Indosolar shares locked in 5% lower circuit after weak Q1FY27 earnings
The stock fell 5 per cent to hit its lower circuit limit of ₹352.65 on the NSE during the intraday session. Trading in the stock was subsequently halted after it locked at the lower circuit.
 "Indosolar")
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Indosolar Share Price Today Shares of Waaree Group company and Waaree Energies' subsidiary, Indosolar, came under selling pressure on Friday, July 24, after the company reported its financial results for the first quarter of FY27.
The stock fell 5 per cent to hit its lower circuit limit of ₹352.65 on the NSE during the intraday session. Trading in the stock was subsequently halted after it locked at the lower circuit.
According to the company's exchange filing, revenue from operations declined to ₹68.36 crore in Q1FY27 from ₹194.68 crore in the corresponding quarter of the previous fiscal. The company attributed the decline to substantial revenue from tolling contracts during the quarter, compared with direct distribution and trading revenue in Q1FY26.
Profit after tax (PAT) stood at ₹36.62 crore in Q1FY27, compared with ₹116.79 crore in the year-ago period.
Despite the decline in revenue and profit, the company reported an Ebitda margin of 70.89 per cent in Q1FY27, compared with 32.65 per cent in Q1FY26, representing a growth of 117.11 per cent.
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Operationally, module production stood at 224 MW during the quarter, compared with 244 MW in Q1FY26, while module sales were 218 MW against 231 MW in the corresponding period last year.
| Particular | Q1 FY27 | Q1 FY26 | YoY Change |
| Revenue from Operation | 68.36 | 194.68 | -64.89% |
| EBITDA | 48.46 | 63.57 | -23.77% |
| EBITDA Margin | 70.89% | 32.65% | — |
| PAT | 36.62 | 116.79 | -68.65% |
| PAT Margin | 47.71% | 59.59% |
Commenting on the performance, Jignesh Rathod, director and chief executive officer of Indosolar, said the company's focus on operational efficiency and manufacturing excellence helped improve Ebitda margins. He added that disciplined execution, operational agility, and manufacturing capabilities enabled the company to navigate the industry's policy transition effectively while strengthening its ability to meet evolving customer and market requirements through its high-efficiency solar module manufacturing capabilities.
Indosolar Limited having capacity of 1.3 GW module manufacturing through its facility situated at Noida, is a subsidiary of
Waaree Energies Limited, India’s largest solar module manufacturer.
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First Published: Jul 24 2026 | 1:44 PM IST