Indosolar Limited (WAAREEINDO.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-2434.2%

-₹4,527.96

vs ₹193.98 price

Levered DCF

-₹15,295.81

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

6.04

Safe zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	6.48×	13.16×	-88.95×	1.85×	-1.06×	-9.76×	-2.27×	-0.15×
P/B	5.57×	17.84×	-95.61×	1,859.24×	-0.12×	-0.08×	-0.02×	-0.08×
P/S	2.35×	2.23×	1,615.92×	1,768.82×	683.65×	118.86×	0×	5.91×
EV / EBITDA	5.88×	7.91×	-2,415.55×	-2,393.58×	-124.04×	-148.53×	-29.9×	-2.01×
Gross margin	42.7%	33.0%	100.0%	-375.9%	-3729.8%	100.0%	0.0%	-276.7%
Operating margin	34.4%	20.9%	-30.2%	-552.1%	-4.7%	-1317.2%	0.0%	-368.9%
Net margin	36.3%	16.9%	-1816.7%	95602.6%	-64208.8%	-1217.5%	0.0%	-3970.3%
Current ratio	6.7×	0.81×	0.31×	0.12×	0.01×	0.02×	0.02×	0.02×
Debt / equity	0.01×	1.24×	-7.08×	58.6×	-0.74×	-0.04×	-0.04×	-0.84×
Interest coverage	184.37×	4.91×	-0.03×	-5.66×	-90×	-5,734.4×	-208.41×	-0.96×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	85.9%	135.5%	107.5%	100489.9%	10.9%	0.8%	0.8%	53.5%
Return on invested capital	75.8%	62.2%	-0.2%	-9.7%	0.0%	0.9%	1.0%	32.0%
Return on assets	71.6%	22.8%	-10.3%	1655.0%	-105.4%	-3.3%	-3.3%	-202.8%
Free cash flow yield	3.3%	8.9%	-3.0%	-0.9%	-0.4%	-0.8%	-2.9%	11.6%
Earnings yield	15.4%	7.6%	-1.1%	54.0%	-93.9%	-10.2%	-44.0%	-671.9%
Enterprise value	₹16B	₹7.6B	₹14.7B	₹20.6B	₹9.6B	₹1.2B	₹585.9M	₹9.1B
Net debt / EBITDA	0.01×	0.39×	-165.08×	-72.17×	-107.2×	-51.61×	-20.22×	-1.84×
Cash conversion cycle (days)	114	-9	-76	-220	-4,421	-4,097	-4,090	-1,618