Indosolar Ltd, a Waaree Group company, has reported a profit after tax (PAT) of Rs 246.60 crore in FY26, as compared to Rs 54.78 crore in the previous year, marking more than a three-fold jump.
Revenue more than doubles YoY
The company’s revenue from operations stood at Rs 679.85 crore, representing a growth of 109.89% YoY, as compared to Rs 323.91 crore.
Production and EBITDA register strong growth
Indosolar’s module production stood at 1,051 MW, as against 589 MW. EBITDA was at Rs 270.75 crore, as compared to Rs 95.04 crore, logging a growth of 184.88%.
Operational and technology gains
Chief Executive Officer Jignesh Rathod said: “FY26 has been a significant year for Indosolar Ltd. We have undertaken meaningful improvements in cost efficiency, manufacturing, and operations, which have contributed to improved margin outcomes. We have also invested in upgrading our technology capabilities, including the introduction of G12 solar module manufacturing, enabling us to offer higher-efficiency products aligned with current market demand.”
Q4 performance reflects shift in revenue mix
For Q4 FY26, revenue from operations stood at Rs 83.10 crore, as compared to Rs 192.00 crore in Q4 FY25, on account of substantial revenue from tolling contracts against direct distribution and trading revenue during Q4 FY25. EBITDA stood at Rs 64.33 crore, as compared to Rs 50.18 crore, representing a growth of 28.20% YoY. PAT stood at Rs 42 crore, as compared to Rs 40.04 crore, representing a growth of 4.90% YoY.