Insolation Energy has witnessed a remarkable surge in its share price since its debut on the BSE SME on October 10, 2022, soaring by an astounding 4,705.6% as of today.
Investors who were allotted shares during this period would have seen substantial gains, amounting to approximately ₹51.90 lakhs. The market capitalization of Insolation Energy currently stands at ₹3,603.94 crore, based on BSE data from Monday’s session.
The share price of Insolation Energy opened at ₹1,710 apiece and reached an intraday high of ₹1,743.85, with a low of ₹1,593 apiece. The company made a strong debut on the BSE SME in 2022, opening with a premium of 111.4% at ₹76.1 compared to its issue price of ₹36.
By the end of the first day of trading, the share price had surged by 121.9%. The Insolation Energy IPO garnered significant investor interest, with an overall subscription status of 192.7x during the four-day subscription period.
According to trendlyne data, the stock price has risen by 1,070.88% over the past year, outperforming its sector by 950.85%. Dr. Ravi Singh, SVP – Retail Research at Religare Broking Ltd, attributed this performance to Insolation Energy’s position as a solar panel and module manufacturer.
Government initiatives promoting green energy, along with schemes like the PM Surya Ghar Scheme, have contributed to increased sales for the company. Additionally, recent earnings have exhibited stability.
In terms of technical analysis, the stock is currently in an uptrend and is expected to reach levels of ₹1,800 in the near term.
Insolation Energy has also experienced significant revenue growth, with its revenue doubling to ₹738 crore in FY24, maintaining a consistent compound annual growth rate (CAGR) of 20% over the past three years. In a recent exchange filing, the company highlighted its achievements, stating that its concerted efforts and unwavering dedication have led to a turnover of ₹738.80 crores in the solar energy sector, with ₹104.57 crores generated in March 2024 alone.
Looking ahead, Insolation Energy aims to double its consolidated revenue by FY 2025 as it enters a phase of rapid expansion. The company plans to increase its capacity for manufacturing solar panels to 3000 MW and aluminum frames to 6000 metric tons annually by FY 2025–2026.
