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 ₹ 4,341 Cr.
- Current Price ₹ 197
- High / Low ₹ 475 / 190
- Stock P/E 34.4
- Book Value ₹ 28.0
- Dividend Yield 0.05 %
- ROCE 34.6 %
- ROE 34.8 %
- Face Value ₹ 1.00
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 40.0%
Cons
- Stock is trading at 7.07 times its book value
- 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|
215 | 279 | 737 | 1,334 | |
201 | 261 | 656 | 1,173 | |
Operating Profit | 14 | 19 | 81 | 161 |
OPM % | 6% | 7% | 11% | 12% |
0 | 1 | 4 | 9 | |
Interest | 3 | 3 | 10 | 7 |
Depreciation | 2 | 2 | 7 | 9 |
Profit before tax | 9 | 14 | 68 | 154 |
Tax % | 26% | 23% | 18% | 18% |
7 | 11 | 55 | 126 | |
EPS in Rs | 0.46 | 0.51 | 2.66 | 5.73 |
Dividend Payout % | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 84% |
TTM: | 81% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 163% |
TTM: | 129% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | -48% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 40% |
Last Year: | 35% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|
Equity Capital | 15 | 21 | 21 | 22 |
Reserves | 7 | 32 | 88 | 594 |
31 | 68 | 96 | 108 | |
16 | 38 | 58 | 123 | |
Total Liabilities | 70 | 159 | 263 | 847 |
9 | 38 | 46 | 77 | |
CWIP | 2 | 0 | 1 | 46 |
Investments | 0 | 0 | 5 | 50 |
58 | 121 | 210 | 674 | |
Total Assets | 70 | 159 | 263 | 847 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|
9 | -1 | 61 | 113 | |
-3 | -29 | -17 | -554 | |
2 | 45 | -9 | 394 | |
Net Cash Flow | 8 | 15 | 35 | -46 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|
Debtor Days | 28 | 37 | 26 | 30 |
Inventory Days | 48 | 75 | 44 | 26 |
Days Payable | 24 | 33 | 23 | 24 |
Cash Conversion Cycle | 52 | 78 | 48 | 32 |
Working Capital Days | 16 | 31 | 9 | 2 |
ROCE % | 20% | 48% | 35% |
Documents
Announcements
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Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
4m - Vikas Jain HUF (promoter) submitted Reg 7(2) and Reg 29(2) disclosures; details not provided.
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Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations 2015 - Letter Of Award (LOA) Awarded To Our Subsidiary Companies Insolation Green Infra Private Limited, MGVI Green Infra One Private Limited And MGVI Green Infra Two Private Limited Under PMKUSUM Component A Scheme
3h - Subsidiaries awarded 34 MW PMKUSUM LOAs; ~Rs.113 Cr investment; 25-year O&M; tariffs Rs.2.65–3.02/unit.
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Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 ('SEBI Listing Regulations') - Incorporation Of Step-Down Subsidiaries Of The Company
15h - Insolation Green Energy formed four wholly-owned solar SPVs on 15 Sep 2025, each subscribed with Rs.1,00,000.
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Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 ('SEBI Listing Regulations') - Incorporation Of Step-Down Subsidiary Of The Company
15h - SPV VJMG Green Infra One Pvt Ltd incorporated 14 Sep 2025 for solar plants; Rs.100,000 subscribed by subsidiary.
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 23h
Annual reports
Concalls
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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]