Indosolar Ltd reported a marginal rise in net profit for the March quarter of FY26, even as revenue declined sharply year on year (YoY). In an exchange filing on Monday, April 20, the company said its net profit for the quarter stood at ₹42 crore, up 4.87% from ₹40 crore in the corresponding period last year. Revenue fell 56.7% year on year to ₹83 crore from ₹192 crore, owing likely to lower operational activity during the quarter.
Despite the fall in revenue, earnings before interest, tax, depreciation and amortisation (EBITDA) increased 28.1% to ₹64.33 crore from ₹50.21 crore a year earlier. EBITDA margin expanded sharply to 77.4% from 26.2% in the year‑ago quarter, reflecting stronger cost efficiencies and lower operating expenses.
Total expenses during the March quarter declined sharply to ₹27.92 crore from ₹138.02 crore in the December quarter, suggesting a scale‑down in operations.
For the full financial year, however, expenses rose to ₹447.08 crore in FY26 compared with ₹269.97 crore in FY25.
The photovoltaic solar module manufacturer reported profit before tax (PBT) of ₹56.31 crore for the quarter, higher than ₹40.04 crore in the year‑ago period but marginally lower on a sequential basis.
For the full year FY26, PBT rose to ₹234.28 crore from ₹54.78 crore in FY25.
As of March 31, 2026, Indosolar’s total assets increased to ₹344.4 crore from ₹240.76 crore a year ago, driven mainly by higher current assets. Trade receivables surged to ₹209.61 crore from ₹4.65 crore, while inventories declined. Cash and cash equivalents fell to ₹1.09 crore. Non‑current assets declined to ₹105.99 crore due to lower property, plant and equipment.
Separately, the company announced the appointment of Abhishek Pareek as chief financial officer with effect from April 20.
Ahead of the results, Indosolar shares closed 5% higher at ₹540.85 on Monday.
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