WAAREEINDO

Indosolar Limited (WAAREEINDO) Stock Analysis

Indosolar Limited, associated with the Waaree group, manufactures solar photovoltaic cells and modules in India. It supports domestic solar projects and export demand with integrated PV manufacturing. The company contributes to India's renewable supply chain. It is listed on Indian stock exchanges.

Technology › Solar

₹255.70

+3.54% 1W | -49.60% 52W

Market Cap

1.1k CR

P/E Ratio

6.4

52W High

₹725

52W Low

₹241.1

Div. Yield

Beta

0.7

50 DMA

₹302.8

200 DMA

₹387.4

Profit Margin

30.1%

Inst. Own.

✅ BOUNCE FROM SUPPORT

Fundamentals

Profit & Loss

Metric	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	0	0	0	0	0	28	103	192	195	203	200	83	68
Expenses	0	0	2	1	1	7	80	142	131	132	129	19	20
Operating Profit	-0	-0	-2	-1	-1	22	23	50	64	71	71	64	48
OPM %						77%	23%	26%	33%	35%	36%	77%	71%
Other Income	0	0	0	1	0	0	1	1	1	0	0	1	8
Interest	1	2	2	3	3	4	5	2	1	0	0	0	0
Depreciation	1	1	1	1	1	8	9	9	9	9	9	9	9
Profit before tax	-2	-3	-5	-5	-5	9	10	40	55	61	62	56	47
Tax %	0%	0%	0%	0%	0%	0%	0%	0%	-112%	24%	33%	25%	23%
Net Profit	-2	-3	-5	-5	-5	9	10	40	117	46	41	42	37
EPS in Rs	-0.57	-0.77	-1.21	-1.16	-1.20	2.28	2.46	9.62	28.07	11.14	9.97	10.10	8.80

Metric	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	296	258	442	314	13	0	0	0	0	0	324	680	554
Expenses	248	248	368	336	38	2	1	8	2	1	229	409	299
Operating Profit	48	10	75	-21	-25	-2	-1	-8	-2	-1	95	271	255
OPM %	16%	3.8%	17%	-7%	-186%			-4,068%			29%	40%	46%
Other Income	4	2	3	-60	-425	1	1	-107	1,089	-2	1	2	10
Interest	103	126	106	54	51	0	0	0	1	8	14	1	1
Depreciation	27	27	29	28	24	7	7	7	4	5	27	37	37
Profit before tax	-78	-141	-58	-163	-525	-8	-8	-122	1,081	-15	55	234	227
Tax %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	-5%
Net Profit	-78	-141	-58	-163	-525	-8	-8	-122	1,081	-15	55	247	166
EPS in Rs	-2.18	-3.94	-1.62	-4.38	-14.11	-0.22	-0.21	-3.29	259.87	-3.71	13.17	59.27	40.01
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Growth — CAGR

Metric	3Y	5Y	10Y
Revenue CAGR	–	–	10.0%
Profit CAGR	231.0%	101.0%	14.0%

Shareholding Pattern

Period

Promoters74.93%

FIIs0.54%

DIIs0.06%

Public24.46%

WAAREEINDO

Holdings Analysis

Key strengths & risk signals

Overall

Fundamental

Technical

Risks (4)

Cannot calculate PEG - insufficient growth data.

POOR YEAR! Stock declined 49.6% in the last year.

WEAK POSITION! Current price (255.7) is below both moving averages.

WEAK! Trading at 3.0% of 52W range - near yearly lows.

Strengths (4)

EXCELLENT EFFICIENCY! 30.1% profit margin - company keeps strong profits.

LOW VOLATILITY! Beta of 0.70 - stable stock, less market risk.

BULLISH SENTIMENT! In last 30 days: 9 up days, 21 down days. Avg volume on up days: 148,983 vs down days: 104,106. Ratio: 1.43x

TESTING SUPPORT! Stock is at key support level.

Fundamental & Technical Analysis

56Overall

52Fundamental

60Technical

Fundamental Breakdown

Growth Quality

4/30

Revenue CAGR: 0% (DECLINING, 2/15). Profit CAGR: -38.9% (DECLINING, 2/15).

Profit Margin

10/10

EXCELLENT EFFICIENCY! 30.1% profit margin - company keeps strong profits.

PEG Valuation

1/10

Cannot calculate PEG - insufficient growth data.

Dividend Yield

3/10

NEGLIGIBLE DIVIDEND! 0% yield - little to no income.

Debt to Equity

4/10

HIGH DEBT! D/E of 1.24 - caution advised.

Public Holding

20/20

VERY LESS PUBLIC HOLDING! 3.86% public ownership - strong promoter/institutional control.

Stability Index

10/10

PERFECT RECORD! Revenue has grown consistently every year. Exceptional business stability.

Technical Breakdown

Moving Averages

5/10

BEARISH TREND! 50-day average (302.8) is below 200-day average (387.4) - negative signal.

Price Position

2/10

WEAK POSITION! Current price (255.7) is below both moving averages.

Trend Pattern

16/20

TESTING SUPPORT! Stock is at key support level.

52W Performance

0/10

POOR YEAR! Stock declined 49.6% in the last year.

Volume Sentiment

25/30

BULLISH SENTIMENT! In last 30 days: 9 up days, 21 down days. Avg volume on up days: 148,983 vs down days: 104,106. Ratio: 1.43x

RSI

4/5

APPROACHING OVERSOLD! RSI at 36.9 - watch for reversal.

52W Range

1/5

WEAK! Trading at 3.0% of 52W range - near yearly lows.

Momentum

2/5

WEAK MOMENTUM! Limited price growth - 3.5% (1 week), -14.9% (1 month), -36.8% (3 months).

Beta

5/5

LOW VOLATILITY! Beta of 0.70 - stable stock, less market risk.

Peer Comparison

Technology · Solar · 8 stocks

Industry peers

Stock	Price	P/E	Profit Margin	Revenue CAGR 5Y	Profit CAGR 5Y	52W Change	Stock Strength	Trendline	YoY Profit	QoQ Profit	YoY Revenue	QoQ Revenue
WAAREEINDO	₹255.70	6.4	30.1%	–	-38.9%	-49.6%	56	BOUNCE FROM SUPPORT	-68.7%	-12.9%	-64.9%	-17.7%
SOLARWORLD	₹138.50	9.5	7.9%	80.9%	101.0%	-56.5%	64	APPROACHING SUPPORT	-26.4%	-80.7%	+146.9%	-71.5%
SWELECTES	₹581.90	21.2	6.8%	40.0%	115.1%	-38.7%	60	CONSOLIDATING DOWN	-65.4%	-30.4%	-26.2%	-35.4%
SOLEX	₹735.20	9.9	4.9%	115.5%	228.4%	-57.2%	71	BOUNCE FROM SUPPORT	-66.9%	-86.2%	+0.5%	-70.5%
URJA	₹9.10	301.7	2.1%	19.0%	-4.4%	-34.6%	43	APPROACHING RESISTANCE	-20.0%	+100.0%	-26.3%	-20.5%
INA	₹91.50	10.1	7.7%	97.0%	165.8%	-6.3%	65	CONSOLIDATION	–	-45.8%	–	-6.7%
SURANASOL	₹25.90	20.4	18.1%	-21.0%	-18.4%	-25.3%	53	APPROACHING RESISTANCE	+1,700.0%	+2,600.0%	+719.0%	+26.5%
GENSOL	₹27.90	1.2	6.8%	139.5%	165.3%	-96.0%	68	CONSOLIDATING DOWN	–	-42.5%	–	-0.6%

Data from TradeAlone · Updated daily

WAAREEINDO News

Indosolar Limited (waareeindo) Q1 FY27: Ebitda Margin Growth Despite Market Volatility2026-07-23