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Insolare Energy Unlisted Shares
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Fundamentals About Insolare Energy
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Key Financials of Insolare Energy
| P&L Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | 239 | 250 | 163 | 438 |
| Cost of Material Consumed | 206 | 224 | 122.5 | 371 |
| Change in Inventory | 0 | 0 | 5 | -26 |
| Gross Margins | 13.81 | 10.4 | 21.78 | 21.23 |
| Employee Benefit Expenses | 8 | 13 | 15 | 35.5 |
| Other Expenses | 5 | 3 | 11 | 24 |
| EBITDA | 20 | 10 | 9.5 | 33.5 |
| OPM | 8.37 | 4 | 5.83 | 7.65 |
| Other Income | 0.7 | 0.5 | 0.8 | 3 |
| Finance Cost | 1.4 | 2 | 4 | 11 |
| D&A | 0.3 | 0.5 | 1 | 2.8 |
| EBIT | 19.7 | 9.5 | 8.5 | 30.7 |
| EBIT Margins | 8.24 | 3.8 | 5.21 | 7.01 |
| PBT | 19 | 8 | 4 | 23 |
| PBT Margins | 7.95 | 3.2 | 2.45 | 5.25 |
| Tax | 4 | 2 | 1 | 6 |
| PAT | 15 | 6 | 3 | 17 |
| NPM | 6.28 | 2.4 | 1.84 | 3.88 |
| EPS | 187.5 | 75 | 23.62 | 115.65 |
Financial Ratios |
2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating Profit Margin | 8.37 | 4 | 5.83 | 7.65 |
| Net Profit Margin | 6.28 | 2.4 | 1.84 | 3.88 |
| Earning Per Share (Diluted) | 187.5 | 75 | 23.62 | 115.65 |
| Assets | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Fixed Assets | 3.3 | 3 | 11.5 | 38 |
| CWIP | 0 | 0.3 | 0 | 0 |
| Investments | 0 | 0 | 0.05 | 0.05 |
| Trade Receivables | 63 | 22 | 27 | 59 |
| Inventory | 1.8 | 15 | 4 | 40 |
| Other Assets | 24.9 | 29.7 | 150.45 | 277.95 |
| Total Assets | 93 | 70 | 193 | 415 |
| Liabilities | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Share Capital | 0.8 | 0.8 | 1.27 | 1.47 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 14 | 20 | 88.7 | 194 |
| Borrowings | 17 | 19 | 53 | 96 |
| Trade Payables | 55 | 21 | 22 | 79 |
| Other Liabilities | 6.2 | 9.2 | 28.03 | 44.53 |
| Total Liabilities | 93 | 70 | 193 | 415 |
About Company
InSolare Energy, founded in 2009, is a prominent Indian Engineering, Procurement & Construction (EPC) company specializing in solar, hybrid, and green hydrogen technology. Operating in over 19 states with 500+ MWp installed, the firm is known for high-performance projects, 10+ patents, and a strong 100 MW+ O&M portfolio
The following table shows a 10-point analysis of Insolare Energy Limited. We will discuss each point in detail after this table.
| Parameter | Key Numbers | Insights |
|---|---|---|
| Business Overview | Incorporated 2008 · Renewable EPC | A solar EPC and clean energy solutions company focused on C&I and utility-scale projects across India. |
| Industry & Market Position | Solar EPC player | Positioned among emerging EPC companies benefiting from India’s renewable energy expansion. |
| Core Services | EPC · solar parks · turnkey solutions | Provides end-to-end solar solutions including design, engineering, procurement, and construction. |
| Installed & Pipeline Capacity | 300+ MW EPC orders · 500 MW pipeline | Strong execution track record with ongoing and planned solar projects. |
| Revenue Scale | ₹438 Cr (FY25) | Significant growth driven by EPC execution and large project wins. |
| Profitability | PAT ₹17 Cr (FY25) | Margins improving with scale and operational efficiencies. |
| Business Model | Asset-light EPC + expansion | Moving from the EPC model towards integrated renewable and green energy solutions. |
| Funding | ₹66 Cr raised (2024) | Growth capital raised from institutional and HNI investors to expand operations. |
| New Segments | Green Hydrogen · BESS | Expanding into next-gen energy segments beyond solar EPC. |
| Future Outlook | High growth potential | Positioned to benefit from renewable push, corporate decarbonisation, and energy transition. |
Company Overview
(i) Insolare Energy Limited is a renewable energy EPC company engaged in providing solar solutions to commercial, industrial, and utility-scale clients across India.
(ii) The company offers end-to-end services including engineering, procurement, and construction (EPC) for solar power projects, along with project development capabilities.
(iii) Insolare has executed 1+ GW of solar EPC projects and has built a strong presence across multiple states in India.
(iv) The company is gradually transitioning from a pure EPC player to an integrated clean energy platform, including solar parks, green hydrogen, and energy storage solutions.
(v) With increasing renewable adoption in India, Insolare Energy is positioned to capture opportunities in solar infrastructure and next-generation clean energy solutions.
Challenges in Insolare Energy Limited’s Business
- EPC margin pressure: The solar EPC segment is highly competitive, leading to pricing pressure and relatively thin margins.
- Working capital intensity: Large-scale EPC projects require significant working capital, impacting cash flows during expansion phases.
- Execution and project risks: Delays in land acquisition, approvals, or supply chain disruptions can impact project timelines and profitability.
Financial Review of Insolare Energy Limited
Here are some highlights of the financial performance of Insolare Energy Limited over the past few years.
FY25 Performance
• Revenue from operations stood at ₹438.38 crore.
• Total income reported around ₹441.45 crore.
• Profit before tax was approximately ₹23.15 crore.
• Profit after tax stood near ₹17.04 crore.
FY24 Performance
• Revenue from operations reported ₹162.68 crore.
• Total income stood around ₹163.46 crore.
• Profit before tax was approximately ₹4.33 crore.
• Profit after tax stood near ₹3.20 crore.
FY23 Performance
• Revenue stood around ₹250 crore.
• EBITDA reported approximately ₹10 crore.
• Profit before tax stood near ₹8 crore.
• Profit after tax reported around ₹6 crore.
Summary
Insolare Energy Limited is a fast-growing renewable energy EPC company transitioning into an integrated clean energy platform. With strong revenue growth, expanding project pipeline, and entry into green hydrogen and storage, the company is well-positioned to benefit from India’s energy transition.
Click Here to visit the official website of Insolare Energy Limited.
Promoters of Insolare Energy Limited
The following are the active promoters/leadership associated with the company:
| Name | Designation | LinkedIn Profile |
|---|---|---|
| Navashil Sharma | Founder & Director | View Profile |
| Ankur Sharma | Director | - |
Shareholding Pattern of Insolare Energy
| Name | Holding |
|---|---|
| Sunit Dharamveer Tyagi | 23.11% |
| Himanshu Devshankar Bhatt | 13.87% |
| Navashil V Sharma | 13.87% |
| Khazana Tradelinks Pvt Ltd. | 4.79% |
| Other | 41.66% |
Promoters of Insolare Energy
| Name | Designation | Experience | Linkedin Profile |
|---|---|---|---|
| Dr. Sunit Tyagi | MD | 30+ |  |
| Navashil Sharma | CEO | 25+ | |
| Pravir Mishra | COO | 30+ | |
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Frequently Asked Questions
Insolare Energy Limited unlisted shares are equity shares of Insolare Energy Limited that are not listed on NSE or BSE and are traded privately in the unlisted share market.
Yes, investors can buy Insolare Energy Limited unlisted shares through private market platforms that facilitate transactions in unlisted securities.
Yes, an active demat account is required to hold and receive Insolare Energy Limited unlisted shares.
Yes, Insolare Energy Limited unlisted shares can be sold in the private market before a potential IPO depending on buyer availability.
Yes. If Insolare Energy Limited gets listed in the future, pre-IPO investors are generally subject to a six-month lock-in period after listing as per SEBI regulations.
If Insolare Energy Limited shares are held for more than two years, gains are taxed at 20 percent with indexation. If sold earlier, gains are treated as short-term capital gains and taxed according to the investor’s income slab.
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