BSE: 543620 | NSE: | Electronics - Components | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Insolation Energy Ltd is a average quality company.
The key valuation ratios of Insolation Energy Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Insolation Energy Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 12.6% | 24.4% | 31.8% | 40% | 27.6% | 16.3% | 8% | - |
| Value Creation Index ⓘ | -0.1 | 0.8 | 1.4 | 2.0 | 1.1 | 0.2 | -0.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||||||
| Sales ⓘ | 51.1 | 64.5 | 88.8 | 163 | 215 | 259 | 229 | 229 |
| Sales YoY Gr. | - | 26.3% | 37.6% | 83.3% | 32.4% | 20.1% | -11.4% | - |
| Adj EPS ⓘ | 0.4 | 1.4 | 2.1 | 4.6 | 4.6 | 3 | 1.3 | 1.4 |
| YoY Gr. | - | 225% | 44.1% | 123.3% | 0.9% | -36.2% | -55.1% | - |
| BVPS (₹) ⓘ | 2 | 3.5 | 5.5 | 10.1 | 14.6 | 22.8 | 23.6 | 23.6 |
| Adj Net Profit ⓘ | 0.7 | 2.1 | 3.1 | 6.9 | 7 | 6.2 | 2.8 | 3 |
| Cash Flow from Ops. ⓘ | -0.9 | 1.6 | 3.9 | 1.3 | 9.9 | -19.9 | 13.7 | - |
| Debt/CF from Ops. ⓘ | -12.9 | 7.8 | 3.2 | 15.9 | 2.9 | -2 | 2.5 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 28.9% | 12.1% | -11.4% | ||||
| Adj EPS ⓘ | NA | -1.4% | -33.9% | -55.1% | ||||
| BVPSⓘ | NA | 46.5% | 32.6% | 3.5% | ||||
| Share Price | - | - | - | 510.5% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 20.5 | 49.7 | 45.2 | 58.7 | 37.3 | 17.5 | 5.6 | 5.8 |
| Op. Profit Mgn % ⓘ | 5.3 | 8.6 | 8.2 | 7.8 | 6.5 | 4.7 | 1.9 | NAN |
| Net Profit Mgn % ⓘ | 1.3 | 3.3 | 3.5 | 4.2 | 3.2 | 2.4 | 1.2 | 1.3 |
| Debt to Equity ⓘ | 4 | 2.4 | 1.5 | 1.4 | 1.3 | 0.8 | 0.7 | - |
| Working Cap Days ⓘ | 0 | 72 | 67 | 67 | 78 | 89 | 106 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 31 | 35 | 26 | 35 | 49 | 51 | 0 |
Sales growth is growing at healthy rate in last 3 years 12.12%
Debt to equity has declined versus last 3 years average to 0.70
Return on Equity has declined versus last 3 years average to 5.80%
Net Profit has been subdued in last 3 years -33.88%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 1.4 | 26.6 |
| TTM Sales (₹ Cr.) | 229 | 737 |
| BVPS (₹.) ⓘ | 23.6 | 50.4 |
| Reserves (₹ Cr.) ⓘ | 30 | 88 |
| P/BV ⓘ | 172.46 | 80.79 |
| PE ⓘ | 0.00 | 152.88 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 595.15 / 4750.00 |
| All Time Low / High (₹) | 72.55 / 4750.00 |
| Market Cap (₹ Cr.) | 8,481 |
| Equity (₹ Cr.) | 20.8 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 187 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|
| Sales | 51 | 64 | 89 | 163 | 215 | 259 | 229 |
| Operating Expenses ⓘ | 48 | 59 | 82 | 150 | 202 | 246 | 225 |
| Manufacturing Costs | 2 | 4 | 3 | 8 | 12 | 11 | 6 |
| Material Costs | 44 | 50 | 71 | 131 | 178 | 222 | 204 |
| Employee Cost | 2 | 2 | 3 | 4 | 5 | 5 | 5 |
| Other Costs ⓘ | 1 | 3 | 5 | 7 | 7 | 8 | 10 |
| Operating Profit ⓘ | 3 | 6 | 7 | 13 | 14 | 12 | 4 |
| Operating Profit Margin (%) | 5.3% | 8.6% | 8.2% | 7.8% | 6.4% | 4.7% | 1.9% |
| Other Income ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | 4 |
| Interest ⓘ | 1 | 1 | 2 | 2 | 3 | 3 | 3 |
| Depreciation ⓘ | 1 | 2 | 1 | 1 | 2 | 2 | 1 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 1 | 3 | 5 | 9 | 9 | 8 | 4 |
| Tax ⓘ | 0 | 1 | 1 | 2 | 2 | 2 | 1 |
| Profit After Tax | 1 | 2 | 3 | 7 | 7 | 6 | 3 |
| PAT Margin (%) | 1.3% | 3.3% | 3.5% | 4.2% | 3.2% | 2.4% | 1.3% |
| Adjusted EPS (₹) | 0.5 | 1.4 | 2.1 | 4.6 | 4.6 | 3.0 | 1.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 3 | 5 | 8 | 15 | 22 | 48 | 51 | |||
| Share Capital ⓘ | 3 | 3 | 3 | 3 | 15 | 21 | 21 | |||
| Reserves ⓘ | 1 | 3 | 6 | 13 | 7 | 28 | 30 | |||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Debt | 12 | 12 | 12 | 21 | 25 | 37 | 34 | |||
| Long Term Debt | 7 | 7 | 6 | 7 | 7 | 20 | 17 | |||
| Short Term Debt | 4 | 5 | 7 | 14 | 18 | 17 | 17 | |||
| Trade Payables | 3 | 4 | 4 | 11 | 12 | 12 | 8 | |||
| Others Liabilities ⓘ | 1 | 2 | 2 | 5 | 9 | 9 | 5 | |||
| Total Liabilities ⓘ | 19 | 22 | 26 | 52 | 68 | 106 | 98 | |||
Fixed Assets | ||||||||||
| Gross Block | 9 | 10 | 12 | 16 | 16 | 17 | 17 | |||
| Accumulated Depreciation | 1 | 3 | 4 | 5 | 7 | 9 | 10 | |||
| Net Fixed Assetsⓘ | 8 | 7 | 8 | 10 | 9 | 8 | 7 | |||
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Investmentsⓘ | 0 | 0 | 0 | 0 | 2 | 5 | 8 | |||
| Inventories | 5 | 5 | 6 | 15 | 23 | 29 | 15 | |||
| Trade Receivables | 3 | 6 | 8 | 10 | 17 | 25 | 15 | |||
| Cash Equivalents | 0 | 0 | 1 | 0 | 7 | 16 | 24 | |||
| Others Assetsⓘ | 3 | 4 | 3 | 17 | 10 | 23 | 30 | |||
| Total Assets ⓘ | 19 | 22 | 26 | 52 | 68 | 106 | 98 | |||
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -1 | 2 | 4 | 1 | 10 | -20 | 14 |
| PBT ⓘ | 1 | 2 | 3 | 7 | 7 | 6 | 3 |
| Adjustment ⓘ | 1 | 2 | 1 | 1 | 2 | 2 | 1 |
| Changes in Working Capital ⓘ | -3 | -3 | -0 | -7 | 1 | -28 | 9 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | -1 | -1 | -2 | -4 | -1 | 0 | -1 |
| Capex | -1 | -1 | -2 | -4 | -1 | 0 | -1 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 0 | -1 | -1 | 2 | -3 | 30 | -5 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 20 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | -1 | 2 | -1 | 13 | -3 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | -2 | -3 | -3 |
| Net Cash Flow ⓘ | -2 | 0 | 1 | 0 | 6 | 10 | 8 |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 22.65 | 52.14 | 45.66 | 58.7 | 37.34 | 17.7 | 5.93 | |||
| ROCE (%) | 12.56 | 24.39 | 31.79 | 40.02 | 27.63 | 16.27 | 7.95 | |||
| Asset Turnover Ratio | 2.67 | 3.11 | 3.64 | 4.15 | 3.61 | 2.98 | 2.25 | |||
| PAT to CFO Conversion(x) | -1 | 1 | 1.33 | 0.14 | 1.43 | -3.33 | 4.67 | Working Capital Days | ||
| Receivable Days | 23 | 25 | 29 | 20 | 22 | 29 | 32 | |||
| Inventory Days | 33 | 26 | 23 | 24 | 32 | 37 | 36 | |||
| Payable Days | 26 | 24 | 19 | 20 | 23 | 19 | 18 | |||
The company was originally incorporated as a Private Limited Company in the name of “Insolation Energy Private Limited” under the provisions of the Companies Act, 2013 vide Certificate of Incorporation dated October 15, 2015 issued by Registrar of Companies, Jaipur, Rajasthan. Subsequently, the company was converted into Public Limited Company vide shareholders resolution passed at the Extra-Ordinary General Meeting held on December 24, 2021 and name of company was changed to “Insolation Energy Limited” pursuant to issuance of Fresh Certification of Incorporation dated February 7, 2022 by Registrar of Companies, Jaipur, Rajasthan.
The company is engaged in the business of manufacturing solar panels and modules of high efficiency of various sizes as per the demand in the market from its fully automatic a state-of-the-art 200 MW (Rated Installed Capacity) SPV Module manufacturing unit located at Jaipur, spread in more than 60,000 Sq. ft area with latest machinery and stringent quality assurance process which delivers quality solar PV module. In addition to the manufacture of solar PV modules, the company also trades in Solar Power Conditioning Unit (PCU) which uses solar energy and power from the grid to charge batteries and tall tabular Lead Acid Batteries which are used to store energy generated from the solar panels. It is also an integrated solar energy solutions provider offering engineering, procurement and construction (EPC) services to its customers.
The company has built a strong brand reputation for its solar PV modules manufactured on a fully automatic state-of-art manufacturing unit and sold under the brand name of ‘INA’ along with a successful track record of developing, engineering and constructing. It strives to deliver reliable solar solutions through innovative products, and it achieves this majorly through its specialized high efficiency PV module manufacturing line and comprehensive EPC solutions. The company adheres to some of the industry’s best quality product accreditations. The company has obtained certifications such as ISO 9001:2015, ISO 45001:2018, ISO 14001:2015, BIS-IS:14286 etc. The company’s solar PV modules are currently manufactured using both polycrystalline and Mono-PERC crystalline cell technology. Its portfolio of solar energy products consists of the following solar PV modules which includes bifacial (glass - to - Transparent back sheet modules) and are differentiated on the basis of solar PV module technology and type as well as cell size: (i) polycrystalline modules; and (ii) monocrystalline passivated emitter and rear cell (Mono PERC) modules.
Business area of the company
The company is a national solar energy provider and has set up a state of the art fully automatic solar PV module manufacturing plant at Jaipur. Portfolio covers both Poly and Mono crystalline modules and new innovative products such as Twin power, Dual glass (Glass to Glass), BIPV, Poly, Mono & Mono PERC. Its solar PV modules are rated highly efficient, provide better generation and offer unique technical advantages across varied applications.
Awards and Accreditations
Key events and milestones
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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