Insolation Energy Limited (BSE: 543620), a leading Indian manufacturer of high-efficiency solar photovoltaic modules, has reported a robust 80.9 per cent year-on-year rise in consolidated revenue, reaching Rs 13.34 billion for the financial year ended 31 March 2025.

Chairman Manish Gupta attributed the strong performance to continued expansion across all segments and deeper penetration into Central and Southern India, establishing the company as a national player. To support its growth ambitions, Insolation is setting up a 3 GW solar module line at its new Unit 3 in Jaipur, with 80 per cent of construction completed. The facility is expected to become operational by the end of Q1 FY26.

Furthering its backward integration strategy, the company is developing a 3 GW solar cell line and a 54,000 MT aluminium frame manufacturing facility in Narmadapuram, Madhya Pradesh. Construction is scheduled to begin by the end of Q1 FY26, with commercial operations targeted for H1 FY27.

Insolation’s EPC and IPP arm, Insolation Green Infra, is also gaining momentum, with an expected revenue target of Rs 10 billion over the next three years. The company has ambitious revenue projections of over Rs 30 billion in FY26, Rs 55 billion in FY27, and Rs 85 billion in FY28.

Net profit is forecast to grow in parallel, with targets set at Rs 3.5 billion in FY26, Rs 8 billion in FY27, and Rs 13.5 billion in FY28.

Managing Director Vikas Jain noted the benefits of scale, as EBITDA margins rose by 120 basis points to 12.1 per cent. Operational efficiencies contributed to a return on capital employed (ROCE) of 60.1 per cent and operating cash flow of Rs 1.13 billion.

With a current consolidated order book exceeding Rs 20 billion—including module supplies, KUSUM projects, and EPC contracts in both public and private sectors—Insolation Energy is well-positioned for sustained growth.

Its upcoming Jaipur manufacturing unit is expected to be one of India’s most advanced solar panel production facilities. The company remains focused on cost optimisation, technology integration, and talent development to deliver long-term value to shareholders.