Solex Energy Ltd

Solex Energy Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Solex Energy Ltd

₹ 1,267 -1.97%
04 Jul - close price
solex.in NSE - SME: SOLEX
About

Incorporated in 1995, Solex Energy Ltd manufactures solar photo-voltaic cells and modules and is also in the Engineering, Procurement and Construction in the solar energy market[1]

Key Points

Business Overview:[1][2]
SEL specializes in renewable energy solutions and manufactures Solar Photovoltaic (PV) Module and solar home lighting systems in India. Its operations include turnkey projects, spanning Residential Rooftop, Commercial, Industrial, and Utility Ventures. Company is engaged in OEM and ODM partnerships with Indian and International entities for module production under their brand names

Website NSE - ST
  • Market Cap ₹ 1,369 Cr.
  • Current Price ₹ 1,267
  • High / Low ₹ 1,787 / 631
  • Stock P/E 34.6
  • Book Value ₹ 146
  • Dividend Yield 0.04 %
  • ROCE 28.2 %
  • ROE 38.7 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 54.8% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.3%
  • Company's median sales growth is 47.3% of last 10 years

Cons

  • Stock is trading at 8.65 times its book value
  • Promoter holding has decreased over last 3 years: -4.50%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Electrical Equipment Heavy Electrical Equipment

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Half Yearly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Sep 2019 Mar 2020 Sep 2020 Mar 2021 Sep 2021 Mar 2022 Sep 2022 Mar 2023 Sep 2023 Mar 2024 Sep 2024 Mar 2025
85 70 68 22 57 35 37 21 141 93 273 273 387
80 67 64 21 55 34 36 19 132 84 253 249 342
Operating Profit 5 4 4 2 2 1 1 2 9 9 20 24 45
OPM % 6% 5% 6% 7% 3% 3% 2% 9% 7% 9% 7% 9% 12%
0 0 0 0 0 0 0 -0 3 1 1 1 3
Interest 0 0 1 0 1 0 1 1 4 4 6 4 7
Depreciation 0 0 0 0 0 0 0 1 4 4 4 4 5
Profit before tax 5 3 3 1 1 1 0 -1 4 1 10 17 35
Tax % 28% 22% 35% 26% 31% 31% -5% -22% 29% 45% 22% 24% 25%
3 2 2 1 1 1 0 -0 3 1 8 13 27
EPS in Rs 5.34 3.92 3.26 1.44 1.27 0.59 0.40 -0.46 3.17 0.73 8.01 12.11 24.55
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
6 46 34 101 149 138 80 72 161 366 660
6 45 32 96 141 131 76 70 150 337 591
Operating Profit 0 1 2 6 8 7 3 2 11 28 69
OPM % 5% 2% 6% 6% 5% 5% 4% 3% 7% 8% 10%
0 0 0 0 0 0 0 0 3 2 4
Interest 0 1 1 1 1 1 1 1 6 10 11
Depreciation 0 0 0 1 1 0 0 0 5 8 9
Profit before tax 0 1 1 4 7 6 2 1 4 12 52
Tax % 29% 31% 33% 28% 27% 29% 29% 20% 30% 24% 24%
0 0 1 3 5 4 2 1 3 9 40
EPS in Rs 1.00 2.05 3.25 5.10 8.02 7.18 2.71 0.99 2.71 8.73 36.66
Dividend Payout % 0% 0% 0% 16% 0% 6% 9% 12% 0% 5% 2%
Compounded Sales Growth
10 Years: 59%
5 Years: 37%
3 Years: 109%
TTM: 80%
Compounded Profit Growth
10 Years: 82%
5 Years: 55%
3 Years: 242%
TTM: 354%
Stock Price CAGR
10 Years: %
5 Years: 127%
3 Years: 137%
1 Year: 9%
Return on Equity
10 Years: 24%
5 Years: 23%
3 Years: 28%
Last Year: 39%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 0.82 2 2 5 5 5 5 8 8 8 11
Reserves 0 0 1 9 13 17 19 27 30 38 147
4 4 1 6 6 5 12 19 66 96 148
4 9 20 32 47 44 40 18 37 70 162
Total Liabilities 9 15 25 52 71 71 76 73 141 212 467
0 2 2 1 1 1 1 1 55 54 110
CWIP 0 0 0 0 0 0 0 24 1 0 2
Investments 0 0 0 0 0 0 0 0 1 15 3
8 13 23 51 70 70 75 48 85 143 352
Total Assets 9 15 25 52 71 71 76 73 141 212 467

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
1 -4 5 2 2 4 -6 2 -49
-0 -3 -3 -1 -1 -27 -35 -21 -54
-0 6 -2 -2 -0 22 41 20 113
Net Cash Flow 1 -1 0 -0 1 -2 -0 0 10

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 279 75 181 137 136 147 255 105 68 47 62
Inventory Days 123
Days Payable 61
Cash Conversion Cycle 279 75 181 137 136 147 255 105 68 47 124
Working Capital Days 248 29 20 77 64 81 172 165 112 73 100
ROCE % 23% 37% 42% 34% 29% 11% 4% 12% 18% 28%

Shareholding Pattern

Numbers in percentages

4 Recently
Mar 2020Sep 2020Mar 2021Apr 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025
70.43% 70.43% 70.43% 70.65% 43.49% 70.65% 70.65% 70.65% 70.65% 70.66% 66.15% 66.15%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.03% 0.01%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.10% 0.89% 0.79%
29.57% 29.57% 29.57% 29.35% 56.51% 29.36% 29.35% 29.35% 29.35% 28.24% 32.94% 33.06%
No. of Shareholders 2252202142462453083035679171,4022,2692,917

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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