Indosolar shares declined more than 5% in early trade after the company reported a mixed set of consolidated results for the fourth quarter. While profitability improved on a year-on-year basis, a steep fall in revenue weighed on investor sentiment.
For the quarter ended March 2026, Indosolar reported revenue of ₹83 crore, marking a sharp decline of 56.7% compared to ₹192 crore in the same period last year. The significant drop in topline performance raised concerns about business momentum and demand visibility.
Despite the weak revenue, the company delivered strong operating performance. EBITDA rose 28.2% year-on-year to ₹64.3 crore, up from ₹50.2 crore in the corresponding quarter last year. The EBITDA margin expanded sharply to 77.4%, compared to 26.1% a year ago, reflecting a massive improvement of 5,130 basis points.
Net profit also saw a modest increase, rising 4.9% to ₹42 crore versus ₹40 crore in the year-ago quarter. The improvement in profitability, despite lower revenue, suggests better cost control and operational efficiencies.