Synopsis:
Insolation’s subsidiaries won a 34 MW solar project under the PMKUSUM Scheme from JDVVNL across 17 sites, with ₹113 Cr investment and expected annual revenue of ₹14.74 Cr.
The shares of one of the leading renewable energy company, specializing in the development and installation of solar power systems, jumped upto 2 percent upon receiving a Letter of Award (LOA) under the PM KUSUM Component A Scheme from Jodhpur Vidyut Vitran Nigam Limited (JDVVNL).
With a market capitalization of Rs. 4,328.64 crores on Tuesday, the shares of Insolation Energy Limited jumped upto 1.65 percent, making a high of Rs. 196.95 per share compared to its previous closing price of Rs. 193.75 per share.
What Happened
Insolation Energy Limited, engaged in the development and installation of solar power systems, has announced that its subsidiary companies—Insolation Green Infra Private Limited, MGVI Green Infra One Private Limited, and MGVI Green Infra Two Private Limited, have received a Letter of Award (LOA) under the PMKUSUM Component A Scheme from Jodhpur Vidyut Vitran Nigam Limited (JDVVNL).
The LOA pertains to the design, survey, supply, installation, testing, commissioning, operation, and maintenance of a 34 MW grid-connected solar power plant, along with associated infrastructure such as 11 KV lines and remote monitoring systems, for 17 sites.
The plants will operate for 25 years from the date of commissioning. The tariff rates are Rs. 3.02 per unit for 1 site, Rs. 2.70 per unit for 13 sites, and Rs. 2.65 per unit for 3 sites. The total investment for setting up the solar power plants is approximately Rs. 113 Crores, and the plants are expected to generate annual revenue of Rs. 14.74 Crores. The project is scheduled for completion by FY 2026-27.
Financials & Others
The company’s revenue rose by 90 percent from Rs. 372 crore to Rs. 707 crore in H2FY25-26. Meanwhile, the Net profit rose from Rs. 43 crore to Rs. 62 crore during the same period.
The company has delivered strong profit growth of 109% CAGR over the last 5 years and maintains a solid return on equity, with a 3-year average ROE of 39.7%. It also reports a high ROCE of 56.6% and ROE of 49.9%, with a low debt-to-equity ratio of 0.06, indicating strong financial health.
Insolation Energy Limited (INA Solar) is an Indian company, founded in 2015 and based in Jaipur, that manufactures and supplies solar panels, batteries, and power conditioning units under the brand name INA Solar.
INA Solar, a BSE SME-listed company under Insolation Energy Limited, has been providing sustainable energy solutions for over 8 years. With a current manufacturing capacity of 1 GW and three modern units in Jaipur, Rajasthan, the company ranks among the top 10 solar firms in India.
It aims to expand its capacity to 8 GW for PV modules, 3 GW for solar cells, and 54,000 MTA for aluminum frames. INA Solar has a strong presence across 100+ districts, a customer base of over 15,000, more than 800 channel partners, and is actively executing over 100 MW of projects under KUSUM A, B, C, and IPP schemes.
The company currently has a strong order book of ₹2,500 crores, with major projects scheduled for execution in FY25–26. The order split includes ₹1,250 crores from EPC/Developers, ₹650 crores from Government Schemes, ₹300 crores from Rooftop projects, and ₹300 crores from Channel Partners.
Written by Sridhar J
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