Indosolar Ltd.
Snapshot View

2.89 +0.07 ▲2.5%

27 July 2021, 12:01:00 P.M.
Volume: 59,234

Overview View Details

Sector Electricals Compare with Sector peers
Industry Electronics - Components Compare with Industry peers
Website http://www.indosolar.co.in
Financial Indicators
Market Cap 104.92 Cr.
Earnings per share (EPS) -0.22 Trailing Twelve Months Ending 2020-03
Price-Earning Ratio (PE) - Trailing Twelve Months Ending 2020-03
Industry PE 47.50 Trailing Twelve Months Ending 2020-03
Book Value / Share -26.43 Trailing Twelve Months Ending 2020-03
Price to Book Value -0.11 Calculated using Price: 2.82
Dividend Yield 0.00 Period Ending 2018-03
No. of Shares Subscribed 37.21 Cr. 372,067,116 Shares
FaceValue 10
Company Profile

Indo solar was incorporated on April 8, 2005 as “Robin Garments Private Limited”. The name of the company changed to Indo solar with a fresh certificate of incorporation on July 21, 2008 thus changing its status to a public limited company.

The company is one of the few companies selected for grant of financial incentives under the “Special Incentive Package Scheme” of 2007 notified by the Government of India and has been granted an in principle approval on June 1, 2009 by Ministry of Communication and Information Technology, Government of India. The manufacturing facility at Greater Noida has been granted the status as an’ Export Oriented Unit’ (“EOU”) under the Foreign Trade Policy 2009-2014 of the Government of India pursuant to which the company enjoys certain benefits, including free importability and entitlement to avail of certain direct and indirect tax exemptions.

The company manufactures poly-crystalline solar photo-voltaic (“SPV”) cells from silicon wafers utilizing crystalline silicon SPV cell technology for converting sunlight directly into electricity through a process known as the “photo-voltaic effect”. They market and sell products to primarily module manufacturers on a business-to-business (“B2B”) platform, who in turn supply to the system integrators who install the systems for grid and off-grid (roof top) applications for use in the domestic market as well as markets in Europe, Spain, Japan, Asia, Canada and USA.

The company commenced work for setting up of SPV cell manufacturing facility in Greater Noida in January 2008. It has established one SPV cell manufacturing line having an annual manufacturing capacity of 80 MW and commenced commercial production in July 2009. The second SPV cell manufacturing line having an annual manufacturing capacity of 80 MW is expected to commence commercial production of SPV cells in March 2010. In order to prepare for an increase in demand for SPV products in the future and to enhance scale to a competitive level, It plans to increase the annual manufacturing capacity to approximately 260 MW by 2011, with an additional manufacturing line of annual manufacturing capacity of 100 MW.

Indo solar uses a fully automated horizontal in-line, state-of-the-art technology for manufacture of SPV cells which offer high average efficiency levels of up to 16%. They have entered into arrangements with Schmid, one of the operators in SPV cell manufacturing technology and a vertically integrated player in the SPV cell industry, for delivery, installation and commissioning of the plant and machinery at their facility, on turnkey basis. As part of the manufacturing capacity expansion plans, it proposes to install a SPV manufacturing line with ‘selective emitter’ technology to be commissioned by their turnkey provider, Schmid. ‘Selective emitter’ technology will give capability to produce improved SPV cells of higher average efficiency up to 17.20%. Their  research and development team comprising three solarphoto-voltaic and semi conductor researchers and scientists focuses on continually enhancing their SPV cell Conversion Efficiencies and improving their manufacturing operations.

The company is associated with the Semiconductor Equipment and Materials International,USA, Indian Semiconductor Association and Solar Energy Society of India (“SESI”). One of its Promoters, Mr. Hulas Rahul Gupta, is convener of the industry wing of SESI.

Group Companies:-

  • Delton Cables
  • Vishranti Trading Enterprises
  • Saneh Industrial Investments
  • Senor Microwaves Private
  • Element Arts Private 
  • Viga Trade Solutions Private
  • B & M Trading and Investment Co. Limited Greenlite Global Inc.
  • Greenlite Lighting Corporation

Milestones :-

November 21, 2005 - Execution of lease deed with the GNIDA for grant of 27158.78 square meter of land

January 15, 2008 - Execution of joint business development agreement with the Transferor Company

January 13, 2008 - Execution of supply agreement with Schmid for planning, supply, installation and commission of first line of the solar cell project.

February 14, 2008 - Change of the object of the Company from the business of readymade garments to solar energy cells.

August 31, 2008 - Execution of lease agreement by the Transferor Company to lease the equipments to the Company.

October 15, 2008 - Grant of EOU status .

September 7,2009 - Grant of occupancy certificate of Industrial building erected on Plot No 3C/1, Ecotech –II Sector, Udhyog Vihar from GNIDA.

January 16, 2009 - Execution of facility agreement for grant of loan by a consortium of banks led by Union Bank of India

July 17, 2009 - Commencement of commercial production of SPV cells with one manufacturing line having an annual manufacturing capacity of 80 MW.

September 16,2009 - Approval of the Scheme by the High Court of Delhi at New Delhi.

September 24, 2009 - Filing of the Scheme with the ROC by the Transferor Company and Company.

September 25, 2009 - Grant of Equity Shares in the proportion of 1:1 to the shareholders of Transferor Company, pursuant to the terms of the Scheme.

2009-  Time overrun with respect to installation of its first SPV cell manufacturing line cost over run in relation to the two manufacturing lines for its SPV cell.

2010  -Indosolar inks one of the largest deals in solar energy with GCL-Poly.

2011 -The Company has entered into a Memorandum of Understanding with GCL Solar System Limited, China to explore the possibility of development of solar farms in India.

Delivery View Details

Delivered Qty
Traded Qty

Performance View Details

1 Day
+2.48%
1 Week
-5.86%
1 Month
-21.68%
3 Month
+58.79%
6 Month
+3.21%
1 Year
+147.01%
2 Year
+270.51%
5 Year
-66.97%
8 years 2011-03 2012-03 2013-03 2014-03 2015-03 2016-03 2017-03 2018-03
Return on Equity (%) -21.32 -65.32 -83.69 -777.95
Return on Capital Employed (%) 1.26 -15.01 -6.53 -5.71 2.68 -1.86 7.16 -21.92
Return on Assets (%) -6.36 -19.38 -11.12 -11.89 -6.84 -12.69 -5.22 -17.51

Balance Sheet View Details

Particulars 8 years 2011-03 Rs. Cr. 2012-03 Rs. Cr. 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr.
Shh. Funds 412 210 96 -41 -97 -238 -299 -457
Non Curr. Liab. 276 789 902 796 598 493 5 305
Curr. Liab. 313 88 145 406 624 847 1,410 895
Minority Int.
Equity & Liab. 1,002 1,087 1,142 1,161 1,125 1,102 1,116 744
Non Curr. Assets 746 1,021 1,068 1,105 1,056 1,052 1,041 699
Curr. Assets 253 65 74 56 69 50 75 44
Misc. Exp. not W/O 3
Total Assets 1,002 1,087 1,142 1,161 1,125 1,102 1,116 744

Profit Loss View Details

Particulars 8 years 2011-03 Rs. Cr. 2012-03 Rs. Cr. 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr.
Net Sales 582 92 53 16 296 258 442 314
Other Income 9 5 3 2 4 2 3 4
Total Income 591 97 56 18 300 260 445 318
Total Expenditure -561 -206 -82 -44 -248 -248 -368 -336
PBIDT 30 -109 -26 -26 52 12 77 -17
Interest -68 -59 -59 -81 -103 -126 -106 -54
Depreciation -52 -34 -39 -30 -27 -27 -29 -28
Taxation 0 0 0
Exceptional Items 32 1 -64
PAT -57 -202 -124 -137 -78 -141 -58 -163

Cash Flow View Details

Particulars 8 years 2011-03 Rs. Cr. 2012-03 Rs. Cr. 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr.
Cash Fr. Operatn. -36 -4 -26 -23 79 16 55 29
Cash Fr. Inv. -224 -170 -77 -4 -61 -2 -28 -8
Cash Fr. Finan. 243 180 97 28 -10 -24 -21 -25
Net Change -17 6 -6 2 8 -9 6 -4
Cash & Cash Eqvt 0 6 0 2 10 1 7 3

Shareholding Pattern View Details

9 Qtrs 2019-03 (%) 2019-06 (%) 2019-09 (%) 2019-12 (%) 2020-03 (%) 2020-06 (%) 2020-09 (%) 2020-12 (%) 2021-03 (%)
Promoter 56.90 56.90 56.90 56.90 56.90 56.90 56.90 56.90 56.90
Public 43.10 43.10 43.10 43.10 43.10 43.10 43.10 43.10 43.10
Depository Receipts 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Promoter Holding Pledge (%) 64.66 64.66 64.66 64.66 64.66 64.66 64.66 64.66 64.66

Announcements View Details

Fri, 21 May 2021
Certificate Under Regulation 40(9) Of The SEBI (LODR) Regulations 2015 For Half Year Ended 31.03.2021.
In compliance with regulation 40(9) of the SEBI (LODR) Regulations 2015 the Certificate duly signed by M/s. Deepanshi Jain & Associates Practicing Company Secretaries is attached herewith for your records.
Tue, 20 Apr 2021
Shareholding for the Period Ended March 31 2021
Indosolar Ltd has submitted to BSE the Shareholding Pattern for the Period Ended March 31 2021. For more details kindly Click here
Tue, 20 Apr 2021
Compliance Certificate For The Half-Year Ended March 31 2021.
Pursuant to Regulation 7(3) of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015 please find enclosed the Compliance Certificate for the half-year ended March 31 2021.

Technical Scans View Details

Mon, 26 Jul 2021
Strongly Outperforming Benchmark Index Strongly Outperforming Benchmark Index
Decreasing Relative Strength - Benchmark index Decreasing Relative Strength - Benchmark index
Strongly Outperforming Sectoral Index Strongly Outperforming Sectoral Index
Decreasing Relative Strength - Sectoral index Decreasing Relative Strength - Sectoral index
Close Crossing 50 EMA From Above Close Crossing 50 EMA From Above

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