BAJAJ BROKING
Insolation Energy has secured a ₹208.31 crore order for supplying solar PV modules for NTPC Khavada in Gujarat. The project will be completed within fiscal year 2024-25. The company’s FY24 net profit surged 419.4% to ₹55.47 crore.
Insolation Energy, through its wholly-owned subsidiary Insolation Green Energy, has secured a ₹208.31 crore order for the supply of solar PV modules. The order, placed by Zetwerk Manufacturing Business, is part of a larger solar energy project at the NTPC Khavada site in Gujarat. This contract, valued at ₹208,31,97,917, involves the delivery of high-efficiency 550 WP solar photovoltaic modules, with the project set for completion within fiscal year 2024-25.
The order marks a significant win for Insolation Energy, strengthening its presence in the renewable energy sector. The supply of 550 WP solar PV modules will contribute to NTPC's ongoing solar projects at the Khavada site in Gujarat. The large-scale project aims to enhance India’s renewable energy capacity further and reduce dependency on non-renewable energy sources.
The project is slated for completion in fiscal year 2024-25, adding to Insolation Energy’s growing portfolio of solar projects across the country. The company specialises in manufacturing high-efficiency solar panels and modules, and this order underscores its increasing role in India’s clean energy transition.
Insolation Energy's financial performance has been notable, with the company reporting a substantial rise in net sales and profit. In FY24, the company's consolidated net profit surged by 419.4% to ₹55.47 crore, driven by a 163.9% increase in net sales, which reached ₹737.17 crore. These figures highlight Insolation Energy’s strong market position and its ability to capitalise on the growing demand for solar energy solutions in India.
As the demand for renewable energy continues to rise, Insolation Energy’s latest contract signals its ongoing success in capturing key opportunities within the solar sector. This order positions the company well for further growth in the coming years, particularly as India expands its focus on clean energy projects. Investors will be closely monitoring how the company continues to leverage its expertise to secure similar contracts.
The new project at NTPC Khavada will not only contribute to the company’s bottom line but also strengthen its role in advancing India’s solar energy goals.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
JSW Steel Q2 Results FY24-25
25 Oct, 2024 | 2 Min. read
Bharat Electronics Q2 Results FY24-25 Highlights
25 Oct, 2024 | 2 Min. read
Coal India Q2 Results FY24-25 Highlights
25 Oct, 2024 | 2 Min. read
Commodities Market Today | WTI Crude Drops 0.5%, Brent Down 0.8%, Gold Rises 0.7%
25 Oct, 2024 | 1 Min. read
Share Market Today | Gift Nifty Hints At Flat Opening, Consolidates In Range
25 Oct, 2024 | 4 Min. read
Insolation Energy Bags ₹208 Crore Solar PV Module Order
25 Oct, 2024 | 2 Min. read
RBI Approves Amitabh Chaudhry’s Re-appointment as Axis Bank MD and CEO
25 Oct, 2024 | 2 Min. read
TCS, LTTS, Netweb, Tata Communications Partner With NVIDIA
25 Oct, 2024 | 2 Min. read
Gold Rate Today | Gold Prices Drop Over 1% Amid Stronger Dollar and Rising U.S. Yields
25 Oct, 2024 | 2 Min. read
KPI Green Arm Secures Solar Power Projects of 9 MW
25 Oct, 2024 | 2 Min. read
Hindustan Petroleum Q2 Results FY24-25
25 Oct, 2024 | 2 Min. read
Bharat Petroleum Q2 Results FY24-25 Preview | Estimate
25 Oct, 2024 | 1 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading