Gujarat, Ahmedabad 27 May 2025: Insolation Energy Limited (INA Solar), one of India’s leading solar panel manufacturers, has announced stellar financial results for the fiscal year ending March 31, 2025. The company reported a consolidated turnover of ₹1,333.76 crore, reflecting an impressive growth of 80.93% compared to ₹737.17 crore in FY 2023–24. This robust performance is a testament to INA Solar’s increasing market share and strong demand for its advanced solar solutions.
The company’s profitability also saw a significant upsurge. Gross margin rose by 86.44%, reaching ₹231.79 crore, while EBITDA more than doubled to ₹170.32 crore, up 102.35% year-on-year. Net profit after tax surged to ₹126.19 crore, marking a remarkable 127.50% increase from ₹55.47 crore in the previous year. Earnings per share (EPS) also showed substantial improvement, rising from ₹2.66 to ₹5.95—a 123.68% year-on-year growth.
Commenting on the performance, Chairman Mr. Manish Gupta and Managing Director Mr. Vikas Jain stated that INA Solar’s exponential growth is driven by a strategic focus on innovation, quality, and manufacturing scale. From a modest 80 MW PV module manufacturing capacity at its inception in 2017, the company is now set to achieve a milestone of 4 GW by July 2025. Furthermore, INA Solar has laid out ambitious expansion plans to reach 8 GW of module capacity, 3 GW of solar cell manufacturing, and 54,000 MTA of aluminum frame production by FY 2025–27.
With this trajectory, INA Solar has firmly positioned itself among India’s top 10 solar panel manufacturers. The company offers technologically advanced modules, including TOPCon, Monofacial, and Bifacial variants, produced in state-of-the-art facilities equipped with AI and robotics to ensure high precision and productivity. Reaffirming its commitment to nation-building, the company emphasized its dedication to the ‘Make-in-India’ initiative and its pivotal role in supporting Hon’ble Prime Minister Shri Narendra Modi’s goal of achieving 500 GW of green energy by 2030.
