Ashish Kacholia-Backed Solar Energy Stock: Company Bags 109.79 MW Solar Project Awarded Under PMKUSUM Scheme
The stock has declined 18.77 per cent over the past year
Insolation Energy Limited, a Small-Cap solar power stock, has announced a major development through its wholly-owned subsidiary, Insolation Green Energy Private Limited. The company has received a Letter of Intent (LOI) from Jaipur Vidyut Vitran Nigam Limited (JVVNL) for the execution of grid-connected solar power plants under the PMKUSUM Component A Scheme. This project spans across 58 sites with a total installed capacity of 109.79 megawatts (MW).
The scope of work includes design, survey, supply, installation, testing, commissioning, and a 25-year operation and maintenance (O&M) contract. The levelized tariff ranges from Rs 2.55 to Rs 3.04 per unit, and the project is expected to generate annual revenue of approximately Rs 45.82 crore. This development reflects a strong step forward in the company’s renewable energy expansion plans and is expected to strengthen its revenue visibility over the long term.
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Incorporated in 2015, Insolation Energy Ltd specialises in high-efficiency solar panels and modules under the brand name INA Solar. The company operates a 200 MW solar photovoltaic (SPV) module manufacturing facility in Jaipur and ranks as the second-largest manufacturer in North India. Its product portfolio includes solar PCUs and batteries, distributed across 100 districts in India. With over 500 completed projects and a 243 per cent revenue growth from FY22 to FY24, the company has also improved its operating margins from 6 per cent to 11 per cent.
As of June 30, 2025, the share price of Insolation Energy stood at Rs 273.65. The stock has a 52-week high of Rs 460.85 and a 52-week low of Rs 224.05. Despite being a popular solar energy investment, the stock has declined 18.77 per cent over the past year. The company commands a market capitalisation of Rs 5,956 crore and trades at a high price-to-earnings (PE) ratio of 2075.22. Notable public shareholders include Vanaja Sundar Iyer (2.05 per cent) and Siddhartha Sharma (1.91 per cent).
With continued investments in solar energy growth and increasing opportunities under government schemes like PMKUSUM, Insolation Energy remains a stock to watch in the renewable energy sector.
Disclaimer: The article is for informational purposes only and not investment advice.