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 ₹ 1,610 Cr.
- Current Price ₹ 73.0
- High / Low ₹ 184 / 62.0
- Stock P/E 8.27
- Book Value ₹ 36.6
- Dividend Yield 0.00 %
- ROCE 22.4 %
- ROE 28.4 %
- Face Value ₹ 1.00
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 33.3%
Cons
- Contingent liabilities of Rs.1,703 Cr.
- Company might be capitalizing the interest cost
- Debtor days have increased from 34.6 to 47.9 days.
- Promoter holding has decreased over last 3 years: -3.86%
* 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.
Quarterly 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 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| 215 | 279 | 737 | 1,334 | 2,146 | 2,525 | |
| Sales growth | +30% | +164% | +81% | +61% | ||
| 201 | 261 | 656 | 1,171 | 1,855 | 2,222 | |
| Operating Profit | 14 | 19 | 81 | 163 | 290 | 303 |
| OPM % | 6% | 7% | 11% | 12% | 14% | 12% |
| 0 | 1 | 4 | 10 | 16 | 21 | |
| Interest | 3 | 3 | 10 | 9 | 26 | 33 |
| Depreciation | 2 | 2 | 7 | 11 | 36 | 50 |
| Profit before tax | 9 | 14 | 68 | 153 | 245 | 241 |
| Tax % | 26% | 23% | 18% | 18% | 18% | |
| 7 | 11 | 55 | 126 | 201 | 196 | |
| EPS in Rs | 0.46 | 0.51 | 2.66 | 5.70 | 9.10 | 8.84 |
| Dividend Payout % | 0% | 0% | 0% | 2% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 97% |
| TTM: | 61% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 166% |
| TTM: | 60% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 6% |
| 1 Year: | -57% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 33% |
| 3 Years: | 33% |
| Last Year: | 28% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 15 | 21 | 21 | 22 | 22 |
| Reserves | 7 | 32 | 88 | 586 | 785 |
| 31 | 68 | 96 | 120 | 888 | |
| 16 | 38 | 58 | 123 | 460 | |
| Total Liabilities | 70 | 159 | 263 | 851 | 2,155 |
| 9 | 38 | 46 | 88 | 525 | |
| CWIP | 2 | 0 | 1 | 53 | 73 |
| Investments | 0 | 0 | 5 | 39 | 36 |
| 58 | 121 | 210 | 671 | 1,522 | |
| Total Assets | 70 | 159 | 263 | 851 | 2,155 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 9 | -1 | 30 | 27 | -73 | |
| -3 | -29 | -33 | -458 | -186 | |
| 2 | 45 | 28 | 385 | 698 | |
| Net Cash Flow | 8 | 15 | 25 | -46 | 439 |
| Free Cash Flow | 6 | -30 | 13 | -65 | -521 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 63% | -7% | 53% | 33% | -13% |
Ratios
Consolidated / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 28 | 37 | 26 | 30 | 48 |
| Inventory Days | 48 | 75 | 45 | 26 | 81 |
| Days Payable | 24 | 33 | 23 | 24 | 63 |
| Cash Conversion Cycle | 52 | 78 | 48 | 32 | 66 |
| Working Capital Days | 16 | 31 | 6 | 1 | 22 |
| ROCE % | 20% | 48% | 35% | 22% |
Insights
In beta| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Module Manufacturing Capacity MW ・Standalone data |
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| Module Production Volume MW ・Standalone data |
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| Customer Count Customers ・Standalone data |
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| Capacity Utilization % ・Standalone data |
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| Channel Partners Partners ・Standalone data |
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| Module Sales/Dispatch Volume MW ・Standalone data |
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| Order Book (Unexecuted) MW ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Pursuant to Regulation 30 read with Part A of Schedule III of the SEBI (LODR) Regulations, 2015, this is to inform you that an Earnings …
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Board Meeting Intimation for Prior Intimation Of Board Meeting Pursuant To Regulation 29 Of The SEBI (LODR) Regulations, 2015
- Board meets 13 Nov 2026 to approve Q2 and half-year unaudited standalone and consolidated results; trading window closed till 15 Nov.
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Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - Intimation Of Entitlement Certificate For Turnover Linked Incentive And Electricity Duty Exemption Under Rajasthan Investment Promotion Scheme, 2022 (RIPS-2022) For The Solar Module Manufacturing Plant Located At Sawarda, Jaipur, Rajasthan
- Subsidiary received RIPS-2022 entitlement certificate; potential incentives up to Rs.223.90 crore plus electricity duty exemption.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
- We Submit herewith the confirmation Certificate received from Bigshare Service Private Limited, Registrar and Share Transfer Agent (RTA) pursuant to Regulation 74(5) of the SEBI …
- Voting Results And Scrutinizer Report Of 11Th Annual General Meeting (AGM) Of The Company
Annual reports
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Annual Report 2026
from bse
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Annual Report 2025
from bse
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Annual Report 2024
from bse
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Annual Report 2023
from bse
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Annual Report 2022
from web
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Annual Report 2021
from web
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Annual Report 2020
from web
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Annual Report 2019
from web
Concalls
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Aug 2026PPT
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Jun 2026Transcript PPT REC
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Feb 2026Transcript PPT
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Jun 2025Transcript PPT REC
Market Position:[1] [2]
The company holds a prominent position as the largest manufacturer of solar panels, batteries, and inverters in North India, based in Jaipur, Rajasthan. It is ranked amongst the top-10 position PV manufacturers in India.