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Leading solar module manufacturer Insolation Energy Ltd on Tuesday reported over two-fold jump in net profit to Rs 126.19 crore in the fiscal year ended March 31, 2025 on the back of rise in revenues.
In the financial year ended March 31, 2024 the company had posted a net profit of Rs 55.47 crore.
The company's consolidated turnover stood at Rs 1,333.76 crore, registering an 80.93 per cent year-on-year growth compared to Rs 737.17 crore in FY 2023-24.
The EBITDA (earnings before interest, taxes, depreciation, and amortisation) of the company more than doubled to Rs 170.32 crore, while gross margins rose 86.44 per cent to Rs 231.79 crore, a company official said.
Chairman Manish Gupta attributed the strong performance to the company's focus on innovation, scale, and quality. "We have expanded from an 80 MW PV module capacity in 2017 to an expected 4 GW by July 2025," Gupta told reporters here.
Company's Managing Director Vikas Jain said that the company plans to scale further, targeting 8 GW module capacity, 3 GW of solar cell manufacturing, and 54,000 metric tonnes annually (MTA) of aluminium frame production by FY 2025-27.
Reiterating its commitment to the 'Make-in-India' initiative, the company officials said it aims to contribute significantly to the vision of 500 GW of green energy capacity by 2030.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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