Indosolar, a subsidiary of Waaree Energies Ltd, has reported revenue from operations of INR 679.85 crore for FY26, up 109.9% from INR 323.91 crore in FY25. Net profit rose 350.2% year on year to INR 246.6 crore.
Module production increased to 1,051 MW in FY26 from 589 MW a year ago. The company operates a 1.3 GW module manufacturing facility in Noida.
In the fourth quarter (Q4 FY26), revenue from operations declined to INR 83.1 crore from INR 192.0 crore in the same period last year, which the company attributed to substantial tolling contract revenues compared to direct distribution and trading revenues in Q4 FY25. Net profit for the quarter rose marginally to INR 42 crore from INR 40.04 crore, up 4.9% YoY.
“We close the year with revenue from operations of INR 679.85 crore, EBITDA of INR 270.75 crore, and PAT of INR 246.60 crore, alongside 1,051 MW of module production — a performance we believe reflects the remarkable progress of our business turnaround,” said Jignesh Rathod, director and chief executive officer. “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.”
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