Insolaon Energy Ltd. (INA) has announced a remarkable 181.86% year-over-year volume growth on a consolidated basis. This surge represents the highest quarterly sales the company has achieved since its inception.
In comments on the impressive figures, Mr. Manish Gupta, Chairman, and Mr. Vikas Jain, Managing Director, highlighted the robust demand driving the company’s success. They expressed confidence that the current momentum will continue into future quarters.
The management believes that operating leverage will significantly enhance profitability in light of the substantial revenue growth. The company forecasts that the fiscal year 2024-25 will be a standout year for revenue, with a potential margin expansion of 200-250 basis points.
Looking ahead, Insolaon Energy Ltd. plans to invest in expanding its solar panel manufacturing capacity by an additional 3 GW, bringing the total installed capacity to approximately 4 GW. Additionally, the company will increase its aluminum framing capacity to 12,000 MT by 2024-25.
A technological upgrade is also in progress, with a new 1.4 GW cell manufacturing capacity set to be commissioned by 2025-26. This initiative aims to meet the current strong demand and showcase the latest advancements in technology.
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