Insolation Energy MD, chairman and AGM
NSE: INABSE: 543620Electrical EquipmentSmall Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹68.94.
28 Oct: open ₹69.00, high ₹73.95, low ₹68.01
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹1,572 Cr1,037th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- No recent results
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- No recent results
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 16,25,94536.3% delivered
Insolation Energy's chairperson is Manish Gupta and its managing director Vikas Jain, as filed for the quarter to Jun 2026. Its latest annual general meeting was on 28 Sep 2026.
Insolation Energy board of directors
At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- ChairpersonManish Gupta
- Managing directorVikas Jain
- Company Secretary and Compliance OfficerNitesh Sharma
9 directors4 independent2 executive3 non-executive
- Manish Gupta · ChairpersonExecutive · joined Oct 2015 · 128 months as independent · 1 listed board
- Vikas Jain · Managing directorExecutive · joined Oct 2015 · 128 months as independent · 1 listed board · 1 committee seat
- Payal GuptaNon-executive · joined Dec 2021 · 54 months as independent · 1 listed board · 1 committee seat
- Ekta JainNon-executive · joined Dec 2021 · 54 months as independent · 1 listed board
- Akhilesh Kumar JainNon-executive · joined Jan 2022 · 53 months as independent · 3 listed boards · 1 committee seat
- Anil Kumar GuptaIndependent · joined Feb 2024 · 28 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
- Subir Bikas MitraIndependent · joined Jul 2025 · 11 months as independent · 1 listed board · 1 as independent · 1 committee seat
- Rajiv JainIndependent · joined Oct 2025 · 8 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
- Shreemat PandeyIndependent · joined Feb 2026 · 4 months as independent · 1 listed board · 1 as independent · 1 committee seat
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
1 director who left
- Pallavi Mishra, left 30 Jun 2026: Others
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 25 May 202610 of 10 present5 independent
- 15 May 20267 of 10 present4 independent · 91 days in between
- 12 Feb 202610 of 10 present5 independent
Audit Committee
Chair Anil Kumar Gupta
Akhilesh Kumar Jain, Subir Bikas Mitra, Shreemat Pandey
- 25 May 20264 of 4 present3 independent · 9 days in between
- 15 May 20263 of 3 present2 independent · 91 days in between
- 12 Feb 20263 of 3 present2 independent
Nomination and remuneration committee
Payal Gupta, Rajiv Jain
- 25 May 20263 of 3 present2 independent
Stakeholders Relationship Committee
Chair Rajiv Jain
Payal Gupta, Vikas Jain
- 12 Feb 20263 of 3 present1 independent
Risk Management Committee
Chair Vikas Jain
Manish Gupta, Ekta Jain, Subir Bikas Mitra
- 12 Feb 20263 of 4 present0 independent
Corporate Social Responsibility Committee
Ekta Jain, Anil Kumar Gupta
- 25 May 20263 of 3 present2 independent
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditor
Named in the results for the quarter to Mar 2026.
- Badaya & Co.Peer-review certificate valid to Sep 2027
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Insolation Energy AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.
Annual general meeting, 28 Sep 2026
32,703 shareholders on the register on 21 Sep 2026; present: 6 promoters and 52 others; votes counted by Mr. Akshit Kumar Jangid / NA.The company's voting result
To receive, consider and adopt the: a) Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March, 2026 together with the reports of the Board of Directors and Statutory Auditors thereon; and b) Audited Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2026 together with the report of Statutory Auditors thereon.MoreLess
Ordinary99.95% for0.05% againstAgainst: promoters 0.00% · institutions 0.00% · other public 9.27%
Turnout: all 67.93% · promoters 99.99% · institutions 58.73% · other public 1.20%
- To appoint a director in place of Mrs. Ekta Jain (DIN: 09409513), who retires by rotation and being eligible, offers herself for re-appointment.OrdinaryPromoters have an interest in it99.86% for0.14% against
Against: promoters 0.00% · institutions 2.85% · other public 14.05%
Turnout: all 67.93% · promoters 99.99% · institutions 58.73% · other public 1.20%
- To appoint a director in place of Mr. Manish Gupta (DIN: 02917023), who retires by rotation and being eligible, offers himself for re-appointment.OrdinaryPromoters have an interest in it99.86% for0.14% against
Against: promoters 0.00% · institutions 2.85% · other public 14.03%
Turnout: all 67.93% · promoters 99.99% · institutions 58.73% · other public 1.20%
To appoint M/s. ARS & Company, Chartered Accountants, (Firm Registration Number: 009406C) as Statutory Auditors of the Company in place of the retiring Auditors M/s. Badaya & Co., Chartered Accountants (ICAI Firm Registration No. 006395C) and to fix their Remuneration.MoreLess
Ordinary99.92% for0.08% againstAgainst: promoters 0.00% · institutions 0.00% · other public 14.10%
Turnout: all 67.93% · promoters 99.99% · institutions 58.73% · other public 1.20%
- To ratify the remuneration payable to Cost Auditors of the Company for the financial year 2026-27Ordinary99.95% for0.05% against
Against: promoters 0.00% · institutions 0.00% · other public 9.40%
Turnout: all 67.93% · promoters 99.99% · institutions 58.73% · other public 1.20%
- Re-appointment of Mr. Manish Gupta (DIN: 02917023) as Whole Time Director, designated as Chairman of the Company for a further period of 5 (five) yearsOrdinaryPromoters have an interest in it99.28% for0.73% against
Against: promoters 0.00% · institutions 30.08% · other public 14.04%
Turnout: all 67.93% · promoters 99.99% · institutions 58.73% · other public 1.20%
- Re-appointment of Mr. Vikas Jain (DIN: 00812760) as Managing Director of the Company for a further period of 5 (five) yearsOrdinaryPromoters have an interest in it99.28% for0.72% against
Against: promoters 0.00% · institutions 30.08% · other public 14.01%
Turnout: all 67.93% · promoters 99.99% · institutions 58.73% · other public 1.20%
- Authorization for Charge/Hypothecation/Mortgage/Lien on the assets of the Company under Section 180(1)(a) of the Companies Act, 2013 upto Rs. 5000 crores (Rupees Five Thousand Crores Only)Special99.11% for0.89% against
Against: promoters 0.00% · institutions 32.93% · other public 32.61%
Turnout: all 67.93% · promoters 99.99% · institutions 58.73% · other public 1.20%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 3 Jul 2026, 2 resolutions
24,129 shareholders on the register on 29 May 2026; votes counted by Akshit Kumar Jangid / Pinchaa & Co..The company's voting result
- To approve the continuation of Directorship of Mr. Anil Kumar Gupta (DIN: 03573328) as an Non-Executive Independent Director of the CompanySpecial99.95% for0.05% against
Against: promoters 0.00% · institutions 0.00% · other public 16.77%
Turnout: all 66.74% · promoters 99.98% · institutions 21.69% · other public 0.61%
- To approve the amendment to the Insolation Energy Employee Stock Option Plan 2024 (“ESOP 2024”/ “Plan”)Special99.95% for0.05% against
Against: promoters 0.00% · institutions 0.00% · other public 16.91%
Turnout: all 66.74% · promoters 99.98% · institutions 21.69% · other public 0.61%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 17 Apr 2026, 1 resolution
13,994 shareholders on the register on 13 Feb 2026; votes counted by Akshit Kumar Jangid / Pinchaa & Co..The company's voting result
- APPOINTMENT OF MR. SHREEMAT PANDEY (DIN: 00411662) AS A NON-EXECUTIVE INDEPENDENT DIRECTORSpecial99.85% for0.15% against
Against: promoters 0.00% · institutions 0.00% · other public 56.05%
Turnout: all 66.72% · promoters 99.99% · institutions 23.53% · other public 0.54%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.
Mutual fund votes, meeting of 28 Sep 2026, 1 fund house
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
To appoint M/s. ARS & Company, Chartered Accountants, (Firm Registration Number: 009406C) as Statutory Auditors of the Company in place of the retiring Auditors M/s. Badaya & Co., Chartered Accountants (ICAI Firm Registration No. 006395C) and to fix their Remuneration.MoreLess
1 for0 against
7 proposals not matched to one resolution
- Item 1, as a fund house numbered it1 for0 against
- Item 2, as a fund house numbered it1 for0 against
- Item 3, as a fund house numbered it1 for0 against
- Item 5, as a fund house numbered it1 for0 against
- Item 6, as a fund house numbered it
Against Taurus Mutual Fund
- Taurus Mutual FundManish Gupta received remuneration of Rs 31.5 mn in FY26 (including Rs 30.0 mn as salary from Insolation Green Energy Private Limited (IGEPL), a wholly owned subsidiary). We believe this structure of paying remuneration via a subsidiary is not a good practice as it deprives shareholders of the opportunity to vote on that part of the remuneration. Further the remuneration for proposed term has not been disclosed by the company and is at the discretion of the board. The company must cap the remuneration in absolute terms. While we support his reappointment, we are unable to support his remuneration. We do not support the resolution.
0 for1 against - Item 7, as a fund house numbered it
Against Taurus Mutual Fund
- Taurus Mutual FundVikas Jain, 49, is the promoter and Managing Director. He holds over two decades of experience in manufacturing, operations, technology development, business strategy and the renewable energy sector. He has been serving on the board since October 2015. He received remuneration of Rs 31.5 mn in FY26 (including Rs 30.0 mn as salary from Insolation Green Energy Private Limited (IGEPL), a wholly owned subsidiary). We believe this structure of paying remuneration via a subsidiary is not a good practice as it deprives shareholders of the opportunity to vote on that part of the remuneration. Further the remuneration for proposed term has not been disclosed by the company and is at the discretion of the board. The company must cap the remuneration in absolute terms. While we support his reappointment, we are unable to support his remuneration. We do not support the resolution.
0 for1 against - Item 8, as a fund house numbered it
Against Taurus Mutual Fund
- Taurus Mutual FundThe shareholders, by way of a resolution passed through postal ballot on 28 November 2025, gave approval to create charge on the assets of the company to secure the borrowings up to Rs. 50.0 bn. The company now seeks approval to extend the scope of the existing authorization, without revising the existing overall borrowing limit of Rs. 50.0 bn, to create charge on assets of the company on borrowings availed by the company including its subsidiary, wholly-owned subsidiaries, step-down subsidiaries, associate companies, joint ventures, special purpose vehicles, any other body corporate or any other person. We do not support creation of charge on assets of the company for debt raised by promoter-controlled entities and third parties. We do not support the resolution.
0 for1 against
Mutual fund votes, meeting of 3 Jul 2026, 1 fund house
- Item 1, as a fund house numbered it1 for0 against
- Item 2, as a fund house numbered it1 for0 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Tax disputes
Reported in the filing for the quarter to Jun 2026.
- Tax disputePrincipal Commissioner of Customs (Preventive) Jodhpur. HQR: NCR Building , Statue Circle , C Scheme Jaipur -302005Since 29 Jan 2024Case is now in Tribunal court and next hearing date is 07.08.2026At the filing before: Appeal filed in CESTAT New Delhi and our Case transferred to Customs, Excise And Service Tax Appellate Tribunal Principal Bench, New Delhi-110066. Next hearing date will be 02.12.2025.
- Tax disputeOffice of the Principal Commissioner of Customs, Custom House, MundraSince 11 Oct 2023Reply awaited from Mundra Customs on Commissioner (Appeals), Ahmedabad.
At the filing before: Office of The Commisstioner Of Customs (Appeals), Ahmedabad remand the matter back to the adjucating authority with the direction to re-adjucate the case afresh, with a specific direction to follow judicial discipline.MoreLess
In the company's own words, from its latest governance filing.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- Yes
- The chair is related to the managing director
- No
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- Yes
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.
How money raised was used
Reported for the quarter to Mar 2026. The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere |
|---|---|---|---|---|---|
| Preferential IssuesDec 2024, checked by Care Rating Limited | 395.20 | Investment in our wholly owned subsidiary, Insolation Green Energy Private Limited for setting up a new unit at Village: Sawarda, Land Tehsil, Mauzmabad, Jaipur- Rajasthan | 322.77 | 322.77 | No |
| Preferential IssuesDec 2024, checked by Care Rating Limited | 395.20 | General Corporate Purpose | 72.42 | 72.42 | No |