Financial Performance Highlights

Solex Energy Limited reported strong financial performance for FY26:

  • Revenue: ₹16,211 million, representing 143.9% year-on-year growth
  • EBITDA: ₹1,867 million
  • Profit After Tax: ₹983 million
  • Order visibility exceeding ₹34,000 million

Strategic Expansion Plans

The company outlined a comprehensive growth strategy at its 12th Annual General Meeting:

Manufacturing Capacity Expansion:

  • Establishing 2.2 GW of solar cell capacity by FY28
  • Scaling solar cell capacity to 5.2 GW by early FY29
  • Developing capabilities for 10 GWh of battery pack and container assembly
  • First 5 GWh phase of BESS capacity targeted for FY29

Investment Program:

  • ₹4,000 crore investment planned between FY27 and FY30
  • Largest expansion program in company's history

Revenue Targets:

  • Targeting revenue potential of more than ₹4,500 crore by FY28

Business Model Evolution

The company is transitioning from solar module manufacturing to an integrated renewable energy platform spanning:

  • Solar cells manufacturing
  • Solar modules manufacturing
  • Battery Energy Storage Systems (BESS)

This integrated approach aims to strengthen control over quality, costs, and supply chain resilience while deepening participation in India's domestic manufacturing ecosystem.

International Expansion

Solex is expanding its global presence through:

  • Solex Europe initiative
  • Solex USA initiative
  • Focus on building long-term customer partnerships internationally
  • Establishing the company as a trusted Indian solar manufacturing brand in global markets

Market Opportunity

The company identified several growth drivers:

  • Increasing electricity demand across electric mobility
  • Industrial electrification
  • Artificial intelligence and data centers
  • Energy intensive sectors
  • Integration of renewable generation and storage becoming increasingly important

Company Background

Solex Energy Limited has nearly three decades of experience in solar industry since 1995. The company operates a state-of-the-art, Industry 4.0 enabled manufacturing facility at Tadkeshwar, Gujarat with:

  • 4 GW production capacity for photovoltaic modules
  • Advanced automation and real-time quality controls
  • Data-driven manufacturing processes
  • Globally recognized certifications
  • Exports to multiple countries
  • Preferred OEM partner to internationally recognized brands

Beyond manufacturing, Solex provides comprehensive EPC solutions across utility-scale, commercial, industrial, and institutional segments.

Leadership Commentary

Dr. Chetan Shah, Chairman and Managing Director, stated: "We are building Solex not merely to participate in the energy transition, but to build the capabilities that will shape the next generation of energy. Our focus is on creating an integrated, technology driven and globally competitive energy platform from India, with the resilience to grow across cycles and the discipline to create enduring value."