Insolation Energy rallies on bagging Rs 733-cr new orders

Insolation Energy jumped 5.07% to Rs 269.50 after the company announced that its wholly owned subsidiary, Insolation Green Energy, had secured two major orders totaling Rs 733.04 crore from KPI Green Energy.

The first order, valued at Rs 513.13 crore, involves the supply of Solar PV Module N Type Bi-Facial (G to G) to KPI Green Energy for their project at GUVNL. The delivery is scheduled between June 2025 and March 2026.

The second order, amounting to Rs 219.91 crore (including GST), also pertains to the supply of Solar PV Module N Type Bi-Facial (G to G) for KPI Green Energy's project at GUVNL Phase-2. The delivery for this order is also planned between June 2025 and March 2026.

 

The company stated that the combined revenue from these two purchase orders will amount to Rs 733.04 crore. This order is in addition to the Letter of Award (LOA) of Rs 372.20 crore received by the company from Rajasthan Renewable Energy Corporation and Teerth Gopicon for the supply of solar modules under the Hybrid Annuity Model.

Insolation Energy is engaged in the business of manufacturing solar panels and modules of high efficiency of various sizes.

On a full-year basis, the companys consolidated net profit soared 419.4% to Rs 55.47 crore on 163.9% surge in revenue from operations to Rs 737.17 crore in FY24 over FY23.

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