Insolation Energy Limited achieves remarkable growth in revenue and profit, solidifying its position in the renewable energy sector
The Rajasthan-based reputable solar panel manufacturing company -Insolation Energy Limited (INA Solar, has achieved a significant milestone by becoming the first solar panel manufacturing company from the region to be listed on BSE SME. This listing further solidifies INA Solar’s position among the top 10 solar companies in India and highlights its commitment to the renewable energy sector.
In their recently presented financial results for the year ending on March 31, 2023, INA Solar showcased impressive performance, indicating substantial growth in revenue and profit. The consolidated balance sheet revealed that the company generated a revenue of Rs 164.18 crore in the second half of the financial year, surpassing the Rs 115.86 crore earned in the first half. Notably, INA Solar’s net profit after tax for this period stood at Rs 6.07 crore, compared to Rs 4.60 crore in the preceding half.
For the entire financial year ending March 31, 2023, INA Solar reported a total revenue of Rs 280.05 crore, showing remarkable growth from the previous year’s figure of Rs 215.47 crore. The company’s net profit after tax during this period amounted to Rs 10.68 crore, representing a notable increase from the Rs 6.94 crore earned in the corresponding period last year. INA Solar’s earnings per share (EPS) for FY23 stood at Rs 6.01.
It’s important to note that the consolidated financial results also incorporate the financial performance of Insolation Green Energy Private Limited, which has contributed to INA Solar’s overall success.
These outstanding financial results highlight INA Solar’s strong market position and its commitment to delivering quality solar panels in the Indian market. The company’s listing on BSE SME further enhances its reputation and provides new opportunities for growth and expansion in the renewable energy sector.
With this achievement, INA Solar sets an inspiring example for other solar panel manufacturers in Rajasthan and reinforces the state’s potential as a hub for renewable energy production. The company’s continuous growth and success contribute to India’s efforts to increase its share of clean and sustainable energy sources, furthering the country’s commitment to combating climate change.
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