The company’s consolidated revenue for FY24 was Rs 741.32 crore.
Insolation Energy stated that the growth in revenue reflects strong execution of its strategic initiatives and the positive market dynamics. Additionally, dispatches surged by 81% YoY.
"Given a clear earnings growth trajectory, we believe financial year 2025-26, will be much better than financial year 2024-25, both in terms of revenue and profitability,” the company said in a statement.
It further added: “We are very excited about the upcoming 3GW capacity expansion of our wholly owned subsidiary company Insolation Green Energy Private Limited, out of them 2 GW is scheduled to commence commercial production in the First quarter of FY 2025-26 and remaining 1 GW is scheduled to commence commercial production in the Second quarter of FY 2025-26.
This will increase our total capacity to 4GW, which will enable us to achieve larger revenues by capturing the robust demand.”
The scrip declined 2.83% to currently trade at Rs 231.40 on the BSE.
Insolation Energy is engaged in the business of manufacturing solar panels and modules of high efficiency of various sizes.
The company’s consolidated net profit surged to Rs 61.27 crore in H1 FY25 from Rs 15.04 crore in H1 FY24. Revenue during the period under review increased to Rs 612.03 crore from Rs 278.40 crore posted in the same period last year.
The scrip fell 2.08% to currently trade at Rs 233.20 on the BSE.