Insolation Energy Ltd. Reports 419.50 per cent Surge in FY24 Consolidated PAT
May 20, 2024
PNN
Mumbai (Maharashtra) [India], May 20: Insolation Energy Limited (BSE: INA), one of the leading players in India's solar energy sector, specializing in the manufacturing of high-performance solar panels, batteries, and power conditioning units (PCUs), announced its Audited Financial Results for H2 & FY24.
Key Highlights For FY24
- The Company's ROCE Stood at 59.97 per cent for FY24
- The Company reported operating cash flow of Rs 61 Cr for FY24.
Commenting on the performance, Manish Gupta, Chairman and Vikas Jain, Managing Director of Insolation Energy Limited said, "We are delighted to announce these outstanding results. Our continued focus on leveraging advanced technologies to enhance our product offerings and increase market penetration has been pivotal to our success. Our goal is to continue contributing to the global transition towards renewable energy while delivering significant value.
The positive trends in EBITDA and PAT margins highlight our ability to manage costs effectively and optimize operations, reinforcing our position as a leader in the solar energy industry.
Looking ahead, we have set ambitious targets, aiming to double our consolidated revenue by FY 2025. To support this expansion, we plan to scale up our solar panel manufacturing capacity to 3,000 MW and aluminium frame manufacturing to 6000 MTPA by FY 2025-26. These initiatives not only underscore our commitment to growth but also exemplify our steadfast dedication to advancing sustainable energy solutions on a broader scale, ensuring a brighter and greener future for all."
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