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SOLEX ENERGY LIMITED SOLEX NSETECH

Technology · Solar · India
https://www.solex.in

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 residential and industrial 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.

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₹1,218.50
+5.08% 1Y

Market & Price

Market Cap
₹1,316.28 Cr
Current Price
₹1,218.50
High / Low (52W)
₹1,918.00 / ₹833.50
Beta
-0.20

Valuation

Stock P/E
13.72
Industry PE
25.13
Forward P/E
-
PEG Ratio
-
Book Value
₹172.54
Price to Book
7.06
P/S
1.33
EV/EBITDA
13.89
Dividend Yield
0.05%

Profitability & Returns

ROCE
31.75%
ROE
-
ROA
-
Profit Margin
5.37%
Op Margin
9.94%
EPS (Latest Qtr)
₹53.61
EPS (TTM)
₹88.83

Balance Sheet & Liquidity

Debt/Equity
1.32
Quick Ratio
-
Current Ratio
-
Debt
₹338.65 Cr
Total Assets
₹1,181.35 Cr
Current Assets
₹826.41 Cr
Working Capital
₹155.24 Cr

Ownership

Promoter Holding
-
Chg in Prom Hold
-
FII / Inst Holding
-
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
₹1,534.10 Cr
Total Revenue (TTM)
₹986.93 Cr
EBITDA
₹110.44 Cr
Free Cash Flow
-
Operating Cash Flow
-
Shares Outstanding
₹1.08 Cr
Gross Margin
23.09%
Payout Ratio
0.62%

Growth (CAGR)

Revenue 5Y
115.48%
Profit 5Y
228.40%
Revenue (YoY)
248.10%
Earnings (YoY)
304.60%

PROS

  • Healthy ROCE of 31.7%.
  • Compounding revenue at 115.5% over 5 years.
  • Profit CAGR of 228.4% over 5 years.

CONS

  • Trading 36.5% below its 52-week high.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 SOLEX SOLEX ENERGY LIMITED NSETECH 1,218.50 13.72 ₹1,316.28 Cr 0.05% 31.75% - 115.48% 228.40%
2 TCS Tata Consultancy Services Limited NIFTY50NSEAITECH 2,258.90 16.61 ₹8.17 L Cr 5.49% 54.93% 48.40% 5.80% 5.30%
3 INFY Infosys Limited NIFTY50NSEAITECH 1,160.90 15.01 ₹4.70 L Cr 4.31% 41.66% 31.44% 3.44% 3.58%
4 HCLTECH HCL Technologies Limited NIFTY50NSEAITECH 1,183.80 19.31 ₹3.20 L Cr 8.11% 27.21% 23.36% 8.65% 3.87%
5 WIPRO Wipro Limited NIFTY50NSEAITECH 204.25 16.26 ₹2.14 L Cr 8.32% 18.42% 15.49% 4.05% 2.44%
6 TECHM Tech Mahindra Limited NIFTY50NSEAITECH 1,483.90 27.40 ₹1.31 L Cr 3.44% 20.60% 16.61% 2.16% -0.14%
7 LTM LTM Limited NSETECH 4,061.60 24.04 ₹1.20 L Cr 1.85% 25.39% 21.29% 8.43% 4.41%
8 LGEINDIA LG ELECTRONICS INDIA LTD NIFTY_MIDNSETECH 1,523.90 61.35 ₹1.03 L Cr - 27.64% 24.72% 0.98% -
9 WAAREEENER WAAREE ENERGIES LIMITED NIFTY_MIDNSETECH 3,140.80 27.70 ₹90,345.53 Cr 0.13% 24.21% 31.57% 71.63% 191.18%
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Quarterly Results

Figures in INR.

Metric Sep 2024Dec 2024Mar 2025Sep 2025Dec 2025Mar 2026
Revenue 131.75 Cr134.66 Cr254.40 Cr155.02 Cr317.90 Cr885.53 Cr
Cost of Revenue 104.44 Cr93.39 Cr195.08 Cr104.31 Cr261.91 Cr743.70 Cr
Gross Profit 27.32 Cr41.27 Cr59.33 Cr50.71 Cr55.99 Cr141.83 Cr
Operating Expenses 14.97 Cr20.15 Cr34.69 Cr36.56 Cr36.42 Cr53.84 Cr
Operating Income 12.35 Cr21.12 Cr24.64 Cr14.15 Cr19.57 Cr87.99 Cr
EBITDA 15.29 Cr24.71 Cr28.50 Cr18.21 Cr27.43 Cr98.77 Cr
Interest Expense 2.53 Cr2.89 Cr5.00 Cr5.89 Cr9.35 Cr10.19 Cr
Pretax Income 10.78 Cr19.31 Cr20.11 Cr7.89 Cr11.99 Cr78.22 Cr
Tax Provision 1.70 Cr5.29 Cr4.98 Cr2.10 Cr3.12 Cr19.33 Cr
Net Income 9.10 Cr14.05 Cr14.32 Cr5.22 Cr8.71 Cr57.91 Cr
Diluted EPS 8.8113.0113.254.838.0753.61

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue -161.71 Cr365.92 Cr662.22 Cr1,618.06 Cr
Cost of Revenue -139.31 Cr314.49 Cr510.95 Cr1,303.09 Cr
Gross Profit -22.40 Cr51.43 Cr151.27 Cr314.97 Cr
Operating Expenses -13.47 Cr30.54 Cr84.70 Cr156.47 Cr
Operating Income -8.93 Cr20.89 Cr66.57 Cr158.50 Cr
EBITDA -13.04 Cr28.38 Cr79.58 Cr187.11 Cr
Interest Expense -4.65 Cr8.37 Cr12.92 Cr30.84 Cr
Pretax Income -3.85 Cr11.54 Cr56.22 Cr131.12 Cr
Tax Provision -1.14 Cr2.81 Cr13.99 Cr32.87 Cr
Net Income -2.71 Cr8.73 Cr41.46 Cr96.01 Cr
Diluted EPS 1.022.7110.9239.98-

Compounded Sales Growth

5 Years:115.48%
1 Year:248.10%

Compounded Profit Growth

5 Years:228.40%
1 Year:304.60%

Stock Price Performance

1 Year:+5.08%
6 Months:-34.29%
3 Months:+27.29%
1 Month:-5.43%

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets -140.78 Cr211.96 Cr480.25 Cr1,181.35 Cr
Current Assets -82.72 Cr150.61 Cr362.16 Cr826.41 Cr
Cash & Equivalents -13.34 L19.07 L12.05 Cr76.39 Cr
Inventory -30.38 Cr66.39 Cr179.52 Cr290.47 Cr
Receivables -30.25 Cr46.69 Cr116.12 Cr356.69 Cr
Total Liabilities -103.15 Cr165.72 Cr318.74 Cr925.27 Cr
Current Liabilities -54.44 Cr115.04 Cr246.39 Cr671.17 Cr
Long Term Debt -44.73 Cr47.20 Cr68.69 Cr193.15 Cr
Total Debt -65.94 Cr96.16 Cr147.50 Cr338.65 Cr
Total Equity -37.63 Cr46.24 Cr160.63 Cr252.95 Cr
Shares Outstanding 1.00 Cr1.00 Cr1.00 Cr1.08 Cr-

Cash Flows (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow --6.19 Cr1.71 Cr-40.46 Cr200.69 Cr
Investing Cash Flow --34.85 Cr-21.24 Cr-58.23 Cr-225.16 Cr
Financing Cash Flow -40.79 Cr19.59 Cr110.55 Cr88.81 Cr
Capital Expenditure --35.16 Cr-7.79 Cr-66.64 Cr-193.52 Cr
Free Cash Flow --41.34 Cr-6.08 Cr-107.10 Cr7.17 Cr
Net Change in Cash --25.20 L5.73 L11.86 Cr64.34 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % -13.9%14.1%22.8%19.5%
Operating Margin % -5.5%5.7%10.1%9.8%
Net Margin % -1.7%2.4%6.3%5.9%
ROE % -7.2%18.9%25.8%38.0%
ROCE % -10.3%21.6%28.5%31.1%

Analyst View

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