Indosolar’s standalone margin trails Industrials peers by 1.51 points
Q2FY27 net profit was Rs 5.02 cr, with depreciation of Rs 9.63 cr and other income of Rs 1.58 cr shaping pre-tax profit.
Filed 21 Oct 2026, 19:26 IST · after market close · Indosolar Ltd (WAAREEINDO)
Key takeaways
- Indosolar reported standalone net profit of Rs 5.02 cr after depreciation of Rs 9.63 cr reduced profit before tax to Rs 6.71 cr.
- Its standalone operating margin of 9.52% was 1.51 percentage points below the 11.03% median for 21 Industrials peers.
- The stock fell 1.87% in the session after the results, after opening down 4.21% on 1.51x its usual volume.
Price around the results
Depreciation weighed on standalone profit conversion
Standalone operating profit of Rs 14.82 cr translated into profit before tax of Rs 6.71 cr after depreciation of Rs 9.63 cr and interest of Rs 0.06 cr. Other income of Rs 1.58 cr supplemented pre-tax profit, so earnings were not solely operating-generated. Tax at a 25.21% rate reduced profit before tax to net profit of Rs 5.02 cr, with EPS at Rs 1.20.
Operating margin below the Industrials peer median
Indosolar's standalone operating margin of 9.52% was 1.51 percentage points below the 11.03% median among 21 Industrials companies that had reported the same quarter. That places its margin below the sector midpoint for this reporting set.
Stock reaction was negative after a post-close filing
The company filed its standalone results after market close on 21 October 2026. On 22 October, the stock opened down 4.21% and ended 1.87% lower, underperforming its benchmark by 1.33 percentage points. Trading volume was 1.51 times the usual level.
Q2FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 |
|---|---|
| Revenue | ₹156 cr |
| Other income | ₹2 cr |
| Expenses | ₹141 cr |
| Operating profit | ₹15 cr |
| Operating margin (%) | 9.52% |
| Interest | ₹0 cr |
| Depreciation | ₹10 cr |
| Profit before tax | ₹7 cr |
| Tax | ₹2 cr |
| Net profit | ₹5 cr |
| EPS (₹) | ₹1.20 |
Operating margin of 9.52% compares with a Industrials sector median of 11.03% across 21 peers that have reported Q2FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | -1.87% | -1.33% |
Volume on the results session was 1.51× its 20-day average.
What to watch
- Whether standalone operating margin moves above or below the 9.52% reported this quarter.
- Whether depreciation remains a material drag relative to the Rs 9.63 cr reported this quarter.
- Whether net profit conversion improves from the Rs 6.71 cr profit-before-tax and Rs 5.02 cr net-profit outcome.