During Tuesday’s trading session, the shares of a leading player in solar panel module manufacturing surged nearly 2 percent to hit an intraday high at Rs. 4,390 on BSE.
Over the past three months, from 1st August 2024 to the present date, Insolation Energy Limited has secured orders worth more than Rs. 1,000 crores.
Stock Performance:
With a market cap of Rs. 8,753.4 crores, the shares of Insolation Energy Limited opened in the green at Rs. 4,348, up by nearly 1 percent, as against its previous closing price of Rs. 4,306.75.
The stock has delivered multibagger returns of nearly 505.3 percent in one year, as well as around 81.2 percent of positive returns in the last six months. So far in 2024, the shares of Insolation Energy have given multibagger returns of about 428.4 percent.
Orders in last 3 months:
5th August: Insolation Energy Limited as well as its subsidiary Insolation Green Infra Pvt Ltd., secured orders worth a total of ~Rs. 142.42 crores from Jaipur Vidyut Vitaran Nigam Ltd (JVVNL) and Jodhpur Vidyut Vitran Nigam Ltd (JDVVNL), with an overall project size of 27.38 MW (AC)/35.60 MW (DC).
27th August: Insolation Green Energy Pvt Ltd., a wholly-owned subsidiary of Insolation Energy, bagged a purchase order worth ~Rs. 34.21 crores for the supply of 545 MW Solar PV (SPV) Modules from Rays Green Energy Manufacturing Pvt Ltd.
24th October: Insolation Green Energy received a purchase order worth ~Rs. 208.31 crores for the supply of 550Wp SPV Modules from Zetwerk Manufacturing Business Private Ltd. at NTPC Khavada Gujarat Site, to be delivered within FY25.
30th October: The company secured its single largest contract in the company’s history worth Rs. 500.5 crores, from Rajasthan Renewable Energy Corporation Ltd (RREC), for the design, supply, erection, testing, commissioning, and O&M for 25 years of 77MW Grid Connected Rooftop Solar (RTS) photovoltaic power projects on state government buildings in Rajasthan, to be executed in 18 months.
13th November: Insolation Green Energy was awarded a purchase order, valued at Rs. 71.4 crores, for the supply of SPV Modules from ACME Cleantech Solutions Private Limited, to be delivered in FY25.
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Financials:
Insolation Energy reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 120 percent, rising from Rs. 278 crores in H1 FY24 to Rs. 612.7 crores in H1 FY25.
Likewise, during the same period, the company’s net profit increased from Rs. 15 crores to Rs. 61.3 crores, representing a growth of around 307.5 percent YoY.
The company’s EBITDA saw a remarkable growth of 172 percent, rising to Rs. 81 crores from Rs. 29.75 crores on a YoY basis. Consequently, the Earnings Per Share (EPS) also surged from Rs. 7.22 to Rs. 29.41.
On 5th November, the Board of Insolation Energy approved the stock split in a 1:10 ratio, which means, 1 equity share with a face value of Rs. 10 each will be divided into 10 equity shares with a face value of Re. 1 each.
Future Outlook:
The company’s Managing Director reiterated that the current capex of Phase 1 is on track, with the commercial production of the 3 GW solar manufacturing plant and the 12,000 MT aluminium plant set to begin before the end of FY25.
This facility will feature the latest accepted technology and is expected to be operational by March 2025, bringing the total solar module capacity to 4 GW. As part of phase 1 of our Capex, the company will also start 1.5 GW of solar cell manufacturing before March 2026.
In phase 2 of expansion, the company plans to exceed 6.5 GW of operative solar modules and 3 GW of solar cell manufacturing capacity in the next 3 years. Insolation Energy expects to achieve over $1 billion in revenue, with profit-after-tax (PAT) margins exceeding 10 percent in the same timeframe.
Key Financial Ratios:
In terms of key financial metrics, Insolation Energy currently has a Return on Equity (RoE) of 68.5 percent and a return on capital employed (RoCE) of 47.8 percent. Additionally, the company’s debt-to-equity ratio stands at 0.41.
About the company:
Insolation Energy Limited is mainly engaged in the business of manufacturing of a wide range of Solar Panels which includes Solar Module, Solar PCUs, and Solar Battery, under the brand name INA.
Written by Shivani Singh
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