Indian solar manufacturer Insolation Energy Ltd today announced its financial results for the fiscal year ended March 31, 2025. The company reported a revenue of INR 1,333.8 crore for FY25, marking an 80.9% year-on-year (YoY) increase from INR 737.2 crore in FY 2024. Profit after tax surged 127.5% YoY to INR 126.2 crore.
Manish Gupta, chairman of Insolation Energy, attributed the growth in consolidated revenues to strong performance across all business segments. He noted that the company has expanded its footprint in Central and South India, establishing itself as a national player in the solar sector.
To achieve greater scale, Insolation is setting up a 3 GW solar module manufacturing line at its new Unit 3 facility in Jaipur. Approximately 80% of the construction work is already complete, and the module line is expected to become operational by the end of Q1 FY26. Additionally, the company is establishing a 3 GW solar cell line and an aluminum frame manufacturing capacity of 54,000 mta at a new site in Narmadapuram, Madhya Pradesh. “We have already secured possession of the land and placed machinery orders. We expect construction to begin by the end of Q1 FY26 and operations to commence in H1 FY27,” Gupta said.
Gupta further highlighted that Insolation Energy’s subsidiary, Insolation Green Infra, is witnessing strong traction in its EPC and IPP projects. The company aims for the subsidiary to achieve a topline of INR 1,000 crore over the next three years.
“We expect these expansions to significantly boost our topline, with aspirational targets of INR 3,000+ crore in FY26, INR 5,500+ crore in FY27, and INR 8,500+ crore in FY28. Correspondingly, we anticipate profit after tax to rise to INR 350+ crore in FY26, INR 800+ crore in FY27, and INR 1,350+ crore in FY28. Overall, we believe our growth strategy will deliver greater value to all stakeholders,” he added.
Vikas Jain, managing director of Insolation Energy, stated, “We saw benefits of scale accruing to our EBITDA resulting in margin increase of 120 bps to 12.1%. We continue to see increased acceptance of our products resulting in volume expansion. Our operational efficiency resulted in a robust ROCE of 60.1% and strong cash flow from operations of INR 113.1 crores.”
Jain added that Insolation Energy has a strong order book of more than INR 2,000 crores on consolidated basis across all verticals including module supplies, KUSUM projects, and EPC contracts across both government and private sectors.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.