Indosolar Limited announced the outcome of its Board of Directors meeting held on October 21, 2026, which commenced at 16:30 IST and concluded at 17:30 IST. The primary business transacted was the approval of the company's standalone unaudited financial results for the quarter and half year ended September 30, 2026.

Financial Results Overview

The financial results, prepared in accordance with Indian Accounting Standards (Ind AS) and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, show significant performance changes.

Quarter Ended September 30, 2026 (Q2 FY27):

  • Total Income: ₹1,571.67 lakh (₹15,716.68 lakh)
  • Revenue from Operations: ₹1,555.86 lakh (₹15,558.63 lakh comprised of Sale of Goods: ₹1,527.71 lakh (₹15,277.09 lakh) and Sale of Services: ₹28.15 lakh (₹281.54 lakh))
  • Other Income: ₹15.81 lakh (₹158.05 lakh)
  • Total Expenses: ₹1,504.57 lakh (₹15,045.66 lakh)
  • Profit Before Tax: ₹67.10 lakh (₹671.02 lakh)
  • Tax Expense: ₹16.92 lakh (₹169.17 lakh for Deferred Tax)
  • Profit After Tax: ₹50.19 lakh (₹501.85 lakh)
  • Total Comprehensive Income: ₹49.82 lakh (₹498.18 lakh)
  • Basic & Diluted EPS: ₹1.20

Half Year Ended September 30, 2026 (H1 FY27):

  • Total Income: ₹2,339.15 lakh (₹23,391.52 lakh)
  • Profit Before Tax: ₹541.80 lakh (₹5,418.04 lakh)
  • Tax Expense: ₹125.43 lakh (₹1,254.26 lakh for Deferred Tax)
  • Profit After Tax: ₹416.38 lakh (₹4,163.78 lakh)
  • Total Comprehensive Income: ₹416.01 lakh (₹4,160.11 lakh)
  • Basic & Diluted EPS: ₹10.00

Comparative Performance:

  • Q2 FY27 Profit After Tax decreased significantly from ₹463.38 lakh (₹4,633.76 lakh) in Q2 FY25 and ₹366.19 lakh (₹3,661.93 lakh) in Q1 FY26.
  • H1 FY27 Profit After Tax decreased from ₹1,631.30 lakh (₹16,313.02 lakh) in H1 FY25.

Balance Sheet Highlights (as at September 30, 2026)

  • Total Assets: ₹4,829.58 lakh (₹48,295.78 lakh), increased from ₹3,444.03 lakh (₹34,440.30 lakh) as at March 31, 2026.
  • Current Assets: ₹4,028.13 lakh (₹40,281.28 lakh), including Inventories: ₹2,219.73 lakh (₹22,197.26 lakh) and Cash & Cash Equivalents: ₹811.55 lakh (₹8,115.51 lakh).
  • Total Equity: ₹3,286.09 lakh (₹32,860.89 lakh), increased from ₹2,870.08 lakh (₹28,700.78 lakh) as at March 31, 2026.
  • Paid-up Equity Share Capital: ₹416.04 lakh (₹4,160.37 lakh) (Face Value ₹10 each).

Cash Flow Statement (H1 FY27)

  • Net Cash Generated from Operating Activities: ₹795.67 lakh (₹7,956.70 lakh)
  • Net Cash Generated from Investing Activities: ₹4.94 lakh (₹49.40 lakh)
  • Net Increase in Cash and Cash Equivalents: ₹800.61 lakh (₹8,006.10 lakh)

Significant Corporate Development

The Board of Directors, at its meeting held on September 23, 2026, approved the draft Scheme of Amalgamation under Sections 230 to 232 of the Companies Act, 2013, for the amalgamation of Indosolar Limited (Transferor Company) with Waaree Energies Limited (Transferee Company). Upon the Scheme becoming effective, Indosolar Limited shall stand dissolved without being wound up.

Other Disclosures

  • The company has only one reportable segment: "Manufacturing & Trading of Solar Photovoltaic Modules".
  • The company does not have any subsidiaries/associates/joint ventures.
  • The financial results were reviewed by the Audit Committee and approved by the Board.
  • A limited review was performed by SGCO & Co. LLP, Chartered Accountants, who issued an unmodified review conclusion.
  • The results will be published in newspapers in compliance with Regulation 47 of SEBI LODR.