Insolation Energy Ltd — Important, 23-02-2026: Company Update

Insolation Energy reported strong financial progress for Q3 and 9M FY26. Q3 revenue grew 77% YoY to INR 575 Cr, with 9M revenue up 44% to INR 1352 Cr. EBITDA margins expanded to over 14% for both periods, reflecting improved efficiency. The company now has 5.5 GW module capacity and is advancing its 4.5 GW TOPCon cell and 18,000-ton aluminum frame facilities, crucial for backward integration. A 2.1 GW order book provides strong visibility. While FY26 revenue expectations are revised to around INR 2000 Cr due to ramp-up delays, the long-term vision of INR 8000 Cr revenue remains on track by FY28/29, with EBITDA margins potentially reaching 20% post-cell production.