1. At a Glance
A solar company with a shut plant just posted ₹117 Cr quarterly profit. Revenues were ₹195 Cr, and market cap has crossed ₹1,000 Cr. Is it magic? Is it a one-time income spike? Is it… Waaree Energy 2.0? We decode this solar thriller.
2. Introduction with Hook
If stock markets love comeback stories, Indosolar is Bollywood-level drama: bankrupt → zero revenue for years → boom, ₹117 Cr net profit and stock up 300% in 12 months.
- Plant shut since 2018
- Book Value: ₹9.71 vs CMP: ₹256 (That’s 26.4x!)
- Promoter Holding: 96.15%
- ROE: 421% in FY25 (but wait till you see how)
Some say “turnaround”. Others say “shell company with solar dreams”. We say… grab popcorn.
3. Business Model (WTF Do They Even Do?)
Indosolar Ltd manufactures solar photovoltaic cells. But not right now. Their Greater Noida plant has been closed since 15 May 2018. The company:
- Proposes to start a module manufacturing line at the same site
- Is not operational but reported sales and profits in FY25 and Q1 FY26
- Lives rent-free in the “Possible Revival” section of investor forums
So far,
