About Indosolar Limited
Data last updated: 29 September 2026
Indosolar Limited is a public limited company based in New Delhi, Delhi, India, a subsidiary of Waaree Energies Limited. It specialises in power equipment manufacturers, a part of the broader energy and power sector. Incorporated on 08 April 2005, the company has been in operation for over 21 years.
Registered with ROC Delhi under CIN L18101DL2005PLC134879. Listed on BSE: 533257 and NSE: INDOSOLAR.
Capital: an authorised share capital of ₹1,000 Cr and a paid-up capital of ₹41.6 Cr. Formerly known as Robin Solar Private Limited and Robin Garments Private Limited. It is led by directors including Hitesh Chimanlal Doshi and Jayesh Dhirajlal Shah.
Last AGM: 29 August 2025. Financial statements filed for year ended 31 March 2025. Office: Unit No. 301 3Rd Floor Building 02, Southern Park Saket New Delhi – 110017, Delhi, India – 110017.
As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹679.85 Cr, a growth of 109.89% compared to the previous year. The net worth stands at ₹287 Cr (up 610.22% YoY). Total assets are valued at ₹308.93 Cr (up 183.55% YoY).
It operates as a subsidiary of Waaree Energies Limited.
As per MCA filings, the company has open charges of ₹52 Cr and satisfied charges of ₹4,302.91 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website indosolar.co.in.
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Registered AddressUnit No. 301 3Rd Floor Building 02, Southern Park Saket New Delhi – 110017, Delhi, India – 110017
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IndustryEnergy and Power, Power Equipment Manufacturers
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
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Name History of Indosolar Limited
Indosolar Limited has undergone 4 name changes throughout its history. The current legal name is Indosolar Limited, reflecting the company's evolution and rebranding over time.
| Company Name | Status |
|---|---|
| Indosolar Limited | Current |
| Robin Solar Private Limited | Previous |
| Robin Garments Private Limited | Previous |
| Robin Solar Limited | Previous |
| Robin Solar Limited | Previous |
CIN History of Indosolar Limited
Indosolar Limited has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L18101DL2005PLC134879, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L18101DL2005PLC134879 | Current |
| U18101DL2005PTC134879 | Previous |
| U18101DL2005PLC134879 | Previous |
Business Activity of Indosolar Limited
Indosolar Limited operates primarily in the manufacturing sector. The company has 1 registered business activity segment, reflecting its diverse operational portfolio.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| Locked | Manufacturing | Locked | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment | Locked |
Detailed business activity records for Indosolar Limited
Activity codes and turnover contribution percentages require an active report plan.
- Activity group codes
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Auditor Details of Indosolar Limited
Indosolar Limited is audited by S G C O & Co. LLP for the financial year 2024. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| S G C O & Co. LLP | Locked | Locked | Locked |
Complete auditor history for Indosolar Limited
Appointment status, appointment dates, cessation dates, and historical auditor changes require an active report plan.
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Board of Directors of Indosolar Limited
Indosolar Limited is currently managed by 8 directors, with 24 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Hitesh Chimanlal Doshi | Managing Director | 18 May 2022 | 4 Years 4 Months | Current |
|
Jayesh Dhirajlal Shah
Also directs:
Waaree Technologies Limited
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Director | 29 Aug 2022 | 4 Years 1 Months | Current |
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Anita Jaiswal
Also directs:
Waaree Technologies Limited
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Director | 29 Aug 2022 | 4 Years 1 Months | Current |
| Mahesh Ramchand Chhabria | Director | 17 Apr 2025 | 1 Years 5 Months | Current |
|
Hitesh Pranjivan Mehta
Also directs:
Waaree Energies Limited, Waaree Renewable Technologies Limited, Waaree Green Aluminium Private Limited and 3 more
|
Director | 16 Jun 2022 | 4 Years 3 Months | Current |
| Viren Doshi Chimanlal | Director | 18 May 2022 | 4 Years 4 Months | Current |
Financials of Indosolar Limited FY 2025-26 filings available
Indosolar Limited reported revenue of ₹679.85 Cr (up 109.89% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 680 | 324 | 0.00 | 0.00 | 0.00 | 13.22 | 314 |
| Revenue growth | +78.8% | +5693.4% | +98.5% | -98.3% | -75.2% | +16.6% | +8.7% |
| EBITDA | 271 | 95.07 | (3.95) | (1.99) | (115) | (453) | (85.50) |
| EBITDA margin | +39.8% | +29.4% | - | - | - | -3425.5% | -27.2% |
| Profit before tax | 234 | 54.80 | (15.45) | 1,081 | (122) | (525) | (163) |
| Net profit | 247 | 54.73 | (12.97) | (7.21) | (14.85) | (96.72) | (98.74) |
| Net profit margin | +36.3% | +16.9% | - | - | - | -731.6% | -31.4% |
| EPS (₹) | 59.27 | 13.17 | (3.71) | 259.87 | (3.29) | 0.00 | 0.00 |
| Balance sheet | |||||||
| Total assets | 309 | 109 | 123 | 64.12 | (290) | (152) | 364 |
| Net worth | 287 | 40.41 | (14.37) | 1.07 | (1,120) | (981) | (336) |
| Total debt | 3.07 | 50.04 | 102 | 60.50 | 829 | 829 | 700 |
| Cash & bank | 5.76 | 17.10 | 5.04 | 4.25 | 4.53 | 4.72 | 6.45 |
| Net working capital | 203 | (14.73) | (19.43) | 5.22 | (399) | (392) | (336) |
| Cash flow | |||||||
| Cash from operations | 78.37 | 85.05 | 18.31 | (14.36) | (0.48) | 32.45 | 29.23 |
| Cash from investing | (24.46) | (19.72) | (56.09) | (2.73) | 0.15 | (22.83) | (8.00) |
| Cash from financing | (65.85) | (53.23) | 37.85 | 17.70 | 0.57 | (11.87) | (24.94) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 68.36 | 83.10 | 200 | 203 | 195 | 192 | 103 | 28.10 |
| Revenue growth (YoY) | -64.9% | -56.7% | +93.7% | +620.8% | +9997.0% | +9997.0% | +9997.0% | +9997.0% |
| Other income | 8.39 | 1.13 | 0.17 | 0.01 | 1.32 | 0.58 | 0.89 | 0.06 |
| Total expenses | 19.90 | 18.77 | 129 | 132 | 131 | 142 | 79.55 | 6.52 |
| EBITDA | 48.46 | 64.33 | 71.00 | 70.73 | 63.57 | 50.17 | 23.46 | 21.58 |
| EBITDA margin | +70.9% | +77.4% | +35.6% | +34.9% | +32.7% | +26.1% | +22.8% | +76.8% |
| Depreciation | 9.30 | 9.14 | 9.25 | 9.22 | 9.10 | 8.97 | 9.34 | 8.27 |
| Interest | 0.08 | 0.01 | 0.25 | 0.38 | 0.62 | 1.75 | 4.78 | 3.89 |
| Profit before tax | 47.47 | 56.31 | 61.67 | 61.14 | 55.17 | 40.03 | 10.23 | 9.48 |
| Tax | 10.85 | 14.32 | 20.21 | 14.80 | (61.64) | 0.00 | 0.00 | 0.00 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 68.36 | 83.10 | 200 | 203 | 195 | 192 | 103 | 28.10 |
| Revenue growth (YoY) | -64.9% | -56.7% | +93.7% | +620.8% | +9997.0% | +9997.0% | +9997.0% | +9997.0% |
| Other income | 8.39 | 1.13 | 0.17 | 0.01 | 1.32 | 0.58 | 0.89 | 0.06 |
| Total expenses | 19.90 | 18.77 | 129 | 132 | 131 | 142 | 79.55 | 6.52 |
| EBITDA | 48.46 | 64.33 | 71.00 | 70.73 | 63.57 | 50.17 | 23.46 | 21.58 |
| EBITDA margin | +70.9% | +77.4% | +35.6% | +34.9% | +32.7% | +26.1% | +22.8% | +76.8% |
| Depreciation | 9.30 | 9.14 | 9.25 | 9.22 | 9.10 | 8.97 | 9.34 | 8.27 |
| Interest | 0.08 | 0.01 | 0.25 | 0.38 | 0.62 | 1.75 | 4.78 | 3.89 |
| Profit before tax | 47.47 | 56.31 | 61.67 | 61.14 | 55.17 | 40.03 | 10.23 | 9.48 |
| Tax | 10.85 | 14.32 | 20.21 | 14.80 | (61.64) | 0.00 | 0.00 | 0.00 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|---|---|
| Revenue | 680 | 324 | 0.00 | 0.00 | 0.00 | 13.22 | 314 |
| Revenue growth | +78.8% | +5693.4% | +98.5% | -98.3% | -75.2% | +16.6% | +8.7% |
| Other income | 1.52 | 0.84 | 0.85 | 1,089 | 0.19 | 2.90 | 4.31 |
| Total expenses | 409 | 229 | 3.95 | 1.99 | 115 | 466 | 400 |
| Employee cost | 5.79 | 3.06 | 0.06 | 0.02 | 0.20 | 4.56 | 14.58 |
| EBITDA | 271 | 95.07 | (3.95) | (1.99) | (115) | (453) | (85.50) |
| EBITDA margin | +39.8% | +29.4% | - | - | - | -3425.5% | -27.2% |
| Depreciation | 36.71 | 27.33 | 4.58 | 4.25 | 7.11 | 24.14 | 28.11 |
| Interest | 1.27 | 13.78 | 7.77 | 1.10 | 0.00 | 50.93 | 53.52 |
| Profit before tax | 234 | 54.80 | (15.45) | 1,081 | (122) | (525) | (163) |
| Tax | (12.31) | 0.00 | 0.00 | 0.24 | 0.00 | 0.00 | 0.02 |
| Net profit | 247 | 54.73 | (12.97) | (7.21) | (14.85) | (96.72) | (98.74) |
| Net profit margin | +36.3% | +16.9% | - | - | - | -731.6% | -31.4% |
| EPS (₹) | 59.27 | 13.17 | (3.71) | 259.87 | (3.29) | 0.00 | 0.00 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 41.60 | 41.60 | 41.60 | 41.60 | 372 | 372 | 492 |
| Reserves & surplus | 245 | (1.19) | (55.97) | (40.53) | (1,492) | (1,357) | (832) |
| Shareholders' funds (net worth) | 287 | 40.41 | (14.37) | 1.07 | (1,120) | (981) | (336) |
| Secured loans | 0.00 | 0.00 | 0.00 | 38.57 | 34.81 | 822 | 694 |
| Unsecured loans | 3.07 | 50.04 | 102 | 21.93 | 794 | 6.69 | 5.89 |
| Total debt | 3.07 | 50.04 | 102 | 60.50 | 829 | 829 | 700 |
| Total liabilities | 309 | 109 | 123 | 64.12 | (290) | (152) | 364 |
| Assets | |||||||
| Gross block | 238 | 233 | 130 | 126 | 235 | 236 | 484 |
| Net block | 91.03 | 122 | 47.45 | 48.12 | 82.02 | 154 | 427 |
| Capital work in progress | 0.00 | 0.11 | 93.82 | 3.75 | 26.53 | 82.99 | 257 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 21.08 | 74.43 | 0.16 | 0.00 | 0.00 | 5.37 | 26.66 |
| Sundry debtors | 210 | 4.66 | 0.00 | 0.00 | 0.00 | 0.15 | 2.91 |
| Cash & bank balances | 5.76 | 17.10 | 5.04 | 4.25 | 4.53 | 4.72 | 6.45 |
| Loans & advances | 1.95 | 20.89 | 2.92 | 2.17 | 2.46 | 9.25 | 8.26 |
| Total current assets | 238 | 117 | 8.12 | 6.42 | 6.99 | 19.49 | 44.28 |
| Total current liabilities | 35.47 | 132 | 27.55 | 1.20 | 406 | 411 | 380 |
| Net working capital | 203 | (14.73) | (19.43) | 5.22 | (399) | (392) | (336) |
| Total assets | 309 | 109 | 123 | 64.12 | (290) | (152) | 364 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|---|---|
| Opening cash | 13.03 | 0.93 | 0.86 | 0.25 | 0.01 | 2.92 | 6.65 |
| Net cash from operating activities | 78.37 | 85.05 | 18.31 | (14.36) | (0.48) | 32.45 | 29.23 |
| Net cash from investing activities | (24.46) | (19.72) | (56.09) | (2.73) | 0.15 | (22.83) | (8.00) |
| Net cash from financing activities | (65.85) | (53.23) | 37.85 | 17.70 | 0.57 | (11.87) | (24.94) |
| Net change in cash | (11.94) | 12.10 | 0.07 | 0.61 | 0.24 | (2.25) | (3.72) |
| Closing cash | 5.76 | 17.10 | 5.04 | 4.25 | 4.53 | 4.72 | 6.45 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +109.9% | +9997.0% | +9997.0% | +9997.0% | +9997.0% | -95.8% | -29.0% |
| EBITDA growth | +184.8% | +9998.0% | -98.5% | +98.3% | +74.5% | -429.7% | - |
| PBT growth | +327.5% | +9998.0% | - | +9998.0% | +76.7% | -222.5% | -181.7% |
| Net income growth | +350.6% | +9998.0% | -79.9% | +51.5% | +84.7% | +2.1% | -70.4% |
| Revenue CAGR (3Y) | - | - | -100.0% | -100.0% | -100.0% | -62.8% | +2.0% |
| EBITDA CAGR (3Y) | - | - | -79.4% | -71.5% | - | - | - |
| Profitability & leverage | |||||||
| Net income margin | +36.3% | +16.9% | - | - | - | -3971.4% | -51.8% |
| Return on capital employed | +34.5% | +16.5% | 0.0% | -3.0% | 0.0% | 0.0% | 0.0% |
| Return on net worth | +38.6% | +17.6% | 0.0% | +3.0% | 0.0% | 0.0% | 0.0% |
| Debt / equity | 0.16 | 5.83 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Long-term debt / equity | 0.12 | 5.35 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | 0.54 | 20.34 | -91.09 | -17.63 | 0.00 | -10.68 | -47.11 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.89 | 1.78 | 0.00 | 0.00 | 0.00 | 0.04 | 0.65 |
| Inventory turnover | 14.24 | 8.69 | 0.00 | 0.00 | 0.00 | 0.83 | 9.92 |
| Debtors turnover | 6.35 | 139.02 | 0.00 | 0.00 | 0.00 | 8.64 | 44.49 |
| EPS (₹) | 59.27 | 13.17 | (3.71) | 259.87 | (3.29) | 0.00 | 0.00 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 68.99 | 9.71 | (3.45) | 0.26 | (30.10) | (26.48) | (12.37) |
Shareholding Pattern of Indosolar Limited
As per the shareholding pattern for the quarter ended Jun 2026, promoters hold 74.90%, foreign institutional investors hold 0.50%, domestic institutional investors hold 0.10%, retail and other public shareholders hold 24.50% of Indosolar Limited.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | |
|---|---|---|---|---|
| Promoters | 74.90% | 74.90% | 74.90% | 74.90% |
| Public | 25.10% | 25.10% | 25.10% | 25.10% |
Charges & Borrowings of Indosolar Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 14 May 2025 | The Hongkong and Shanghai Banking Corporation Limited | ₹52 Cr | Open |
| 29 Dec 2011 | Union Bank of India | ₹470.74 Cr | Satisfied |
| 21 Mar 2011 | Andhra Bank | ₹20.38 Cr | Satisfied |
| 09 Mar 2011 | Union Bank of India | ₹228 Cr | Satisfied |
| 10 Jan 2011 | Andhra Bank | ₹22 Cr | Satisfied |
Total charge records: 21 View all charges
Employees and EPFO Compliance at Indosolar Limited
View historical data on people associated with Indosolar Limited, including employment history and EPFO contributions.
Employee and EPFO history for Indosolar Limited
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GST Compliance of Indosolar Limited
GST registrations and filing compliance for Indosolar Limited
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Credit Ratings, Litigation & Regulatory Alerts for Indosolar Limited
Credit ratings, litigation, and regulatory alerts for Indosolar Limited
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MSME Payment Delays by Indosolar Limited
MSME payment history for Indosolar Limited
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Subsidiaries & Group Companies of Indosolar Limited
Corporate group structure for Indosolar Limited
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MCA Filings & Documents of Indosolar Limited
MCA filings and documents for Indosolar Limited
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Recent Activity on Indosolar Limited
Recent News on Indosolar Limited
Frequently Asked Questions about Indosolar Limited
Indosolar Limited is an active public limited company in the energy and power sector based in New Delhi, Delhi, India. It was incorporated on 08 April 2005 (21+ years old) and is registered under CIN L18101DL2005PLC134879. Listed on BSE: 533257 and NSE: INDOSOLAR.
Indosolar Limited reported revenue of ₹679.85 Cr for FY 2025-26 (up 109.89% YoY) based on standalone financials.
The current directors of Indosolar Limited are:
- Hitesh Chimanlal Doshi - Managing Director
- Jayesh Dhirajlal Shah - Director
- Anita Jaiswal - Director
- Mahesh Ramchand Chhabria - Director
- Hitesh Pranjivan Mehta - Director
- Viren Doshi Chimanlal - Director
- Jignesh Devchandbhai Rathod - Director
- Nilesh Bhogilal Gandhi - Additional Director
The primary industry of Indosolar Limited is energy and power. The company specifically operates in power equipment manufacturers. The company is currently active in this sector.
Yes. Indosolar Limited is listed on both BSE (code: 533257) and NSE (symbol: INDOSOLAR).
Indosolar Limited can be reached at the registered office: Unit No. 301 3Rd Floor Building 02, Southern Park Saket New Delhi – 110017, Delhi, India – 110017, or through the website indosolar.co.in.