Intimation of Analyst/Investor Meet

Solex Energy Limited

  • Event Type: Post Earning Conference Call for Q1 FY27 results discussion
  • Event Date: August 17, 2026 (scheduled on the same day as the disclosure)
  • Purpose: Discussion of quarterly results for the quarter ended June 30, 2026 and strategic update
  • Management Participants: Dr. Chetan Shah, Chairman & Managing Director (provided commentary)
  • Presentation Availability: Investor presentation was enclosed with the regulatory filing and will be used for the conference call
  • UPSI Statement: The company did not include any specific statement regarding unpublished price sensitive information in this disclosure

Financial Highlights

Q1 FY27 Financial Performance (compared to Q1 FY26):

  • Total Revenue: ₹2,656.3 million, up 1.8% YoY (from ₹2,610.5 million)
  • Net Sales: ₹2,608.2 million, up 0.5% YoY (from ₹2,596.1 million)
  • EBITDA: ₹337.9 million, down 20.9% YoY (from ₹427.0 million)
  • EBITDA Margin: 12.7%, down 354 bps from 16.4%
  • PAT: ₹82.6 million, down 66.6% YoY (from ₹247.1 million)
  • PAT Margin: 3.1%, down 636 bps from 9.5%
  • EPS: ₹7.39 (compared to ₹22.36 in Q1 FY26)

Balance Sheet as of March 31, 2026:

  • Total Equity: ₹2,561 million
  • Total Borrowings: ₹2,693 million (Current: ₹761 million + Non-current: ₹1,932 million)
  • Net Debt-to-Equity: 0.57:1 (FY26)
  • Total Assets: ₹11,814 million
  • Plant, Property and Equipment: ₹2,739 million

Business Updates & Strategic Initiatives

Order Book & New Orders:

  • Order book of approximately ₹3,400 crore (as of June 30, 2026)
  • ₹628.37 crore N-Type TOPCon module order from a global renewable energy group (July 2026)
  • ₹42.47 crore order received in August 2026
  • LOI for ₹175 crore order (MSA at signing stage)
  • Total ₹845.84 crore in new orders targeted for execution before December 31, 2026

Expansion Plans:

  • Proposed ₹4,000 crore integrated solar cell and BESS manufacturing ecosystem in Gujarat
  • Solar Module Manufacturing Capacity: Current 4GW, planned expansion to 10GW by FY30
  • Solar Cell Manufacturing Capacity: Planned 2.2GW in FY27, expanding to 10GW by 2030
  • Additional plans: 10GW Battery Energy Storage Systems (BESS) and 2GW Ingot & Wafer Manufacturing by 2030

Cell Manufacturing Project Financing (2.2GW capacity):

  • Capex Required: Approximately ₹1,050 crores
  • Financing Plan: ~₹700 crores through debt, ~₹350 crores through mix of equity & debt

Growth Targets:

  • Aspiring ~3x topline growth by FY28E
  • Aspirational PAT margin: 5-6% by FY28

Operational Highlights

Manufacturing Capabilities:

  • 4GW module capacity with P-Type Mono PERC and N-Type TOPCon technology
  • Certified for global markets (ALMM & BIS compliant)
  • Serving IPP & utility-scale projects
  • Module efficiency up to 24.6%

Geographic Presence:

  • Presence across 22+ Indian states and international markets
  • Export presence in 7 countries across Europe, North America and Africa
  • Expanded footprint across US, Europe, Africa & Middle East

Certifications & Compliance:

  • ALMM approved (highest number of modules registered)
  • BIS, UL, ISO, OHSAS, KIWa, CEC, IEC certifications
  • Environmental testing leadership with in-house reliability test lab

Corporate Developments:

  • Completed listing on BSE (broadening investor base)
  • Added 2,500+ professionals, strengthening organizational capability

Additional Notes

  • The document includes a comprehensive investor presentation with detailed financials, operational metrics, and strategic outlook
  • The presentation contains forward-looking statements regarding growth aspirations and expansion plans
  • No specific dial-in information or conference call details were provided in this particular disclosure
  • The document was filed pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015
  • Attachment: Investor Presentation for Post Earning Conference Call