Insolation Energy Ltd. · NSE:INA
Insolation Energy — Q1 FY27 Earnings Presentation
32 slides from Insolation Energy's earnings presentation, Aug 21, 2026
Slide 1: Exchange intimation letter for Investor Presentation
21st August, 2026 To, To, The Manager, The Manager, Lis ng Department Lis ng Department BSE Limited Na onal Stock Exchange of India Limited Floor 25, P J Towers, ‘Exchange Plaza’ C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai – 400 001 Mumbai - 400 051 BSE Scrip Code: 543620 NS
Slide 2: Insolation Energy Ltd Investor Presentation August 2026
INSOLATION ENERGY LTD Investor Presentation | August 2026
Slide 3: Disclaimer
This presentation has been prepared by Insolation Energy Limited (“INA” or the “Company”) solely for information purposes. It does not constitute an offer, recommendation or invitation to purchase or subscribe to any securities. It shall not form the basis or be relied on in connection with any cont
Slide 4: Quarterly Update, Business Overview, Investment Thesis, Annexures
01 Quarterly Update 02 Business Overview 03 Investment Thesis 04 Annexures
Slide 5: Quarterly Update
QUARTERLY UPDATE
Slide 6: Mr. Manish Gupta
Expert leadership driving sustainable growth and strategic market expansion Innovation Leadership: Mr. Manish Gupta, Founder and Chairman, propels INA to new heights through his visionary leadership and deep industry expertise. Diverse Experience: With over 25years of leadership across sectors such
Slide 7: Mr. Vikas Jain
Expert leadership driving sustainable growth and strategic market expansion Driving Force : Mr. Vikas Jain, Founder and Managing Director, has been instrumental in steering Insolation Energy toward becoming one of India’s leading solar panel manufacturers. Quality Advocate : A champion of excellence
Slide 8: Board of Directors
Mr. AKHILESH KUMAR JAIN (Non-Executive Director) BE from Malviya Regional Engineering College, Jaipur, and holds an Honorary Doctorate in Business Administration from Commonwealth University. Former Managing Director of Mr. RAJIV JAIN (Independent Director) Rajasthan Electronics & Instruments Ltd. (
Slide 9: Key Management Team
Mr. Ravi Dusad Mr. Sourav Das Chief Financial Officer Mr. Nitesh Sharma GM - Quality Company Secretary and Compliance Officer Mr. Subhash Prajapati Mr. Deepak Jain Chief Technical Officer GM - Purchase & Supply Chain Mr. Manish Gupta Senior VP - Operations & Technology Mr. Ankit Malhotra Mr. Devesh
Slide 10: Financial Snapshot
Strong execution supported by manufacturing expansion, vertical integration and sustained demand visibility. FINANCIAL SNAPSHOT OPERATIONAL MOMENTUM Strong FY26 execution momentum Strong demand across utility-scale, C&I, rooftop and government solar projects continued to support business execution.
Slide 11: Q1 FY27
All Figures In Rs. Cr & Margin in % Total Revenue EBITDA & Margins (%) PAT & Margins (%) 100% 105.37% 15.93% 10.31% 11.88% 5.10% -11.83% Q1 FY27 32.97% 745.40 362.94 76.87 43.12 57.81 38.02 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 01 02 03 97% Revenue Growth (CAGR) 108% PAT Growth (CAGR) 100%
Slide 12: Q1 FY27 Profit and Loss Statement
Particulars (Rs. Cr) Q1FY27 Q1FY26 YoY % FY 26 Total Revenue 745.40 362.94 105.37% 2163.52 Expenses 668.53 305.14 119.09% 1858.90 EBITDA 76.87 57.81 32.97% 304.62 EBITDA Margin % 10.31% 15.93% -562 bps 14.07% Depreciation and Amortisation 16.92 2.79 506.45% 35.80 Finance Cost 12.44 2.97 318.86% 23.5
Slide 13: INA 4: Cell Facility (TOPCon G12R) Progress Roadmap
INA 4: CELL FACILITY (TOPCon G12R) Progress roadmap — what’s done and what’s next FCO — Dec Major Utilities First Tranche Machinery Commissioning 2026 PEB Erection Main Building Civil Ordered Disbursed Installation & FAT Trial Production ✓ Done ✓ Done ✓ Done ✓ Done Next • On Time Next • On Time TARG
Slide 14: Business Update
SOLAR Va BUSINESS UPDATE
Slide 15: Together We Shine
Together We Shine A BSE NSE listed company founded in Jaipur in 2017, INA has scaled from 80 MW to 5.5 GW in eight years, delivering quality projects, maintaining a top-10 position among India’s PV manufacturers, and building a pan-India brand with broad customer reach CUSTOMER BASE EMPLOYEES 40,000
Slide 16: Solar Manufacturing Value Chain and Multi-Channel Business Model
Solar manufacturing Value Chain Polysilicon Ingot Wafer Cell Module (Q3 FY2027) (Existing) Diversified Multi-Channel Business Model Multi-channel presence ensures demand stability, reduces customer concentration risk and enhances revenue visibility B2C B2B EPC Government Contracts IPP Residential &
Slide 17: End-to-End Integrated Solar Energy Solution Provider
End-to-End Integrated Solar Energy Solution provider Robust Workforce High-Tech Manufacturing 1,500+ personnel and a pan-India sales team 5.5 GW capacity at Jaipur, on TopCon M10R & G12R lines 01 04 Advanced Quality Control Strategic Partnerships Class 6 clean rooms; 15+ tests across in-house R&D, 0
Slide 18: Backward-integrated manufacturing depth and forward-integrated reach
Backward-integrated manufacturing depth and forward-integrated reach across B2B and B2C PILLAR 1: MANUFACTURING CAPABILITIES (THE "MAKE") PILLAR 2: FORWARD INTEGRATION (THE "REACH") Backward Integrated for Quality, Control and Scale Delivering Value Across B2B and B2C Markets ▪ 5.5 GW Modules (Jaipu
Slide 19: Pan-India Market Presence, Strategically Located Manufacturing
Pan-India Market Presence, Strategically Located Manufacturing Jammu & Serving customers across India through a strategically located Kashmir Sales / Channel Presence manufacturing network and an extensive sales, EPC and channel INA 1 (Module): Daulatpura, Jaipur partner ecosystem. Himachal Manufact
Slide 20: Solar Cell Manufacturing Excellence
SOLAR CELL MANUFACTURING EXCELLENCE Powering the Future with Innovation, Efficiency & Scale ADVANCED TECHNOLOGY State-of-the-art cell manufacturing facility with cutting-edge technology HIGH EFFICIENCY & QUALITY Built for high-efficiency output with rigorous quality control at every step SUSTAINABLE
Slide 21: Investment Thesis
INVESTMENT THESIS
Slide 22: From commodity module assembly to integrated, technology-led manufacturing
From commodity module assembly to integrated, technology-led manufacturing 01 02 04 05 03 TODAY INDUSTRY IS TOMORROW TECHNOLOGY Industry Margin Reset Preparing for Scale VALUE IS MOVING TO Structural Value Creation Leads Differentiation Integrated Manufacturing + + Solar Modules Aluminium Cells Fram
Slide 23: Structural Demand Drivers Supporting Sustainable Growth
Structural Demand Drivers Supporting Sustainable Growth Green Open Access PM-KUSUM ▪ Threshold reduced to 100 kW ▪ 34.8 GW agricultural solar target ▪ Expands renewable adoption across commercial ▪ Strong rural & decentralized solar demand & industrial users ▪ Creates sustained module demand over th
Slide 24: Integrated Today. Stronger Tomorrow. Sustainable Value for All.
Integrated Today. Stronger Tomorrow. Sustainable Value for All. WHY CELL? THE SHIFT DRIVING VALUE Higher Value Policy Tailwinds Supply Security Structural Demand Cells capture ~2x more value per ALMM, BCD & domestic Reduces import dependence, Utility-scale, C&I, rooftop, AI & data watt vs. modules m
Slide 25: Growth & Execution Catalysts
Recently secured large-scale orders already provide clear execution visibility for the coming two quarters. GROWTH & EXECUTION CATALYSTS RECENTLY SECURED ORDERS Aluminum Frame Ramp-Up EXECUTION CATALYSTS NTPC Renewable Energy Jul 2026 New facility operational in Q2, scaling towards full run-rate and
Slide 26: Vision: India's leading cleantech solutions provider
To become India’s leading cleantech solutions provider, setting the benchmark in integrated solar manufacturing and delivering technology Ongoing across the globe 18000MT Frames COD: Q3 FY27 Ongoing IPP 100MW+ Projects 400MW+ : FY27 Ingots Wafers Cells Modules Current Capacity Engaged with a leadin
Slide 27: Annexures
ANNEXURES
Slide 28: Awards and Recognition
No. 1 globally among listed Ranked 22nd by Fortune India's Featured in Forbes The Most Trusted Recognized as one of the Top solar manufacturers for four Emerging 100 Companies (April India’s ‘Best Under A Brands of India 10 Solar Panel Manufacturers consecutive times in the 2026 issue) Billion’ (202
Slide 29: Trusted partner for key government schemes
Trusted partner for key government schemes, providing reliable solar modules
Slide 30: Historical Profit and Loss Statement
Particulars (INR in Cr) FY 2022 FY2023 FY2024 FY2025 FY2026 Revenue 215 280 741 1,343 2163 Gross Profit 32 38 124 232 431 EBITDA 14 19 84 170 305 EBITDA Margin % 6.3% 6.6% 11.4% 12.8% 14.0% Depreciation and amortisation 2 2 7 9 36 Earnings Before Interest & Tax 12 17 77 161 269 Finance Cost 2 3 10 7
Slide 31: Historical Balance Sheet
Particulars (INR in Cr) FY 2022 FY2023 FY2024 FY2025 FY2026 Particulars (INR in Cr) FY 2022 FY2023 FY2024 FY2025 FY2026 Shareholder's Equity Non - Current Assets Share Capital 15 21 21 22 22 Property, Plant and Equipment 11 38 46 77 474 Other Equity 7 32 88 594 785 Capital work-in-progress - - 1 46
Slide 32: Thank You
Insolation Energy Ltd. Company Contact: Nitesh Sharma Company Secretary and Compliance Office Mail ID: cs@insolationenergy.in Thank You Investor Relations Contact: Khushbu Singhania Go India Advisors Mail ID: khushbu@goindiaadvisors.com Tanishka Tanvi Go India Advisors Mail ID: tanishka@GoIndiaAdvis