Indosolar Limited Reports Q1 FY27 Net Profit of ₹36.62 Crore; EBITDA Margins Surge to 70.89%

Solar equipment and module manufacturing company Indosolar Limited (CIN: L18101DL2005PLC134879) has announced its unaudited financial results for the first quarter ended June 30, 2026 (Q1 FY27). Demonstrating significant operational efficiency and strong core profitability, the company recorded a Net Profit (Profit After Tax) of ₹36.62 crore (₹3,661.93 lakh) alongside a sharp expansion in its EBITDA margins, driven by strategic focus on tolling contract revenue.

Financial Performance Overview

During Q1 FY27, Indosolar Limited registered revenue from operations of ₹68.36 crore (₹6,836.14 lakh), compared to ₹194.68 crore (₹19,467.57 lakh) in the corresponding quarter of the previous fiscal (Q1 FY26) and ₹83.10 crore (₹8,309.88 lakh) in Q4 FY26. Total income for the quarter reached ₹76.75 crore (₹7,674.84 lakh), including other income of ₹8.39 crore (₹838.70 lakh).

The shift in revenue composition - primarily reflecting substantial revenue from tolling contracts compared to direct distribution and trading revenue in Q1 FY26 - contributed to significant cost efficiencies and margin optimization across manufacturing operations.

Operating Expenses and Profitability

Total expenses for the quarter dropped significantly to ₹29.28 crore (₹2,927.82 lakh), down from ₹140.84 crore (₹14,083.88 lakh) in Q1 FY26 and ₹27.92 crore (₹2,791.92 lakh) in Q4 FY26.

Major cost items for Q1 FY27 included:

Cost of Materials Consumed: ₹21.79 crore (₹2,178.71 lakh) vs. ₹121.51 crore in Q1 FY26.

Changes in Inventories: Impact of negative ₹14.72 crore (₹1,471.87) lakh.

Manufacturing Expenses: ₹8.37 crore (₹836.78 lakh).

Employee Benefits Expense: ₹1.75 crore (₹174.51 lakh) vs. ₹1.24 crore in Q1 FY26.

Finance Costs: Stood minimal at ₹0.08 crore (₹7.68 lakh) vs. ₹0.62 crore in Q1 FY26.

Depreciation and Amortisation: ₹9.30 crore (₹930.30 lakh) vs. ₹9.10 crore in Q1 FY26.

Other Expenses: ₹2.72 crore (₹271.71 lakh) vs. ₹4.06 crore in Q1 FY26.

Profit Before Tax (PBT) for Q1 FY27 stood at ₹47.47 crore (₹4,747.02 lakh), compared to ₹55.16 crore (₹5,515.75 lakh) in Q1 FY26 and ₹56.31 crore (₹5,631.38 lakh) in Q4 FY26.

After accounting for deferred tax expenses of ₹10.85 crore (₹1,085.09 lakh), the company achieved a Profit After Tax (PAT) of ₹36.62 crore (₹3,661.93 lakh). Total Comprehensive Income for the period stood at ₹36.62 crore (₹3,661.93 lakh), while Basic and Diluted Earnings Per Share (EPS) came in at ₹8.80 per share (face value ₹10/- each).

Core Margin Expansion and Operational Highlights

EBITDA & Margin Surge: Operating EBITDA for Q1 FY27 reached ₹48.46 crore. Despite market volatility and policy transitions, EBITDA margins expanded by 117.11% year-on-year to reach 70.89% in Q1 FY27, compared to 32.65% in Q1 FY26.

PAT Margin: Stood at a healthy 47.71% for the quarter under review.

Module Production: Total solar module production stood at 224 MW in Q1 FY27, compared to 244 MW in Q1 FY26.

Module Volume Sold: Total modules sold during the quarter reached 218 MW, compared to 231 MW in the corresponding period of the previous fiscal.

Capital Structure and Corporate Details

As of June 30, 2026, Indosolar Limited maintained a paid-up equity share capital of ₹41.60 crore (₹4,160.37 lakh comprising shares of face value ₹10 each), with reserves (excluding revaluation reserves) standing at ₹245.40 crore (₹24,540.41 lakh). The company conducts its corporate operations from its registered office in Saket, New Delhi.

Commenting on the results Mr. Jignesh Rathod, Director and Chief Executive Officer said: Our focus on operational efficiency and manufacturing excellence has driven improved EBITDA margins. While the industry was undergoing the policy transition, our disciplined execution, operational agility, and manufacturing capabilities enabled us to navigate the evolving environment effectively. Our advanced solar module manufacturing capabilities allow us to offer high-efficiency products, strengthen our competitive advantage, and improve our ability to address evolving customer and market requirements.

Source : Equity Bulls

Keywords

Indosolar Q1FY27 Q1FY2027 ResultUpdate