Pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, Please find ....
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Insolation Energy reported FY25 consolidated revenue of INR1,333.80 crores, up 80.9% YoY, with EBITDA rising 103% to INR170 crores (margin up 140 bps to 12.8%) and PAT up 127.5%, supported by ROC of 60% and negative net debt of INR206 crores. Management guided for multi-year revenue targets of INR3,000+ crores in FY26, INR5,500+ crores in FY27, and INR8,500+ crores in FY28, with PAT margin expansion from 9.5% to 11.1% (FY26), 14% (FY27) and 16% (FY28), driven by cell integration and a 3 GW TOPCon Jaipur line becoming operational in 4-6 weeks. The company is setting up a 4 GW module + 3 GW cell + 54,000 MT aluminum frame facility in Madhya Pradesh (capex ~INR1,300 crores, funded via INR300 cr internal accruals and INR1,000 cr debt) with cell production expected to start by January 2027. The order book stands at INR2,500+ crores, an INR10,000 crore MOU has been signed with the Rajasthan government, and the company plans to migrate from SME to the main board starting October 11, 2025.
Strong FY25 results, ambitious three-year revenue and margin guidance, and large capacity expansion (4 GW module + 3 GW cell) could positively influence investor sentiment, though execution of the MP capex, debt funding, and timely cell-line ramp-up by January 2027 remain key risks to watch. Migration to the main board from October 2025 may also broaden the institutional investor base.