The shares of one of the leading renewable energy company, specializing in the development and installation of solar power systems, jumped upto 5 percent upon receiving a work order worth Rs. 372.20 crores from Rajasthan Renewable Energy Corporation and Teerth Gopicon Limited.
Price action
With a market capitalization of Rs. 5,649.59 crores on Tuesday, the shares of Insolation Energy Limited jumped upto 4.9 percent making a High of Rs. 264.70 per share compared to its previous closing price of Rs. 252.15 per share.
What Happened
Insolation Energy Limited engaged in the development and installation of solar power systems has received two work orders totaling Rs. 372.20 crores.
The first order, received from Rajasthan Renewable Energy Corporation (RREC), which includes a 25-year project to design, supply, test, install, and maintain 78 MW rooftop solar systems power projects on state government buildings in Jaipur, Dausa, and Churu, with a total value of Rs. 340.20 Crores.
The second order, from Teerth Gopicon Limited, is for the supply of 25 MW of 46,297 Solar Photovoltaic (SPV) MONO Crystalline Modules, valued at Rs. 32 Crores.
About the company
Insolation Energy Ltd. is a leading company in the renewable energy sector, specializing in the development and installation of solar power systems. The company focuses on providing clean energy solutions and offers a wide range of services, including the design, engineering, procurement, and commissioning of solar power plants.
Key Insights
The company has strong financial metrics, with promoter shareholding exceeding 65 percent. Over the past three years, it has maintained a solid average Return on Equity (ROE) of 32.43 percent and an impressive average Return on Capital Employed (ROCE) of 22.23 percent.
Financials
The company’s revenue rose by 118 percent from Rs. 280.06 crore to Rs. 612.7 crore in H1FY24-25. Meanwhile, Net profit rose from Rs. 15.04 crore to Rs. 61.27 crore during the same period.
Written by Sridhar J
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