Solex Energy Limited has become a significant player in India’s solar industry, delivering multi bagger returns of 10,250% in just five years.
The company’s cutting-edge solar solutions and robust manufacturing capabilities have positioned it for continued success in the growing renewable energy sector. The current market price of Solex Energy Ltd is ₹1,624.75
Share Price Movement:
With a market cap of ₹1,838 Crores, Solex Energy Limited (SOLEX) saw its share price increase by 0.59%, closing at ₹1,547.40, up from the previous close ₹1,538.40. The current market price and high for the day is ₹1,624.75.
Returns:
Over the past five years, Solex Energy has delivered impressive returns. Shares that were priced at ₹15.60 on March 30, 2020, now exhibit a staggering 10,250% growth; for example, if someone had invested ₹10,000 into the company’s stock 5 years ago, it would have turned into around ₹1.03 lakh today.
Also Read: SBI Expected to Report Strong Profit Growth in Q2 FY25; See What’s Driving It!
Future Growth Plans:
In line with its Vision 2030, Solex Energy plans to invest over ₹8,000 Crores in advanced solar technology and expansion.
This includes increasing its module manufacturing capacity from 1.5 GW to 15 GW and establishing a new cell manufacturing unit starting at 2 GW, scalable to 5 GW. The company aims to grow its workforce further to support these expansions.
Recent News:
Solex Energy has launched India’s first rectangular cell-based solar modules with N-Type TOPcon Technology, branded as the Tapi-R series.
Engineered for harsh environments like deserts, these modules offer an 80% bifacial rate and a power temperature coefficient of -0.28%/°C.
The series comes with a 12-year product warranty and a 30-year performance guarantee, making it a major innovation in the solar sector.
Also Read: SEBI’s New Proposal: How Will ‘Skin in the Game’ Rule Change for Mutual Fund Employees?
About the Company:
Solex Energy manufactures solar PV modules and turnkey solutions across residential, commercial, industrial, and utility segments. With OEM and ODM partnerships, its clientele includes prominent names such as Indian Oil, ONGC, Amul, Tata, and NPCIL.
The company’s 1.5 GW capacity is being expanded to over 4 GW. It holds a strategic market position with a diverse shareholding structure of institutional and retail investors.
Financials and Ratios:
Solex reported a revenue rise from ₹161 Crores in FY23 to ₹366 Crores in FY24, a 127% increase. Net profits rose from ₹3 Crores to ₹9 Crores.
The company’s return on equity (ROE) stands at 20.8%, with a return on capital employed (ROCE) at 17.9%. Its debt-to-equity ratio remains manageable at 2.08, highlighting its financial stability.
