10:1 Stock Split: Ashish Kacholia-Backed Multibagger Solar Energy Stock Hit 52-Week High As Company Reports A 307.53 Jump in PAT & Expansion Plan
The stock gave multibagger returns of 170 per cent in just 6 months and a whopping 660 per cent in 1 year.
On Friday, shares of the solar company gained 10.95 per cent and made a new 52-week high of Rs 4,750 per share from its previous closing of Rs 4,281.30. The stock gave multibagger returns of 170 per cent in just 6 months and a whopping 660 per cent in 1 year. The shares of the company saw a spurt in volume by more than 2.54 times on BSE.
The buzzing solar company is INSOLATION ENERGY LTD.
Insolation Energy Ltd a leading solar panel manufacturing company in India, has announced Steller financial performance for the Half yearly ended September 30, 2024. The company reported a Revenue of Rs 612.69 crore, a substantial increase of 118 per cent YOY basis. The company’s EBITDA saw a remarkable growth of 172 per cent, rising to Rs 81 crore from Rs 29.75 crore YOY basis. Net profit after tax experienced an extraordinary increase of 307.53 per cent, soaring to Rs 61.27 crore from Rs 15.03 crore YOY basis. Consequently, the Earnings Per Share (EPS) also surged by from 7.22 to 29.41.
Chairman Mr. Manish Gupta told that with this milestone, company had moved one step forward in the Journey of becoming among top 10 players in the solar energy eco system. The recent order wins of approx. Rs 775 crore shows the visibility of growth path and sustained demand environment.
Managing Director Mr. Vikas Jain reiterates that the current capex of Phase 1 is in place and Commercial Production of the 3 GW Solar manufacturing plant and 12,000 MT of aluminium plant will be started as per scheduled timelines. This state of art facility will showcase the latest accepted technology and will be operational by March 2025, the company will get to 4GW of solar module capacity total. As part of phase 1 of our Capex, we will also start 1.5GW of solar cell manufacturing before March 2026. In phase 2 of expansion, we envision going to 6.5GW+ of operative solar modules and 3GW of solar cell manufacturing capacity in the next 3 years. We aspire to cross USD 1B in revenue with 10 per cent+ PAT margins in the next 3 years.
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stock split Update: announced a stock split of its equity shares. Each existing share with a face value of Rs 10 will be divided into 10 new shares with a face value of Re 1 each. The company aims to increase liquidity and broaden its shareholder base by making the shares more affordable to retail investors. The stock split is expected to be completed within two months of board approval.
Furthermore, an ace investor, Ashish Kacholia’s company - Bengal Finance & Investment Pvt Ltd bought 1,21,600 shares via preferential issue for Rs 3287 per share aggregating to approx. Rs 40 crore.
Insolation Energy Ltd, founded in 2015, is a leading manufacturer of high-efficiency solar panels and modules. Based in Jaipur, India, the company operates a 200 MW manufacturing facility and has recently announced plans to expand its capacity to 500 MW through a subsidiary. In addition to manufacturing, Insolation Energy also provides solar power conditioning units, lead-acid batteries, and EPC services. Its major domestic customers include Livguard Energy Technologies Pvt Ltd, Livfast Batteries Pvt Ltd, Shakti Pumps India Ltd, Microtek International Pvt Ltd, Sunroof Tech Pvt Ltd, etc.
Investors should keep an eye on this solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.