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Indosolar Ltd
| Assets & Liabilities Statement – As at March 31, 2026
Summary : Indosolar reports strong financial growth, new leadership appointments, and operational commencement.
Quarterly Report Analysis & Insights
Financial Disclosures
- Cost of materials consumed: ₹35,415.82 lakhs for FY26 (₹20,517.41 lakhs for FY25).
- Employee benefits expense: ₹578.88 lakhs for FY26 (₹306.01 lakhs for FY25).
- Finance costs: ₹126.94 lakhs for FY26 (₹1,377.78 lakhs for FY25).
- Revenue from operations: ₹67,984.85 lakhs for FY26 (₹32,390.62 lakhs for FY25).
- Total income: ₹68,136.54 lakhs for FY26 (₹32,474.56 lakhs for FY25).
- Net cash generated from operating activities: ₹7,837.03 lakhs for FY26 (₹8,505.36 lakhs for FY25).
- Net cash used in investing activities: ₹(2,445.68) lakhs for FY26 (₹(1,971.98) lakhs for FY25).
- Net cash used in financing activities: ₹(6,585.22) lakhs for FY26 (₹(5,322.97) lakhs for FY25).
- Net increase/(decrease) in cash and cash equivalents: ₹(1,193.87) lakhs for FY26 (₹1,210.41 lakhs for FY25).
- Total Assets: ₹34,440.30 lakhs as of March 31, 2026 (₹24,076.25 lakhs as of March 31, 2025).
- Total Equity: ₹28,700.78 lakhs as of March 31, 2026 (₹4,041.49 lakhs as of March 31, 2025).
- Non-current liabilities: ₹2,181.97 lakhs as of March 31, 2026 (₹5,639.25 lakhs as of March 31, 2025).
- Current liabilities: ₹3,557.55 lakhs as of March 31, 2026 (₹14,395.51 lakhs as of March 31, 2025).
- Trade receivables: ₹20,961.51 lakhs as of March 31, 2026 (₹465.54 lakhs as of March 31, 2025).
- Standalone audited financial results, as no subsidiaries/associates/JVs exist.
Corporate Overview
- Registered office in New Delhi, India
- Factory in Greater Noida, Uttar Pradesh, India
- Manufacturing and trading of solar photovoltaic modules.
- Factual and formal, reporting board meeting outcomes and financial results.
- Manufacturing and trading of solar photovoltaic modules.
- Commercial operations commenced at Greater Noida factory from July 11, 2024.
Risk Factors
- Financial results not directly comparable.
- Cash flow from operations decreased.
- Significant increase in trade receivables.
- Business focused on solar photovoltaic modules.
Key Drivers
- Strong financial results and profit growth.
- New independent director strengthens board.
- Chief Financial Officer appointment completed.
- Factory operations commenced in 2024.
Auditor’s Report
- Unmodified opinion on financial results.
Board Commentary
- Appointment of Mr. Nilesh Bhogilal Gandhi as additional non-executive independent director.
- Appointment of Mr. Abhishek Pareek as Chief Financial Officer and Key Managerial Officer.
- Compliance with SEBI LODR Regulations 2015.
Corporate Governance
- Auditors confirmed compliance with ICAI's Code of Ethics.
- Appointment of Mr. Nilesh Bhogilal Gandhi as an Independent Director.
- Audit committee reviewed and approved financial results.