Insolation Energy Ltd. · NSE:INA
Insolation Energy — Q3 FY26 Earnings Presentation
33 slides from Insolation Energy's earnings presentation, Feb 16, 2026
Slide 1: Regulation 30 disclosure letter to BSE
16th February, 2026 To, The Manager – Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400 001 BSE Scrip Code: 543620 Symbol: INA Subject: Disclosure under regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regu
Slide 2: Investor Presentation | February 2026
Investor Presentation | February 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: 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 suc
Slide 5: 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 6: Board of Directors
| Board Of Directors Mrs. PAYAL GUPTA Non-Executive Director Payal Gupta is the Non-Executive Director of our Company. She has completed her Bachelor of Arts from University of Delhi and Completed her Master of Arts from Himachal Pradesh University. She has rich and varied exposure of over 10 years
Slide 7: Board of Directors
Mr. ANIL KUMAR GUPTA independent Director Mr. Gupta, Former MD WVNL, isa seasoned professional with a diverse background in the energy sector. He obtained his BE in Electrical Engineering from MITS, Gwalior. Carrying Vast Experience with RSEB, advancing to leadership roles like Chief Engineer. He's
Slide 8: Expert leadership driving sustainable growth and strategic market expansion
Expert leadership driving sustainable growth and strategic market expansion 7
Slide 9: Table of Content
01 Quarterly Updates 02 Business Overview Table of Content 03 Investment Thesis 04 Annexures
Slide 10: Quarterly Update
QUARTELY UPDATE
Slide 11: Capacity expansion: solar modules, cells, aluminum frames
Solar Modules Solar Cells Aluminum Frames Drive revenue growth and strengthen Enable backward integration and align Strengthen the supply chain to enhance Rationale pan-India market presence with the government’s ALCM initiative margins and ensure consistent quality Existing Capacity 5.5 GW - - Prop
Slide 12: Q3 and 9M FY26 highlights
Revenue EBITDA PBT PAT 9M FY26 ₹1,352.1 Cr ₹195.5 Cr ₹159.0 Cr ₹130.8 Cr ↑ 44.3% YoY ↑ 69.3% YoY ↑ 59.2% YoY ↑ 57.2% YoY ₹575.3 Cr ₹81.7 Cr ₹62.0 Cr ₹50.7 Cr Q3 FY26 ↑ 77.0% YoY ↑ 174.9% YoY ↑ 174.6% YoY ↑ 173.5% YoY 01 02 03 Production & Capacity Expansion: Backward Integration & Project Progress:
Slide 13: Revenue, EBITDA and PAT: Q3 FY26 and 9M FY26
Revenue from Operations EBITDA & Margins (%) PAT & Margins (%) In Cr 9.1% 14.2% 5.7% 8.8% 77.0% 174.9% 173.5% Q3 FY26 575.3 81.7 325.0 50.7 29.7 18.5 Q3 FY25 Q3 FY26 Q3 FY25 Q3 FY26 Q3 FY25 Q3 FY26 Revenue from Operations EBITDA & Margins (%) PAT & Margins (%) 12.3% 14.5% 8.9% 9.7% 44.3% 67.5% 8% 6%
Slide 14: Profit and loss statement
Particulars (Rs. Cr) Q3FY26 Q3FY25 YoY Q2FY26 QoQ 9MFY26 9MFY25 YoY Revenue from Operations 575.3 325.0 77.0% 414.9 38.7% 1,352.1 937.0 44.3% Other Income 6.9 5.4 27.9% 11.0 -37.1% 19.1 10.2 87.4% Total Income 582.3 330.4 76.2% 425.9 36.7% 1,317.1 947.2 39.1% Expenses 500.6 300.7 66.5% 369.9 35.3% 1
Slide 15: Company Overview
COMPANY OVERVIEW
Slide 16: Together We Shine
Together We Shine Insolation Energy Limited, founded in 2017, operates in the renewable energy sector with a strong focus on manufacturing solar PV modules. The company is consistently ranked among India’s top 10 PV module manufacturers and has built a pan-India brand presence, supplying high-qualit
Slide 17: Key investment strengths
Strategic Expansion into Adjacent Diversified Distribution Channels: Segments: Multi-channel presence across Expansion into solar cells, aluminum government, EPCs, developers, OEMs and frames and Battery Energy Storage channel partners ensures demand Systems (BESS) enhances vertical stability, reduc
Slide 18: Precision engineering for high-quality manufacturing
Precision Engineering for high-quality manufacturing INA 1- Module Factory Insolation Energy Ltd., Daulatpura, Jaipur 200 MV INA 2- Module Factory Insolation Green Energy Pvt. Ltd., Jatawali, Jaipur 750 MV INA 3- Module Factory Insolation Green Energy Pvt. Ltd., Sawarda, Jaipur 4.5 GV INA 4- Cell Fa
Slide 19: Current Manufacturing Capacity
We manufacture solar PV modules, which constitute the primary operating and revenue-generating segment of the Company. Our module manufacturing operations are designed for scale, reliability, and compliance with Indian and global standards, serving utility-scale, government, and C&I solar markets. C
Slide 20: Multi-channel approach for maximum market reach
Multi – channel approach for maximum market reach 01 Government 02 EPC 03 Developers 04 Channel 05 OEM 20
Slide 21: India: Battery Energy Storage Requirement
India: Battery Energy Storage Requirement BESS Capacity Requirement (MWh) 2,01,500 Rapid renewable scale up driving BESS requirements accelerate structural need for grid-scale sharply in 2027–32, marking the next BESS to ensure grid stability phase of India’s energy transition. 34,720 01 02 2022-27
Slide 22: Solar Target 486 GW
Energy Consumption Pattern and Potential for growth in solar sector Sales To Meet Current 2030 goals Solar Target 2030 CAGR: 19% Solar Industry Growth 35 GW Installation Solar AC/yr 486 GW 1 Billion Ton 280 GW Reduction in emission AC 50/50 Fossil vs Non-Fossil Source: MNRE 22
Slide 23: The government push to bring dream to reality
The government push to bring dream to reality Solar Parks RPOs PM Surya Ghar Target FY-26: 40 GW Target FY-30: 43.3% Target FY27: 30 GW (1 crore homes) 10 GW already in operation From 29.9% in FY25 20 lakh already installed PM Kusum CPSU Phase 2 RE Open Access Target FY-26: 35 GW Target FY-27: 12 GW
Slide 24: The government push to bring dream to reality
The government push to bring dream to reality PLI ALMM ALCM Target : ₹240 Bn outlay To safeguard Indian manufacturers PM Surya mandate DCR but after 50GW Integrated fab Mandatory for government projects ALCM all govt tenders to be DCR State Subsidies GST Cut Quality Control Up to 30% CAPEX and OPEX
Slide 25: Becoming India's leading cleantech solutions provider
To become India’s leading cleantech solutions provider, setting the benchmark in Ongoing integrated solar manufacturing and delivering technology across the globe 18000MT COD: Q1 FY27 Frames Ongoing 100MW+ IPP 400MW+ : FY27 Projects Ongoing Ingots Wafers Cells Modules 100MW+ EPC and 400MW+ : FY27 O&
Slide 26: Growth Journey
Growth Journey +Inception and commissioning of our first automated turnkey Poly Line +Insolation Green Energy Pvt. Ltd was formed: 100% subsidiary of Insolation Energy +750 MW new line for PERC was ordered 20229 sTransitioned toa public limited company on the BSE SME + First pure solar player to be
Slide 27: Harnessing cricket's global reach to promote solar energy adoption
Harnessing circket’s global reach to promote solar energy adoption 28
Slide 28: Corporate entities and strategic alignment
An overview of our corporate entities and their strategic alignment within the group INSOLATION GREEN ENERGY INSOLATION GREEN INFRA PVT. LTD. PVT. LTD. MANUFACTURING INSOLATION 1. EPC 2. IPP CAPACITY FY27 ENERGY PV Modules LTD. Kusum A, B, C 7 GW Cell IPP Solar Park 4.5 GW O&M Services Aluminum Fram
Slide 29: Annexure
ANNEXURE
Slide 30: Awarded and certified for consistent quality and technological advancement
Awarded and certified for consistent quality and technological advancement 31
Slide 31: Trusted partner for key government schemes
Trusted partner for key government schemes, providing reliable solar modules 32
Slide 32: Historical financials FY21-FY25
Revenue from Operations Gross Profit & Gross Margin 164% 17% 17% 15% 15% 14% 81% 232 33% 30% 1,334 737 32 38 124 161 25 215 279 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 Revenue Revenue growth Gross Profit Gross margin EBITDA & EBITDA Margin PAT & PAT Margin 13% 9% 11% 8% 7% 6% 7% 4% 170 4%
Slide 33: Thank You
Thank You Company Contact : Ravi Dusad Nitesh Sharma Chief Financial Officer Company Secretary and Compliance Office Mail ID: ravi.dusad@insolationenergy.in Mail ID: cs@insolationenergy.in Monali Jain Khushbu Singhania Go India Advisors Go India Advisors Investor Relations Contact : Mail id: monali@