SOLEX

Solex Energy Limited

Solex Energy Limited (SOLEX) financial statements and selected valuation metrics through 30 June 2026.

Industrials›Capital Goods›Electrical Equipment›Other Electrical Equipment

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Key metrics

Price as of 2026-10-16

Stock price

₹625.10

Market cap

675 Cr

Stock P/E

8.4

P/B

2.67

Dividend yield

0.1%

ROE (FY26)

37.5%

ROCE (FY26)

30.8%

Operating margin (FY26)

9.8%

Debt / equity (FY26)

1.06

OCF / EBITDA (FY26)

109.3%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

Solex Energy manufactures solar photovoltaic (PV) modules and provides solar EPC (engineering, procurement and construction) services, selling mainly to large independent power producers in India from its base in Surat, Gujarat.

Company snapshot

25thBy market cap

Ranked among 32 companies in Other Electrical Equipment.

What we see

Positives

✓Cash flow from operations is higher than reported profit — earnings quality looks solid.

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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

Metric	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	155 Cr	318 Cr	886 Cr	261 Cr
Operating expenses (approx.)	136 Cr	292 Cr	787 Cr	232 Cr
EBITDA	19 Cr	26 Cr	98 Cr	29 Cr
OPM %	12.0%	8.1%	11.1%	11.1%
Other income	-0.38 Cr	2 Cr	0.27 Cr	5 Cr
Interest	6 Cr	9 Cr	10 Cr	12 Cr
Depreciation	4 Cr	6 Cr	10 Cr	10 Cr
Profit before tax	8 Cr	12 Cr	78 Cr	11 Cr
Tax %	26.7%	26.0%	24.7%	25.8%
Net profit	6 Cr	9 Cr	59 Cr	8 Cr
EPS (₹)	₹27.20	₹8.07	₹53.61	₹7.39

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

Metric	Mar 2025	Mar 2026	TTM
Sales	662 Cr	1,618 Cr	Sign in free for the trailing twelve months
Operating expenses (approx.)	589 Cr	1,434 Cr	Sign in free for the trailing twelve months
EBITDA	73 Cr	184 Cr	Sign in free for the trailing twelve months
OPM %	11.0%	11.4%	Sign in free for the trailing twelve months
Other income	4 Cr	3 Cr	Sign in free for the trailing twelve months
Interest	11 Cr	31 Cr	Sign in free for the trailing twelve months
Depreciation	9 Cr	25 Cr	Sign in free for the trailing twelve months
Profit before tax	57 Cr	131 Cr	Sign in free for the trailing twelve months
Tax %	24.5%	25.1%	Sign in free for the trailing twelve months
Net profit	42 Cr	98 Cr	Sign in free for the trailing twelve months
EPS (₹)	₹43.82	₹88.88	Sign in free for the trailing twelve months
Dividend payout %	1.1%	0.6%	Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

Metric	Mar 2025	Mar 2026
Equity capital	11 Cr	11 Cr
Reserves	150 Cr	242 Cr
Borrowings	—	269 Cr
Other liabilities	320 Cr	656 Cr
Total liabilities	480 Cr	1,181 Cr
Fixed assets (net)	110 Cr	337 Cr
CWIP	—	11 Cr
Investments	2 Cr	0.09 Cr
Loans & advances	—	12 Cr
Inventories	180 Cr	290 Cr
Trade receivables	116 Cr	357 Cr
Cash & bank	12 Cr	76 Cr
Other assets	60 Cr	98 Cr
Total assets	480 Cr	1,181 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

Metric	Mar 2025	Mar 2026
Cash from operating activity	-47 Cr	201 Cr
Cash from investing	-54 Cr	-225 Cr
Cash from financing	113 Cr	89 Cr
Net cash flow	12 Cr	64 Cr
Free cash flow (OCF − Capex)	-114 Cr	7 Cr

Ratios

Metric	Mar 2025	Mar 2026
ROCE %	42.0%	30.8%
ROE %	26.2%	37.5%
Debtor days	64	80
Inventory days	136	79
Days payable	69	125
Cash conversion cycle	130	34
OCF / EBITDA %	-65.0%	109.3%
Debt / equity	0.00	1.06
Current ratio	1.47	1.23
Net debt / EBITDA	-0.16	1.05