21%
- Net Profit
- 46
- 11
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 200
- 129
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 9
- 62
- Tax %
- 32.77%
- Net Profit
- 41
- 10
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 83
- 19
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 0
- Depreciation
- 9
- 56
- Tax %
- 25.43%
- Net Profit
- 42
- 10
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 68
- 29
- Operating Profit
- —
- OPM %
- —
- Other Income
- 8
- Interest
- 0
- Depreciation
- 9
- 47
- Tax %
- 22.86%
- Net Profit
- 37
- 1
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 42
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 258 | 442 | 314 | 13 | 0 | 0 | 0 | 0 | 324 | 680 | 554 | |
| 248 | 368 | 336 | 38 | 1 | 8 | 2 | 4 | 229 | 409 | 308 | |
| Operating Profit | 12 | 77 | -17 | -22 | -1 | -8 | -1 | -3 | 96 | 272 | — |
| OPM % | 5 | 18 | -5 | -165 | — | — | — | — | 30 | 40 | — |
| Other Income | 2 | 3 | 4 | 3 | 1 | 0 | 1 | 1 | 1 | 2 | 10 |
| Interest | 126 | 106 | 54 | 51 | 0 | 0 | 1 | 8 | 14 | 1 | 1 |
| Depreciation | 27 | 29 | 28 | 24 | 7 | 7 | 4 | 5 | 27 | 37 | 37 |
| -141 | -58 | -163 | -525 | -8 | -122 | 1,081 | -15 | 55 | 234 | 227 | |
| Tax % | 0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 | -0 | -5 | 27 |
| Net Profit | -141 | -58 | -163 | -525 | -8 | -122 | 1,081 | -15 | 55 | 247 | 166 |
| EPS | 0 | 0 | 0 | -14 | -0 | -3 | 178 | -4 | 13 | 59 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | -4 | -2 | -4 | -14 | -0 | -3 | 260 | -4 | 13 | 59 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | -4 | -2 | -4 | -14 | -0 | -3 | 260 | -4 | 13 | 59 | — |
Mar 2016
- 258
- 248
- Operating Profit
- 12
- OPM %
- 5
- Other Income
- 2
- Interest
- 126
- Depreciation
- 27
- -141
- Tax %
- 0
- Net Profit
- -141
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -4
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -4
Mar 2017
- 442
- 368
- Operating Profit
- 77
- OPM %
- 18
- Other Income
- 3
- Interest
- 106
- Depreciation
- 29
- -58
- Tax %
- -0
- Net Profit
- -58
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -2
Mar 2018
- 314
- 336
- Operating Profit
- -17
- OPM %
- -5
- Other Income
- 4
- Interest
- 54
- Depreciation
- 28
- -163
- Tax %
- -0
- Net Profit
- -163
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -4
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -4
Mar 2019
- 13
- 38
- Operating Profit
- -22
- OPM %
- -165
- Other Income
- 3
- Interest
- 51
- Depreciation
- 24
- -525
- Tax %
- 0
- Net Profit
- -525
- EPS
- -14
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -14
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -14
Mar 2021
- 0
- 1
- Operating Profit
- -1
- OPM %
- —
- Other Income
- 1
- Interest
- 0
- Depreciation
- 7
- -8
- Tax %
- 0
- Net Profit
- -8
- EPS
- -0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
Mar 2022
- 0
- 8
- Operating Profit
- -8
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 7
- -122
- Tax %
- 0
- Net Profit
- -122
- EPS
- -3
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -3
Mar 2023
- 0
- 2
- Operating Profit
- -1
- OPM %
- —
- Other Income
- 1
- Interest
- 1
- Depreciation
- 4
- 1,081
- Tax %
- 0
- Net Profit
- 1,081
- EPS
- 178
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 260
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 260
Mar 2024
- 0
- 4
- Operating Profit
- -3
- OPM %
- —
- Other Income
- 1
- Interest
- 8
- Depreciation
- 5
- -15
- Tax %
- 0
- Net Profit
- -15
- EPS
- -4
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -4
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -4
Mar 2025
- 324
- 229
- Operating Profit
- 96
- OPM %
- 30
- Other Income
- 1
- Interest
- 14
- Depreciation
- 27
- 55
- Tax %
- -0
- Net Profit
- 55
- EPS
- 13
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 13
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 13
Mar 2026
- 680
- 409
- Operating Profit
- 272
- OPM %
- 40
- Other Income
- 2
- Interest
- 1
- Depreciation
- 37
- 234
- Tax %
- -5
- Net Profit
- 247
- EPS
- 59
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 59
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 59
TTM
- 554
- 308
- Operating Profit
- —
- OPM %
- —
- Other Income
- 10
- Interest
- 1
- Depreciation
- 37
- 227
- Tax %
- 27
- Net Profit
- 166
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 9%
- 5 Years:
- —
- 3 Years:
- —
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -39%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -27%
RETURN ON EQUITY
- 10 Years:
- 57%
- 5 Years:
- 114%
- 3 Years:
- 190%
- Last Year:
- 151%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| 358 | 358 | 372 | 372 | 372 | 372 | 42 | 42 | 42 | 42 | |
| -606 | -667 | -829 | -1,354 | -1,370 | -1,492 | -41 | -56 | -1 | 245 | |
| 69 | 538 | 35 | 36 | 823 | 823 | 53 | 0 | 0 | 0 | |
| Trade Payables | 43 | 27 | 62 | 86 | 86 | 86 | 0 | 2 | 83 | 20 |
| 1,238 | 860 | 1,102 | 1,119 | 327 | 327 | 11 | 162 | 117 | 25 | |
| Total Liabilities | 1,102 | 1,116 | 744 | 259 | 238 | 116 | 65 | 150 | 241 | 332 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 445 | 452 | 427 | 154 | 140 | 82 | 48 | 47 | 122 | 91 | |
| Capital Work in Progress | 597 | 563 | 257 | 83 | 83 | 27 | 4 | 94 | 0 | 0 |
| 26 | 37 | 27 | 5 | 5 | 0 | 0 | 0 | 74 | 21 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 210 | |
| Cash & Bank | 1 | 10 | 6 | 5 | 4 | 5 | 4 | 5 | 17 | 6 |
| 33 | 55 | 27 | 11 | 5 | 3 | 9 | 4 | 22 | 5 | |
| Total Assets | 1,102 | 1,116 | 744 | 259 | 238 | 116 | 65 | 150 | 241 | 332 |
| Total Debt | 955 | 933 | 820 | 829 | 828 | 828 | 60 | 99 | 47 | 0 |
| Net Working Capital | -797 | -1,335 | -851 | -1,215 | -1,215 | -1,223 | -48 | -20 | -27 | 203 |
| Contingent Liabilities | 5 | 7 | 20 | 17 | 4 | 4 | 0 | 0 | 0 | 1 |
| Book Value per Share | -6.92 | -8.61 | -12.27 | -26.38 | -26.82 | -30.10 | 0.26 | -3.45 | 9.71 | 68.99 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 955 | 933 | 820 | 829 | 828 | 828 | 60 | 99 | 47 | 0 |
| Net Working Capital | -797 | -1,335 | -851 | -1,215 | -1,215 | -1,223 | -48 | -20 | -27 | 203 |
| Contingent Liabilities | 5 | 7 | 20 | 17 | 4 | 4 | 0 | 0 | 0 | 1 |
| Book Value per Share | -6.92 | -8.61 | -12.27 | -26.38 | -26.82 | -30.10 | 0.26 | -3.45 | 9.71 | 68.99 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2016
- 358
- -606
- 69
- Trade Payables
- 43
- 1,238
- Total Liabilities
- 1,102
- 445
- Capital Work in Progress
- 597
- 26
- 0
- Cash & Bank
- 1
- 33
- Total Assets
- 1,102
- Total Debt
- 955
- Net Working Capital
- -797
- Contingent Liabilities
- 5
- Book Value per Share
- -6.92
- Face Value
- 10.00
- Total Debt
- 955
- Net Working Capital
- -797
- Contingent Liabilities
- 5
- Book Value per Share
- -6.92
- Face Value
- 10.00
Mar 2017
- 358
- -667
- 538
- Trade Payables
- 27
- 860
- Total Liabilities
- 1,116
- 452
- Capital Work in Progress
- 563
- 37
- 0
- Cash & Bank
- 10
- 55
- Total Assets
- 1,116
- Total Debt
- 933
- Net Working Capital
- -1,335
- Contingent Liabilities
- 7
- Book Value per Share
- -8.61
- Face Value
- 10.00
- Total Debt
- 933
- Net Working Capital
- -1,335
- Contingent Liabilities
- 7
- Book Value per Share
- -8.61
- Face Value
- 10.00
Mar 2018
- 372
- -829
- 35
- Trade Payables
- 62
- 1,102
- Total Liabilities
- 744
- 427
- Capital Work in Progress
- 257
- 27
- 0
- Cash & Bank
- 6
- 27
- Total Assets
- 744
- Total Debt
- 820
- Net Working Capital
- -851
- Contingent Liabilities
- 20
- Book Value per Share
- -12.27
- Face Value
- 10.00
- Total Debt
- 820
- Net Working Capital
- -851
- Contingent Liabilities
- 20
- Book Value per Share
- -12.27
- Face Value
- 10.00
Mar 2019
- 372
- -1,354
- 36
- Trade Payables
- 86
- 1,119
- Total Liabilities
- 259
- 154
- Capital Work in Progress
- 83
- 5
- 0
- Cash & Bank
- 5
- 11
- Total Assets
- 259
- Total Debt
- 829
- Net Working Capital
- -1,215
- Contingent Liabilities
- 17
- Book Value per Share
- -26.38
- Face Value
- 10.00
- Total Debt
- 829
- Net Working Capital
- -1,215
- Contingent Liabilities
- 17
- Book Value per Share
- -26.38
- Face Value
- 10.00
Mar 2021
- 372
- -1,370
- 823
- Trade Payables
- 86
- 327
- Total Liabilities
- 238
- 140
- Capital Work in Progress
- 83
- 5
- 0
- Cash & Bank
- 4
- 5
- Total Assets
- 238
- Total Debt
- 828
- Net Working Capital
- -1,215
- Contingent Liabilities
- 4
- Book Value per Share
- -26.82
- Face Value
- 10.00
- Total Debt
- 828
- Net Working Capital
- -1,215
- Contingent Liabilities
- 4
- Book Value per Share
- -26.82
- Face Value
- 10.00
Mar 2022
- 372
- -1,492
- 823
- Trade Payables
- 86
- 327
- Total Liabilities
- 116
- 82
- Capital Work in Progress
- 27
- 0
- 0
- Cash & Bank
- 5
- 3
- Total Assets
- 116
- Total Debt
- 828
- Net Working Capital
- -1,223
- Contingent Liabilities
- 4
- Book Value per Share
- -30.10
- Face Value
- 10.00
- Total Debt
- 828
- Net Working Capital
- -1,223
- Contingent Liabilities
- 4
- Book Value per Share
- -30.10
- Face Value
- 10.00
Mar 2023
- 42
- -41
- 53
- Trade Payables
- 0
- 11
- Total Liabilities
- 65
- 48
- Capital Work in Progress
- 4
- 0
- 0
- Cash & Bank
- 4
- 9
- Total Assets
- 65
- Total Debt
- 60
- Net Working Capital
- -48
- Contingent Liabilities
- 0
- Book Value per Share
- 0.26
- Face Value
- 10.00
- Total Debt
- 60
- Net Working Capital
- -48
- Contingent Liabilities
- 0
- Book Value per Share
- 0.26
- Face Value
- 10.00
Mar 2024
- 42
- -56
- 0
- Trade Payables
- 2
- 162
- Total Liabilities
- 150
- 47
- Capital Work in Progress
- 94
- 0
- 0
- Cash & Bank
- 5
- 4
- Total Assets
- 150
- Total Debt
- 99
- Net Working Capital
- -20
- Contingent Liabilities
- 0
- Book Value per Share
- -3.45
- Face Value
- 10.00
- Total Debt
- 99
- Net Working Capital
- -20
- Contingent Liabilities
- 0
- Book Value per Share
- -3.45
- Face Value
- 10.00
Mar 2025
- 42
- -1
- 0
- Trade Payables
- 83
- 117
- Total Liabilities
- 241
- 122
- Capital Work in Progress
- 0
- 74
- 5
- Cash & Bank
- 17
- 22
- Total Assets
- 241
- Total Debt
- 47
- Net Working Capital
- -27
- Contingent Liabilities
- 0
- Book Value per Share
- 9.71
- Face Value
- 10.00
- Total Debt
- 47
- Net Working Capital
- -27
- Contingent Liabilities
- 0
- Book Value per Share
- 9.71
- Face Value
- 10.00
Mar 2026
- 42
- 245
- 0
- Trade Payables
- 20
- 25
- Total Liabilities
- 332
- 91
- Capital Work in Progress
- 0
- 21
- 210
- Cash & Bank
- 6
- 5
- Total Assets
- 332
- Total Debt
- 0
- Net Working Capital
- 203
- Contingent Liabilities
- 1
- Book Value per Share
- 68.99
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 203
- Contingent Liabilities
- 1
- Book Value per Share
- 68.99
- Face Value
- 10.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 16 | 55 | 29 | 32 | -1 | -0 | -14 | 18 | 85 | 78 | |
| Cash from Investing | -2 | -28 | -8 | -23 | -1 | 0 | -3 | -56 | -20 | -24 |
| Cash from Financing | -24 | -21 | -25 | -12 | -0 | 1 | 18 | 38 | -53 | -66 |
| -9 | 6 | -4 | -2 | -2 | 0 | 1 | 0 | 12 | -12 | |
| Free Cash Flow | -8 | 55 | 29 | 32 | -1 | -0 | -14 | -75 | 77 | 73 |
| OCF / Net Profit | -0.11 | -0.94 | -0.18 | -0.06 | 0.08 | 0.00 | -0.01 | -1.19 | 1.55 | 0.32 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 108 | 115 | 46 | -58 | -14 | 59 |
| OCF / Net Profit | -0.11 | -0.94 | -0.18 | -0.06 | 0.08 | 0.00 | -0.01 | -1.19 | 1.55 | 0.32 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 108 | 115 | 46 | -58 | -14 | 59 |
Mar 2016
- 16
- Cash from Investing
- -2
- Cash from Financing
- -24
- -9
- Free Cash Flow
- -8
- OCF / Net Profit
- -0.11
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.11
- Cumulative 5-Year FCF
- 0
Mar 2017
- 55
- Cash from Investing
- -28
- Cash from Financing
- -21
- 6
- Free Cash Flow
- 55
- OCF / Net Profit
- -0.94
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.94
- Cumulative 5-Year FCF
- 0
Mar 2018
- 29
- Cash from Investing
- -8
- Cash from Financing
- -25
- -4
- Free Cash Flow
- 29
- OCF / Net Profit
- -0.18
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.18
- Cumulative 5-Year FCF
- 0
Mar 2019
- 32
- Cash from Investing
- -23
- Cash from Financing
- -12
- -2
- Free Cash Flow
- 32
- OCF / Net Profit
- -0.06
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.06
- Cumulative 5-Year FCF
- 0
Mar 2021
- -1
- Cash from Investing
- -1
- Cash from Financing
- -0
- -2
- Free Cash Flow
- -1
- OCF / Net Profit
- 0.08
- Cumulative 5-Year FCF
- 108
- OCF / Net Profit
- 0.08
- Cumulative 5-Year FCF
- 108
Mar 2022
- -0
- Cash from Investing
- 0
- Cash from Financing
- 1
- 0
- Free Cash Flow
- -0
- OCF / Net Profit
- 0.00
- Cumulative 5-Year FCF
- 115
- OCF / Net Profit
- 0.00
- Cumulative 5-Year FCF
- 115
Mar 2023
- -14
- Cash from Investing
- -3
- Cash from Financing
- 18
- 1
- Free Cash Flow
- -14
- OCF / Net Profit
- -0.01
- Cumulative 5-Year FCF
- 46
- OCF / Net Profit
- -0.01
- Cumulative 5-Year FCF
- 46
Mar 2024
- 18
- Cash from Investing
- -56
- Cash from Financing
- 38
- 0
- Free Cash Flow
- -75
- OCF / Net Profit
- -1.19
- Cumulative 5-Year FCF
- -58
- OCF / Net Profit
- -1.19
- Cumulative 5-Year FCF
- -58
Mar 2025
- 85
- Cash from Investing
- -20
- Cash from Financing
- -53
- 12
- Free Cash Flow
- 77
- OCF / Net Profit
- 1.55
- Cumulative 5-Year FCF
- -14
- OCF / Net Profit
- 1.55
- Cumulative 5-Year FCF
- -14
Mar 2026
- 78
- Cash from Investing
- -24
- Cash from Financing
- -66
- -12
- Free Cash Flow
- 73
- OCF / Net Profit
- 0.32
- Cumulative 5-Year FCF
- 59
- OCF / Net Profit
- 0.32
- Cumulative 5-Year FCF
- 59
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | -3.94 | -1.62 | -4.38 | -14.11 | -0.21 | -3.29 | 259.87 | -3.71 | 13.17 | 59.27 |
| Book Value (₹) | -6.92 | -8.61 | -12.27 | -26.38 | -26.82 | -30.10 | 0.26 | -3.45 | 9.71 | 68.99 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | -3.20 | -0.80 | -3.62 | -13.46 | -0.02 | -3.10 | 260.90 | -2.61 | 19.74 | 68.10 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 4.56% | 17.52% | -5.44% | -164.51% | 0.00% | 0.00% | 0.00% | 0.00% | 29.34% | 39.82% |
| Net Margin % | -54.82% | -13.10% | -51.84% | -3970.27% | 0.00% | 0.00% | 0.00% | 0.00% | 16.91% | 36.27% |
| ROE % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 420.64% | 150.63% |
| ROCE % | -1.86% | 7.16% | -21.92% | -450.39% | 0.00% | 0.00% | 0.00% | -10.52% | 79.70% | 125.81% |
| -12.69% | -5.22% | -17.51% | -104.73% | -3.20% | -69.17% | 1192.30% | -14.34% | 28.03% | 86.10% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 4 | 6 | 8 | 42 | 0 | 0 | 0 | 0 | 5 | 58 |
| Inventory Days | 34 | 26 | 37 | 442 | 0 | 0 | 0 | 0 | 42 | 26 |
| Payable Days | 52 | 43 | 59 | 1544 | 0 | 0 | 0 | 0 | 79 | 52 |
| -14 | -11 | -14 | -1060 | 0 | 0 | 0 | 0 | -32 | 31 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | -4.01x | -3.12x | -1.80x | -0.84x | -0.83x | -0.74x | 56.05x | -6.89x | 1.16x | 0.00x |
| Interest Coverage (x) | -0.12x | 0.46x | -2.04x | -9.31x | -5299.07x | 0.00x | 981.33x | -0.99x | 4.98x | 185.56x |
| 0.06x | 0.05x | 0.05x | 0.02x | 0.01x | 0.01x | 0.12x | 0.29x | 0.81x | 6.70x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | -12.94% | 71.65% | -28.98% | -95.79% | -100.00% | 0.00% | 0.00% | 0.00% | 0.00% | 109.89% |
| Operating Profit Growth % | -77.26% | 559.78% | -122.04% | -27.39% | 96.32% | -865.75% | 88.86% | -258.90% | 3200.44% | 183.95% |
| Net Profit Growth % | -80.72% | 58.99% | -181.09% | -222.42% | 98.49% | -1438.57% | 983.90% | -101.43% | 454.72% | 350.15% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -101.43% | 454.72% | 350.15% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 6.18x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 5.31x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | -43.81x | 0.75x | 5.57x |
Mar 2016
- EPS (₹)
- -3.94
- Book Value (₹)
- -6.92
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -3.20
- Operating Margin %
- 4.56%
- Net Margin %
- -54.82%
- ROE %
- 0.00%
- ROCE %
- -1.86%
- -12.69%
- Debtor Days
- 4
- Inventory Days
- 34
- Payable Days
- 52
- -14
- Debt to Equity (x)
- -4.01x
- Interest Coverage (x)
- -0.12x
- 0.06x
- Revenue Growth %
- -12.94%
- Operating Profit Growth %
- -77.26%
- Net Profit Growth %
- -80.72%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2017
- EPS (₹)
- -1.62
- Book Value (₹)
- -8.61
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -0.80
- Operating Margin %
- 17.52%
- Net Margin %
- -13.10%
- ROE %
- 0.00%
- ROCE %
- 7.16%
- -5.22%
- Debtor Days
- 6
- Inventory Days
- 26
- Payable Days
- 43
- -11
- Debt to Equity (x)
- -3.12x
- Interest Coverage (x)
- 0.46x
- 0.05x
- Revenue Growth %
- 71.65%
- Operating Profit Growth %
- 559.78%
- Net Profit Growth %
- 58.99%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- -4.38
- Book Value (₹)
- -12.27
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -3.62
- Operating Margin %
- -5.44%
- Net Margin %
- -51.84%
- ROE %
- 0.00%
- ROCE %
- -21.92%
- -17.51%
- Debtor Days
- 8
- Inventory Days
- 37
- Payable Days
- 59
- -14
- Debt to Equity (x)
- -1.80x
- Interest Coverage (x)
- -2.04x
- 0.05x
- Revenue Growth %
- -28.98%
- Operating Profit Growth %
- -122.04%
- Net Profit Growth %
- -181.09%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- -14.11
- Book Value (₹)
- -26.38
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -13.46
- Operating Margin %
- -164.51%
- Net Margin %
- -3970.27%
- ROE %
- 0.00%
- ROCE %
- -450.39%
- -104.73%
- Debtor Days
- 42
- Inventory Days
- 442
- Payable Days
- 1544
- -1060
- Debt to Equity (x)
- -0.84x
- Interest Coverage (x)
- -9.31x
- 0.02x
- Revenue Growth %
- -95.79%
- Operating Profit Growth %
- -27.39%
- Net Profit Growth %
- -222.42%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- -0.21
- Book Value (₹)
- -26.82
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -0.02
- Operating Margin %
- 0.00%
- Net Margin %
- 0.00%
- ROE %
- 0.00%
- ROCE %
- 0.00%
- -3.20%
- Debtor Days
- 0
- Inventory Days
- 0
- Payable Days
- 0
- 0
- Debt to Equity (x)
- -0.83x
- Interest Coverage (x)
- -5299.07x
- 0.01x
- Revenue Growth %
- -100.00%
- Operating Profit Growth %
- 96.32%
- Net Profit Growth %
- 98.49%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- -3.29
- Book Value (₹)
- -30.10
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -3.10
- Operating Margin %
- 0.00%
- Net Margin %
- 0.00%
- ROE %
- 0.00%
- ROCE %
- 0.00%
- -69.17%
- Debtor Days
- 0
- Inventory Days
- 0
- Payable Days
- 0
- 0
- Debt to Equity (x)
- -0.74x
- Interest Coverage (x)
- 0.00x
- 0.01x
- Revenue Growth %
- 0.00%
- Operating Profit Growth %
- -865.75%
- Net Profit Growth %
- -1438.57%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 259.87
- Book Value (₹)
- 0.26
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 260.90
- Operating Margin %
- 0.00%
- Net Margin %
- 0.00%
- ROE %
- 0.00%
- ROCE %
- 0.00%
- 1192.30%
- Debtor Days
- 0
- Inventory Days
- 0
- Payable Days
- 0
- 0
- Debt to Equity (x)
- 56.05x
- Interest Coverage (x)
- 981.33x
- 0.12x
- Revenue Growth %
- 0.00%
- Operating Profit Growth %
- 88.86%
- Net Profit Growth %
- 983.90%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- -3.71
- Book Value (₹)
- -3.45
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -2.61
- Operating Margin %
- 0.00%
- Net Margin %
- 0.00%
- ROE %
- 0.00%
- ROCE %
- -10.52%
- -14.34%
- Debtor Days
- 0
- Inventory Days
- 0
- Payable Days
- 0
- 0
- Debt to Equity (x)
- -6.89x
- Interest Coverage (x)
- -0.99x
- 0.29x
- Revenue Growth %
- 0.00%
- Operating Profit Growth %
- -258.90%
- Net Profit Growth %
- -101.43%
- -101.43%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- -43.81x
Mar 2025
- EPS (₹)
- 13.17
- Book Value (₹)
- 9.71
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 19.74
- Operating Margin %
- 29.34%
- Net Margin %
- 16.91%
- ROE %
- 420.64%
- ROCE %
- 79.70%
- 28.03%
- Debtor Days
- 5
- Inventory Days
- 42
- Payable Days
- 79
- -32
- Debt to Equity (x)
- 1.16x
- Interest Coverage (x)
- 4.98x
- 0.81x
- Revenue Growth %
- 0.00%
- Operating Profit Growth %
- 3200.44%
- Net Profit Growth %
- 454.72%
- 454.72%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.75x
Mar 2026
- EPS (₹)
- 59.27
- Book Value (₹)
- 68.99
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 68.10
- Operating Margin %
- 39.82%
- Net Margin %
- 36.27%
- ROE %
- 150.63%
- ROCE %
- 125.81%
- 86.10%
- Debtor Days
- 58
- Inventory Days
- 26
- Payable Days
- 52
- 31
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 185.56x
- 6.70x
- Revenue Growth %
- 109.89%
- Operating Profit Growth %
- 183.95%
- Net Profit Growth %
- 350.15%
- 350.15%
- P/E (x)
- 6.18x
- P/B (x)
- 5.31x
- Dividend Yield %
- 0.00%
- 5.57x
Documents
Announcements
- Copy of Newspaper Publication
2026-08-08 - Indosolar Limited has informed the Exchange about Copy of Newspaper Publication
- Shareholders meeting
2026-08-07 - Indosolar Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 31, 2026
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Nothing filed yet.