H1 2024-25: Insolation Energy Sales Surge 118% To Rs. 928.34 Cr

Rajasthan-based Solar module manufacturer Insolation Energy, in its consolidated performance update for the nine months ended on 31st December 2024, secured consolidated provisional sales of Rs. 928.34 crores, marking a significant increase from Rs. 482.5 crores during the same period ended 31st December 2023. As a firm listed on the BSE SME board, reporting obligations are not as onerous for such firms, including quarterly reporting.

Insolation Energy added, “Given a clear earnings growth trajectory, we are in line with our aspirations for the top line for the full year, and we believe H2 of 2024-25 will be much better than H1 of 2024-25, both in terms of revenue and profitability.”

The company added, “This represents a growth of more than 92.40%, reflecting the strong execution of our strategic initiatives and the positive market dynamics. The management stated that the company is looking forward to achieving more milestones. Insolation Energy’s EPC business, which had close to Rs. 700 Crores in its order book, will also start contributing from Q4 of FY 2024-25. We are very excited about our upcoming 3GW capacity, which is scheduled to commence commercial production in April 2025. This will increase our total capacity to 4GW, enabling us to achieve larger revenues by capturing the robust demand. We look forward to increasing revenue and profits substantially, given our 4GW capacity increase in FY26.”

Last year in October Insolation Energy’s (INA Solar) financial results for the first half of FY25 revealed that the firm reported an increase in its total revenue and net profits in H1FY25, compared to H1 of FY24. The financial results said that the company led by Manish Gupta reported a total revenue of Rs 61,269.61 lakh in H1FY25. This is against the last half-yearly (H2FY24) revenue of Rs 46,125.56 lakh. Meanwhile, the company earned a total revenue of Rs 28,006.61 lakh in H1FY24. Thus on a Year-on-Year (YoY), the company’s half-yearly income increased by 118%.

Company’s Expansion Plans Beyond Rajasthan

The Board of Directors of Insolation Energy (INA Solar) has now approved the plan to commission its new solar cell, module, and Aluminium frame manufacturing facility in Madhya Pradesh. This latest development marks its first investment in solar manufacturing outside Rajasthan. This comes after the Madhya Pradesh government offered land to the company in the Narmadapuram district of the state to set up solar manufacturing units.

In its latest filing before the exchanges, the company announced the approval of its Board for the plan.

The proposed plant will come up on 45 acres (approximately 1,82,108.5 square meters) of land located and allocated in the Madhya Pradesh Zone for Power and Renewable Energy Equipment at Mohasa, Babai, District Narmadapuram. The land is intended for the establishment of a manufacturing unit for Solar PV Modules, Solar Cells, and Aluminum Frames. The allotment comes with various special benefits/concessions.