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Swing Capital

Indosolar Ltd

NSE: WAAREEINDO BSE: 533257Energy

Indosolar Ltd (WAAREEINDO) is a Energy company listed on NSE: WAAREEINDO | BSE: 533257. With a market cap of ₹1,585 Cr and ROCE of 124%, ROE of 151%, it operates in the Indian Energy sector.

₹382
52W: ₹165 — ₹725
PE 6.43 · Book ₹69 · +454% vs book
Market Cap₹1,585 Cr
Stock P/E6.43Price to Earnings
ROCE124%Return on Capital
ROE151%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Company has delivered good profit growth of 101% CAGR over last 5 years

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Tax rate seems low
  • −Debtor days have increased from 58.9 to 113 days.
  • −Working capital days have increased from 28.0 days to 106 days

Shareholding Pattern

Promoters74.93%
FIIs0.55%
DIIs0.13%
Public24.38%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters96.15%96.15%96.15%96.15%95%▼1.274.93%▼20.174.93%74.93%
FIIs0%0%0%0%0.01%▲0.00.53%▲0.50.53%0.55%▲0.0
DIIs0%0%0%0%0.05%▲0.10.07%▲0.00.06%▼0.00.13%▲0.1
Public3.86%3.86%3.86%3.86%4.94%▲1.124.46%▲19.524.47%▲0.024.38%▼0.1

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales0002810319219520320083
Expenses21178014213113212919
Operating Profit-2-1-122235064717164
OPM %0%0%0%77%23%26%33%35%36%77%
Net Profit-5-5-591040117464142
EPS ₹-1.21-1.16-1.22.282.469.6228.0711.149.9710.1

AI Insights

Revenue Trend

Mar 2026 revenue at ₹680Cr, up 109.9% YoY. OPM at 40%.

Debt Position

Borrowings at ₹3Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Institutional Flow

DIIs: 0.13% (+0.13pp change). FIIs: 0.55% (+0.55pp change). Promoters hold 74.93%.

Margin & Efficiency

ROCE improving from 3% (Mar 2015) to 124% (Mar 2026). Working capital days: 106.

Valuation

PE 6.43x with 124% ROCE. Price is 454% above book value of ₹69. Dividend yield: 0%.

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