Board Meeting Details

The meeting commenced at 03:41 PM and concluded at 04:25 PM on Monday, 25th May, 2026.

Key Decisions and Approvals

1. Financial Results Approval: The Board approved the Audited Financial Results (Standalone and Consolidated) for the quarter and year ended March 31, 2026, pursuant to Regulation 33 of the Listing Regulations. The results were accompanied by an unmodified Auditor's Report.

2. ESOP Allotment: Approved the allotment of 54,750 (Fifty Four Thousand Seven Hundred Fifty) fully paid-up equity shares of face value ₹1 each, arising from the exercise of vested options under the Insolation Energy Employee Stock Option Plan 2024 (ESOP 2024).

3. ESOP Plan Amendment: Approved amendments to the Insolation Energy Employee Stock Option Plan 2024 (ESOP 2024).

4. Directorship Continuation: Approved the continuation of Mr. Anil Kumar Gupta (DIN: 03573328) as a Non-Executive Independent Director after attaining the age of 75 years, subject to shareholder approval.

5. Subsidiary Board Appointment: Approved the appointment of Mr. Anil Kumar Gupta (DIN: 03573328) to the board of Insolation Green Energy Private Limited, an unlisted material subsidiary, effective May 25, 2026.

6. Statutory Auditor Appointment: Approved the appointment of M/s. ARS & Company, Chartered Accountants (Firm Regn. No. 009406C), as Statutory Auditors for a five-year term commencing from the conclusion of the 11th AGM until the conclusion of the 16th AGM in 2031, based on the Audit Committee's recommendation.

7. Cost Auditor Re-appointment: Approved the re-appointment of M/s. Deepak Mittal & Co., Cost Accountants (Firm Regn. No. 003076), as Cost Auditors for the financial year 2026-27, based on the Audit Committee's recommendation.

8. Internal Auditor Appointment: Approved the appointment of M/s. RBSN & Co., Chartered Accountants (Firm Regn. No. 019015C), as Internal Auditors for the financial year 2026-27, based on the Audit Committee's recommendation.

9. Postal Ballot Notice: Approved the notice for a postal ballot.

Detailed Financial Performance (Consolidated)

(All figures in ₹ Lakhs)

Income Statement Highlights:

  • Revenue from Operations: Q4 FY26: ₹79,393.16 | FY26: ₹2,14,602.13 (vs. FY25: ₹1,33,376.84) - a 61% YoY increase.
  • Total Income: Q4 FY26: ₹79,238.32 | FY26: ₹2,16,352.38 (vs. FY25: ₹1,34,362.34).
  • Profit Before Tax (PBT): Q4 FY26: ₹8,629.22 | FY26: ₹24,528.53 (vs. FY25: ₹15,305.84) - a 60% YoY increase.
  • Profit After Tax (PAT): Q4 FY26: ₹6,984.47 | FY26: ₹20,063.15 (vs. FY25: ₹12,558.81) - a 60% YoY increase.
  • Total Comprehensive Income: FY26: ₹20,047.14 (vs. FY25: ₹12,581.25).
  • Earnings Per Share (EPS) - Basic & Diluted: FY26: ₹9.10 (vs. FY25: ₹5.93).

Balance Sheet Highlights (Consolidated as of Mar 31, 2026):

  • Total Assets: ₹2,15,512.71 (vs. Mar 31, 2025: ₹85,100.39).
  • Equity Share Capital: ₹2,203.95 Lakhs.
  • Other Equity: ₹78,510.24 Lakhs.
  • Total Equity: ₹80,847.49 Lakhs (attributable to owners).
  • Non-Current Liabilities: ₹58,836.05 Lakhs (incl. Borrowings: ₹46,888.94 Lakhs).
  • Current Liabilities: ₹75,829.18 Lakhs.

Cash Flow Highlights (Consolidated FY26):

  • Net Cash from Operating Activities: (₹7,312.82) - negative due to significant working capital changes.
  • Net Cash used in Investing Activities: (₹18,556.75) - primarily due to purchase of Property, Plant & Equipment (₹44,804.75 Lakhs).
  • Net Cash from Financing Activities: ₹69,779.58 - primarily from secured loans raised (₹45,734.90 Lakhs).
  • Net Increase in Cash: ₹43,910.01 Lakhs.
  • Cash and Equivalents at year-end: ₹44,136.96 Lakhs.

Detailed Financial Performance (Standalone)

(All figures in ₹ Lakhs)

  • Revenue from Operations: FY26: ₹9,802.52 (vs. FY25: ₹11,302.35).
  • Profit Before Tax (PBT): FY26: ₹935.23 (vs. FY25: ₹667.63).
  • Profit After Tax (PAT): FY26: ₹718.33 (vs. FY25: ₹475.22).
  • Earnings Per Share (EPS) - Basic & Diluted: FY26: ₹0.33 (vs. FY25: ₹0.22).

Subsidiaries and Associates for Consolidation

The consolidated results include the following entities:

1. Insolation Energy Limited (Parent)

2. Insolation Green Energy Private Limited (Wholly Owned Subsidiary and its subsidiaries)

3. Green Infra Private Limited Insolation (Subsidiary and their associates)

4. MGVI Green Infra One Private Limited (Subsidiary)

5. MGVI Green Infra Two Private Limited (Subsidiary)

6. MGVI Green Infra Three Private Limited (Subsidiary)

7. MGVI Green Infra Four Private Limited (Subsidiary)

8. MGVI Green Infra Five Private Limited (Subsidiary)

Other Key Notes from Financial Statements

  • Segment Reporting: The Group operates primarily in a single segment: "manufacturing of solar panel and sale of electricity and related project activities."
  • Preferential Issue (Previous Year): The company had previously issued 12,02,300 equity shares (FV ₹10) at ₹3,287 per share, raising ₹39,519.90 Lakhs, which has been fully utilized.
  • ESOP Allotment (FY26): On November 14, 2025, the company allotted 51,625 equity shares (FV ₹1) at an exercise price of ₹3.8 per share under the ESOP 2024 plan.
  • Impact of New Labour Codes: The adoption of new labour codes effective November 21, 2025, did not have a material financial impact as assessed by the Group. Further impacts will be accounted for as related rules are notified.