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New Delhi: India's solar energy sector has grown tremendously in the last few years. Now, India has become the third largest solar energy producer in the world, by leaving Japan behind. In this fast-growing solar sector, investors are now looking at those companies that can benefit the most in the coming years. Three of these mid-cap companies are Vikram Solar, Insolation Energy and Sterling & Wilson Renewable Energy. These three companies are focusing on growth in their own way and are preparing for a big change in the solar industry in the next three years.
Vikram Solar is the country's leading solar energy company, which provides High Efficiency Photovoltaic (PV) modules and EPC (Engineering, Procurement and Construction) services. The company had an IPO listing in August 2025 and is now planning to increase the capacity in a big way in the next three years.
The company aims to increase its module manufacturing capacity from 4.5 GW to 17.5 GW. In addition, it is also set to enter cell manufacturing, where the company aims to achieve 12 GW capacity by FY27.
In Q2 FY25-26, the company reported revenue of Rs 1,125.8 crore and a net profit of Rs 128.49 crore.
Vikram Solar's stock is currently trading at Rs 316.25, which is down 0.06 percent. In the last week, this stock has lost 3.35 percent and its market cap is 11,439.3 crore rupees. Last week, the stock made its fresh 52-week low.
Insolation Energy is India's first listed solar module manufacturing company. So far, the company has installed more than 5.5 GW of solar modules in more than 500 projects.
Recently its 100 percent subsidiary 'Insolation Green Energy Pvt. Ltd'. has started 4.5 GW PV module manufacturing unit in Rajasthan. Along with this, the company has signed an MoU worth 10,000 million rupees with the Rajasthan government, under which solar components manufacturing, IPP projects and solar parks will be developed by 2030.
Shares of Insolation Energy are down 0.77 percent at Rs 173.3. The stock has lost 62.4 percent in the last one year and its market cap is Rs 3,818.54 crore. In FY24-25, the company reported revenue of Rs 1,343.02 crore and a net profit of Rs 126.2 crore. The stock is down 64 percent from its one-year high.
Sterling & Wilson Renewable Energy provides turnkey and balance of system (BoS) solutions for utility-scale and floating solar projects. The company is also active in solar as well as storage and hybrid (wind + solar) projects.
The company currently has under-construction projects of 12.8 GW.
In Q2 FY26, the company's revenue increased by 70 percent year-on-year to Rs 1,859.65 million, which is the result of strong execution in domestic and international projects.
Sterling & Wilson's stock is currently at Rs 227.91, which is down 1.32 percent. Its market cap is Rs 5,322.42 crore. This stock has fallen 58.72 percent in the last one year and is close to its 52-week low.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold, silver and crypto assets.)
