Insolation Energy FY26 Revenue Up 61% to ₹2146 Cr

Revenue from Operations: ₹794 Crore, representing 100% year-on-year growth (Q4 FY25: ₹397 Cr)
EBITDA: ₹111 Crore, showing 93% year-on-year growth (Q4 FY25: ₹57 Cr)
Profit Before Tax (PBT): ₹86 Crore, with 62% year-on-year growth
Profit After Tax (PAT): ₹70 Crore, showing 65% year-on-year growth

Income Statement (INR in Crores):

| Particulars | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |

| Revenue | 215 | 279 | 737 | 1,334 | 2,146 |

| Gross Profit | 32 | 38 | 124 | 232 | 431 |

| EBITDA | 14 | 19 | 84 | 170 | 305 |

| EBITDA Margin % | 6.3% | 6.6% | 11.4% | 12.8% | 14.0% |

| Net Profit | 7 | 11 | 55 | 126 | 201 |

Balance Sheet (INR in Crores):

| Particulars | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |

| Total Equity | 22 | 53 | 108 | 617 | 808 |

| Long-term Borrowings | 9 | 33 | 19 | 12 | 578 |

| Short-term Borrowings | 22 | 35 | 77 | 97 | 370 |

| Total Assets | 70 | 159 | 263 | 847 | 2,155 |

| Cash & Equivalents | 8 | 23 | 55 | 314 | 521 |

Current Module Capacity: 5.5 GW
Target Capacity: 7 GW (expansion of +1.5 GW)
Upcoming Solar Cell Capacity: 4.5 GW using TOPCon G12R technology, scheduled for Q4 FY27 completion
Upcoming Aluminum Frame Production: 18,000 MTA capacity, scheduled for Q2 FY27 completion
IPP Projects: 300 MW+ target for FY27, with 50 MW currently live

Key Leadership:

Mr. Manish Gupta, Founder and Chairman - over 25 years leadership across Steel, Real Estate, and Health & Fitness
Mr. Vikas Jain, Founder and Managing Director - 25 years experience, engineering background

Board of Directors:

Mr. Akhilesh Kumar Jain (Non-Executive Director) - Former MD of Rajasthan Electronics & Instruments Ltd (2011-2020)
Mr. Anil Kumar Gupta (Independent Director) - Seasoned power-sector professional
Dr. Subir Bikas Mitra (Independent Director) - Power sector veteran with 40+ years experience, former Executive Director at GAIL
Mrs. Payal Gupta (Non-Executive Director) - 10+ years board experience
Dr. Pallavi Mishra (Independent Director) - 13+ years power sector experience
Mr. Rajiv Jain (Independent Director) - 42+ years governance and law experience
Mr. Shreemat Pandey (Independent Director) - IIT Kharagpur graduate, former IAS officer
Mrs. Ekta Jain (Non-Executive Director) - 10+ years board experience

Founded in Jaipur in 2017, scaled from 80 MW to 5.5 GW in eight years
Top-10 position among India's PV manufacturers
Fully integrated manufacturing ecosystem with multi-channel presence
Key supplier to government schemes including KUSUM (expanded to ~50-55 GW with ~18 GW PPAs signed)

Global solar installations reached 600 GW in 2024 (81% of all new RE capacity)
India installed base: 135.81 GW as of December 2025 (47× growth from 2.82 GW in 2014)
Solar accounts for 47% of India's renewable energy mix
India solar demand expected to reach ~85 GW annually by FY30
ALMM-III mandate (June 2028) requires domestic wafers - creating 2-3 years of supply scarcity opportunity

Successfully migrated to BSE and NSE Main Boards on 9th March 2026
Organized "Urja 4.0 - Channel Partner's Meet" with 700+ participants on 2nd May 2026
Celebrated solarization of 40,000 homes under PM Surya Ghar scheme

Rajasthan Visionary in Solar Panel Manufacturing 2025 (awarded by MY FM 94.3)
India Prode Award 2025 (awarded by Dainik Bhaskar)
Best Employer (All Round Performer) - 2024 (awarded by Employers Association of Rajasthan)
Outstanding Contribution to India's Manufacturing Economy - 2025 (awarded by Hurun India)
Excellence in Energy Sector (Manufacturer) - 2024 (awarded by ET Rajasthan Business Summit)
Public Sector Solar Leadership Award
Green Entrepreneur of the Year Award