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 ₹ 2,677 Cr.
- Current Price ₹ 122
- High / Low ₹ 282 / 79.8
- Stock P/E 13.3
- Book Value ₹ 36.6
- Dividend Yield 0.08 %
- ROCE 22.2 %
- ROE 28.2 %
- Face Value ₹ 1.00
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 33.1%
Cons
- 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: -3.77%
* 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 | Mar 2026 | |
|---|---|---|---|---|---|
| 215 | 279 | 737 | 1,334 | 2,146 | |
| 201 | 261 | 656 | 1,172 | 1,859 | |
| Operating Profit | 14 | 19 | 81 | 161 | 287 |
| OPM % | 6% | 7% | 11% | 12% | 13% |
| 0 | 1 | 4 | 9 | 18 | |
| Interest | 3 | 3 | 10 | 8 | 24 |
| Depreciation | 2 | 2 | 7 | 9 | 36 |
| Profit before tax | 9 | 14 | 68 | 154 | 245 |
| Tax % | 26% | 23% | 18% | 18% | 18% |
| 7 | 11 | 55 | 126 | 201 | |
| EPS in Rs | 0.46 | 0.51 | 2.66 | 5.73 | 9.10 |
| 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: | 59% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 110% |
| 1 Year: | -47% |
| 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 | 594 | 785 |
| 31 | 68 | 96 | 108 | 888 | |
| 16 | 38 | 58 | 123 | 460 | |
| Total Liabilities | 70 | 159 | 263 | 847 | 2,155 |
| 9 | 38 | 46 | 77 | 525 | |
| CWIP | 2 | 0 | 1 | 46 | 73 |
| Investments | 0 | 0 | 5 | 50 | 36 |
| 58 | 121 | 210 | 674 | 1,522 | |
| Total Assets | 70 | 159 | 263 | 847 | 2,155 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 9 | -1 | 30 | 113 | -73 | |
| -3 | -29 | -33 | -554 | -186 | |
| 2 | 45 | 28 | 394 | 698 | |
| Net Cash Flow | 8 | 15 | 25 | -46 | 439 |
| Free Cash Flow | 6 | -30 | 13 | 28 | -521 |
| CFO/OP | 63% | -7% | 53% | 87% | -13% |
Ratios
Consolidated Figures in Rs. Crores / 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 | 62 |
| Cash Conversion Cycle | 52 | 78 | 48 | 32 | 66 |
| Working Capital Days | 16 | 31 | 6 | 2 | 22 |
| ROCE % | 20% | 48% | 35% | 22% |
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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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
5m - Audio recording of earnings call on FY26 audited results uploaded on 27 May 2026.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
8h - Pursuant to Regulation 47 and other applicable Regulations of SEBI (LODR), 2015, we submit herewith copies of Newspaper Publication of Audited Financial Results (Standalone and …
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Announcement under Regulation 30 (LODR)-Investor Presentation
24h - Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, we are enclosing herewith the Investor Presentation on Audited Financial Results (Standalone and Consolidated) of …
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
1d - Insolation Energy reported FY26 results; revenue ₹2,163.52 Cr, PAT ₹200.63 Cr, and Main Board migration.
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Intimation Of Statement Of Deviation Or Variation Under Regulation 32(1) Of SEBI (LODR) 2015
1d - No deviation in utilisation of Rs 395.19 crore preferential issue proceeds for quarter ended 31 March 2026.
Annual reports
Concalls
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May 2026TranscriptAI SummaryPPT
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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]