Indosolar Reports Strong Turnaround, Achieving 109.89% Revenue Growth in FY26
Indosolar Limited announced its standalone audited financial results for the year and quarter ended March 31, 2026, highlighting significant year-over-year growth driven by a business turnaround.For the full fiscal year 2026 (FY26), the company recorded a Revenue from Operation of ₹ 679.85 crores, marking a substantial increase of 109.89% year-over-year (YoY). EBITDA reached ₹ 270.75 crores, reflecting an 184.88% YoY growth, while the Profit After Tax (PAT) soared to ₹ 246.60 crores, achieving a 350.16% YoY jump.
The company’s module production capabilities also saw a sharp uplift, with module production standing at 1,051 MW in FY26, compared to 589 MW in FY25.
Financial Performance Summary
The financial data reveals a mixed but strong quarter and a remarkable full-year performance.| Particular | Q4 FY26 (₹ in Crores) | Q4 FY25 (₹ in Crores) | YoY Change | FY26 (₹ in Crores) | FY25 (₹ in Crores) | YoY Change |
|---|---|---|---|---|---|---|
| Revenue from Operation | 83.10 | 192.00 | -56.72% | 679.85 | 323.91 | 109.89% |
| EBITDA | 64.33 | 50.18 | 28.20% | 270.75 | 95.04 | 184.88% |
| EBITDA Margin | 77.41% | 26.14% | 39.82% | 29.34% | ||
| PAT | 42.00 | 40.04 | 4.90% | 246.60 | 54.78 | 350.16% |
| PAT Margin | 49.86% | 20.79% | 36.19% | 16.87% |
In the final quarter of the year (Q4 FY26), the Revenue from Operations stood at ₹ 83.10 crores compared to ₹ 192.00 crores in Q4 FY25. Correspondingly, EBITDA was reported at ₹ 64.33 crores (up 28.20% YoY) and PAT at ₹ 42.00 crores (up 4.90% YoY).
Operational and Management Highlights
During the period, the Board approved the appointment of Mr. Nilesh Bhogilal Gandhi as an additional Director (Non-Executive, Independent Director) and Mr. Abhishek Pareek as Chief Financial Officer and Key Managerial Officer.Commenting on the results, Mr. Jignesh Rathod, Director and Chief Executive Officer, stated that FY26 was a significant year for Indosolar Limited. He noted that the strong performance reflects the "remarkable progress of our business turnaround." Mr. Rathod further attributed the improved margin outcomes to meaningful improvements in cost efficiency, manufacturing, and operations. The company has also invested in upgrading its technology capabilities, including the introduction of G12 solar module manufacturing, to offer higher-efficiency products aligned with current market demand.
Indosolar Limited, which has a capacity of 1.3 GW module manufacturing at its Noida facility, is a subsidiary of Waaree Energies Limited, recognized as India's largest solar module manufacturer.
WAAREEINDO Stock Price Movement
Today, Indosolar Limited shares edged higher, closing at ₹540.85 and recording a gain of 5.00%. The stock saw substantial movement in the latter trading session, with a reported volume of 330,070 shares.Source:
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