Indian solar module manufacturer Insolation Energy Ltd has reported a revenue of INR 1,352 crore for the first nine months of FY 2025-26, a 44% year-on-year growth, while Q3 FY26 revenue increased by 77% YoY to INR 575.3 crore.
EBITDA for 9M FY26 stood at INR 195.5 crore with a margin of 14%, while Q3 FY26 EBITDA grew by 175% YoY to INR 81.7 crore.
Profit after tax (PAT) stood at INR 130.8 crore for 9M FY26 and INR 50.7 crore for Q3 FY26.
“This strong performance [in Q3] was driven by an improved product mix, stringent cost controls, and operating leverage. Despite volatility in sector pricing, we have maintained EBITDA margins of 14% and surpassed our full-year FY25 performance within the first nine months of FY26,” said Manish Gupta, Chairman, Insolation Energy Ltd.
Operational highlights
During Q3 FY26, the company produced 356 MW of PV modules and dispatched 364 MW. The total installed solar module capacity has reached 5.5 GW.
A strong order book of 2.1 GW provides clear demand visibility for the upcoming quarters.
The company said its solar cell and aluminium frame manufacturing unit at Narmadapuram, Madhya Pradesh, is progressing as per schedule.
“Automation, quality, and end-to-end manufacturing control remain central to our strategy. This expansion enables greater control over the value chain, ensuring sustainable competitive advantage and scalable long-term growth,” said Vikas Jain, managing director, Insolation Energy Ltd.
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