Indosolar Limited (INDOSOLAR) AI Stock Analysis

• Market Cap: ₹24.12B
• Dividend Yield: N/A
• Average Volume (3M): 18.54K
• Price to Earnings (P/E): 11.3
• Beta (1Y): -0.16
• Revenue Growth: 2412.32%
• EPS Growth: N/A
• Country: IN
• Employees: N/A
• Sector: Energy
• Sector Strength: 52
• Industry: Solar
• EPS (TTM): 11.14
• Shares Outstanding: 41,603,690
• 10 Day Avg. Volume: 55,306
• 30 Day Avg. Volume: 18,535
• PEG Ratio: -0.06
• Price to Book (P/B): 33.97
• Price to Sales (P/S): 4.24
• P/FCF Ratio: 21.29
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: ₹551.00 ▲(0.04% Upside)

Indosolar's overall stock score is primarily influenced by its financial performance and technical analysis. The company's revenue growth and improved cash flows are positive, but high leverage and inconsistent profitability pose significant risks. Technical indicators suggest mixed market sentiment, while valuation appears reasonable.

Indosolar Limited Business Overview & Revenue Model

Company Description

Indosolar Limited (INDOSOLAR) is a leading manufacturer of solar photovoltaic (PV) modules in India, specializing in the production of high-efficiency solar panels for both domestic and international markets. The company operates within the renewable energy sector, focusing on sustainable and green energy solutions. Its core products include a range of solar modules designed for various applications, catering to the growing demand for clean energy solutions amid increasing environmental concerns.

How the Company Makes Money

Indosolar generates revenue primarily through the sale of solar photovoltaic modules to various sectors, including residential, commercial, and industrial markets. The company benefits from government incentives and subsidies aimed at promoting renewable energy usage, which enhances its sales potential. Key revenue streams include direct sales to distributors and solar project developers, as well as long-term contracts with large-scale solar power projects. Furthermore, strategic partnerships with other renewable energy firms and participation in government-backed solar initiatives contribute significantly to its earnings. The company's ability to innovate and improve manufacturing efficiency also plays a crucial role in maintaining competitive pricing and profitability.

Indosolar Limited Financial Statement Overview

Summary

Indosolar Limited shows revenue growth and improved cash flows, but faces challenges with profitability and high leverage. Recent financial results indicate potential recovery, yet historical instability and solvency risks remain significant concerns.

Income Statement

Indosolar Limited has shown significant revenue growth over the years, particularly from 2024 to 2025. The gross profit margin is positive, indicating some level of profitability in operations. However, the net profit margin has fluctuated widely, with a substantial net income in 2023 followed by losses in other years. This inconsistency in earnings reflects volatility in profitability, impacting the overall income statement score.

Balance Sheet

The company's balance sheet reveals high leverage, with a substantial debt-to-equity ratio in previous years. Although there has been improvement in equity over time, the company's financial position remains precarious. Total liabilities have historically exceeded assets, indicating solvency risks, but recent improvements in equity suggest a potential turnaround.

Cash Flow

Cash flow analysis shows positive trends in operating cash flows in recent years, with free cash flow also turning positive, indicating better cash management. However, the volatility in free cash flow growth highlights potential operational challenges. The improvement from significant negative free cash flow in earlier years to positive values in 2025 is notable.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.24B	3.24B	8.50M	11.31M	1.91M	6.53M
Gross Profit	1.07B	1.07B	8.50M	11.31M	1.91M	6.53M
EBITDA	958.84M	958.84M	-6.10M	-8.62M	-77.34M	-8.01M
Net Income	547.82M	547.82M	-154.44M	10.81B	-1.22B	-79.50M
Balance Sheet
Total Assets	2.41B	2.41B	1.50B	653.26M	1.16B	2.44B
Cash, Cash Equivalents and Short-Term Investments	172.79M	172.79M	50.42M	51.48M	54.22M	51.55M
Total Debt	500.40M	500.40M	1.02B	630.49M	8.29B	413.40M
Total Liabilities	2.00B	2.00B	1.64B	642.50M	12.36B	12.42B
Stockholders Equity	404.15M	404.15M	-143.68M	10.76M	-11.20B	-9.98B
Cash Flow
Free Cash Flow	0.00	644.76M	-417.32M	-181.06M	-4.85M	-6.20M
Operating Cash Flow	0.00	850.54M	183.08M	-143.58M	-4.85M	-6.02M
Investing Cash Flow	0.00	-197.20M	-560.90M	-27.30M	1.52M	-10.91M
Financing Cash Flow	0.00	-532.30M	378.51M	176.99M	5.68M	-15.00K

Indosolar Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 550.80
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDOSOLAR, the sentiment is Neutral. The current price of 550.8 is below the 20-day moving average (MA) of 629.15, below the 50-day MA of 553.99, and above the 200-day MA of 371.63, indicating a neutral trend. The MACD of 0.99 indicates Positive momentum. The RSI at 33.34 is Neutral, neither overbought nor oversold. The STOCH value of >-0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:INDOSOLAR.

Indosolar Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
WEBELSOLAR	65 Neutral	₹51.08B	25.12	―	―	152.12%	―
INOXGREEN	62 Neutral	₹99.08B	259.84	―	―	14.36%	3.96%
BORORENEW	56 Neutral	₹89.97B	―	―	―	4.94%	-328.07%
INDOSOLAR	50 Neutral	₹24.12B	11.30	―	―	2412.32%	―
SWSOLAR	45 Neutral	₹54.81B	-14.77	―	―	112.24%	-474.43%