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Indosolar Reports Robust Q3 FY26 Growth: PAT Surges 305% YoY to ₹41.47 Crores
Indosolar Limited, a subsidiary of Waaree Energies, reported a stellar performance for Q3 FY26 with total income rising 92.20% YoY to ₹199.70 crores. Profitability saw a massive jump as PAT surged 304.98% YoY to ₹41.47 crores, supported by significant margin expansion. EBITDA margins improved from 23.44% to 35.64% during the quarter, reflecting better operational efficiency. For the nine-month period (9M FY26), the company's PAT grew by an exceptional 1288% to ₹204.60 crores compared to the previous year.
Key Highlights
Total Income for Q3 FY26 stood at ₹199.70 crores, up 92.20% from ₹103.90 crores in Q3 FY25.
Quarterly PAT increased by 304.98% YoY to ₹41.47 crores with PAT margins doubling to 20.77%.
EBITDA for the quarter grew 192.28% YoY to ₹71.17 crores, with margins expanding to 35.64%.
9M FY26 performance shows massive scale-up with PAT reaching ₹204.60 crores vs ₹14.74 crores YoY.
The company operates a 1.3 GW solar module manufacturing facility in Noida as a Waaree Energies subsidiary.
💼 Action for Investors
Investors should take note of the significant turnaround and margin expansion, which positions the company well in the high-growth solar sector. The strong parentage of Waaree Energies and the 1.3 GW capacity utilization remain key drivers to watch for long-term value.
Indosolar Q3 PAT Surges to ₹41.47 Cr; Dr. Jignesh Rathod Appointed as CEO
Indosolar Limited reported a robust Q3 FY26 with revenue from operations at ₹199.53 crore and a Profit After Tax (PAT) of ₹41.47 crore. For the nine-month period ending December 2025, the company recorded a total income of ₹597.13 crore and a PAT of ₹204.60 crore, reflecting strong growth since commencing commercial operations in July 2024. The board also announced the appointment of Dr. Jignesh Rathod as CEO following the resignation of Mr. Amit Ashok Paithankar. Furthermore, the company plans to relocate its registered office from Delhi to Maharashtra to streamline operations within the Waaree Group.
Key Highlights
Q3 FY26 Revenue from operations grew to ₹199.53 crore from ₹103.01 crore in the previous year's corresponding quarter.
Net Profit for the quarter stood at ₹41.47 crore, a significant increase from ₹10.24 crore in Q3 FY25.
9M FY26 PAT reached ₹204.60 crore, aided by the recognition of deferred tax assets worth ₹61.64 crore earlier in the fiscal year.
Management transition: Dr. Jignesh Rathod, a Waaree Group veteran with 18+ years of experience, appointed as CEO effective January 16, 2026.
Board approved shifting the registered office from Delhi to Maharashtra, pending shareholder and regulatory approvals.
💼 Action for Investors
The strong financial performance and leadership transition within the Waaree Group ecosystem are positive indicators of operational stability. Investors should monitor the company's ability to maintain these margins as it scales its solar PV module manufacturing.
Indosolar Q3 PAT Surges 305% to ₹41.47 Cr; Dr. Jignesh Rathod Appointed as CEO
Indosolar Limited reported a robust Q3 FY26 with revenue from operations reaching ₹199.53 crore, a 93.7% increase from ₹103.01 crore year-on-year. Net profit saw a massive jump of 305%, rising to ₹41.47 crore from ₹10.24 crore in the same quarter last year. The company also announced a leadership change, appointing Dr. Jignesh Rathod, a veteran from the Waaree Group, as the new CEO. Furthermore, the board approved shifting the registered office to Maharashtra, indicating closer integration with its parent group's operations.
Key Highlights
Quarterly Revenue grew 93.7% YoY to ₹199.53 crore, while 9-month revenue reached ₹596.75 crore.
Net Profit for Q3 FY26 stood at ₹41.47 crore, a significant increase from ₹10.24 crore in Q3 FY25.
9-month PAT reached ₹204.60 crore, significantly higher than ₹14.74 crore in the previous year's corresponding period.
Dr. Jignesh Rathod, with 18 years of experience at Waaree Group, appointed as CEO effective January 16, 2026.
Board approved shifting the registered office from Delhi to Maharashtra to streamline group operations.
💼 Action for Investors
The strong financial turnaround and leadership transition to a group veteran are highly positive; investors should monitor the company's ability to maintain these high margins as it scales.
Indosolar Q3 Net Profit Jumps to ₹41.47 Cr; Appoints Dr. Jignesh Rathod as New CEO
Indosolar Limited reported a stellar performance for Q3 FY26, with revenue from operations nearly doubling to ₹199.53 crore compared to ₹103.01 crore in the previous year. Net profit surged significantly to ₹41.47 crore from ₹10.24 crore in Q3 FY25, reflecting the successful scale-up of its Greater Noida manufacturing facility. The company also announced a leadership change, appointing Dr. Jignesh Rathod as the new CEO following the resignation of Amit Ashok Paithankar. Furthermore, the board has proposed shifting the registered office from Delhi to Maharashtra to better align with Waaree Group operations.
Key Highlights
Revenue from operations grew 93.7% YoY to ₹199.53 crore in Q3 FY26.
Net profit for the quarter increased by over 300% YoY to ₹41.47 crore.
Nine-month revenue reached ₹596.75 crore, up from ₹130.57 crore in the corresponding period last year.
Dr. Jignesh Devchandbhai Rathod appointed as CEO and Non-Executive Director effective January 16, 2026.
Board approved shifting the registered office from Delhi to Maharashtra, subject to shareholder approval.
💼 Action for Investors
Investors should view the strong earnings growth and the appointment of a Waaree Group veteran as CEO as a positive signal for operational stability. The stock remains a strong hold as the company continues to benefit from its newly operational manufacturing capacity.
Indosolar Q3 PAT Surges to ₹41.47 Cr; New CEO Appointed as Operations Scale Up
Indosolar Limited reported a robust performance for Q3 FY26, with revenue from operations nearly doubling to ₹199.53 crore compared to ₹103.01 crore in the same quarter last year. Net profit for the quarter jumped significantly to ₹41.47 crore from ₹10.24 crore YoY, reflecting the successful ramp-up of its Greater Noida factory which commenced operations in July 2024. The company also announced a leadership transition, appointing Dr. Jignesh Rathod as the new CEO following the resignation of Amit Paithankar. Furthermore, the board has proposed shifting the registered office from Delhi to Maharashtra to better align with the Waaree Group's corporate structure.
Key Highlights
Revenue from operations grew 93.7% YoY to ₹199.53 crore in Q3 FY26.
Net Profit (PAT) for the quarter increased by over 300% YoY to ₹41.47 crore.
Nine-month (9M FY26) PAT reached ₹204.60 crore, a massive jump from ₹14.74 crore in the previous year.
Dr. Jignesh Rathod, a Waaree Group veteran with 18+ years of experience, appointed as the new CEO.
Board approved shifting the registered office from Delhi to Maharashtra, subject to shareholder approval.
💼 Action for Investors
The company is demonstrating strong operational turnaround and profitability following its acquisition by the Waaree Group. Investors should maintain a positive outlook but monitor the leadership transition and the impact of the registered office relocation on administrative costs.
Indosolar Q3 PAT Jumps 305% YoY to ₹41.47 Cr; Dr. Jignesh Rathod Appointed as CEO
Indosolar Limited reported a robust year-on-year performance for Q3 FY26, with revenue from operations nearly doubling to ₹199.53 crore compared to ₹103.01 crore in the same quarter last year. Net profit for the quarter surged to ₹41.47 crore from ₹10.24 crore YoY, reflecting the successful scale-up of its Greater Noida factory operations. The company also announced a key leadership change, appointing Waaree Group veteran Dr. Jignesh Rathod as CEO following the resignation of Amit Paithankar. Additionally, the board has proposed shifting the registered office from Delhi to Maharashtra to align with group operations.
Key Highlights
Revenue from operations grew 93.7% YoY to ₹199.53 crore in Q3 FY26.
Net Profit (PAT) for the quarter increased by 305% YoY to ₹41.47 crore.
9-month FY26 PAT reached ₹204.60 crore, a massive jump from ₹14.74 crore in the previous year period.
Dr. Jignesh Rathod, with 18+ years of experience at Waaree Group, appointed as CEO effective January 16, 2026.
Board approved shifting the Registered Office from New Delhi to Maharashtra, subject to shareholder approval.
💼 Action for Investors
Investors should take note of the significant operational turnaround and profit growth following the commencement of the Greater Noida facility. The appointment of a long-term group veteran as CEO suggests stability and deeper integration with the Waaree ecosystem.
Indosolar Q3 PAT Surges 305% YoY to ₹41.47 Cr; Appoints Dr. Jignesh Rathod as CEO
Indosolar Limited reported a robust year-on-year performance for Q3 FY26, with revenue nearly doubling to ₹199.53 crore compared to ₹103.01 crore in the same period last year. Net profit (PAT) jumped to ₹41.47 crore from ₹10.24 crore YoY, though it saw a slight sequential decline from ₹46.34 crore in Q2. The company announced a leadership change, appointing Dr. Jignesh Rathod as CEO following the resignation of Amit Ashok Paithankar. Furthermore, the board has approved shifting the registered office from Delhi to Maharashtra to better align with the Waaree Group's operations.
Key Highlights
Revenue from operations grew 93.7% YoY to ₹199.53 crore in Q3 FY26.
Net Profit (PAT) for the quarter stood at ₹41.47 crore, a 305% increase from ₹10.24 crore in Q3 FY25.
9-month FY26 PAT reached ₹204.60 crore, compared to just ₹14.74 crore in the previous year's 9-month period.
Dr. Jignesh Rathod, a veteran with 18+ years in the Waaree Group, appointed as the new CEO and Additional Director.
Board approved the relocation of the registered office from Delhi to Maharashtra, subject to shareholder approval.
💼 Action for Investors
Investors should note the strong YoY growth following the commencement of commercial operations at the Greater Noida factory. The leadership transition to a Waaree Group veteran suggests a focus on operational continuity and group synergy.
Indosolar Q3 PAT Surges 305% YoY to ₹41.47 Cr; Dr. Jignesh Rathod Appointed as CEO
Indosolar Limited reported a robust YoY performance for Q3 FY26, with revenue from operations nearly doubling to ₹199.53 crore and PAT jumping 305% to ₹41.47 crore. While YoY growth is high due to the commencement of commercial operations in July 2024, the company saw a minor sequential dip in revenue (1.5%) and PAT (10.5%) compared to Q2 FY26. The board also approved the appointment of Dr. Jignesh Rathod, a Waaree Group veteran, as the new CEO. Furthermore, the company plans to shift its registered office from Delhi to Maharashtra to better align with its parent group's operations.
Key Highlights
Revenue from operations grew 93.7% YoY to ₹19,952.61 lakhs in Q3 FY26.
Net Profit (PAT) for the quarter stood at ₹4,147.01 lakhs, up from ₹1,023.50 lakhs in Q3 FY25.
9-month FY26 revenue reached ₹59,674.97 lakhs, significantly higher than the ₹13,056.60 lakhs reported in 9M FY25.
Dr. Jignesh Rathod appointed as CEO, bringing 18 years of experience within the Waaree Group.
Proposal to shift registered office to Maharashtra approved, pending shareholder and regulatory nods.
💼 Action for Investors
The company is successfully scaling up operations post-restart, though investors should monitor if the slight QoQ margin contraction is a trend. The leadership transition to a group insider is a stabilizing move for the Waaree-owned entity.