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 ₹ 2,600 Cr.
- Current Price ₹ 118
- High / Low ₹ 282 / 79.8
- Stock P/E 13.0
- 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: | 113% |
| 1 Year: | -56% |
| 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
11 Jun - Insolation Energy held an analyst and institutional investor meeting on 11 June 2026; no UPSI discussed.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 Jun - Insolation Energy to meet analysts and institutional investors on 23 June 2026 at The St. Regis, Mumbai.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 Jun - Pursuant to Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015, this is to inform you that representatives of the Company ....
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Announcement under Regulation 30 (LODR)-Newspaper Publication
4 Jun - Pursuant to Regulation 30 read with Schedule III of SEBI (LODR) Regulations, 2015, We herby enclose copies of newspaper advertisement published in ''''Financial Express" (English …
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 3 Jun
Annual reports
Concalls
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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.