Solex Energy Ltd

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

₹ 555 -2.56%
22 Oct - close price
solex.in BSE: 544862 NSE: 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 BSE NSE
  • Market Cap ₹ 599 Cr.
  • Current Price ₹ 555
  • High / Low ₹ 1,985 / 550
  • Stock P/E 7.52
  • Book Value ₹ 234
  • Dividend Yield 0.10 %
  • ROCE 34.9 %
  • ROE 46.5 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter
  • Company has a good return on equity (ROE) track record: 3 Years ROE 41.2%

Cons

  • Debtor days have increased from 63.4 to 80.5 days.
  • 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
131.75 134.66 254.40 259.61 155.02 317.90 885.53 260.82
117.42 111.04 226.37 218.35 136.42 292.03 787.18 231.84
Operating Profit 14.33 23.62 28.03 41.26 18.60 25.87 98.35 28.98
OPM % 10.88% 17.54% 11.02% 15.89% 12.00% 8.14% 11.11% 11.11%
0.96 1.09 0.47 1.44 -0.38 1.53 0.42 4.81
Interest 2.53 2.89 5.00 5.41 5.89 9.35 10.19 12.48
Depreciation 1.98 2.51 3.39 4.27 4.44 6.09 10.36 10.19
Profit before tax 10.78 19.31 20.11 33.02 7.89 11.96 78.22 11.12
Tax % 15.77% 27.40% 24.76% 25.20% 26.62% 25.92% 24.71% 25.81%
9.08 14.02 15.13 24.71 5.79 8.87 58.89 8.25
EPS in Rs 8.42 13.01 13.26 22.37 4.83 8.06 53.61 7.39
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
162 366 662 1,618 1,619
150 337 585 1,435 1,447
Operating Profit 11 28 77 183 172
OPM % 7% 8% 12% 11% 11%
3 2 3 4 6
Interest 6 10 13 31 38
Depreciation 5 8 10 25 31
Profit before tax 4 12 56 131 109
Tax % 30% 24% 25% 25%
3 9 42 98 82
EPS in Rs 2.71 8.73 38.38 88.88 73.89
Dividend Payout % 0% 5% 1% 1%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 115%
TTM: 107%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 228%
TTM: 29%
Stock Price CAGR
10 Years: %
5 Years: 69%
3 Years: 6%
1 Year: -63%
Return on Equity
10 Years: %
5 Years: %
3 Years: 41%
Last Year: 47%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 8 11 11
Reserves 38 147 242
96 174 339
70 167 590
Total Liabilities 212 498 1,181
54 134 338
CWIP 0 3 11
Investments 14 2 0
143 360 833
Total Assets 212 498 1,181

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Mar 2024 Mar 2025 Mar 2026
2 -40 201
-21 -58 -225
20 111 89
Net Cash Flow 0 12 64
Free Cash Flow -6 -107 7
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 13% -44% 117%

Ratios

Consolidated / View Standalone

Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 47 63 80
Inventory Days
Days Payable
Cash Conversion Cycle 47 63 80
Working Capital Days 23 48 7
ROCE % 29% 35%

Insights

In beta
Feb 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Solar Module Manufacturing Capacity
GW

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Cumulative Modules Shipped
Million modules
Order Book & Visibility
INR Mn
Module Capacity Utilization
%
Number of Export Countries
Number
Number of OEM/Brand Clients
Number
Module Sales Volume
MW

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
70.65% 70.65% 70.65% 70.65% 70.66% 66.15% 66.15% 66.15% 66.15% 66.15% 66.15% 66.15%
0.00% 0.00% 0.00% 0.00% 0.00% 0.03% 0.01% 0.09% 0.25% 0.13% 0.07% 0.32%
0.00% 0.00% 0.00% 0.00% 1.10% 0.89% 0.79% 1.02% 0.98% 0.81% 0.51% 0.28%
29.36% 29.35% 29.35% 29.35% 28.24% 32.94% 33.06% 32.75% 32.63% 32.91% 33.26% 33.24%
No. of Shareholders 3083035679171,4022,2692,9173,0075,4277,02710,38213,263

* 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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Documents

Announcements

Annual reports

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Credit ratings

Concalls