Insolation Energy Limited INA NSETECH

Technology · Solar · India

https://www.insolationenergy.in

Insolation Energy Limited engages in the manufacture and sale of solar panels and modules under INA brand name in India. The company provides monocrystalline passive emitter and rear cell and polycrystalline solar photovoltaic (PV) modules for use in various applications, such as on-grid large scale utility system, on-grid rooftop residential and commercial system, net metering solution, off-grid residential system, solar pumping applications, rural electrification, green telecom tower, solar street light, solar home lighting system, solar lantern, solar traffic signal, solar electric vehicle charging station, etc. It also offers solar power conditioning units and tall tabular lead acid batteries in combination; and provides solar modules for ground mounted and rooftop solar projects. Insolation Energy Limited was incorporated in 2015 and is headquartered in Jaipur, India.

Market & Price

Market Cap

₹2,783.17 Cr

Current Price

₹126.25

High / Low (52W)

₹156.43 / ₹82.18

Beta

0.50

Valuation

Stock P/E

13.87

Industry PE

25.13

Forward P/E

PEG Ratio

Book Value

₹31.18

Price to Book

4.05

P/S

1.30

EV/EBITDA

11.00

Dividend Yield

Profitability & Returns

ROCE

19.25%

ROE

28.15%

ROA

10.46%

Profit Margin

9.33%

Op Margin

12.05%

EPS (Latest Qtr)

₹3.17

EPS (TTM)

₹9.10

Balance Sheet & Liquidity

Debt/Equity

1.10

Quick Ratio

1.06

Current Ratio

1.86

Debt

₹887.92 Cr

Total Assets

₹2,155.13 Cr

Current Assets

₹1,409.71 Cr

Working Capital

₹651.42 Cr

Ownership

Promoter Holding

67.68%

Chg in Prom Hold

FII / Inst Holding

0.45%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹3,159.11 Cr

Total Revenue (TTM)

₹2,146.02 Cr

EBITDA

₹287.12 Cr

Free Cash Flow

₹-666.98 Cr

Operating Cash Flow

₹-73.13 Cr

Shares Outstanding

₹22.04 Cr

Gross Margin

20.06%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

97.62%

Profit 5Y

165.63%

Revenue (YoY)

100.10%

Earnings (YoY)

58.50%

PROS

Strong return on equity of 28.2%.
Compounding revenue at 97.6% over 5 years.
Profit CAGR of 165.6% over 5 years.

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	INA Insolation Energy Limited NSETECH	126.25	13.87	₹2,783.17 Cr	-	19.25%	28.15%	97.62%	165.63%
2	TCS Tata Consultancy Services Limited NIFTY50NSEAITECH	2,258.90	16.61	₹8.17 L Cr	5.49%	54.93%	48.40%	5.80%	5.30%
3	INFY Infosys Limited NIFTY50NSEAITECH	1,160.90	15.01	₹4.70 L Cr	4.31%	41.66%	31.44%	3.44%	3.58%
4	HCLTECH HCL Technologies Limited NIFTY50NSEAITECH	1,183.80	19.31	₹3.20 L Cr	8.11%	27.21%	23.36%	8.65%	3.87%
5	WIPRO Wipro Limited NIFTY50NSEAITECH	204.25	16.26	₹2.14 L Cr	8.32%	18.42%	15.49%	4.05%	2.44%
6	TECHM Tech Mahindra Limited NIFTY50NSEAITECH	1,483.90	27.40	₹1.31 L Cr	3.44%	20.60%	16.61%	2.16%	-0.14%
7	LTM LTM Limited NSETECH	4,061.60	24.04	₹1.20 L Cr	1.85%	25.39%	21.29%	8.43%	4.41%
8	LGEINDIA LG ELECTRONICS INDIA LTD NIFTY_MIDNSETECH	1,523.90	61.35	₹1.03 L Cr	-	27.64%	24.72%	0.98%	-
9	WAAREEENER WAAREE ENERGIES LIMITED NIFTY_MIDNSETECH	3,140.80	27.70	₹90,345.53 Cr	0.13%	24.21%	31.57%	71.63%	191.18%

Quarterly Results

Figures in INR.

Metric	Dec 2024	Mar 2025	Dec 2025	Mar 2026
Revenue	324.96 Cr	396.77 Cr	575.34 Cr	793.93 Cr
Cost of Revenue	286.62 Cr	315.42 Cr	479.02 Cr	627.24 Cr
Gross Profit	38.34 Cr	81.35 Cr	96.32 Cr	166.69 Cr
Operating Expenses	16.99 Cr	26.95 Cr	33.34 Cr	71.00 Cr
Operating Income	21.35 Cr	54.40 Cr	62.98 Cr	95.69 Cr
EBITDA	29.73 Cr	57.07 Cr	81.72 Cr	109.10 Cr
Interest Expense	4.22 Cr	88.44 L	7.97 Cr	7.85 Cr
Pretax Income	22.57 Cr	53.21 Cr	61.95 Cr	86.29 Cr
Tax Provision	4.03 Cr	10.81 Cr	11.24 Cr	16.45 Cr
Net Income	18.54 Cr	42.37 Cr	50.72 Cr	70.07 Cr
Diluted EPS	0.84	2.00	2.27	3.17

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	278.04 Cr	735.37 Cr	1,333.77 Cr	2,146.02 Cr
Cost of Revenue	-	246.57 Cr	623.24 Cr	1,101.97 Cr	1,715.44 Cr
Gross Profit	-	31.48 Cr	112.13 Cr	231.80 Cr	430.58 Cr
Operating Expenses	-	15.14 Cr	38.28 Cr	80.38 Cr	179.25 Cr
Operating Income	-	16.34 Cr	73.84 Cr	151.42 Cr	251.32 Cr
EBITDA	-	19.11 Cr	83.44 Cr	172.58 Cr	304.62 Cr
Interest Expense	-	2.97 Cr	8.82 Cr	8.22 Cr	23.54 Cr
Pretax Income	-	13.80 Cr	67.53 Cr	153.06 Cr	245.29 Cr
Tax Provision	-	3.12 Cr	12.06 Cr	27.47 Cr	44.65 Cr
Net Income	-	10.68 Cr	55.47 Cr	125.60 Cr	200.22 Cr
Diluted EPS	0.33	0.60	2.66	5.93	-

Compounded Sales Growth

5 Years:	97.62%
1 Year:	100.10%

Compounded Profit Growth

5 Years:	165.63%
1 Year:	58.50%

Stock Price Performance

1 Year:	+30.41%
6 Months:	-
3 Months:	-
1 Month:	-17.22%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	159.29 Cr	262.78 Cr	847.39 Cr	2,155.13 Cr
Current Assets	-	117.44 Cr	198.66 Cr	528.21 Cr	1,409.71 Cr
Cash & Equivalents	-	22.59 Cr	48.46 Cr	312.62 Cr	87.99 Cr
Inventory	-	48.03 Cr	73.79 Cr	76.98 Cr	379.05 Cr
Receivables	-	28.39 Cr	51.96 Cr	110.09 Cr	281.59 Cr
Total Liabilities	-	106.41 Cr	154.44 Cr	230.49 Cr	1,346.65 Cr
Current Liabilities	-	70.49 Cr	131.93 Cr	206.98 Cr	758.29 Cr
Long Term Debt	-	32.78 Cr	18.86 Cr	11.54 Cr	468.89 Cr
Total Debt	-	67.92 Cr	96.03 Cr	108.09 Cr	887.92 Cr
Total Equity	-	52.88 Cr	108.34 Cr	616.50 Cr	807.14 Cr
Shares Outstanding	-	20.83 Cr	20.83 Cr	22.03 Cr	22.04 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	-1.40 Cr	30.27 Cr	26.52 Cr	-73.13 Cr
Investing Cash Flow	-	-28.99 Cr	-33.47 Cr	-457.65 Cr	-185.57 Cr
Financing Cash Flow	-	45.36 Cr	28.09 Cr	385.13 Cr	697.80 Cr
Capital Expenditure	-	-29.02 Cr	-16.97 Cr	-91.72 Cr	-448.05 Cr
Free Cash Flow	-	-30.42 Cr	13.29 Cr	-65.20 Cr	-521.18 Cr
Net Change in Cash	-	14.97 Cr	24.89 Cr	-46.00 Cr	439.10 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	11.3%	15.2%	17.4%	20.1%
Operating Margin %	-	5.9%	10.0%	11.4%	11.7%
Net Margin %	-	3.8%	7.5%	9.4%	9.3%
ROE %	-	20.2%	51.2%	20.4%	24.8%
ROCE %	-	18.4%	56.4%	23.6%	18.0%

Shareholding Pattern

Insiders

67.68%

Institutions

0.45%

Public Float

1.40%

Analyst View

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