Insolation Energy Ltd
Incorporated in 2015, Insolation Energy Ltd is engaged in the business of manufacturing solar panels and modules of high efficiency of various sizes. The company's 200 MW SPV Module manufacturing unit is located in Jaipur, spread over more than 60,000 Sq. ft area with the latest machinery.[1]
- Market Cap ₹ 4,625 Cr.
- Current Price ₹ 210
- High / Low ₹ 475 / 206
- Stock P/E 37.9
- Book Value ₹ 19.9
- Dividend Yield 0.00 %
- ROCE 56.6 %
- ROE 49.9 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 109% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 39.7%
Cons
- Stock is trading at 10.6 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -3.76%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 88 | 163 | 215 | 259 | 229 | 1,270 | |
| 81 | 150 | 202 | 246 | 225 | 1,110 | |
| Operating Profit | 7 | 13 | 14 | 12 | 4 | 160 |
| OPM % | 8% | 8% | 6% | 5% | 2% | 13% |
| 0 | 0 | 0 | 1 | 4 | 3 | |
| Interest | 2 | 2 | 3 | 3 | 3 | 7 |
| Depreciation | 1 | 1 | 2 | 2 | 1 | 8 |
| Profit before tax | 5 | 9 | 9 | 8 | 4 | 148 |
| Tax % | 31% | 26% | 26% | 26% | 28% | 17% |
| 3 | 7 | 7 | 6 | 3 | 122 | |
| EPS in Rs | 1.24 | 2.76 | 0.46 | 0.30 | 0.14 | 5.53 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 70% |
| 3 Years: | 81% |
| TTM: | 454% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 109% |
| 3 Years: | 160% |
| TTM: | 4305% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -42% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 40% |
| 3 Years: | 40% |
| Last Year: | 50% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 15 | 21 | 21 | 22 |
| Reserves | 6 | 13 | 7 | 28 | 30 | 416 |
| 12 | 21 | 29 | 40 | 34 | 24 | |
| 6 | 14 | 16 | 16 | 10 | 20 | |
| Total Liabilities | 26 | 50 | 67 | 104 | 95 | 483 |
| 8 | 10 | 9 | 8 | 7 | 9 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 2 | 5 | 8 | 79 |
| 19 | 40 | 56 | 91 | 80 | 395 | |
| Total Assets | 26 | 50 | 67 | 104 | 95 | 483 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 4 | 1 | 10 | -20 | 14 | 130 | |
| -2 | -4 | -1 | -0 | -1 | -210 | |
| -1 | 2 | -3 | 30 | -5 | 51 | |
| Net Cash Flow | 1 | -0 | 6 | 10 | 8 | -29 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 34 | 22 | 28 | 35 | 23 | 9 |
| Inventory Days | 33 | 41 | 48 | 48 | 27 | 8 |
| Days Payable | 21 | 29 | 24 | 19 | 15 | 5 |
| Cash Conversion Cycle | 46 | 33 | 52 | 64 | 35 | 12 |
| Working Capital Days | 23 | 29 | 17 | 42 | 10 | 6 |
| ROCE % | 40% | 28% | 16% | 8% | 57% |
Documents
Announcements
-
Record Date For Payment Of Final Dividend For The Financial Year 2024-25
6h - Final dividend record date set as 16 Sept 2025; payment on/after 30 Sept 2025, subject to AGM approval.
-
Business Responsibility and Sustainability Reporting (BRSR)
7h - Insolation Energy files Business Responsibility & Sustainability Report for FY2024-25 (dated 6 Sep 2025).
- Notice Of The 10Th Annual General Meeting 7h
- Reg. 34 (1) Annual Report. 7h
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
2d - Read with Para A Part A of Schedule III of the SEBI (LODR) Regulations, 2015, as amended, we hereby enclose the copy of Newspaper advertisement …
Annual reports
Concalls
-
Jun 2025Transcript PPT REC
Market Position
The company is the 2nd largest North Indian manufacturer of solar panels, batteries, and inverters based in Jaipur, Rajasthan. [1]