Indosolar share price today

Indosolar Ltd's share price was ₹200.75 at the close on 4 November 2026. It has been falling for 10 weeks. That is 33.4% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹191 and ₹557, and at that close it sat 3% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Indosolar Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 24 weeks running.

Over the last 11 years the share price moved +2,457% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 12 June 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

One change stood out: lowest operating margin in 9 quarters.

1. Lowest operating margin in 9 quarters

   Operating margin was 9.5% in the September 2026 quarter, against 34.9% a year earlier.

For July to September 2026 (the quarter ended 30 September 2026), Indosolar reported revenue of ₹156 crore, down 23.2% from ₹203 crore a year earlier, and a profit of ₹5.02 crore, down 89.2% from ₹46.3 crore.

Indosolar results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Indosolar closed at ₹200.75 on 4 November 2026, down 65.4% from ₹579.75 a year earlier (3 November 2025) and up 5,718.8% over five years. Its highest weekly close since March 2016 was ₹711.70 on 9 October 2025.

Indosolar share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

403 weekly closes from 11 March 2016 to 4 November 2026.

4 Nov 2026: Indosolar closed at ₹200.75, up 4.9% on the week and down 1.2% on the month. Results for July to September 2026: Revenue down 23.2% and profit down 89.2% on a year earlier.

Indosolar has paid no dividend on the NSE since 1 April 2021, the start of the period we checked.

No. Indosolar Ltd paid out 0% of its profit as dividends in each of its last 13 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate.

From the NSE corporate-actions record, read 5 November 2026.

Indosolar is on one of our India lists: Power & green energy stocks.

Indosolar Ltd earned ₹5.0 Cr of net profit in the Sep 2026 quarter, −89.2% on the same quarter a year earlier. Full-year FY26 profit was ₹247 Cr. That is 3.2% of the quarter's revenue. The same quarter a year earlier earned ₹46.3 Cr. 3 of the last 12 reported quarters were loss-making.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹247 Cr (+349.1% on the year before).

Why profit moved: revenue changed −23.2% on a year earlier and the margin moved −25.4 percentage points. Sales did the work while the margin got thinner.

On average over the last four quarters, profit changed +38.0% and revenue −12.8%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Indosolar Ltd reported ₹156 Cr of revenue in the Sep 2026 quarter, −23.2% on the same quarter a year earlier. Over 10 years it has grown 10.2% a year on average. The last full year, FY26, came in at ₹680 Cr. The last four reported quarters add to ₹507 Cr.

Revenue is everything the company billed its customers in the period.

FY26 revenue was ₹680 Cr, +109.9% on the year before.

Recent pace: the last four quarters grew −12.8% on average, against 10.2% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew −26.8%, against +324.6% a year over the last 8 quarters (rolling over).

Indosolar Ltd's operating margin was 9.5% in the Sep 2026 quarter, 25.4 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 9 years it has been between −4,068.0% and 40.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −25.4 percentage points on the year while gross margin changed −22.9 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead.

Over the last 3 years, 11% of Indosolar Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹78.0 Cr of operating cash against ₹247 Cr of profit. After ₹6.0 Cr of spending on assets, ₹72.0 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason.

What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building.

Indosolar Ltd's customer, stock and supplier day counts come out in the thousands of days on sales this small (₹680 Cr in FY26), so no cash-cycle chart is drawn and this section looks at its spending on assets instead. It spent ₹108 Cr on assets over the last 3 years.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Averaged over those years that is 5.3% of FY26 revenue a year.

Spending on assets: ₹108 Cr over the last 3 years, against ₹69.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹0.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Indosolar Ltd's P/E is 6.7×, near the low end of its own history: it has been lower only 29% of the time. Its usual P/E (the middle reading) is 7.2×, over 1 year of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks.

Why the multiple is where it is: over the past year earnings per share moved +350.0% while the price moved −65.4%. Earnings did better than the price, which pulled the multiple down within its own range.

In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple.

Indosolar Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 1 measure, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: with too little history, we say so rather than guess a direction.

There are fewer than eight usable quarters, so this page does not guess a direction from so little history.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Indosolar Ltd earned a ROCE of 124% in FY26. That is up from a low of −44% in FY19. Its return on capital used (ROIC) is 32.7 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 36.3% net margin and 1.98× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 36.3% net margin × 1.98× asset turnover × 1.20× leverage (assets divided by equity) ≈ 86.2% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed.

The key test, return on capital used minus the cost of capital: 44.7% − 12.0% = +32.7 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value.

The 44.7% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 131.1%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.

Indosolar Ltd has total debt of ₹3.0 Cr against shareholder equity of ₹329 Cr as of Sep 2026, so its debt is 0.01× its equity, which is very little. Year by year, that ratio went from −0.04 in FY21 to 0.01 in FY26. So the returns on this page come from the business, not from borrowed money.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Promoters cut their stake in Indosolar Ltd by 21.2 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 74.9% of the company. Foreign institutions moved +0.6 points over the same period, to 0.6%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Promoters: −21.2 points over 8 quarters, to 74.9%; Foreign institutions: +0.6 points over 8 quarters, to 0.6%; Domestic institutions: +0.1 points over 8 quarters, to 0.1%.

Why the owners changed: promoters drove it (−21.2 points), with the other side taken by foreign institutions (+0.6 points). They reduced their stake.

For Indosolar Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

36.1 out of 100, rank 9 of 14 in Electric Equipment - General, with 68% of the evidence available.

Indosolar Ltd scores 36.1 out of 100 against the 14 companies it is compared with in Electric Equipment - General, ranking 9. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 0.8 + 16.3 + 11.5 + 7.5 = 36.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Indosolar ranks 9 of 14 Electric Equipment - General companies on the 4-Factor Sector Score, with 36.1 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Electric Equipment - General, all 14 compared on one page.

Indosolar is the 10th largest of 14 Electric Equipment - General companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Vidya Wires, Vivid Electromech and Indo SMC. Just below it: Saakshi Medtech & Panels, Parth Electricals & Engineering and Cospower Engineering.

Electric Equipment - General companies close in size

7. Vidya Wires Ltd ₹1,729 crore
8. Vivid Electromech Ltd ₹1,008 crore
9. Indo SMC Ltd ₹941 crore
10. Indosolar Ltd ₹797 crore
11. Saakshi Medtech & Panels Ltd ₹733 crore
12. Parth Electricals & Engineering Ltd ₹659 crore
13. Cospower Engineering Ltd ₹550 crore

All 14 Electric Equipment - General companies, largest first

Companies close in size in other industries

1738. Manoj Vaibhav Gems N Jewellers Ltd ₹799 crore · Diamond, Gems & Jewellery
1739. Advance Agrolife Ltd ₹797 crore · Pesticides/Agrochemicals
1740. Indosolar Ltd ₹797 crore
1741. U P Hotels Ltd ₹794 crore · Hotels
1742. Aerpace Industries Ltd ₹793 crore · Trading