Operation of microgrids in islanded mode either by intention or by involuntary action is of increasing concern nowadays. Optimal operation and control of such islanded microgrids considering various objectives are crucial for effective planning problem. This work proposes a new methodology for optimal operation of islanded microgrids considering economic and emission objectives together with loadability in droop-regulated islanded microgrid. Loadability being one of dominant aspects to be considered for effective microgrid planning and operation to ensure increased voltage-stability margin in the entire due course of operation. In conjunction with that islanded microgrid operational constraints and uncertainty in various system parameters need to be considered to interpret real-time operation of the microgrid. In the light of above, a multi-objective optimisation problem in droop-regulated islanded microgrid is formulated with economic–emission–loadability objectives by considering uncertainties in load demand and renewable generation along with system constraints. The formulated problem is solved using multi-objective antlion optimiser algorithm and validated on the test system. The performance of the proposed approach is compared with other optimisation algorithms to show its effectiveness. The importance of considering loadability along with economic–emission objectives to achieve compromised solution resulted in ensuring better operational planning of droop-regulated islanded microgrids.