Financial Performance Highlights

Quarterly Comparison (₹ in Crores)

| Particular | Q1 FY27 | Q1 FY26 | YoY Change |

| Revenue from Operation | 68.36 | 194.68 | -64.89% |

| EBITDA | 48.46 | 63.57 | -23.77% |

| EBITDA Margin | 70.89% | 32.65% | 117.11% improvement |

| PAT | 36.62 | 116.79 | -68.65% |

| PAT Margin | 47.71% | 59.59% | |

Operational Metrics

  • Module Production: 224 MW in Q1 FY27 compared to 244 MW in Q1 FY26
  • Module Sales: 218 MW in Q1 FY27 compared to 231 MW in Q1 FY26

Key Performance Factors

The substantial decline in revenue (64.89% YoY) is attributed to a shift from direct distribution and trading revenue during Q1 FY26 to substantial revenue from tolling contract in Q1 FY27.

Despite the revenue decline, the company achieved significant EBITDA margin improvement of 117.11% compared to Q1 FY26, reaching 70.89% margin.

Management Commentary

Mr. Jignesh Rathod, Director and Chief Executive Officer, commented that the company's focus on operational efficiency and manufacturing excellence has driven improved EBITDA margins. He stated that during the industry policy transition, their disciplined execution, operational agility, and manufacturing capabilities enabled effective navigation of the evolving environment.

The company highlighted its advanced solar module manufacturing capabilities allowing it to offer high-efficiency products, strengthen competitive advantage, and improve ability to address evolving customer and market requirements.

Corporate Background

Indosolar Limited has a capacity of 1.3 GW module manufacturing through its facility situated at Noida. The company is a subsidiary of Waaree Energies Limited, India's largest solar module manufacturer.

Safe Harbour Statement

The document includes forward-looking statements subject to risks and uncertainties including fluctuations in earnings, ability to manage growth, competition, ability to manage international operations, government policies, and regulations. The company does not undertake any obligation to revise or update any forward-looking statements.