Solex Energy Limited share price
Solex Energy Limited manufactures and sells solar photovoltaic modules in India. It provides solar turnkey solutions for solar power plants, solar water pumps, and utility scale ground mounted solar power plants, as well as engineering, procurement, and construction services for the solar energy market. The company also offers solar rooftop systems, off-grid power plants, solar grid-connected systems, solar home and street light systems, solar water pumps, and custom solar solutions. It serves government, real estate, agriculture, manufacturing, healthcare, hospitality, residential societies, banking institutions, educational institutes, transport and logistics, media and entertainment, and…Read more
- Market Cap₹ 675 Cr.
- Current Price₹ 625.10
- High / Low₹ 1,985 / 620
- Stock P/E8.4
- Book Value₹ 234
- Dividend Yield0.09 %
- ROCE30.5 %
- ROE46.80 %
- Face Value₹ 10.0
More figures (10)
- EPS (TTM)₹ 74.78
- Price / Book2.67
- OPM9.9 %
- Debt / Equity1.34
- Sales growth (4Y)115.5 %
- Profit growth (4Y)228.4 %
- Promoter holding—
- EV / EBITDA5.3
- Beta-0.36
- All-time high₹ 1,985
Price chart
| Returns | 1M | 3M | 6M | YTD | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| SOLEX | -4.95% | -37.18% | -51.55% | -49.53% | -55.57% | +5.07% | +65.16% |
| Nifty 50 | -0.31% | -3.85% | -4.34% | -11.42% | -9.53% | +5.46% | +4.76% |
Price returns only (dividends not included). Prices from NSE via Yahoo Finance; may be delayed.
Quick take
- Solex Energy Limited is in the Solar industry (Technology), with a market value of ₹675 crore.
- It trades at 8.4 times its last 12 months' earnings and 2.7 times book value.
- Revenue grew 115.5% a year over the last 4 years, profit 228.4% a year.
- Return on equity was 46.8% and return on capital employed 30.5% in the latest year.
- Debt was 1.34 times shareholders' equity.
- The share price is 68.5% below its 52-week high and down 55.6% over one year.
Pros
AI- Strong return on equity: 36.1% on average over the last 3 years.
- Trades at 8.4 times earnings, below its 3-year median of 26.5.
Cons
AI- Borrowings are high at 1.34 times shareholders' equity.
- Promoter holding has fallen by 4.50 points over 3 years, to 66.15%.
Pros and cons are generated automatically from the reported figures. They are observations, not a recommendation to buy or sell.
AI analysis
Plenitude AI reads the figures on this page and explains them in plain language. It does not say whether to buy or sell.
About Solex Energy Limited
Solex Energy Limited manufactures and sells solar photovoltaic modules in India. It provides solar turnkey solutions for solar power plants, solar water pumps, and utility scale ground mounted solar power plants, as well as engineering, procurement, and construction services for the solar energy market. The company also offers solar rooftop systems, off-grid power plants, solar grid-connected systems, solar home and street light systems, solar water pumps, and custom solar solutions. It serves government, real estate, agriculture, manufacturing, healthcare, hospitality, residential societies, banking institutions, educational institutes, transport and logistics, media and entertainment, and telecom and communications industries. Solex Energy Limited was founded in 1995 and is based in Surat, India.
- Employees
- 1,400
- Head office
- Surat
Peer comparison
TechnologySolar
| S.No. | Company | CMP ₹ | P/E | Mar Cap ₹ Cr | Div Yld % | NP Qtr ₹ Cr | Qtr Profit Var % | Sales Qtr ₹ Cr | Qtr Sales Var % | ROCE % | ROE % | P/B | OPM % | Debt / Eq | Prom. Hold. % | Sales ₹ Cr | Sales Var 3Yrs % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Solex Energy | 625.10 | 8.4 | 675 | 0.09 | 8 | — | 261 | — | 30.5 | 46.8 | 2.67 | 9.9 | 1.34 | — | 1,618 | 115.5 |
| 2. | Waaree Energies | 2,565.40 | 19.4 | 73,794 | 0.16 | 850 | 37.37 | 7,932 | 98.10 | 30.1 | 31.0 | 5.11 | 19.1 | 0.26 | 68.15 | 25,955 | 57.8 |
| 3. | Premier Energies | 901.05 | 24.2 | 40,687 | 0.08 | 472 | 53.32 | 2,463 | 35.25 | 27.4 | 42.4 | 9.42 | 25.2 | 0.86 | 67.42 | 7,824 | 76.2 |
| 4. | Emmvee Photovoltaic Power | 277.20 | 13.3 | 19,192 | 0.35 | 380 | 102.63 | 1,556 | 51.34 | 34.5 | 51.1 | 4.37 | 29.8 | 0.10 | 80.03 | 5,034 | 102.7 |
| 5. | Fujiyama Power Systems | 394.90 | 40.1 | 12,120 | 0.00 | 58 | — | 1,346 | — | 28.9 | 36.4 | 9.21 | 17.1 | 0.41 | 87.74 | 2,647 | 58.7 |
| 6. | Borosil Renewables | 428.50 | 15.7 | 6,307 | 0.00 | 87 | — | 406 | 17.06 | 9.5 | 10.3 | 3.97 | 22.9 | 0.11 | 57.84 | 1,549 | 20.2 |
| 7. | Vikram Solar | 144.00 | 14.3 | 5,218 | 0.00 | 20 | -85.17 | 1,563 | 37.89 | 20.5 | 21.3 | 1.65 | 16.6 | 0.20 | 64.85 | 4,802 | 32.3 |
| 8. | Saatvik Green Energy | 396.75 | 29.4 | 5,043 | 0.00 | 5 | -95.49 | 511 | -44.20 | 30.8 | 42.0 | 3.49 | 12.1 | 0.69 | 84.77 | 4,548 | 95.5 |
| 9. | Sterling and Wilson Renewable Energy | 165.47 | — | 3,864 | 0.00 | 54 | -2.09 | 1,590 | -36.88 | -10.5 | -37.4 | 5.95 | 4.8 | 1.83 | 46.73 | 7,546 | 55.3 |
| 10. | Ravindra Energy | 141.22 | 52.3 | 2,804 | 0.00 | 2 | -92.82 | 120 | -26.24 | 10.5 | 19.0 | 5.94 | 18.2 | 1.35 | 69.27 | 543 | 30.6 |
| Median: 14 Co. | 395.83 | 19.4 | 4,454 | 0.00 | 56 | -2.09 | 1,451 | 26.15 | 28.2 | 29.7 | 4.17 | 16.9 | 0.55 | 68.15 | 4,675 | 57.8 |
Companies in the same industry; the median covers every company in it that we hold figures for. Tap a heading to sort. Sorting and comparing are ways to explore data, not recommendations.
Quarterly Results
Consolidated figures in ₹ croreStandalone figures in ₹ crore /
Source: the company's results filed with NSE, as reported. Tap a row marked + for its breakdown. Latest quarter on the right.
Profit & Loss
Consolidated figures in ₹ croreStandalone figures in ₹ crore /
Projection — your assumptions
Starts from the last four reported quarters (TTM) and applies the figures you enter; growth is pre-filled with the company's own past sales growth. This is a what-if calculator for illustration, not a forecast, estimate or recommendation.
Related party transactions
Related-party transactions are dealings with promoters, directors, subsidiaries and associates. Companies disclose them to the exchanges every half-year and in detail in the notes to their annual report.
- Related Party TransactionsSolex Energy Limited has informed the Exchange about Non- applicability of related Party Transactions under regulation 23 (9) of SEBI (LODR) Reg -2018.20-Nov-2021
- Related Party TransactionsSolex Energy Limited has informed the Exchange regarding "Non applicability of Regulation 23(9) of SEBI (LODR) Regulations, 2015".28-May-2019
- Reply to Clarification SoughtThe Exchange had sought clarification from Solex Energy Limited with respect to announcement dated 23-Jun-2018, regarding 'Solex Energy Limited got new orders.On basis of above th…29-Jun-2018
Full details: notes to the Financial Year 2026 annual report (related party disclosures).
| ₹ Cr | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|
| 662 | 1,618 | 1,619 | |
| YOY Sales Growth % | 144.34% | ||
| 598 | 1,434 | 1,448 | |
| Material Cost % | 77% | 81% | 80% |
| Employee Cost % | 3% | 3% | 3% |
| Other Expenses % | 8% | 5% | 6% |
| Operating Profit | 64 | 184 | 172 |
| OPM % | 10% | 11% | 11% |
| 4 | 3 | 6 | |
| Exceptional items | 0 | 0 | |
| Interest | 11 | 31 | 38 |
| Depreciation | 25 | 31 | |
| Profit before tax | 57 | 131 | 109 |
| 25% | 25% | 25% | |
| Current tax | 13 | 32 | |
| Deferred tax | 1 | 1 | |
| 98 | 82 | ||
| Minority share | 2 | 1 | |
| Profit to shareholders | 96 | ||
| EPS in Rs | 43.82 | 88.88 | 96.27 |
| Dividend Payout % | 1% |
Compounded Sales Growth
- TTM:
- 0%
Compounded Profit Growth
- TTM:
- 0%
Stock Price CAGR
- 5 Years:
- 65%
- 3 Years:
- 5%
- 1 Year:
- -56%
Return on Equity
- 4 Years:
- 29%
- Last Year:
- 47%
| ₹ Cr | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|
| 660 | 1,555 | 1,566 | |
| YOY Sales Growth % | 135.63% | ||
| 600 | 1,385 | 1,406 | |
| Material Cost % | 78% | 81% | 81% |
| Employee Cost % | 3% | 3% | 3% |
| Other Expenses % | 8% | 5% | 6% |
| Operating Profit | 60 | 170 | 159 |
| OPM % | 9% | 11% | 10% |
| 4 | 3 | 6 | |
| Exceptional items | 0 | 0 | |
| Interest | 11 | 30 | 37 |
| Depreciation | 25 | 31 | |
| Profit before tax | 52 | 119 | 98 |
| 24% | 25% | 25% | |
| Current tax | 12 | 29 | |
| Deferred tax | 1 | 1 | |
| Net Profit | 89 | 74 | |
| EPS in Rs | 41.29 | 82.29 | 68.11 |
| Dividend Payout % | 1% |
Compounded Sales Growth
- TTM:
- 0%
Compounded Profit Growth
- TTM:
- 0%
Stock Price CAGR
- 5 Years:
- 65%
- 3 Years:
- 5%
- 1 Year:
- -56%
Return on Equity
- 4 Years:
- 29%
- Last Year:
- 47%
Financial years ending March; TTM = the last four quarters. Source: the company's results filed with NSE, as reported. Tap a row marked + for its breakdown. Dividend payout = dividends paid in the year ÷ net profit.
Balance Sheet
Consolidated figures in ₹ crore, as at 31 March
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 8 | 8 | 11 | 11 |
| Reserves | 30 | 38 | 147 | 242 |
| 66 | 96 | 174 | 339 | |
| Long term borrowings | 45 | 47 | 69 | 193 |
| Short term borrowings | 21 | 49 | 79 | 76 |
| 37 | 70 | 166 | 590 | |
| Trade payables | 28 | 54 | 92 | 458 |
| Minority interest | 1 | 3 | ||
| Current liabilities | 54 | 115 | 245 | 671 |
| Total Liabilities | 141 | 212 | 498 | 1,181 |
| 55 | 54 | 136 | 348 | |
| Gross block | 63 | 70 | 164 | 401 |
| Accumulated depreciation | 7 | 16 | 28 | 53 |
| Goodwill & intangibles | 0 | 0 | 0 | 0 |
| CWIP | 1 | 0 | 3 | 11 |
| 85 | 157 | 359 | 822 | |
| Inventories | 30 | 66 | 180 | 290 |
| Trade receivables | 30 | 47 | 114 | 357 |
| Cash & equivalents | 0 | 0 | 12 | 76 |
| Current assets | 83 | 151 | 356 | 826 |
| Total Assets | 141 | 212 | 498 | 1,181 |
Source: Yahoo Finance (compiled from the annual reports). Tap a row marked + for its breakdown.
Cash Flows
Consolidated figures in ₹ crore, financial years ending March
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| -6 | 2 | -40 | 201 | |
| Profit for the year | 3 | 9 | 41 | 96 |
| Working capital changes | -19 | -26 | -113 | 26 |
| Direct taxes paid | -1 | -2 | -6 | -13 |
| -35 | -21 | -58 | -225 | |
| Fixed assets purchased | -35 | -8 | -67 | -194 |
| 41 | 20 | 111 | 89 | |
| Interest paid | -6 | -11 | -11 | -26 |
| Dividends paid | -0 | -0 | -0 | -1 |
| Net Cash Flow | -0 | 0 | 12 | 64 |
| Free Cash Flow | -41 | -6 | -107 | 7 |
Free cash flow = cash from operations − capital expenditure. Source: Yahoo Finance.
Ratios
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| ROE | — | 7.2% | 20.8% | 40.7% | 46.8% |
| ROCE | — | 9.9% | 20.5% | 26.8% | 30.5% |
| Operating margin | — | 5.5% | 5.7% | 10.2% | 9.9% |
| Net margin | — | 1.7% | 2.4% | 6.3% | 5.9% |
| Debt / equity | — | 1.75 | 2.08 | 1.10 | 1.34 |
| Current ratio | — | 1.52 | 1.31 | 1.46 | 1.23 |
| Debtor days | — | 68 | 47 | 63 | 80 |
| Inventory days | — | 80 | 77 | 122 | 78 |
| Days payable | — | 73 | 62 | 62 | 123 |
| Cash conversion cycle | — | 75 | 62 | 123 | 35 |
| Working capital days | — | 64 | 35 | 61 | 35 |
Computed from the reported statements: ROE on average equity; ROCE = EBIT / (total assets − current liabilities). Debtor days = receivables ÷ sales × 365; inventory and payable days use cost of goods sold; cash conversion cycle = debtor + inventory − payable days; working capital days = (current assets − current liabilities) ÷ sales × 365.
Shareholding Pattern
Numbers in percentages · as filed with NSE each quarter
- Promoters 66.15%
- FIIs 0.32%
- DIIs 0.28%
- Public 33.25%
| % | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 70.65% | 70.65% | 70.65% | 70.65% | 70.66% | 66.15% | 66.15% | 66.15% | 66.15% | 66.15% | 66.15% | 66.15% |
| 0.03% | 0.01% | 0.09% | 0.25% | 0.13% | 0.07% | 0.32% | ||||||
| Foreign portfolio investors (Cat. I) | 0.03% | 0.01% | 0.23% | 0.07% | 0.07% | 0.19% | ||||||
| Foreign portfolio investors (Cat. II) | 0.09% | 0.02% | 0.07% | 0.13% | ||||||||
| 1.10% | 0.89% | 0.79% | 1.02% | 0.98% | 0.81% | 0.51% | 0.28% | |||||
| Alternative investment funds | 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% | 33.25% | |
| Retail (up to ₹2 lakh) | 10.45% | 12.45% | 13.36% | 14.06% | 16.93% | 15.86% | 16.62% | 14.00% | 14.42% | 17.32% | 19.99% | |
| HNIs (above ₹2 lakh) | 16.00% | 14.73% | 13.52% | 12.52% | 9.77% | 9.61% | 9.28% | 8.54% | 8.51% | 6.38% | 4.11% | |
| NRIs | 0.40% | 0.49% | 0.61% | 0.27% | 0.30% | 0.28% | 0.34% | 0.43% | 0.49% | 0.44% | ||
| Bodies corporate | 1.63% | 0.84% | 1.18% | 3.96% | 5.55% | 5.18% | 8.44% | 8.20% | 7.76% | 7.65% | ||
| No. of Shareholders | 308 | 303 | 567 | 917 | 1,402 | 2,269 | 2,917 | 3,007 | 5,427 | 7,027 | 10,382 | 13,263 |
Source: shareholding patterns filed by the company with NSE. Public = non-institutional holders. Tap a row marked + for its breakdown.
Documents
Announcements
- Rescission/termination(s)Solex Energy Limited has informed the Exchange about termination of Share Purchase Agreement.16-Oct-2026
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Solex Energy Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026.13-Oct-2026
- Press ReleaseSolex Energy Limited has informed the Exchange regarding a press release dated October 06, 2026, titled "Solex Energy and Subsidiary Solex Green Energy Secure Rupees 194.14 Crore …06-Oct-2026
- Bagging/Receiving of orders/contractsSolex Energy Limited has informed the Exchange about Bagging/Receiving of orders/contracts06-Oct-2026
- Bagging/Receiving of orders/contractsSolex Energy Limited has informed the Exchange about Bagging/Receiving of orders/contracts05-Oct-2026
- Press ReleaseSolex Energy Limited has informed the Exchange regarding a press release dated October 05, 2026, titled "Solex Energy Secures Rs. 75.96 Crore Work Order for 620 Wp N-Type TOPCon S…05-Oct-2026
- Bagging/Receiving of orders/contractsSolex Energy Limited has informed the Exchange about Bagging/Receiving of orders/contracts03-Oct-2026
- Trading WindowSolex Energy Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 201528-Sep-2026
- Shareholders meetingSolex Energy Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 22, 202624-Sep-2026
- Press ReleaseSolex Energy Limited has informed the Exchange regarding a press release dated September 22, 2026, titled "Solex Energy Outlines Next Phase of Growth at 12th AGM, Targets Rupees 4…22-Sep-2026
- Shareholders meetingSolex Energy Limited has informed the Exchange regarding Proceedings of 12th Annual General Meeting held on September 22, 202622-Sep-2026
- Press ReleaseSolex Energy Limited has informed the Exchange regarding a press release dated September 03, 2026, titled "Solex Energy Receives Work Orders Worth Rs. 74.77 Crore for Solar PV Mod…03-Sep-2026
Annual reports
Credit ratings
Concalls & investor meets
- General UpdatesSolex Energy Limited has informed the Exchange about Transcript of 12th Annual General Meeting26-Sep-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesSolex Energy Limited has informed the Exchange about Schedule of Analysts/ Institutional Investors Meet to be held on Spetember 28, 202623-Sep-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesSolex Energy Limited has informed the Exchange about Transcript21-Aug-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesSolex Energy Limited has informed the Exchange about Link of Recording of Post Earnings' Concall held on August 17, 202617-Aug-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesSolex Energy Limited has informed the Exchange about Presentation for the Post Earnings Call to be held on August 17, 202617-Aug-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesSolex Energy Limited has informed the Exchange about Schedule of of Post Earnings Conference Call for financial results for the Quarter ended June 30, 202612-Aug-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesSolex Energy Limited has informed the Exchange about Transcript of Post Earnings Conference Call held with the Investors/Analysts on May 18, 202622-May-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesSolex Energy Limited has informed the Exchange about Link of Recording of Post Earnings' Conference Call held on May 18, 202618-May-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesSolex Energy Limited has informed the Exchange about Investor Presentation for the Post Earnings' Call to be held on May 18, 202616-May-2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesSolex Energy Limited has informed the Exchange about Schedule of Post Earnings Conference Call for discussing financial results for the Quarter and Year ended March 31, 202613-May-2026
Filings made by the company with NSE; documents open on NSE's website.
Key dates
- Ex-dividend date
- 15 Sep 2026
- Latest quarter
- 30 Jun 2026
- Financial year end
- 31 Mar 2026
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Latest news
In the news
- Solex Energy SOLEX: Promoter SHA Lapses UnexecutedKalkine India · 18 h ago
- Solex Energy (SOLEX.NS) Eases to ₹642.6 as Stock Consolidates Below Resistance - Donchian Channelhttps://www.siam.in/ · 3 d ago
- Solex Energy (NSE:SOLEX): What Does Its Reg 74(5) Certificate for Q2 FY27 Confirm?Kalkine India · 3 d ago
- Solex Energy Limited (NSE:SOLEX) Secures ₹75.96 Crore Order for 620 Wp TOPCon Solar ModulesKalkine India · 6 Oct 2026
- Solex Energy NSE:SOLEX Wins Rs 75.96 Crore Solar Module OrderKalkine India · 5 Oct 2026
- Solex Energy NSE:SOLEX Trading Window Closure October 2026Kalkine India · 28 Sep 2026
- Solex Energy Ltd (NSE: SOLEX) Plans Solar Cell and BESS Expansion RoadmapKalkine India · 24 Sep 2026
- Solex Energy (NSE: SOLEX) FY26 Dividend Approval and AGM Updates ExplainedKalkine India · 22 Sep 2026
From the company (NSE)
- Rescission/termination(s)Solex Energy Limited has informed the Exchange about termination of Share Purchase Agreement.NSE filing · 16-Oct-2026
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Solex Energy Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026.NSE filing · 13-Oct-2026
- Press ReleaseSolex Energy Limited has informed the Exchange regarding a press release dated October 06, 2026, titled "Solex Energy and Subsidiary Solex Green Energy Secure Rupees 194.14 Crore …NSE filing · 06-Oct-2026
- Bagging/Receiving of orders/contractsSolex Energy Limited has informed the Exchange about Bagging/Receiving of orders/contractsNSE filing · 06-Oct-2026
- Bagging/Receiving of orders/contractsSolex Energy Limited has informed the Exchange about Bagging/Receiving of orders/contractsNSE filing · 05-Oct-2026
- Press ReleaseSolex Energy Limited has informed the Exchange regarding a press release dated October 05, 2026, titled "Solex Energy Secures Rs. 75.96 Crore Work Order for 620 Wp N-Type TOPCon S…NSE filing · 05-Oct-2026
- Bagging/Receiving of orders/contractsSolex Energy Limited has informed the Exchange about Bagging/Receiving of orders/contractsNSE filing · 03-Oct-2026
- Trading WindowSolex Energy Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015NSE filing · 28-Sep-2026
Headlines from news publishers (via Google News) and the filings of the company with NSE; they open on the source website. Headlines with price targets or buy/sell calls are left out. News is for information only and is not a recommendation.
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