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 ₹ 3,151 Cr.
- Current Price ₹ 143
- High / Low ₹ 282 / 79.8
- Stock P/E 17.8
- Book Value ₹ 31.2
- Dividend Yield 0.07 %
- ROCE 34.7 %
- ROE 34.9 %
- Face Value ₹ 1.00
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 40.0%
Cons
- Company might be capitalizing the interest cost
* 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
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 | |
|---|---|---|---|---|
| 215 | 279 | 737 | 1,334 | |
| 201 | 261 | 656 | 1,172 | |
| Operating Profit | 14 | 19 | 81 | 161 |
| OPM % | 6% | 7% | 11% | 12% |
| 0 | 1 | 4 | 9 | |
| Interest | 3 | 3 | 10 | 8 |
| 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% | 2% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 84% |
| TTM: | 40% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 163% |
| TTM: | 43% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 119% |
| 1 Year: | -42% |
| 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 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 15 | 21 | 21 | 22 | 22 |
| Reserves | 7 | 32 | 88 | 594 | 666 |
| 31 | 68 | 96 | 108 | 257 | |
| 16 | 38 | 58 | 123 | 289 | |
| Total Liabilities | 70 | 159 | 263 | 847 | 1,234 |
| 9 | 38 | 46 | 77 | 317 | |
| CWIP | 2 | 0 | 1 | 46 | 68 |
| Investments | 0 | 0 | 5 | 50 | 41 |
| 58 | 121 | 210 | 674 | 808 | |
| Total Assets | 70 | 159 | 263 | 847 | 1,234 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 9 | -1 | 30 | 113 | |
| -3 | -29 | -33 | -554 | |
| 2 | 45 | 28 | 394 | |
| Net Cash Flow | 8 | 15 | 25 | -46 |
| Free Cash Flow | 6 | -30 | 13 | 28 |
| CFO/OP | 63% | -7% | 53% | 87% |
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 | 45 | 26 |
| Days Payable | 24 | 33 | 23 | 24 |
| Cash Conversion Cycle | 52 | 78 | 48 | 32 |
| Working Capital Days | 16 | 31 | 6 | 2 |
| ROCE % | 20% | 48% | 35% |
Insights
In beta| Mar 2017 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | May 2025 | |
|---|---|---|---|---|---|---|---|
| Solar Module Manufacturing Capacity MW |
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| Solar Module Sales Volume MW ・Includes some standalone data |
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| Geographic Reach (Districts) Number |
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| Number of Channel Partners/Dealers Number |
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| Order Book ₹ Crores |
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Extracted by Screener AI
Documents
Announcements
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E-Voting Result And Scrutinizer Report Of The Postal Ballot
2d - Postal ballot approved appointment of Mr. Shreemat Pandey as Non-Executive Independent Director on 17 April 2026.
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Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
2d - Postal ballot approved Mr. Shreemat Pandey’s appointment as Non-Executive Independent Director on 17 April 2026.
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Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot
2d - Postal ballot approved Mr. Shreemat Pandey’s appointment as independent director for five years.
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Clarification On Significant Movement In The Price Of Security Of Insolation Energy Limited Across Exchanges
14 Apr - Insolation Energy clarified 14 Apr 2026 price movement was market-driven and disclosed all material information.
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Clarification sought from Insolation Energy Ltd
13 Apr - Exchange has sought clarification from Insolation Energy Ltd on April 13, 2026 with reference to significant movement in price, in order to ensure that investors …
Annual reports
Concalls
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Feb 2026Transcript PPT
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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]