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Indosolar

WAAREEINDO NSE
₹193.43 up 5.03 (2.67%)
Market Cap
₹805 Cr
P/E
4.83

Indosolar (WAAREEINDO) share price was ₹188.40 at the 28 Oct 2026 close; market capitalisation ₹784 Cr; P/E (TTM) 4.71; sector Industrials. The share price fell 69.1% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue fell 64.9% year on year to ₹68.4 Cr and net profit fell 68.7% year on year to ₹36.6 Cr (compared with Jun 2025). Promoters held 74.93% of Indosolar in Sep 2026, unchanged from Jun 2026. Its Tapetide Score is 59/100 (Good) as of 28 Oct 2026.

Close 28 Oct 2026 ₹188.40 −391.35 −67.50% 1Y

Key Fundamentals

MicrocapElectrical EquipmentCapital Goods
Market Cap
₹805 Cr
P/E (TTM)
4.83
EBITDA
₹272 Cr
Return on Equity
85.92%
Return on Capital Employed
76.27%
Debt to Equity
0.01
Book Value
₹78.99
EPS (TTM)
₹40.01
52W High
₹598.90
52W Low
₹179.28

Price-based figures as of 29 Oct 2026, 11:34 IST · EPS basis: Standalone · TTM

Peer Comparison

Industrials › Electrical Equipment › Heavy Electrical Equipment

Bharat Heavy Electricals
₹404.1048.861,40,710 Cr5.260.35%6.12%6.60%38,773 Cr2,878 Cr
ABB
₹6,487.0046.011,37,465 Cr14.721.37%21.30%28.46%15,138 Cr2,988 Cr
CG Power & Industrial Solutions
₹831.4595.131,30,991 Cr14.990.16%14.60%19.34%14,020 Cr1,364 Cr
Hitachi Energy
₹28,150.00109.071,25,471 Cr24.240.03%19.09%24.92%9,446 Cr1,149 Cr
Siemens
₹3,343.2036.351,19,058 Cr8.600.54%16.48%20.33%20,020 Cr3,276 Cr
GE Vernova T&D
₹4,102.0080.461,05,030 Cr39.040.25%45.84%58.45%6,835 Cr1,305 Cr
Siemens Energy
₹2,824.2067.581,00,576 Cr20.900.14%25.11%29.23%9,626 Cr1,489 Cr
Indosolar (this company)
₹193.434.83805 Cr2.450.00%85.92%76.27%518 Cr166 Cr
Median 8 companies₹3,083.7058.221,22,265 Cr14.860.21%20.20%26.69%11,823 Cr1,427 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

59 Good
Overall score

Data confidence 98/100

Category scores

Quality Strong 80
Returns, margins, earnings quality 22% weight
Valuation Strong 73
Cheap vs sector & own history 24% weight
Growth Poor 33
Sales & profit trajectory 9% weight
Financial Health Strong 91
Solvency, leverage, coverage 9% weight
Momentum Poor 10
Trend strength, vol-adjusted 12% weight
Ownership Average 55
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

4
  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 101% CAGR over last 5 years

Weaknesses

3
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Debtor days have increased from 58.9 to 113 days.
  • Working capital days have increased from 28.1 days to 106 days

Technical Indicators

Oscillators

Bullish

Bearish
1
Neutral
4
Bullish
4

Overall

Bearish

Bearish
11
Neutral
4
Bullish
4

Moving Averages

Bearish

Bearish
10
Neutral
0
Bullish
0

Growth Rate

Revenue Growth
110% lower than 3Y

change over 1 year

Net Income Growth
350% higher than 3Y

change over 1 year

Cash Flow Change
-7.85%

change over 1 year

EBITDA Margin Change
35.32%

change over 1 year Operating margin 71% · Jun 2026

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
0
0
0
0
0
28
103
192
195
203
200
83
68
Expenses
0
0
2
1
1
7
80
142
131
132
129
19
20
Operating Profit
0
0
-2
-1
-1
22
23
50
64
71
71
64
48
OPM %
—
—
—
—
—
77%
23%
26%
33%
35%
36%
77%
71%
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
PBT
-2
-3
-5
-5
-5
9
10
40
55
61
62
56
47
Tax %
0%
0%
0%
0%
0%
0%
0%
0%
-112%
24%
33%
25%
23%
Net Profit
-2
-3
-5
-5
-5
9
10
40
117
46
41
42
37
EPS (₹)
-0.57
-0.77
-1.21
-1.16
-1.2
2.28
2.46
9.62
28.07
11.14
9.97
10.1
8.8
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
296
258
442
314
13
0
0
0
0
0
324
680
554
Expenses
248
248
368
336
38
2
1
8
2
1
229
409
299
Operating Profit
48
10
75
-21
-25
-2
-1
-8
-2
-1
95
271
255
OPM %
16%
3.8%
17%
-7%
-186%
—
—
-4068%
—
—
29%
40%
46%
Other Income
4
2
3
-60
-425
1
1
-107
1,089
-2
1
2
10
Interest
103
126
106
54
51
0
0
0
1
8
14
1
1
Depreciation
27
27
29
28
24
7
7
7
4
5
27
37
37
PBT
-78
-141
-58
-163
-525
-8
-8
-122
1,081
-15
55
234
227
Tax %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
-5%
—
Net Profit
-78
-141
-58
-163
-525
-8
-8
-122
1,081
-15
55
247
166
EPS (₹)
-2.18
-3.94
-1.62
-4.38
-14.11
-0.22
-0.21
-3.29
260
-3.71
13.17
59.27
40.01
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
358
358
358
372
372
372
372
372
42
42
42
42
Reserves
-465
-606
-667
-829
-1,354
-1,362
-1,370
-1,492
-41
-56
-1
245
Borrowings
987
965
942
820
829
41
829
829
60
102
50
3
Other Liabilities
244
385
483
380
412
1,200
407
408
4
63
150
54
Total Liabilities
1,125
1,102
1,116
744
259
252
238
116
65
150
241
344
Fixed Assets
470
445
452
427
154
147
140
82
48
47
122
91
CWIP
574
597
563
257
83
83
83
27
4
94
0
0
Investments
0
0
0
0
0
0
0
0
0
0
0
0
Other Assets
81
60
101
60
21
21
14
7
13
9
118
253
Total Assets
1,125
1,102
1,116
744
259
252
238
116
65
150
241
344
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
79
16
55
29
32
-1
-1
0
-14
18
85
78
Investing
-61
-2
-28
-8
-23
2
-1
0
-3
-56
-20
-24
Financing
-10
-24
-21
-25
-12
0
0
1
18
38
-53
-66
Net Cash Flow
8
-9
6
-4
-2
1
-2
0
1
0
12
-12
Free Cash Flow
1
-1
32
17
9
0
-1
0
-14
-38
65
53
CFO/OP
165
168
73
-137
-132
28
41
5
721
-1,255
90
29
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
2
5
9
3
4
—
—
—
—
—
5
113
Inventory Days
41
50
45
35
112
—
—
—
—
—
138
21
Days Payable
21
82
34
82
1,787
—
—
—
—
—
153
20
Cash Conversion Cycle
22
-27
21
-43
-1,671
—
—
—
—
—
-10
114
Working Capital Days
-714
-1,130
-1,110
-996
-33,663
—
—
—
—
—
-50
106
ROCE %
3%
-2%
7%
-9%
-44%
—
—
—
—
-7%
77%
124%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Indosolar insights

61 extracted metrics + investor summaries across FY10–FY27.

Shareholding Pattern

DIIs0.06%Promot.74.93%FIIs0.61%Others7.64%Public16.76%As ofSep 2026

Documents

Frequently Asked Questions about Indosolar

What does Indosolar Ltd do?
Incorporated in 2005, Indosolar Ltd manufactures PV solar modules.[1]
Where is Indosolar Ltd (WAAREEINDO) listed?
Indosolar Ltd trades as WAAREEINDO on the NSE and under code 533257 on the BSE.
Which sector does Indosolar Ltd belong to?
Indosolar Ltd is classified under the Industrials sector, in the Electrical Equipment industry.
What is the market capitalisation of Indosolar Ltd?
Indosolar Ltd has a market capitalisation of ₹804.74 Cr as of 29 Oct 2026, which places it in the Small Cap band.
What is the PE ratio of Indosolar Ltd?
Indosolar Ltd trades at a PE ratio of 4.83 as of 29 Oct 2026, on earnings per share of ₹40.01, against a book value of ₹78.99 per share.
What is the 52-week high and low of Indosolar Ltd?
Over the last 52 weeks Indosolar Ltd has traded between ₹179.28 and ₹598.9 as of 29 Oct 2026.
What is the Return on Equity (ROE) of Indosolar Ltd?
Indosolar Ltd reported a return on equity of 85.92%. Its debt-to-equity ratio is 0.01.

Company Information

Incorporated in 2005, Indosolar Ltd manufactures PV solar modules.[1]

Website indosolar.co.in
CEO Mr. Hitesh Chimanlal Doshi
Employees 66
Listed 2010-09-29
Face Value ₹ 10
Shares Outstanding 4,16,03,691

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