InSolare Energy.
One bet, two engines.

InSolare positions itself as an end-to-end net-zero solution provider serving data centres, steel & cement and the green hydrogen / ammonia value chain. The operating model rests on four reinforcing pillars: R&D (~5% of overheads, with active programmes in electrolysers, BESS BMS and offshore wind-solar hybrids), strategic manufacturing, project execution (the established EPC cash engine), and green infrastructure development (owned IPP assets).

From a 5 MWp first utility project in 2011 to a 1+ GW EPC portfolio in 2025, InSolare has compounded operational scale through every major shift in Indian solar — utility, rooftop, carport, hybrid, canal-top, floating, and now BESS / GH₂. Marquee execution credentials include the largest canal-top project in Asia and the largest Bangalore rooftop installation. 2.4 M MT of CO₂ saved cumulatively, with 600+ MWp completed and another 600+ MWp under execution.

An unusually strong management bench for a mid-size Indian RE company. The founding troika — Dr. Sunit Tyagi, Dr. Hemanshu Bhatt and CEO Navashil Sharma — all carry IIT Bombay degrees, PhDs / MTechs from RPI, Virginia Tech and Illinois Institute of Technology, and prior leadership experience at Intel. That semiconductor DNA explains InSolare's atypical-for-EPC focus on patents (50+), in-house R&D and module manufacturing. The operations side is led by two retired Indian Army Colonels who bring large-scale project execution discipline.

Dr. Sunit Tyagi

Chairman & Managing Director

Leading the company since 2009. Ph.D. from RPI, USA; B.Tech, IIT Bombay. 17+ global patents. Prior leadership roles at Intel. Expertise spans renewable energy and semiconductor technology.

Dr. Hemanshu Bhatt

Executive Director & CTO

Drives renewable energy R&D, indigenous PEM technology, electrolyser design and green hydrogen. Ph.D. from Virginia Tech; IIT Bombay alumnus. 25+ years' expertise, 30+ patents.

Navashil Sharma

Executive Director & CEO

M.Tech, Illinois Institute of Technology. 22+ years of experience including prior leadership at Intel. Leads business acquisition, financial planning and stakeholder engagement.

Col. Gopal Samanta

Director · HR & GRC

30+ years' leadership from Indian Army & corporate sector. Degrees in Mechanical Engineering and Defence Studies; certificates from IIM Ahmedabad. Drives HCM, HSE, ESG and Compliance.

Col. Pravir Mishra

Chief Operating Officer

28+ years' leadership from Indian Army. M.Tech with certifications from IIM Ahmedabad, IIM Lucknow and IIT Madras. Has overseen execution of nearly 1 GW of solar projects.

Mr. Dipak Patel

Director · Design & IT

23+ years' expertise in solar technology and energy-efficient systems. M.S. from London South Bank University. Leads engineering innovations and PV system design.

Mr. Lalit Sethi

Chief Financial Officer

Heads finance, treasury, capital structure and investor relations through the company's capex-heavy scale-up phase across manufacturing and green platform.

Dr. Bhavesh Agal

Compliance & Chief Risk Officer

Chartered Accountant; Diploma in IFRS (ACCA Global), DISA (ICAI), M.Com. Leads compliance, risk management and statutory governance as the company prepares for listing.

Mr. Pratik Bhatt

VP · Sales & Marketing

B.Sc., Marketing certification from IIM Ahmedabad, Black Belt Six Sigma (ASQ). Heads commercial pipeline across C&I, utility and government segments.

Revenue scaled from ₹239 Cr (FY22) to ₹740 Cr (FY26P) — a 3.1x build with a clear inflection in FY25. FY24 was a transition year (revenue dip on project timing) but margins held; FY25 delivered the strongest year on every line. FY26P guides to higher revenue but compressed margins as the company tools up for manufacturing and the green platform.

EPS figures shown on pre-corporate-action share count. FY26 (P) reflects company guidance — only revenue and PAT confirmed; other lines awaiting full disclosure.

Consolidated picture: management plan aggregates to FY27 revenue ~₹2,244 Cr (EBITDA ~₹238 Cr) scaling to FY30 revenue ~₹12,339 Cr (EBITDA ~₹2,671 Cr). The mix shifts decisively — EPC's share of revenue falls from ~70% (FY27) to ~36% (FY30), with Manufacturing (~48%) and Green Platform (~15%) becoming dominant.

The plan is capital-heavy. Roughly ₹9,895 Cr of investment is mapped across FY27–FY30, with Green Hydrogen IPP alone absorbing ~₹5,986 Cr. All projects are assumed on ~70:30 debt-equity, which keeps equity dilution risk in check but loads the balance sheet.

Corporate action — price adjusted. The last primary funding round (Nov 2024 valuation) was priced at ₹5,440/share on a ₹10 face value. The company has since executed a 7:1 bonus and a stock split (₹10 → ₹2) — together a ~40x increase in share count. On an adjusted basis the last-round price equates to ~₹136/share, versus the current ₹185 unlisted price — a ~1.36x uplift since the last funding round.