Jaipur-based solar module manufacturer Insolation Energy has reported a 58.35% year-over-year (YoY) growth in revenue to ₹7.3 billion (~$85.56 million) in the second half (2H) of the financial year (FY) 2025 from ₹4.61 billion (~$54.03 million).

Insolation Energy attributed the revenue growth to its expanding footprint in the Central and South India markets. The company also reported growth in all its revenue segments.

Its net profit rose by 60.5% to ₹649.25 million (~$7.6 million) from ₹404.37 million (~$4.73 million) in the corresponding period of last year.

The earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped to ₹807 million (~$9.45 million), a 55.49% YoY rise from ₹519 million (~$6.08 million).

Its earnings per share (EPS) came in at ₹3.01 (~$0.035) compared to an EPS of ₹19.41 (~$0.22) in 2H FY 2024.

Full Year Results

The company reported a consolidated revenue of ₹13.43 billion (~$157.4 million) in FY 2025, an 81.24% YoY growth from ₹7.41 billion (~$86.84 million).

Its net profit rose by 127.13% to ₹1.26 billion (~$14.76 million) from ₹554.73 million (~$6.5 million) in the previous year.

The company’s EBITDA jumped to ₹1.61 billion (~$18.87 million), growing 101.25% from ₹800 million (~$9.37 million).

Its EPS came in at ₹5.95 (~$0.069) in FY 2025 compared to an EPS of ₹2.66 (~$0.03) in the preceding year.

Currently, Insolation Energy has a 1 GW solar module manufacturing plant and is constructing a 3 GW manufacturing plant in Jaipur. It also has an 18,000 MTA aluminum frame manufacturing plant under construction.

Insolation Energy plans to construct a 4 GW solar module and a 3 GW solar cell manufacturing plant. It also plans to build a 36,000 MTA aluminum frame manufacturing plant.

Cumulatively, the company aims to expand its manufacturing capacity to 8 GW of solar module, 3 GW of solar cell, and 54,000 MTA of aluminum frame manufacturing capacity by FY 2027.

Through its subsidiary Insolation Green Infra, the company is seeing growing traction in engineering, procurement, and construction (EPC) contracts, as well as independent power projects. It aims for a topline of ₹10 billion (~$117.2 million) in the next three years.

Insolation Energy has an order book of over ₹20 billion (~$234.4 million) across all verticals, including module supplies, Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan projects, and EPC contracts, spanning the government and private sectors.

In 1H FY 2025, Insolation Energy reported a revenue of ₹6.13 billion (~$72.64 million), an increase of 118% YoY. The company noted that, with the decline in solar cell and module prices, it maintained and improved its gross spreads, resulting in an expansion of its profit margin.