Solex Energy Ltd

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

Solex Energy Ltd

₹ 1,294 -4.13%
23 Apr - close price
solex.in 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 NSE
  • Market Cap ₹ 1,398 Cr.
  • Current Price ₹ 1,294
  • High / Low ₹ 1,985 / 795
  • Stock P/E 26.4
  • Book Value ₹ 172
  • Dividend Yield 0.04 %
  • ROCE 29.9 %
  • ROE 40.6 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Stock is trading at 7.50 times its book value
  • Company might be capitalizing the interest cost
  • 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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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2024 Dec 2024 Jun 2025 Sep 2025 Dec 2025
131.75 134.66 259.61 155.02 317.90
117.42 111.04 218.34 136.42 292.03
Operating Profit 14.33 23.62 41.27 18.60 25.87
OPM % 10.88% 17.54% 15.90% 12.00% 8.14%
0.96 1.09 1.43 -0.38 1.53
Interest 2.53 2.89 5.41 5.89 9.35
Depreciation 1.98 2.51 4.27 4.44 6.09
Profit before tax 10.78 19.31 33.02 7.89 11.96
Tax % 15.77% 27.40% 25.20% 26.62% 25.92%
9.08 14.02 24.71 5.79 8.87
EPS in Rs 8.42 13.01 22.37 4.83 8.06
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Mar 2024 Mar 2025
162 366 662
150 337 589
Operating Profit 11 28 73
OPM % 7% 8% 11%
3 2 4
Interest 6 10 11
Depreciation 5 8 9
Profit before tax 4 12 57
Tax % 30% 24% 25%
3 9 43
EPS in Rs 2.71 8.73 38.91
Dividend Payout % 0% 5% 1%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 47%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 177%
Stock Price CAGR
10 Years: %
5 Years: 102%
3 Years: 59%
1 Year: 52%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 41%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2024 Mar 2025 Sep 2025
Equity Capital 8 11 11
Reserves 38 150 176
96 148 293
70 172 274
Total Liabilities 212 480 753
54 110 135
CWIP 0 2 144
Investments 14 2 2
143 366 473
Total Assets 212 480 753

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Mar 2024 Mar 2025
2 -47
-21 -54
20 113
Net Cash Flow 0 12
Free Cash Flow -6 -114
CFO/OP 13% -47%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Mar 2024 Mar 2025
Debtor Days 47 64
Inventory Days
Days Payable
Cash Conversion Cycle 47 64
Working Capital Days 23 57
ROCE % 30%

Insights

In beta
Mar 2014 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2025 Mar 2027 (P) Mar 2028 (P) Mar 2030 (P)
Solar Module Manufacturing Capacity
GW ・Standalone data

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Working Capital Days
Days ・Standalone data
Solar Cell Manufacturing Capacity
GW ・Standalone data
Domestic & International Business Certifications
Number ・Standalone data
Export Presence (Countries)
Number ・Standalone data
Modules Shipped
Million+ ・Standalone data
Order Book
INR Million ・Standalone data
Projects Executed
Number ・Standalone data
Total Planned Cell Capacity by FY30
GW ・Standalone data
Total Planned Module Capacity by FY30
GW ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Apr 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Dec 2025Mar 2026
70.65% 43.49% 70.65% 70.65% 70.65% 70.65% 70.66% 66.15% 66.15% 66.15% 66.15% 66.15%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.03% 0.01% 0.09% 0.25% 0.13%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.10% 0.89% 0.79% 1.02% 0.98% 0.81%
29.35% 56.51% 29.36% 29.35% 29.35% 29.35% 28.24% 32.94% 33.06% 32.75% 32.63% 32.91%
No. of Shareholders 2462453083035679171,4022,2692,9173,0075,4277,027

* 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.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

DRHP

Credit ratings

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