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Indosolar Limited
(WAAREEINDO)
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Rating:67Neutral
Price Target:
₹296.00
▼(-39.28% Downside)
Action:Reiterated
Date:09/06/26
Overall score reflects strong recent financial performance and a low P/E that supports valuation, offset by a pronounced bearish technical setup (below major moving averages with negative MACD) and a historically volatile/uneven financial track record that elevates sustainability risk.
Positive Factors
Strong Revenue Growth
Double‑digit, high single‑year revenue growth indicates the company is winning demand in the PV value chain. Sustained top‑line expansion supports scale economies, better utilization, and long‑term bargaining power with suppliers and customers over the next several months.
Negative Factors
High Historical Leverage
Historically elevated debt and periods where liabilities exceeded assets create ongoing solvency and refinancing risk. High leverage can constrain capital allocation, increase interest burden, and limit ability to invest or withstand demand shocks over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Double‑digit, high single‑year revenue growth indicates the company is winning demand in the PV value chain. Sustained top‑line expansion supports scale economies, better utilization, and long‑term bargaining power with suppliers and customers over the next several months.
Read all positive factors
Indosolar Limited (WAAREEINDO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹10.74B
Dividend YieldN/A
Average Volume (3M)9.89K
Price to Earnings (P/E)6.7
Beta (1Y)0.62
Revenue Growth7.02%
EPS Growth-5.74%
CountryIN
Employees66
SectorGeneral
Sector StrengthN/A
IndustrySolar
Share Statistics
EPS (TTM)40.00
Shares Outstanding41,603,690
10 Day Avg. Volume10,958
30 Day Avg. Volume9,886
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)5.57
Price to Sales (P/S)2.35
P/FCF Ratio29.90
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Indosolar Limited Business Overview & Revenue Model
Company Description
Established in 2005 and based in New Delhi, India, Indosolar Limited focuses on the manufacture and global sale of solar photovoltaic modules. Its extensive market presence covers India, Europe, the United States, the Middle East, and Asia. The co...
How the Company Makes Money
Indosolar Limited makes money primarily through sales of solar PV products (e.g., PV modules and/or PV cells) to customers in the solar power ecosystem such as EPC contractors, project developers, and other industrial buyers, where revenue is reco...
Indosolar Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
66
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.54B | 6.80B | 3.24B | 8.50M | 11.31M | 1.91M |
| Gross Profit | 2.74B | 2.90B | 1.07B | 8.50M | 11.31M | 1.91M |
| EBITDA | 2.64B | 2.72B | 958.84M | -6.10M | -8.62M | -77.34M |
| Net Income | 1.66B | 2.47B | 547.82M | -154.44M | 10.81B | -1.22B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 3.44B | 2.41B | 1.50B | 653.26M | 1.16B |
| Cash, Cash Equivalents and Short-Term Investments | 57.63M | 53.22M | 172.79M | 50.42M | 51.48M | 54.22M |
| Total Debt | 0.00 | 30.72M | 500.40M | 1.02B | 630.49M | 8.29B |
| Total Liabilities | -2.87B | 573.95M | 2.00B | 1.64B | 642.50M | 12.36B |
| Stockholders Equity | 2.87B | 2.87B | 404.15M | -143.68M | 10.76M | -11.20B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 534.90M | 644.76M | -417.32M | -181.06M | -4.85M |
| Operating Cash Flow | 0.00 | 783.70M | 850.54M | 183.08M | -143.58M | -4.85M |
| Investing Cash Flow | 0.00 | -244.57M | -197.20M | -560.90M | -27.30M | 1.52M |
| Financing Cash Flow | 0.00 | -658.52M | -532.30M | 378.51M | 176.99M | 5.68M |
Indosolar Limited Technical Analysis
Negative
487.50
Price Trends
308.49
Negative
354.85
Negative
394.75
Negative
Market Momentum
-14.32
Negative
44.28
Neutral
49.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WAAREEINDO, the sentiment is Negative. The current price of 487.5 is above the 20-day moving average (MA) of 266.75, above the 50-day MA of 308.49, and above the 200-day MA of 394.75, indicating a neutral trend. The MACD of -14.32 indicates Negative momentum. The RSI at 44.28 is Neutral, neither overbought nor oversold. The STOCH value of 49.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:WAAREEINDO.
Indosolar Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹31.15B | 4.28 | ― | 0.34% | 76.28% | 54.75% | |
67 Neutral | ₹10.74B | 6.70 | ― | ― | 7.02% | -5.74% | |
62 Neutral | ₹400.84B | 24.42 | ― | 0.17% | 26.70% | 58.85% | |
61 Neutral | ₹26.25B | 714.84 | ― | 43.58% | -26.93% | 72.37% | |
61 Neutral | ₹710.90B | 19.30 | ― | 0.16% | 94.31% | 74.80% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
44 Neutral | ₹41.90B | -14.30 | ― | 3.25% | 3.19% | -362.93% |
* General Sector Average
IN:WAAREEINDO
Indosolar Limited
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-44.19%
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Indosolar Limited Corporate Events
Indosolar Margin Surges Despite Revenue Drop in Q1 FY27
Jul 23, 2026
Indosolar reported standalone unaudited financial results for the quarter ended June 30, 2026, showing revenue from operations of ₹68.36 crore, significantly lower than ₹194.68 crore a year earlier due to a shift from direct distributi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.