Jaipur-based solar module manufacturer Insolation Energy posted revenue of ₹7.41 billion (~$77.6 million) in the first quarter (Q1) of the financial year (FY) 2026-27, up 104.7% year-over-year (YoY), compared to ₹3.62 billion.

The increase can be attributed to strong demand across the utility-scale, rooftop, commercial, and industrial (C&I) segments, as well as government-led clean energy projects.

The company posted a profit of ₹380 million (~$3.98 million), down 11.8% compared to ₹431 million (~$4.52 million) during the same period the year before.

Earnings per share stood at ₹1.73 (~$0.0181), a decrease of 11.7% compared to ₹1.96 (~$0.0205) the previous year.

The company has a combined module manufacturing capacity of 5.5 GW with manufacturing facilities in Jaipur, Rajasthan.

Business Highlights

This July, Insolation Green Energy bagged a ₹5.58 billion (~$58.46 million) contract to supply solar modules to NTPC Renewable Energy. The contract will be executed in FY 2026-27.

The company posted revenue of ₹7.92 billion (~$83.03 million) in Q4 of FY 2026, up 99.9% YoY compared to ₹3.96 billion (~$41.51 million).

The company manufactures 500 Wp to 635 Wp modules, including G12R N-Type TOPCon modules, M10R N-Type TOPCon modules, Mono PERC modules, and bifacial solar panels in DCR and N-DCR variants.

The company has also entered the engineering, procurement, and construction segment, with over 100 MW of projects under construction.

Insolation Energy is also entering the battery storage segment with the capacity to be announced shortly.

Outlook

The company is also constructing its fourth major manufacturing plant spanning 45 acres in the Mohasa-Babai power and renewable energy zone in Narmadapuram, Madhya Pradesh, representing an investment of ₹16 billion (~$167.72 million) to produce 4.5 GW of solar cells and 18,000 MTA of aluminum frames. It will become operational early next year.

Insolation Energy also plans to expand its presence across utility-scale, rooftop, C&I, and government-led solar programs and increase its focus on value chain integration to strengthen cost competitiveness and long-term margin sustainability.

It will continue strengthening execution visibility through order inflows, channel expansion, and participation in strategic projects.