Indosolar Limited has reported a strong financial turnaround in FY26, delivering substantial growth across key financial metrics driven by operational improvements and enhanced manufacturing capabilities.
The company’s revenue from operations for FY26 was ₹679.85 crore, which was a huge jump of 109.89% from ₹323.91 crore in FY25. EBITDA also went up, from ₹95.04 crore in the previous fiscal year to ₹270.75 crore, a year-on-year increase of 184.88%. Profit after tax (PAT) grew the most, going from ₹54.78 crore in FY25 to ₹246.60 crore, a 350.16% increase.
In terms of operational performance, module production rose sharply from 589 MW in FY25 to 1,051 MW in FY26. This was due to better manufacturing efficiency and capacity utilisation.
Q4 FY26 Performance Reflects Strategic Shift
For the fourth quarter of FY26 for Indosolar, revenue from operations stood at ₹83.10 crore, compared to ₹192.00 crore in Q4 FY25. The decline was attributed to a shift in revenue mix, with higher contribution from tolling contracts as opposed to direct distribution and trading revenues seen in the same period last year.
Even though sales went down, profits went up. EBITDA for Q4 FY26 went up 28.20% from ₹50.18 crore in Q4 FY25 to ₹64.33 crore. PAT also went up from ₹40.04 crore to ₹42.00 crore, which is a 4.90% increase from the previous year.
Operational Improvements and Technology Upgrades
Commenting on the results, Jignesh Rathod, Director and Chief Executive Officer, stated that FY26 marked a significant milestone in Indosolar’s turnaround journey. He highlighted that the company’s improved performance was driven by focused efforts in cost efficiency, manufacturing optimization, and operational excellence.
The company also made strategic investments in upgrading its technology capabilities, including the introduction of G12 solar module manufacturing. This advancement enables Indosolar to deliver higher-efficiency products aligned with evolving market demand.
Board Approvals and Leadership Changes
The company’s board has approved important leadership appointments as part of its ongoing strategic plans. Mr. Nilesh Bhogilal Gandhi has been named an Additional Director, and he will be a Non-Executive Independent Director. Also, Mr. Abhishek Pareek has been named Chief Financial Officer and Key Managerial Personnel.
Strengthening Market Position
With strong financial growth, increased production capacity, and continued investments in advanced manufacturing technologies, Indosolar is positioning itself for sustained growth. The company’s FY26 performance underscores a successful turnaround strategy and reinforces its role in supporting India’s expanding solar manufacturing ecosystem.
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