Indosolar Limited has officially completed the disbursement of net proceeds from the sale of fractional share entitlements pursuant to its NCLT-approved Resolution Plan on April 28, 2026. The company formally notified both the National Stock Exchange of India Limited and BSE Limited about this significant milestone in its corporate restructuring process.

NCLT Resolution Plan Framework

The disbursement follows the Order dated April 21, 2022, passed by the Hon'ble National Company Law Tribunal (NCLT), which approved the Resolution Plan for Indosolar Limited. The Resolution Plan provided for a reduction of the company's paid-up share capital in accordance with the Insolvency and Bankruptcy Code, 2016, and the Companies Act, 2013.

Fractional Share Entitlements Process

The share capital reduction resulted in fractional share entitlements for certain eligible shareholders, which could not be allotted as whole numbers. These fractional entitlements were consolidated and transferred to M/s MUFG Intime Private Limited, acting as Trustee, for sale in the open market on behalf of eligible shareholders.

Regulatory Compliance and Stock Exchange Filing

The company filed the completion notice with stock exchanges under Regulation 30, confirming that the sale of fractional share entitlements and disbursement of net proceeds were carried out in full compliance with multiple regulatory frameworks:

• NCLT Resolution Plan approved via Order dated April 21, 2022
• Insolvency and Bankruptcy Code, 2016, and regulations thereunder
• Companies Act, 2013, and rules made thereunder
• SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Official Communication and Documentation

The filing was signed by Akalpita Harnish Patel, Company Secretary and Compliance Officer (Membership No-ACS40528), confirming the completion of this important milestone. The company communicated the disbursement completion to concerned shareholders on April 28, 2026, through email notifications, ensuring transparency in the resolution process.

The official stock exchange filing provides comprehensive details of the regulatory compliance framework and marks the successful conclusion of the fractional share entitlement process under the NCLT-approved restructuring plan.

Indosolar has delivered exceptional financial performance for FY26, demonstrating a remarkable business turnaround with substantial growth in both revenue and profitability. The company's board meeting on April 20, 2026, approved the standalone audited financial results alongside key management appointments to support continued growth.

Outstanding Annual Performance

Indosolar achieved remarkable growth across all key financial metrics for FY26, reflecting the successful turnaround of its operations and the full impact of commercial production at its Greater Noida facility.

Mixed Q4 Performance

The fourth quarter results showed contrasting trends, with profitability maintaining momentum despite revenue decline due to business mix changes.

The quarterly revenue decline was attributed to substantial revenue from tolling contracts compared to direct distribution and trading revenue in the corresponding quarter of the previous year.

Strategic Leadership Appointments

The board approved several key appointments to strengthen the management team and governance structure:

Regulatory Compliance

In compliance with SEBI Regulation 47, the company published its Q4FY26 financial results in newspapers on April 22, 2026. The results were published in Financial Express (English) and Janasatta (Hindi), with the same information made available on the company's website at www.indosolar.co.in .

Management Commentary

Commenting on the results, Mr. Jignesh Rathod, Director and Chief Executive Officer, highlighted the significance of FY26 as a turnaround year. He emphasized meaningful improvements in cost efficiency, manufacturing, and operations that contributed to enhanced margin outcomes. The company has also invested in upgrading technology capabilities, including the introduction of G12 solar module manufacturing to offer higher-efficiency products aligned with current market demand.

Company Profile

Indosolar Limited operates a 1.3 GW module manufacturing facility in Noida and is a subsidiary of Waaree Energies Limited, India's largest solar module manufacturer. The company's strong performance reflects its position in India's expanding solar energy sector and successful operational improvements.