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 ₹ 5,051 Cr.
- Current Price ₹ 229
- High / Low ₹ 475 / 207
- Stock P/E 41.4
- 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%
- Company's working capital requirements have reduced from 40.0 days to 13.1 days
Cons
- Stock is trading at 11.5 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
Sector: Capital Goods - Electrical Equipment Industry: Electric Equipment
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: | 6% |
| 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 | 51 | 59 | 54 | 70 | 37 | 13 |
| ROCE % | 40% | 28% | 16% | 8% | 57% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Code of Conduct under SEBI (PIT) Regulations, 2015
1d - Amended Code of Fair Disclosure under SEBI Insider Trading Regulations approved by board on 26 May 2025.
- Announcement under Regulation 30 (LODR)-Investor Presentation 1d
-
Grant Of Options To The Eligible Employees Under - Insolation Energy Employee Stock Option Plan 2024 ('ESOP 2024'/'Plan')
1d - Granted 10,000 ESOP options at Rs.3.8 post share split; cancelled 1,000 prior options under ESOP 2024.
-
Intimation Of Statement Of Deviation Or Variation Under Regulation 32(1) Of SEBI (Listing
Obligations And Disclosure Requirements) Regulations, 2015
1d - No deviation in utilization of Rs.395.19 Cr preferential issue proceeds for Q4 FY25.
-
Announcement under Regulation 30 (LODR)-Change in Management
1d - Board recommends Dr. Subir Bikas Mitra as independent director from July 14, 2025, subject to shareholder approval.
Annual reports
Concalls
-
May 2025TranscriptNotesPPT
Market Position
The company is the 2nd largest North Indian manufacturer of solar panels, batteries, and inverters based in Jaipur, Rajasthan. [1]