Solar Company Bags Order Worth Rs 142,40,00,000 from Jodhpur Vidyut Vitran Nigam; Stock Surges Over 1,100 per cent in Just 1 Year!
The company’s shares have delivered multibagger returns of over 1100 per cent to its shareholders in just 1 year.
Incorporated in 2015, Insolation Energy Ltd manufactures high-efficiency solar panels and modules. The company operates a 200 MW SPV Module manufacturing unit in Jaipur, which spans over 60,000 square feet and is equipped with the latest machinery.
Insolation Energy's subsidiary, Insolation Green Infra Pvt Ltd, has signed a Memorandum of Understanding (MoU) with Ganesh Décor India Pvt Ltd for a solar power project under the KUSUM C scheme in Rajasthan, awarded by Jodhpur Vidyut Vitran Nigam Ltd (JDVVNL). This project, with a total capacity of 22.68 MW (AC) / 29.484 MW (DC), is estimated to cost approximately Rs 118 crore, including taxes.
Additionally, Insolation Energy Ltd has received a Letter of Award from Jaipur Vidyut Vitaran Nigam Ltd (JVVNL) for a 4.7 MW (AC) / 6.11 MW (DC) solar power plant development in Kusum C. This project is valued at around Rs 24.4 crore, including taxes.
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In total, these projects represent a combined capacity of 27.38 MW (AC) / 35.60 MW (DC) with an estimated value of approximately Rs 142.40 crore, including taxes.
Today shares of Insolation Energy Ltd closed at around Rs 2969.70 per share. The company’s current market capitalization stands at Rs 2969.70 crore. Additionally, the shares have delivered a multibagger return of over 1100 per cent in the past 1 year.
As per the Quarterly Results, in Q4 FY24, Insolation Energy Ltd recorded a revenue of Rs 459 crore. The operating profit for Q4 FY24 stood at Rs 52 crore. The net profit for Q4 FY24 stood at Rs 40 crore compared to a profit of Rs 15 crore last year same quarter. Looking at the annual performance, the company generated a revenue of Rs 737 crore in FY24. The operating profit for FY24 was Rs 80 crore with a net profit of Rs 55 crore compared to a net profit of Rs 11 crore in FY23.
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Disclaimer: The article is for informational purposes only and not investment advice.