INA Solar Doubles Q4 FY26 Revenue to INR 792 Crore, Net Profit up by 65 Percent
Insolation Energy (INA Solar) has reported a 99.87 percent YoY increase in Q4 FY26 revenue to INR 792.38 crore and a 64.76 percent rise in net profit to INR 69.84 crore, while FY26 revenue and net profit grew 61.02 percent and 59.75 percent respectively. The company also expanded its module manufacturing capacity to 5.5 GW.
May 26, 2026. By Mrinmoy Dey
In FY26, the company’s revenue from operations surged to INR 2,163.52 crore from INR 1,343.62 crore in FY 25, marking a 61.02 percent YoY growth. Net profit jumped by 59.75 percent to INR 200.63 crore in FY26 from INR 125.59 crore in FY25.
During FY26, the company successfully migrated to the Main Board of NSE and BSE, enhancing institutional visibility, governance standards and long-term shareholder participation. It achieved strong revenue growth driven by higher dispatches across utility-scale, C&I and distributed solar segments.
The company also expanded its module manufacturing capacity to 5.5 GW, supported by the ramp-up at its highly automated INA3 manufacturing facility. The company also reported progress on its strategic backward integration plan of developing a 4.5 GW TOPCon solar cell manufacturing facility and an 18,000 MTPA aluminium frame manufacturing facility at Narmadapuram, Madhya Pradesh.
Additionally, the company advanced execution across KUSUM-linked projects and further expanded its Independent Power Producer (IPP) portfolio of around 400 MW.
Commenting on the performance, Manish Gupta, Chairman, Insolation Energy, said, “FY26 has been a defining year for Insolation Energy as we successfully scaled operations, strengthened our manufacturing platform and delivered strong financial growth despite a dynamic industry environment. Our performance reflects disciplined execution, strong customer relationships and improving operating leverage across the business.”
He further added, “The migration to the Main Board marks an important milestone in INA's growth journey and reflects the Company's evolving scale, governance standards and long-term strategic vision. We remain focused on building a resilient and future-ready renewable energy platform supported by prudent capital allocation and sustainable value creation.”
Vikas Jain, Managing Director, Insolation Energy, said, “India is entering a significant domestic solar manufacturing cycle driven by rising renewable energy adoption, policy support and increasing focus on supply-chain localisation. INA is strategically positioned to benefit from this transition through its expanding manufacturing footprint and integrated value-chain strategy.”
He further added, “Our ongoing solar cell and aluminium frame expansion projects represent a major step toward backward integration and long-term competitiveness. With automation-led manufacturing, strong execution capabilities and a growing market presence, we remain confident of sustaining growth momentum while strengthening margins and operational efficiencies over the coming years.”
For FY27, the company will focus on the commissioning and ramp-up of its integrated solar cell and aluminium frame manufacturing facilities. It also plans to continue scaling module manufacturing operations and improving throughput efficiencies at the INA3 facility.
The company aims to expand its presence across utility-scale, rooftop, C&I and government-led solar programmes, while increasing focus on value-chain integration to enhance cost competitiveness and long-term margin sustainability. Additionally, it will continue strengthening execution visibility through higher order inflows, channel expansion and strategic project participation, stated the company.
please contact: contact@energetica-india.net.
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