Solar stock jumps 7% after receiving ₹36 Cr order for supply of Solar Modules

This solar panel and module manufacturer secured a significant order worth Rs 36 crore that strengthens its order book position in the current fiscal year.  In this article, we will discuss the information surrounding this order.

Price Movement

With a market capitalization of Rs 5,487 crore, the shares of Insolation Energy Ltd made a 52-week high of Rs 475 per share, down by 42 percent from its current market price of Rs 248.55 per share. The stock has given a negative return of 36 percent over the last six months. 

About the announcement

On Tuesday, the company announced that its wholly owned subsidiary (Insolation Green Energy Private Limited) has secured an order worth Rs 36.01 crore (inclusive of GST) awarded by Nexgen Energies Private Limited for the supply of Mono PERC Solar Modules. 

Insolation Green Energy has recently obtained its largest-ever single order worth Rs 733.04 crore from KPI Green Energy for the delivery of N-type bifacial solar PV modules. The firm also received a Rs 32 crore order for a 25 MW solar module delivery from Teerth Gopicon.

Meanwhile, INA Solar won 38.43 MW of solar power projects under the PM-KUSUM Yojana in Rajasthan with an estimated investment of ₹134 crore and annual revenue of ₹18.33 crore.

Previously, it also won 78 MW of rooftop solar projects worth ₹340.20 crore for government buildings in Jaipur, Dausa, and Churu (Rajasthan) under the hybrid annuity mode from Rajasthan Renewable Energy Corporation (RREC).

Also read: Ashish Kacholia power stock jumps 7% after receiving major orders from PGVCL

Financial Highlights

Insolation Energy reported a revenue of Rs 612 crore in September 2024, up by 120 percent, from its September 2023 revenue of Rs 278 crore. It posted a net profit of Rs 61 crore in September 2024, up by 306 percent, from its September 2023 net profit of Rs 15 crores, and up by 52 percent from its March 2024 net profit of Rs 40 crores. 

About the Company

Insolation Energy Limited designs and markets solar panels and modules throughout India. The company distributes monocrystalline PERC and polycrystalline PV modules for varied uses, ranging from utility-sized solar farms, rooftop installations, net metering, off-grid applications, solar pumps, EV charging stations, and others. 

It also distributes solar power conditioning units and tall tubular lead-acid batteries to serve both ground-mounted solar projects and rooftop solar projects. Insolation Energy has an important role in driving the implementation of clean energy among residential, commercial, and rural industries.

Written by Satyajeet Mukherjee

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