This green energy stock rallied 5% on Wednesday to reach its 52- week high after the company announced its new operating capacity of 750 MW.
Share price of Insolation Energy closed at Rs. 421.80 per share on Wednesday. It opened 5% higher to reach its 52- week high of Rs. 440.15 per share. The stock gave a multibagger return of 260.58% in the last six months and a consistent return of 430.04% in the last five years.
Renewable energy growth is advancing all over the world. The capacity to produce green energy has been enhanced in the past few years. More and more companies are getting involved in producing green energy through solar panels and other effective technologies. Insolation Energy Limited is one such company with a total operating capacity of 750 MW.
As per the recent filings, the company disclosed the commercialized production of 600 MW of its wholly owned subsidiary Insolation Green Energy Private Limited. It also mentioned that they shall manufacture various kinds of panels such as Mono & Bifacial half-cut technology solar panels, Mono-Perc panels, Topcon panels, etc.. The company also has plans to expand to an operational capacity of 950 MW by the end of the calendar year.
Comparing its financial results on a half yearly basis, the company recorded a revenue of Rs. 143.01 crore in March 2023, up by 19.1% from Rs. 115.65 crore in Sep 2022. It has a net profit of Rs. 1.57 crore in March 2023, a reduction of 65.7% from Rs. 4.58 crore in Sep 2022.
Insolation Energy Limited is a solar panel manufacturing business based in India. The company manufactures and sells high efficiency solar pv modules all across the country. It caters to many industries such as oil mills, textile mills, power plants, distilleries, breweries, automobiles, major cement plants, and many others.
Written by Bhumika Khandelwal
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