On July 25, 2024, Insolation Energy Ltd (INA) announced its performance for the quarter ended June 30, 2024, in a stock exchange filing.
The company has delivered a remarkable performance for the quarter ending June 30, 2024, showcasing an impressive 181.86% year-on-year volume growth on a consolidated basis.
The company’s revenues for Q1 of FY 2024-25 have already exceeded those for the first half of FY 2023-24, highlighting a strong upward trajectory.
Chairman Mr. Manish Gupta and Managing Director Mr. Vikas Jain have lauded the results, marking this quarter as the highest sales performance since the company’s inception. They attribute this success to the robust demand for their products and anticipate that this momentum will persist in the coming quarters. The management is optimistic that the operating leverage will significantly enhance profitability as a result of this exceptional revenue growth.
The demand outlook for FY 2024-25 suggests it will be a standout year for the company, with projected margin expansion in the range of 200-250 basis points.
Insolation Energy is investing in substantial capital expenditures to support this growth, including an additional 3GW capacity for solar panel manufacturing. This will bring the company’s total installed capacity for solar manufacturing to approximately 4GW, alongside 12,000MT of aluminium framing, by the end of FY 2024-25.
Looking ahead, a technological upgrade is in progress with a vendor for a 1.4GW cell manufacturing capacity set to be operational by 2025-26. This expansion is expected to meet the current high demand and showcase the latest advancements in technology. With these strategic moves, Insolation Energy is well-positioned to maintain its growth trajectory and continue delivering value to its stakeholders.
About Insolation Energy Ltd
Insolation Energy Ltd is involved in the manufacturing of high-efficiency solar panels and modules in different sizes. The company’s 200 MW SPV Module manufacturing unit is in Jaipur, spread over over 60,000 Sq. ft area with the latest machinery.
On July 25, 2024, the Insolation Energy share price opened at ₹3,200.00, touching the day’s high at ₹3,287.00, as of 9:25 AM on the BSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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