Indosolar’s Comeback: A Revived Solar Contender with 10x Growth Potential? – EQ
In Short : Indosolar, recently relisted at ₹10 per share, is making a strong comeback under Waaree’s ownership. With sequential quarterly profits in FY25 and a cleaned-up balance sheet post-IBC, the company is expanding its solar manufacturing capacity. Backed by favorable policy tailwinds, Indosolar is emerging as a potential high-growth solar bet, though risks and market volatility remain.
In Detail : Indosolar has made a notable return to the stock market following its relisting through a promoter-led Offer-for-Sale at ₹10 per share. This move marks a significant step in the company’s revival journey after years of financial strain and operational challenges.
Now under the ownership of Waaree, one of India’s leading solar energy companies, Indosolar has started showing signs of a strong turnaround. It reported profits of ₹10.23 crore in Q3 FY25 and ₹40 crore in Q4, totaling ₹54.8 crore for the fiscal year—an impressive recovery from its earlier losses.
A key factor in this transformation is the successful restructuring of the company under the Insolvency and Bankruptcy Code (IBC). The resolution process involved a reduction in share capital, effectively wiping out old equity and giving Indosolar a cleaner and more viable balance sheet.
With financial stability returning, Indosolar is also expanding its manufacturing capabilities. It currently operates a 1.3 GW module production line and has ambitious plans to scale up to a fully integrated 6 GW facility, positioning itself as a major player in India’s solar manufacturing ecosystem.
The company stands to benefit from domestic content requirements and government initiatives promoting local solar manufacturing. These policy tailwinds could drive significant growth and make Indosolar an attractive long-term investment opportunity in the green energy sector.
Despite its improved outlook, investors should remain cautious. Structural risks, industry competition, and market volatility could still impact Indosolar’s trajectory. However, its turnaround story and future plans suggest strong potential for those seeking exposure to India’s solar energy boom.
