Insolation Energy Ltd
NSE: INA BSE: 543620Energy
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]
₹120
52W: ₹79.8 — ₹282
PE 38.3 · Book ₹20 · +500% vs bookMarket Cap₹2,639 Cr
Stock P/E38.3Price to Earnings
ROCE3.26%Return on Capital
ROE2.07%Return on Equity
Div. Yield0.08%Face Value ₹1
Strengths
- +Company is almost debt free.
Weaknesses
- −Stock is trading at 5.97 times its book value
- −The company has delivered a poor sales growth of 5.01% over past five years.
- −Company has a low return on equity of 4.25% over last 3 years.
- −Debtor days have increased from 54.2 to 104 days.
- −Promoter holding has decreased over last 3 years: -3.77%
- −Working capital days have increased from 34.5 days to 69.2 days
Shareholding Pattern
Promoters66.12%
FIIs1.09%
DIIs0.74%
Public32.05%
| Category | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 69.89% | 69.95%▲0.1 | 69.98%▲0.0 | 70.04%▲0.1 | 66.22%▼3.8 | 66.01%▼0.2 | 66.1%▲0.1 | 66.12%▲0.0 |
| FIIs | 0% | 0.04%▲0.0 | 0%▼0.0 | 0.59%▲0.6 | 1.36%▲0.8 | 0.94%▼0.4 | 0.79%▼0.1 | 1.09%▲0.3 |
| DIIs | 0% | 0% | 0% | 0% | 0.15%▲0.1 | 0.42%▲0.3 | 0.55%▲0.1 | 0.74%▲0.2 |
| Public | 30.11% | 30.01%▼0.1 | 30.01% | 29.37%▼0.6 | 32.27%▲2.9 | 32.63%▲0.4 | 32.55%▼0.1 | 32.05%▼0.5 |
Financial Statements
| Metric | Dec 2024 | Sep 2025 | Dec 2025 |
|---|---|---|---|
| Sales | 22.82 | 34.75 | 13.09 |
| Expenses | 23.41 | 30.69 | 8.58 |
| Operating Profit | -0.59 | 4.06 | 4.51 |
| OPM % | -2.59% | 11.68% | 34.45% |
| Net Profit | 1.7 | 5.2 | 3.3 |
| EPS ₹ | 0.08 | 0.24 | 0.15 |
AI Insights
Revenue Trend
Mar 2025 revenue at ₹113Cr, down 50.7% YoY. OPM at 1%.
Debt Position
Borrowings at ₹31Cr. Debt-to-equity ratio: 0.07x. Healthy balance sheet.
Institutional Flow
DIIs: 0.74% (+0.55pp change). FIIs: 1.09% (+1.03pp change). Promoters hold 66.12%.
Margin & Efficiency
ROCE improving from 0% (Mar 2020) to 3% (Mar 2025). Working capital days: 69.
Valuation
PE 38.3x with 3.26% ROCE. Price is 500% above book value of ₹20. Dividend yield: 0.08%.
Recent Announcements
- Announcement under Regulation 30 (LODR)-Monitoring Agency Report 2d - CARE report for quarter ended 31 March 2026 shows full utilization of Rs 395.19 crore preferential issue proceeds.
- Board Meeting Outcome for Disclosure Under Regulation 30 And Other Applicable Regulations Of The Securities And Exchange Board Of India (LODR) Regulations, 2015 ('Listing Regulations'): Outcome Of The Board Meeting 2d - Board approved preferential issue proceeds report for quarter ended 31 March 2026; ESOP allotment to be considered later.
- Board Meeting Intimation for Prior Intimation Of Board Meeting Under Regulation 29 Of The SEBI (LODR) Regulations, 2015 11 May - Board meeting on 15 May 2026 to consider ESOP allotment and preferential issue utilization report.
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 29 Apr - Confirmed not a Large Corporate under SEBI circulars on 29 April 2026.
- E-Voting Result And Scrutinizer Report Of The Postal Ballot 17 Apr - Postal ballot approved appointment of Mr. Shreemat Pandey as Non-Executive Independent Director on 17 April 2026.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse