Solar Company Sets Consolidated Revenue Target of Rs 8,000 Crore on Eve of Allotment Of 1,82,108.50 Sq. Mtr of Land from Government of Madhya Pradesh
The stock gave multibagger returns of 455 per cent in just 1 year and a whopping 3,100 per cent in 2 years.
Insolation Green Energy Private Limited, a subsidiary of Insolation Energy Limited, is aiming for a consolidated revenue of a staggering Rs 8,000 Crore or USD 1 billion. To achieve this ambitious target, the company has received a significant boost with the allotment of 45 acres (approximately 1,82,108.5 square meters) of land in Madhya Pradesh for a mere Rs. 1 per square meter. This land will be used to establish a new manufacturing unit for solar PV modules, solar cells, and aluminium frames. The allotment comes with various benefits, including subsidized land lease, electricity, and water, as well as potential capital and employment subsidies.
This new facility, planned to be built in two phases, will significantly expand Insolation's production capacity. The company expects to manufacture 3 GW of solar cells, 4 GW of solar modules, and 24,000 MT of aluminium frames annually. This ambitious project will require an investment of approximately Rs 1,800 Crore and is expected to create over 1,600 jobs, fostering regional development and propelling the company towards its USD 1 billion revenue goal. Notably, this will be Insolation's fourth manufacturing facility and the first one outside of Rajasthan. The company's recent successful preferential allotment of Rs 400 Crore and ongoing construction of its third facility in Jaipur further solidify its commitment to becoming a major player in the renewable energy manufacturing sector.
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.
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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 3,287 per share aggregating to approx. Rs 40 crore.
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. The stock gave multibagger returns of 455 per cent in just 1 year and a whopping 3,100 per cent in 2 years.
Investors should keep an eye on this solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.