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Latest filing: 2026-09-03 18:34
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33 announcements match the current filters (relevance ≥ 5).
Solex Energy Bags ₹74.77 Cr PV Module Orders; Order Pipeline Reaches ₹846 Cr
Solex Energy Limited has received new domestic work orders worth ₹74.77 crore for the manufacture and supply of solar PV modules, scheduled for execution by December 2026. Additionally, the company has secured a Letter of Intent (LOI) worth approximately ₹174.30 crore, currently at the definitive agreement signing stage. With these additions, Solex Energy's total executable order pipeline stands at approximately ₹846 crore (representing ~52.2% of TTM revenue of ₹1,620 crore), all targeted for execution by December 31, 2026.
Confidence: HIGH
What changedSolex Energy secured ₹74.77 crore in firm orders and advanced a ₹174.30 crore LOI, boosting its active order pipeline to ₹846 crore.
Why it mattersThe ₹846 crore pipeline provides strong revenue visibility (~52.2% of TTM revenue) to be delivered over the next four months, supporting capacity utilization at its 4 GW facility.
New Firm Order Value: ₹74.77 croreLOI Value: ₹174.30 croreTotal Executable Pipeline: ₹846 crorePipeline vs TTM Revenue: ~52.2%Execution Deadline: December 31, 2026
📅 Short termProvides strong operational momentum and clear delivery milestones heading into Q3 FY27.
📈 Long termReflects ongoing market traction for Solex's branded modules and supports scale-up across its 4 GW manufacturing footprint.
⚠ Risk flags
- Tight execution timeline concentrated within roughly 4 months (by December 2026)
- LOI of ₹174.30 crore is pending execution of the final Module Supply Agreement
- Supply chain dependencies on external solar cells
Key Highlights
Received firm domestic work orders worth ₹74.77 crore for solar PV modules.
Secured an additional LOI worth approximately ₹174.30 crore at the Module Supply Agreement signing stage.
Total executable order pipeline reaches approximately ₹846 crore.
All current pipeline orders are scheduled for execution by December 31, 2026.
👀 What to Watch
Track the formal signing of the ₹174.30 crore LOI into a definitive agreement and observe quarterly execution pace in Q2 and Q3 FY27.
Solex Energy Wins ₹74.77 Cr Domestic Work Orders for Solar PV Modules
Solex Energy Limited has secured work orders from domestic entities for the manufacture and supply of Solar PV Modules totaling ₹74.77 crore (inclusive of taxes). The order value represents approximately 4.6% of the company's TTM revenue of ₹1,620 crore. The entire contract is scheduled for execution across December 2026. The awarding entities are unrelated domestic third parties.
Confidence: HIGH
What changedSolex Energy received new domestic work orders for Solar PV Module supply worth ₹74.77 crore.
Why it mattersProvides incremental near-term revenue visibility for Q3 FY27, contributing to utilization of its module manufacturing capacity.
Total order value: ₹74.77 CroreOrder vs TTM revenue: ~4.6%Execution timeline: Scheduled across December, 2026Nature of contract: Manufacture and supply of Solar PV Modules
📅 Short termProvides positive sentiment regarding continued order inflow and capacity utilization heading into H2 FY27.
📈 Long termLimited structural impact on its own as it represents under 5% of annual sales, but aligns with the ongoing expansion of domestic solar module volumes.
⚠ Risk flags
- Execution timeline concentration in December 2026
- External solar cell price and supply chain volatility
Key Highlights
Bagged domestic supply contracts worth ₹74.77 crore inclusive of taxes
Scope covers manufacture and supply of Solar PV Modules
Scheduled execution period is across December 2026
Order value equals ~4.6% of FY26/TTM revenue of ₹1,620 crore
👀 What to Watch
Track execution progress and revenue recognition in the Q3 FY27 financial results along with raw material margin trends.
Solex Energy Outlines ₹3,400 Cr Order Visibility & ₹1,050 Cr Cell Capex in Q1 FY27 Call
Solex Energy filed the transcript of its Q1 FY27 earnings conference call, detailing total order book visibility of ~₹3,400 crore (210% of TTM revenue) and an executable pipeline of ₹845.84 crore targeted by December 31, 2026. The company reiterated its FY27 PAT margin guidance of 5% to 6% on an assumed ~55% capacity utilization of its 4 GW module plant. Management highlighted that H1 is seasonally softer due to ALMM List-2 transitions and weather factors, with strong dispatch recovery expected in H2. Meanwhile, its 2.2 GW TOPCon cell facility (Phase 1 of 5 GW) is on track for CY2027 commissioning, backed by planned debt of ~₹700 crore and ₹350 crore via NCDs/CCDs.
Confidence: HIGH
What changedFiling of post-earnings conference call transcript providing granular operational metrics, capacity utilization assumptions, and order pipeline status.
Why it mattersProvides insight into H2-heavy revenue conversion, order execution visibility against TTM revenue of ₹1,620 crore, and funding plans for vertical integration into solar cells.
Order book visibility: ₹3,400 croreOrder visibility vs TTM revenue: ~210%Executable pipeline by Dec 2026: ₹845.84 croreFY27 module capacity utilization assumption: 55%Planned cell expansion capex funding: ₹1,050 crore (₹700 cr debt + ₹350 cr equity)
📅 Short termPerformance will reflect the traditional softer H1 seasonality with project delivery shifts under ALMM adjustments before accelerating in H2.
📈 Long termBackward integration into 2.2 GW cell manufacturing by CY2027 could strengthen supply security and protect margins across utility IPP orders.
⚠ Risk flags
- High debt addition (₹700 crore debt planned vs net worth of ₹244 crore)
- Execution dependency on H2 seasonality and customer-driven delivery rescheduling
- Dependency on timely financial closure for cell manufacturing capex
Key Highlights
Executable order pipeline stands at ₹845.84 crore scheduled for delivery by December 31, 2026, including a ₹42.47 crore August 2026 order and ₹175 crore LOI.
Overall order book visibility stands at approximately ₹3,400 crore across confirmed POs and MSAs in discussion.
4 GW module facility in Tadkeshwar assumed to operate at ~55% average utilization for FY27.
Cell capex of 2.2 GW involves ~₹700 crore debt and ₹350 crore structured equity (NCDs/CCDs) targeting commissioning by end of CY2027.
👀 What to Watch
Track execution cadence of the ₹845.84 crore pipeline across Q2-Q3 FY27 and monitor financial closure for the ₹1,050 crore cell capex.
Solex Energy Q1 FY27 PAT Drops 66.6% YoY to ₹8.26 Cr; Order Pipeline at ₹845.84 Cr
Solex Energy reported a 1.8% YoY growth in total revenue to ₹265.63 crore (₹2,656.3 million) for Q1 FY27, while PAT declined 66.6% YoY to ₹8.26 crore (₹82.6 million). The profit contraction was driven by higher depreciation (₹10.19 crore vs ₹4.27 crore) and finance costs (₹12.48 crore vs ₹5.41 crore) following the commissioning of Lines 3 and 4 in late 2025. Operationally, the company has an executable order pipeline of ₹845.84 crore targeted for delivery by December 31, 2026, and total order book visibility of approximately ₹3,400 crore. Management noted that dispatches were deferred into H2 FY27 due to ALMM timeline clarifications in May 2026 and seasonal monsoon softness.
Confidence: HIGH
What changedSolex reported its Q1 FY27 results showing compressed margins and announced recent order wins creating an ₹845.84 crore near-term executable pipeline.
Why it mattersFixed costs from newly commissioned capacities have temporarily depressed quarterly bottom-line profitability, making timely order execution in H2 FY27 critical to absorb overheads.
Q1 FY27 Total Revenue: ₹2,656.3 millionQ1 FY27 PAT: ₹82.6 millionExecutable pipeline by Dec 2026: ₹845.84 crorePipeline vs TTM revenue: ~52.2%Order book visibility: ₹3,400 crore
📅 Short termMargin compression and sharp PAT decline may weigh on sentiment in the near term, pending volume ramp-up and execution recovery in H2 FY27.
📈 Long termVertical integration into 5 GW cell manufacturing and 4 GW module capacity position the company well if order conversion and execution remain on schedule.
⚠ Risk flags
- High fixed costs (depreciation and debt servicing) impacting margins if volume ramp is delayed
- Customer dispatch delays caused by regulatory timeline shifts (ALMM) and monsoon seasonality
Key Highlights
Q1 FY27 total revenue grew 1.8% YoY to ₹2,656.3 million, but EBITDA fell 20.9% YoY to ₹337.9 million with margins contracting 364 bps to 12.7%.
Net profit dropped 66.6% YoY to ₹82.6 million (EPS of ₹7.39 vs ₹22.36 in Q1 FY26), impacted by higher interest (₹124.8 million) and depreciation (₹101.9 million).
Near-term executable order pipeline stands at ₹845.84 crore for execution by December 31, 2026, including a recent ₹42.47 crore win in August 2026.
Overall order book visibility stands at approximately ₹3,400 crore across confirmed POs, signed MSAs, and advanced discussions.
Dual-listing completed on the BSE (Scrip Code: 544862) in August 2026, and Phase 1 (2.2 GW) solar cell manufacturing line targeted for commissioning by end of CY2027.
👀 What to Watch
Track capacity utilization across all 4 module lines (4 GW capacity) and monitor execution milestones for the ₹845.84 crore order pipeline targeted by December 31, 2026.
Solex Energy Outlines ₹3,400 Cr Order Book & ₹846 Cr Execution by Dec 2026
Solex Energy released its Q1 FY27 investor presentation, highlighting a robust order book and visibility of ₹3,400 crore (equivalent to ~2.1x TTM revenue of ₹1,620 crore). The company delivered Q1 FY27 revenue of ₹265.6 crore (up 1.76% YoY) with an EBITDA of ₹33.8 crore and PAT of ₹8.3 crore during a seasonally soft quarter. Management targeted ₹845.84 crore in confirmed/MSA-stage orders for execution before December 31, 2026, driven by a ₹628.37 crore N-Type TOPCon module order. The long-term roadmap features a ₹4,000 crore capex plan for an integrated solar cell (2.2 GW by 2027) and BESS ecosystem in Gujarat.
Confidence: HIGH
What changedSolex published its detailed Q1 FY27 presentation confirming ₹3,400 crore order visibility and a near-term delivery target of ₹845.84 crore by end of CY2026.
Why it mattersDemonstrates strong revenue visibility for H2 FY27 to counter Q1 seasonality, backed by active 4 GW module capacity and backward integration into solar cells.
Order Book Visibility: ₹3,400 croreOrder Book vs TTM Revenue: ~210%Orders for Execution by Dec 2026: ₹845.84 croreQ1 FY27 Revenue: ₹265.6 croreProposed Cell/BESS Capex: ₹4,000 crore
📅 Short termFocus will remain on the ramp-up of line utilization across all 4 module lines and execution of the ₹845.84 crore order commitments by Q3.
📈 Long termBackward integration into 2.2 GW/5 GW cell manufacturing will protect margins against supply-chain shocks and capture value under ALMM/ALCM regulations.
⚠ Risk flags
- High funding requirement for the ₹4,000 crore capex against a current net worth of ₹244 crore.
- Interim dependence on external solar cell suppliers until the 2027 cell line is commissioned.
- Industry-wide regulatory and dispatch timing shifts affecting quarterly billings.
Key Highlights
Total order book and visibility stood at ₹3,400 crore as of June 30, 2026 (~210% of TTM revenue).
Targeted execution of ₹845.84 crore worth of module orders prior to December 31, 2026.
Q1 FY27 revenue came in at ₹265.6 crore (+1.76% YoY) with PAT at ₹8.3 crore.
Outlined ₹4,000 crore capex roadmap to commission 2.2 GW TOPCon cell line by 2027 and scale modules to 10 GW by FY30.
👀 What to Watch
Track execution run-rate of the ₹845.84 crore orders due by December 2026 and progress on line utilization and cell facility construction in Gujarat.
Solex Energy Q1 FY27: Material Subsidiary Revenue Declines 46% QoQ to ₹24.6 Cr
Solex Energy has approved its Q1 FY27 financial results, highlighting a significant sequential slowdown in its material subsidiary, Solex Green Energy Private Limited. The subsidiary's revenue fell from ₹46.05 Cr (460.48 Million) in the March 2026 quarter to ₹24.61 Cr (246.14 Million) in June 2026. Profitability for this unit also saw a sharp decline, with PAT dropping from ₹4.09 Cr to ₹0.47 Cr. The company has scheduled its 12th AGM for September 22, 2026, where a final dividend may be considered.
Confidence: HIGH
What changedThe company released its Q1 FY27 results, revealing a sharp sequential contraction in its primary green energy subsidiary's performance.
Why it mattersThe subsidiary's performance is a key indicator of execution; the sharp drop in revenue and PAT suggests potential seasonal dispatch delays or production downtime during technology migration.
Subsidiary Revenue (Jun'26): 246.14 MillionSubsidiary PAT (Jun'26): 4.66 MillionSubsidiary Revenue (Mar'26): 460.48 MillionSubsidiary PAT (Mar'26): 40.88 MillionAGM Date: September 22, 2026
📅 Short termThe stock may face pressure due to the significant sequential decline in subsidiary profitability and revenue.
📈 Long termStructural growth depends on the successful ramp-up of the 4 GW automated facility and the transition to high-efficiency TOPCon technology.
⚠ Risk flags
- Sharp sequential earnings decline in material subsidiary
- High Debt-to-Equity ratio of 1.33
- Revenue sensitivity to monsoon-related dispatch delays
Key Highlights
Material subsidiary Solex Green Energy reported a 46.5% QoQ revenue decline to ₹24.61 Cr
Subsidiary PAT plummeted 88.6% QoQ from ₹4.09 Cr in Mar'26 to ₹0.47 Cr in Jun'26
Two other subsidiaries, Solex New Energy and Solex BESS, reported Nil revenue for the quarter
12th Annual General Meeting (AGM) scheduled for September 22, 2026, via video conference
Record date for final dividend eligibility to be announced separately following the board's approval
👀 What to Watch
Monitor the full consolidated financial statement to see if parent-level TOPCon module sales are offsetting subsidiary weakness. Watch for management commentary during the Sept 22 AGM regarding the 4 GW capacity expansion timeline.
₹42.47 Cr Order Win for N-Type TOPCON Solar PV Modules
Solex Energy has secured a domestic work order worth ₹42.47 crore for the supply of high-efficiency N-Type TOPCON 620Wp Glass-to-Glass solar modules. The contract is awarded by a domestic private power sector company and is scheduled for execution in October 2026. While the order value is relatively small at approximately 2.6% of the company's TTM revenue (₹1619 Cr), it validates the company's strategic shift toward high-efficiency TOPCon technology. This order supports the company's ongoing transition from low-margin OEM work to high-margin branded sales.
Confidence: HIGH
What changedSolex Energy has added a ₹42.47 crore contract to its order book specifically for its newer N-Type TOPCon module technology.
Why it mattersThe order confirms market acceptance of Solex's high-efficiency TOPCon modules, which are central to its strategy of improving operating margins (currently 11.3%) and moving away from basic OEM manufacturing.
Order value: ₹42.47 CrTTM Revenue: ₹1619 CrOrder vs TTM Revenue: ~2.62%Execution Timeline: October 2026Module Rating: 620Wp
📅 Short termThe announcement is likely to be viewed neutrally to slightly positively by the market as it demonstrates steady order flow, though the magnitude is small relative to annual turnover.
📈 Long termStructurally positive as it reinforces the company's technological pivot; however, the company's high Debt-to-Equity ratio (1.33) remains a factor to watch as it expands capacity.
⚠ Risk flags
- Concentrated execution timeline (October 2026)
- Dependency on external solar cell supply until vertical integration is complete
- Relatively small order size compared to total revenue base
Key Highlights
Order value of ₹42.47 Crore including taxes from a domestic private power sector entity
Supply involves high-efficiency N-Type TOPCON 620Wp Glass-to-Glass (G12R) Solar PV Modules
Execution is scheduled for a concentrated period in October 2026
Order represents approximately 2.62% of the company's TTM revenue of ₹1619 Cr
Aligns with the company's strategy to scale to 4 GW capacity and internalize cell manufacturing
👀 What to Watch
Investors should monitor the timely execution of this order in the October 2026 window and track the company's progress in commissioning its 4 GW automated facility in Surat.
₹42.47 Cr Order Win for N-Type TOPCON Solar PV Modules
Solex Energy has secured a domestic work order worth ₹42.47 crore (including taxes) for the supply of high-efficiency N-Type TOPCON 620Wp solar PV modules. The order is from a domestic private limited company in the power sector and is scheduled for execution in October 2026. While the order value represents a modest ~2.6% of the company's TTM revenue of ₹1619 crore, it validates the company's strategic shift toward high-margin TOPCON technology. This win follows the company's recent capacity expansion to 4 GW and its transition from OEM to own-brand sales.
Confidence: HIGH
What changedSolex Energy has added a new domestic contract to its order book, specifically for its newer N-Type TOPCON module technology.
Why it mattersThe order demonstrates market traction for Solex's high-efficiency modules, which are central to its strategy of improving margins and utilizing its new 4 GW automated production capacity.
Order value: ₹42.47 CrOrder vs TTM revenue: ~2.62%Execution timeline: October 2026Module capacity rating: 620Wp
📅 Short termThe announcement is likely to be viewed positively as it shows continuous order flow, though the impact on the stock may be limited by the relatively small size of the contract compared to annual revenue.
📈 Long termStructurally positive as it reinforces the company's transition to high-efficiency TOPCON technology, which is expected to drive higher margins compared to older Mono-PERC modules.
⚠ Risk flags
- Tight execution timeline (October 2026)
- Dependency on external solar cell suppliers
- Client concentration (single domestic private entity)
Key Highlights
Order value of ₹42.47 crore including taxes for solar PV module supply.
Contract involves high-efficiency N-Type TOPCON 620Wp- Glass-to-Glass (G12R) modules.
Execution is scheduled for a short window in October 2026.
Order size represents approximately 2.62% of the TTM revenue of ₹1619 crore.
👀 What to Watch
Investors should monitor the company's Q3 FY27 results to confirm successful execution and revenue recognition of this order, and track further order wins in the high-margin TOPCON segment.
₹628.37 Cr Work Order Secured for N-Type TOPCon Solar Modules
Solex Energy has secured a major work order worth ₹628.37 crore from a global renewable energy group for the supply of high-efficiency N-Type TOPCon solar modules. This order is highly material, representing approximately 38.8% of the company's TTM revenue of ₹1,619 crore and over 56% of its current market capitalization. The contract involves supplying G12R Glass-to-Glass modules (615 Wp and 620 Wp), leveraging the company's recently expanded 4 GW automated facility in Surat. This win validates Solex's technological transition from Mono-PERC to TOPCon technology.
Confidence: HIGH
What changedSolex Energy has transitioned from smaller-scale orders to a significant ₹628.37 crore contract with a global energy player, marking a major milestone for its TOPCon module line.
Why it mattersThe order provides strong revenue visibility for FY27 and confirms the market acceptance of Solex's high-efficiency N-Type modules, which is critical for its 'Vision 2030' growth strategy.
Order Value: ₹628.37 crOrder vs TTM Revenue: ~38.8%Order vs Market Cap: ~56.3%Manufacturing Capacity: 4 GWModule Ratings: 615 Wp and 620 Wp
📅 Short termThe stock is likely to react positively to the news of a contract worth more than half its market capitalization, improving short-term sentiment.
📈 Long termThis order establishes Solex as a credible supplier for large-scale global utility projects, supporting its goal of vertical integration and high-margin brand sales.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk for a large-scale delivery
- Dependency on external solar cell supply for module assembly
- Potential margin pressure if raw material (cell) prices fluctuate
Key Highlights
Total work order value of ₹628.37 crore, inclusive of all applicable duties and taxes.
Order represents ~38.8% of the company's TTM revenue of ₹1,619 crore.
Supply includes high-efficiency N-Type TOPCon G12R Glass-to-Glass Solar PV Modules rated at 615 Wp and 620 Wp.
Utilizes the company's 4 GW Industry 4.0 enabled fully automated manufacturing facility in Surat.
Client is an eminent global renewable energy group with a presence across multiple countries.
👀 What to Watch
Investors should monitor the execution timeline for this order and its impact on operating margins in upcoming quarters, as TOPCon modules are generally higher-margin products compared to older technologies.
₹628.37 Cr Order Win for TOPCon Solar Modules from Global IPP
Solex Energy has secured a significant domestic work order worth ₹628.37 crore for the supply of high-efficiency N-Type TOPCon solar modules. This single order represents approximately 38.8% of the company's TTM revenue of ₹1,619 crore, providing strong revenue visibility for the second half of FY27. The contract involves supplying 615 Wp/620 Wp Glass-to-Glass modules to a renowned Independent Power Producer (IPP). Execution is scheduled to take place over a six-month period between October 2026 and March 2027.
Confidence: HIGH
What changedSolex Energy has transitioned from smaller-scale orders to a massive utility-scale contract worth nearly 40% of its annual revenue.
Why it mattersThis win validates the company's strategic shift toward TOPCon technology and its ability to compete for large-scale IPP contracts, supporting its ongoing capacity expansion to 4 GW.
Order Value: ₹628.37 croreOrder vs TTM Revenue: ~38.8%Order vs Market Cap: ~56.3%Execution Start: October 2026Execution End: March 2027
📅 Short termThe stock is likely to react positively in the short term as the order value is substantial relative to the company's market capitalization and annual turnover.
📈 Long termThis order strengthens Solex's position in the high-efficiency module market and demonstrates successful internalization of TOPCon technology, which is critical for long-term margin sustainability.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk within a tight 6-month window
- Dependency on external solar cell pricing and availability
- Client concentration risk from a single large contract
Key Highlights
Total order value of ₹628.37 crore inclusive of all applicable duties and taxes
Order size accounts for approximately 38.8% of the company's TTM revenue
Supply of advanced N-Type TOPCon 615 Wp/620 Wp Glass-to-Glass (G12R) modules
Execution timeline set for a 6-month window from October 2026 to March 2027
Contract awarded by a domestic entity belonging to an eminent global renewable energy group
👀 What to Watch
Investors should monitor the company's execution progress starting October 2026 and observe if this large-scale order impacts operating margins, given the company's recent transition to high-efficiency TOPCon technology.
Solex Energy Incorporates 100% Subsidiary for Battery Energy Storage Systems (BESS)
Solex Energy has incorporated a new wholly-owned subsidiary, Solex BESS Private Limited, on June 22, 2026, to enter the energy storage market. The subsidiary has an initial authorized capital of Rs 10,00,000 and will focus on manufacturing, assembling, and maintaining Battery Energy Storage Systems (BESS). This move is strategically aligned with the parent company's existing solar PV module business (TTM revenue of Rs 1,619 Cr) to provide integrated clean energy solutions. While the initial capital is small, it marks a formal entry into a high-growth ancillary vertical.
Confidence: HIGH
What changedSolex Energy has formally established a new legal entity to house its expansion into the battery energy storage sector.
Why it mattersBESS is a critical component for solar energy integration; this allows Solex to transition from a module manufacturer to an integrated energy solutions provider, potentially increasing customer stickiness and margins.
Authorized Capital: Rs 10,00,000Shareholding: 100%Parent TTM Revenue: Rs 1619 CrParent Market Cap: Rs 1220 Cr
📅 Short termThe market may view this as a positive strategic intent, though no immediate impact on financials is expected as the entity is yet to commence operations.
📈 Long termIf successfully scaled, BESS could become a significant revenue driver alongside the company's planned 4 GW solar module capacity expansion.
⚠ Risk flags
- Execution risk in a new technology segment
- Potential for high initial capital requirements
- Competition from established battery manufacturers
Key Highlights
Incorporation of 100% wholly-owned subsidiary 'Solex BESS Private Limited' on June 22, 2026.
Initial authorized capital set at Rs 10,00,000 divided into 1,00,000 shares of Rs 10 each.
Business scope covers manufacturing, designing, installing, and maintaining Battery Energy Storage Systems (BESS).
Parent company maintains a strong ROCE of 34.0% and TTM revenue of Rs 1,619 Cr to support new ventures.
👀 What to Watch
Watch for future disclosures regarding capital expenditure (capex) plans, technology partnerships, and the timeline for the commencement of commercial operations for the BESS subsidiary.
Solex Energy Recommends ₹0.55 Dividend and Proposes BSE Mainboard Listing
Solex Energy Limited has recommended a final dividend of ₹0.55 per equity share for the financial year ended March 31, 2026. In a significant corporate move, the Board also approved the proposal to list the company's shares on the Mainboard Platform of BSE Limited. The dividend is subject to shareholder approval at the upcoming Annual General Meeting and will be paid within 30 days of declaration. The transition to the BSE Mainboard is expected to enhance the company's visibility and stock liquidity.
Key Highlights
Recommended a final dividend of ₹0.55 per equity share of ₹10 face value for FY 2025-26.
Approved the proposal to list existing equity shares on the Mainboard Platform of BSE Limited.
Dividend to be dispatched within 30 days of shareholder approval at the ensuing AGM.
Record date for dividend entitlement will be announced separately in due course.
The Board meeting concluded at 11:50 a.m. on June 18, 2026.
👀 What to Watch
Investors should track the upcoming record date to ensure eligibility for the ₹0.55 dividend and monitor the BSE Mainboard listing progress as it may improve trading volumes.
Solex Energy Board to Meet on June 18 to Consider Dividend for FY 2025-26
Solex Energy Limited has scheduled a Board of Directors meeting on June 18, 2026, to consider and recommend a dividend for the financial year ended March 31, 2026. In accordance with SEBI regulations, the trading window for all designated persons and insiders is currently closed. The window will remain closed until 48 hours after the board meeting's outcome is publicly disclosed. This announcement indicates the company's intent to distribute profits to shareholders following the completion of the fiscal year.
Key Highlights
Board meeting scheduled for June 18, 2026, to discuss dividend recommendation.
Dividend consideration pertains to the full Financial Year ended March 31, 2026.
Trading window for insiders and designated persons is closed as per SEBI Insider Trading Regulations.
Trading window will reopen 48 hours after the declaration of the board meeting outcome.
👀 What to Watch
Investors should watch for the board meeting outcome on June 18 to confirm the dividend amount and subsequent record date. The stock may experience increased volatility or positive sentiment leading up to the announcement.
Solex Energy Named Top Performer in Kiwa PVEL 2026 PV Module Reliability Scorecard
Solex Energy has achieved 'Top Performer' status in the Kiwa PVEL 2026 PV Module Reliability Scorecard, a prestigious global benchmark for solar module quality. The recognition specifically covers the Tapi R (595-625W) and Tapi Trans Dual (570-595W) series, validating their durability and long-term performance through rigorous testing. With a 4 GW automated manufacturing capacity in Gujarat, this independent validation is expected to enhance the company's bankability and appeal to international developers. This milestone reinforces Solex's competitive positioning in the high-efficiency solar module market.
Key Highlights
Recognized as a Top Performer in the Kiwa PVEL 2026 PV Module Reliability Scorecard.
Specific validation for Tapi R (595-625 Watt) and Tapi Trans Dual (570-595 Watt) module series.
Operates a 4 GW fully automated, Industry 4.0-driven manufacturing facility in Tadkeshwar, Gujarat.
Independent third-party assessment provides increased confidence for developers and investors regarding long-term energy yield.
👀 What to Watch
Investors should view this as a significant boost to the company's brand equity and product bankability, which could lead to higher-margin order wins. Monitor the company's ability to leverage this certification to expand its footprint in international and utility-scale markets.
Solex Energy FY26 Revenue Jumps 144% to ₹16,211 Mn; Targets ₹26,000 Mn Revenue for FY27
Solex Energy reported a stellar FY26 with revenue growing 144% YoY to ₹16,211 million and PAT rising 132.7% to ₹983 million. The company has a robust order book exceeding ₹34,000 million and has signed a ₹40,000 million MoU with the Gujarat government for backward integration into solar cells and BESS. Management has guided for a ₹26,000 million revenue target for FY27 with PAT margins expected between 6-8%. Operational efficiency improved significantly as the working capital cycle reduced from 61 to 35 days.
Key Highlights
FY26 revenue grew 144% to ₹16,211 million, while Q4 revenue jumped 247.6% to ₹8,858 million.
Order book visibility exceeds ₹34,000 million, supporting a FY27 revenue target of ₹26,000 million.
Signed ₹40,000 million MoU with Gujarat Government for 5GW solar cell and 10GW BESS facilities.
Operational efficiency improved with working capital cycle dropping to 35 days and ROE standing at 38.4%.
Net debt-to-equity remains healthy at 0.57:1 despite aggressive expansion plans.
👀 What to Watch
Investors should monitor the execution of the massive ₹40,000 million backward integration project and the impact of rising raw material costs on margins. The strong order book and improved working capital cycle provide a solid foundation for the targeted 60% revenue growth in FY27.
Solex Energy FY26 Revenue Surges 144% to ₹16,211 Mn; PAT Up 133% with ₹34,000 Mn Order Book
Solex Energy reported a stellar performance for FY26, with total revenue growing 143.9% YoY to ₹16,211 Mn and PAT increasing 132.7% to ₹983 Mn. The company achieved a significant milestone by expanding its module capacity to 4 GW and maintaining a robust order book of ₹34,000 Mn. Financial efficiency improved markedly, with the working capital cycle dropping from 61 to 35 days and ROE reaching a high of 38.4%. Management also unveiled an ambitious 'Vision 2030' involving a $1.5 billion investment for full backward integration into cells and wafers.
Key Highlights
FY26 Revenue grew 143.9% YoY to ₹16,211 Mn, with Q4FY26 revenue alone surging 247.6% YoY.
Net Profit (PAT) for FY26 rose 132.7% YoY to ₹983 Mn, resulting in an EPS of ₹88.88.
Order book and visibility stand at ₹34,000 Mn as of March 31, 2026, ensuring strong future revenue.
Return on Equity (ROE) and Return on Capital Employed (ROCE) stood at 38.4% and 31.7% respectively.
Announced $1.5 billion 'Vision 2030' plan to reach 10 GW capacity in modules, cells, and BESS.
👀 What to Watch
Investors should consider the massive growth and improving return ratios as a sign of strong execution; monitor the timely commissioning of the upcoming 2.2 GW cell line in 2027.
Solex Energy FY26 Revenue Surges 144% to ₹16,211 Mn; PAT Up 133%
Solex Energy reported a massive 143.9% YoY increase in FY26 revenue to ₹16,211 Mn, driven by a stellar Q4 performance where revenue grew 247.6%. Full-year net profit (PAT) rose by 132.7% to ₹983 Mn, with EPS more than doubling to ₹88.88 from ₹39.98 in the previous year. The company's operational efficiency improved significantly, with the working capital cycle reducing from 61 days to 35 days and operating cash flow reaching ₹2,007 Mn. With a robust order book of over ₹34,000 Mn and a planned $1.5 billion investment for Vision 2030, the company is positioning itself for massive scale in solar cells and BESS.
Key Highlights
Total Revenue for FY26 reached ₹16,211 Mn, a growth of 143.9% YoY, with Q4 revenue alone at ₹8,858 Mn.
Net Profit (PAT) for FY26 increased to ₹983 Mn (up 132.7% YoY) with a PAT margin of 6.1%.
Company maintains a strong balance sheet with ROE of 38.4%, ROCE of 31.7%, and a low Debt-to-Equity ratio of 0.57:1.
Order book stands at a healthy ₹34,000+ Mn, providing strong revenue visibility for the coming years.
Working capital cycle improved significantly to 35 days in FY26 from 61 days in FY25.
👀 What to Watch
Investors should view this as a high-growth play in the renewable sector, supported by strong execution and a massive order book. Monitor the progress of the ₹40,000 Mn Gujarat expansion and the transition to cell manufacturing as key future catalysts.
Solex Energy Approves FY26 Audited Results and Re-appoints Key Management Personnel
Solex Energy's Board has approved the audited standalone and consolidated financial results for the fiscal year ended March 31, 2026. The statutory auditors, M/s Maheshwari & Co., issued an unmodified opinion, indicating no major accounting discrepancies. The company confirmed the re-appointment of Dr. Chetan Shah as Chairman and Managing Director, ensuring leadership continuity. Additionally, internal and cost auditors were re-appointed for FY 2026-27, and the insider trading policy was updated.
Key Highlights
Approved audited standalone and consolidated financial results for the year ended March 31, 2026.
Statutory Auditor M/s Maheshwari & Co. issued an unmodified audit report for FY26.
Re-appointed Dr. Chetan Shah as Chairman & Managing Director and Mr. Piyush Chandak as Whole-Time Director.
Re-appointed M/s. Savjani & Associates as Internal Auditors and M/s. P.K. Chatterjee & Associates as Cost Auditors for FY27.
Revised the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI).
👀 What to Watch
Investors should review the specific profit and revenue growth figures in the FY26 results to assess operational performance. The continuity in top management and a clean audit report provide a stable outlook for the company's governance.
Solex Energy Approves FY26 Audited Results and Re-appoints Key Management Personnel
Solex Energy's Board of Directors met on May 16, 2026, to approve the audited standalone and consolidated financial results for the fiscal year ended March 31, 2026. The statutory auditors issued an unmodified opinion, indicating no material discrepancies in the financial reporting. The board also confirmed the re-appointment of Dr. Chetan Shah as Chairman & Managing Director and Mr. Piyush Chandak as Whole-Time Director, ensuring leadership continuity. Additionally, internal and cost auditors were re-appointed for the 2026-27 financial year.
Key Highlights
Approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2026
Statutory Auditor Maheshwari & Co. issued an unmodified audit report for the financial year
Re-appointed Dr. Chetan Shah as Chairman & Managing Director and Mr. Piyush Chandak as Whole-Time Director
Re-appointed Savjani & Associates as Internal Auditor and P.K. Chatterjee & Associates as Cost Auditor for FY 2026-27
Revised the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information
👀 What to Watch
Investors should monitor the detailed financial performance metrics for FY26 to evaluate growth; the unmodified audit opinion and management continuity provide a stable outlook.
Solex Energy Approves FY26 Audited Financial Results; Re-appoints Top Management
Solex Energy's board has approved the audited standalone and consolidated financial results for the fiscal year ending March 31, 2026. The statutory auditors, M/s Maheshwari & Co., issued an unmodified opinion, confirming the reliability of the financial statements. In a move to ensure leadership continuity, the board re-appointed Dr. Chetan Shah as Chairman & Managing Director and Mr. Piyush Chandak as Whole-Time Director. The company also confirmed the re-appointment of its internal and cost auditors for the 2026-27 financial year.
Key Highlights
Approved audited standalone and consolidated financial results for the full year ended March 31, 2026.
Statutory auditors issued an audit report with an unmodified opinion for the reporting period.
Re-appointed Dr. Chetan Shah as Chairman & Managing Director and Mr. Piyush Chandak as Whole-Time Director.
Re-appointed M/s. Savjani & Associates as Internal Auditors and M/s. P.K. Chatterjee & Associates as Cost Auditors for FY 2026-27.
Revised the company's Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI).
👀 What to Watch
Investors should examine the detailed profit and loss statements once fully released to evaluate the company's operational performance. The re-appointment of key management suggests strategic stability, which is generally positive for long-term sentiment.
