Insolare Energy
- Unlisted share
- Energy & Power
- ISIN INE0TSJ01021
At a glance
Sales
FY26
₹719 Cr
+64.1%on FY25What the company earned from its customers in the year.
Profit
FY26
₹23.57 Cr
+35.3%on FY25What was left after every cost and tax was paid.
Market valuecalculated
₹1,002 Cr
What the whole company would be worth at GrowFast's indicative price.
Net worth
FY26
₹221 Cr
What the owners would have left on paper if every debt was repaid.
From the company's published figures; sources are beside each figure further down the page.
Key details
- Company
- Insolare Energy
- ISIN
- INE0TSJ01021
- Sector
- Energy & Power
- Type of share
- Unlisted equity share
- Indicative price per share
- ₹170.28
- Price last updated
- 12 Oct 2026
- Minimum quantity
- Confirmed by the desk
- How you hold it
- In your own demat account
- Enquiries
- GrowFast desk, on WhatsApp
Indicative prices, illiquid shares. Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Company
About Insolare Energy
InSolare Energy is an Ahmedabad-based solar engineering, procurement and construction contractor that builds ground-mounted, rooftop, carport, canal-top and floating solar plants and solar parks for utilities and companies, and is adding battery storage, green hydrogen and its own module assembly. It was set up in 2008 and is run by its founders, Dr. Sunit Tyagi, Dr. Hemanshu Bhatt and Navashil Sharma, who together hold about half the shares, alongside financial investors who came in over 2024 and 2025.
Written from: insolare.com, crisil.com, acuite.in
Financials
Ask for the full annual report.
The figures on this page are the headline numbers. The desk can share the latest annual report and anything published since.
Ask for the financials- Sector
- Energy & Power
- ISIN
- INE0TSJ01021
- Head office
- Ahmedabad, Gujarat
- Principal shareholders
- Founder-directors Dr. Sunit Tyagi (23.28%), Navashil V. Sharma (13.98%) and Hemanshu D. Bhatt (13.87%)
- Key people
- Chairman & Managing Director: Dr. Sunit Tyagi; Executive Director & CEO: Navashil Sharma; Executive Director & CTO: Dr. Hemanshu Bhatt; CFO: Lalit Sethi
- Permanent employees
- 436 people
- Face value
- ₹2
- Shares outstanding
- 5,88,52,920 shares
- CIN
- U45206GJ2008PLC155375
- Website
- insolare.com
Read from: InSolare Energy annual report 2025-26 (company website), unless another source is shown on a card.
Key data
What the numbers mean
The ratios buyers look at, each said in plain words.
Price to earnings (P/E)calculated
42.4×
At this price you pay ₹42.4 for every ₹1 of profit the company made in the year.
Price to book (P/B)calculated
4.53×
At this price you pay ₹4.53 for every ₹1 of net worth on the company's books.
Profit margincalculated
3.3%
Out of every ₹100 of sales, ₹3.3 was left as profit.
Return on equitycalculated
10.6%
For every ₹100 of the owners' money, the company made ₹10.6 of profit in the year.
Debt to equitycalculated
1.05×
The company has borrowed ₹1.05 for every ₹1 of its owners' money.
- Indicative price
- ₹170.28
- Market valuecalculated
- ₹1,002 Cr
- price × shares
- No. of shares
- 5,88,52,920
- EPS
- ₹4.02
- Book value per share
- ₹37.61
- Face value
- ₹2
Figures marked “calculated” are worked out by GrowFast from its indicative price and the company's published figures for FY2025-26. They move with the price, and they are arithmetic, not a valuation.
Figures in ₹ crore
Financials
InSolare Energy Limited (formerly InSolare Energy Private Limited). As published in the company's audited reports. GrowFast has not audited them.
Sales, year by year
₹ crore. The darkest bar is the latest year.
FY25 to FY26: ₹438 Cr to ₹719 Cr.
Profit, year by year
₹ crore, after tax. A bar below the line is a loss.
FY25 to FY26: ₹17.42 Cr to ₹23.57 Cr.
| Particulars | FY25 | FY26Latest |
|---|---|---|
| Revenue from operations | 438.26 | 719.04▲64% |
| Other income | 3.19 | 6.88▲116% |
| Total income | 441.45 | 725.93▲64% |
| EBITDA (as stated in the directors' report) | 37.49 | 66.14▲76% |
| Depreciation and amortisation expense | 2.47 | 6.49▲163% |
| Finance costs | 11.49 | 24.66▲115% |
| Profit before tax | 23.53 | 34.98▲49% |
| Profit for the year | 17.42 | 23.57▲35% |
| Adjusted basic and diluted earnings per share (face value ₹2) (₹) | 3.33 | 4.02▲21% |
Rupees crore unless marked, consolidated. The change shown is the latest year against the year before. Read from: InSolare Energy annual report 2025-26 (company website).
Credit rating. Crisil BBB+/Stable (long term) and Crisil A2 (short term) on ₹100 crore of bank loan facilities, assigned 2 March 2026 (2 March 2026) CRISIL Ratings rating rationale, 2 March 2026
Ownership
Shareholding pattern
Who owns the company
As of 31 March 2026
23.3%Dr. Sunit Tyagi
- Largest holder
- 23.3%
- Top 3 together
- 51.1%
- Holders named
- 6
- Dr. Sunit Tyagi23.28%
- Navashil V. Sharma13.98%
- Hemanshu D. Bhatt13.87%
- Khazana Tradelinks Private Limited7.49%
- Anchorage Capital Scheme II6.39%
- Mukul Aggarwal5.10%
- Total70.11%
Read from: InSolare Energy annual report 2025-26 (company website)
Capital history
Fund raise history
| Date and detail | Type | Instrument | Price per share | Amount raised |
|---|---|---|---|---|
| 2025-01Fresh equity of ₹88.43 crore brought in during January 2025, as reported by the rating agency; the company's cash-flow statement shows ₹87.65 crore of proceeds from share issues in FY2024-25 | Equity infusion | Equity shares | Not stated | ₹88 Cr |
Read from: Acuité Ratings press release, 15 April 2025
Leadership
Management
Dr. Sunit Tyagi
Chairman & Managing Director
Navashil Sharma
Executive Director & CEO
Dr. Hemanshu Bhatt
Executive Director & CTO
Lalit Sethi
Chief Financial Officer
Dr. Bhavesh Agal
Compliance Officer & Chief Risk Officer
Kaikhushru Vicaji Taraporevala
Non-Executive & Independent Director
Gajanan V Gandhe
Non-Executive & Independent Director
Pooja Bahry
Non-Executive & Independent Director
Read from: InSolare Energy annual report 2025-26 (company website)
Corporate calendar
Events
- 29 Sept 2026AGM18th annual general meeting called for 29 September 2026Open
- 15 Apr 2026EGMExtraordinary general meeting called to approve the Employee Stock Option Plan 2026, covering up to 58,85,292 optionsOpen
- 2 Mar 2026Credit ratingCRISIL assigned BBB+/Stable and A2 to ₹100 crore of bank facilitiesOpen
- 12 Sept 2025Share splitEach ₹10 share split into five ₹2 shares (record date 12 September 2025), followed during the year by a 7:1 bonus issue of 5,14,96,305 sharesOpen
- 9 Sept 2025AGMShareholders raised the authorised equity capital from ₹1.60 crore to ₹29.80 croreOpen
- 15 Apr 2025Credit ratingAcuité upgraded the company to BBB/Stable and A3+ and rated a further ₹100 crore of bank facilitiesOpen
Reports and filings
Annual reports and results
Each link opens the document where its publisher keeps it.
Before you buy
Six things to check on any unlisted share.
The same list applies to every stock. None of it is advice on this one.
The company's latest financials
Revenue, profit and debt for the last three years, from its audited annual report. Ask the desk for the most recent set.
What the price implies
Compare the price per share with earnings and book value per share, and with listed companies in the same business.
Whether a listing is planned
A company may file for an IPO, delay it or never list. A listing, its timing and its price are never certain.
How you would sell
There is no exchange for these shares. You sell by finding a buyer, which can take time and may be at a lower price.
Lock-in after a listing
Shares bought before an IPO are usually locked in for a period after the company lists. Confirm the current rule before you buy.
Tax on your gains
Unlisted shares are taxed differently from listed ones. Check your position with a tax adviser.
Questions
What buyers ask about this stock.
Not answered here? Ask the desk.
Inquire about Insolare Energy on WhatsAppIs the price shown for Insolare Energy final?
No. It is an indicative price per share. The desk confirms the price and the quantity available when you inquire, and the confirmed price is the one you deal at.
How do I buy these shares?
Press Inquire. It opens a WhatsApp chat with the desk, with this stock already named. After the price and quantity are agreed, a 10% advance locks the deal. Once your KYC is complete you pay the balance, and the shares are transferred to your demat account.
Do I pay anything on this website?
No. No payment is taken and no order is placed on this site. Payment details are shared by the desk only after the deal is agreed.
What do I need before I can buy?
A demat account in your name and the documents for KYC: your identity and demat account details are verified before any deal, as the regulations require.
Can I sell my Insolare Energy shares to GrowFast?
GrowFast buys as well as sells. Press Inquire and tell the desk how many shares you hold; it will come back with what it can offer.
How do I sell Insolare Energy shares I already hold?
Tell the desk how many you hold. If a price is agreed, you transfer the shares from your demat account with a delivery instruction to your depository participant (a DIS, or its online equivalent), and payment follows as agreed with the desk.
Is there a lock-in if the company lists?
Shares held before an IPO are generally locked in for a period after the listing under SEBI's rules, which have changed over time. Ask the desk for the rule that applies today before you buy.
Is buying unlisted shares legal in India?
Yes. Shares of an unlisted company can be bought and sold privately and are transferred between demat accounts. They are not traded on a stock exchange, so the protections of an exchange do not apply.
What is the minimum I can buy?
It differs by stock and by what the desk holds at the time. The desk confirms the minimum quantity when you inquire.
What is an ISIN?
The 12-character code that identifies a security. It is how your depository knows exactly which share is being transferred to your demat account.
Why are unlisted shares riskier than listed ones?
Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
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Risk disclosure
Prices on this site are indicative, quoted per share, and are not an offer to buy or sell. The price and quantity for any deal are confirmed by GrowFast's desk at the time you deal.
Unlisted, pre-IPO and delisted shares are not traded on a stock exchange. They are illiquid, their prices can move sharply, and you may be unable to sell them when you wish or at all. A company that is expected to list may not do so.
Nothing on this site is investment advice or a promise of returns. Past prices do not predict future prices. Consider your own circumstances, and take independent advice, before you invest.
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GrowFast is not affiliated with, sponsored by or endorsed by Insolare Energy. Its name and logo belong to their owner and are shown only to identify the company. Figures about it come from published sources and have not been audited by GrowFast. See the Terms and Conditions.