Incorporated in 1995, Solex Energy Ltd is a prominent player in India's renewable energy sector, specializing in solar photo-voltaic (PV) cells and modules. The Gujarat-based company is also actively involved in Engineering, Procurement, and Construction (EPC) for solar energy projects, offering comprehensive solutions for residential, commercial, industrial, and utility-scale ventures. Solex Energy has established itself as a significant manufacturer of solar products and a provider of services across diverse market segments.
Solex Energy operates through multiple business verticals, catering to the increasing demand for renewable energy solutions. The company specializes in the manufacturing of Solar PV Modules, solar home lights, solar street lights, solar lanterns, solar power plants, solar inverters, solar water heating systems, and wood-fired water heaters, among other products.
Its comprehensive product range includes Solar PV Modules (3WP - 325 WP), Solar Lanterns (CFL & LED Base), Solar Home Light Systems (CFL & LED Base), Solar Street Light Systems (CFL & LED Base), Solar Off-Grid Power Plants (Solar Rooftop Systems), Solar Grid Connected Power Plants, Solar Water Heater Flat Plant Collectors, Solar Water Heater ETC Type, Solar Submersible Pumps (AC & DC), and Solar Surface Pumps (DC). Solex utilizes advanced MONO PERC and TOP-Con technology to produce Monofacial and Bi-facial modules across various power capacities, demonstrating its commitment to technological advancements in solar manufacturing.
Solex Energy has significantly expanded its manufacturing capabilities. The company operates a global factory in Tadkeshwar, Gujarat, boasting a 1.5 GW production capacity for PV modules. Under its Vision 2030 strategy, Solex aims to become one of India's largest solar manufacturers, with plans to expand its total production capacity to 15 GW. Earlier this year, Solex commissioned an 800 MW solar module manufacturing line at a new facility in Gujarat, dedicated to producing its n-type rectangular Tapi-R series TOPCon modules.
Solex Energy has demonstrated exceptional financial performance in recent years. For the fiscal year ending March 31, 2025, the company reported consolidated revenues reaching ₹665.82 crore, marking a significant 81% year-on-year growth compared to ₹368.02 crore in FY 2023-24. The company's profitability has shown remarkable improvement, with Profit After Tax (PAT) soaring by 390% to ₹42.79 crore from ₹8.73 crore in the previous year. Consequently, the company's earnings per share (EPS) rose to ₹43.82, reflecting a 301% growth year-on-year.
• Total Revenue: ₹665.82 crore (81% growth YoY)
• Profit After Tax: ₹42.79 crore (390% growth YoY)
• Earnings Per Share: ₹43.82 (301% growth YoY)
• Dividend: ₹0.55 per share (5.5%)
As of July 2025, Solex Energy's market capitalization stood at ₹1,500 crore. The company's stock is listed on the NSE under the symbol SOLEX and trades on the SME (Small and Medium Enterprise) exchange segment, being the first Indian solar brand listed on NSE Emerge. The 52-week high for Solex Energy Ltd (SOLEX) stock has been ₹1786.70, and the 52-week low ₹630.90, reflecting the dynamic nature of the renewable energy sector and the company's growth trajectory.
Quality and reliability are central to Solex Energy's operations. The company holds ISO 14001:2015 Certification, ISO 9001:2015 Certification, OHSAS 18001:2007, and CE MARK CERTIFIED, ensuring high-quality and reliable systems. Solex modules are TUV certified and tested by UL India Pvt. Ltd, complying with international standards, which underscores the company's commitment to quality for both domestic and international markets.
Solex Energy is engaged in OEM (Original Equipment Manufacturer) and ODM (Original Design Manufacturer) partnerships with Indian and International entities for module production under their brand names. This diversified approach allows Solex to serve a broader customer base and maintain steady revenue streams through contract manufacturing. The company has also been expanding its geographical presence across India, with stellar growth driven by increased demand for solar modules, strategic execution of large-scale EPC projects, and expansion into states such as Maharashtra, Tamil Nadu, Uttar Pradesh, and Rajasthan.
Solex Energy has ambitious expansion plans under its Vision 2030 strategy, aiming to significantly increase its manufacturing capacity to 15 GW. Recent developments include the incorporation of a wholly-owned solar power subsidiary, Solex New Energy Pvt Ltd, on July 3, 2025, indicating a strategic move to expand its presence in the solar power generation segment. The company continues to secure significant orders, with recent announcements of a work order worth Rs 29 crore from Zodiac Energy for the supply of solar PV Modules, demonstrating strong demand for its products.
Solex Energy's journey from its establishment in 1995 to becoming a significant player in India's renewable energy sector reflects the broader transformation of the country's energy landscape. With its strong financial performance, expanding manufacturing capabilities, and strategic vision for 2030, the company is well-positioned to capitalize on India's ambitious renewable energy targets and contribute to the nation's journey toward energy independence and sustainability.
