One of the well-known names in the renewable energy landscape, Solex Energy, has announced an 80% revenue growth for FY25, reaching a total of INR 665 crore. This is up from INR 368 crore from the previous year.
Solex reported exceptional growth in domestic and international expansion. Its compounded annual growth rate (CAGR) of 110% over the years has solidified its position in the solar sector. The company is also planning a migration to the mainboard.
What Sets Solex Energy Apart
- Revenue growth— An 80% year-on-year surge, INR 368 crore in FY 2023-24, increased to INR 665 crore in FY 2024-25.
- Diversification— About 22% of revenue comes from the Engineering, Procurement and Construction (EPC) business. The rest comes from flagship photovoltaic (PV) modules.
- Expansion Plan— The company has a massive expansion plan to increase its module manufacturing capacity from 1.5 GW to 15 GW over the next few years. That will require an investment of around INR 8,000 crore.
- Gujarat Facility— The manufacturing facility in Tadkeshwar, Gujarat, is the backbone of operations. The company have a current capacity of 1.5 GW for PV modules.
Stock Performance and Market Confidence:
Solex Energy made its stock market debut on 5 February 2018, with an issue size of INR 7.18 crore, which was oversubscribed 19.15 times. On the day of listing, the stock opened 1.53% below its allotment price of INR 52 per share. However, the stock soon turned into a multibagger and delivered a 1,800% return on investment.
As of 4 April 2025, shares of Solex were trading around INR 767 per share, reflecting a gain of 5%. Its 52-week range spans from INR 624 to INR 1,786.70, underscoring the market’s recognition of Solex’s potential within the green energy space.
Strategic Leadership and Future Outlook:
Chetan Shah, Chairman & Managing Director of Solex Energy said, “As we complete 30 years in the industry, we are committed to accelerating India’s clean energy journey and expanding our global presence. Our growth is a testament to our focus on innovative solar solutions and customer delight.”
A Solar Bright Future
With a strong project pipeline and a clear focus on sustainability, Solex Energy is ready to emerge as a key player in India. As governments and industries move to transition to renewable energy, Solex’s capacity expansion and innovative solutions will be at the forefront of the solar revolution.
This remarkable growth and forward-looking strategy put Solex Energy in a great position to benefit from the global shift to renewable energy. Investors, stakeholders and environment enthusiasts will be watching as the company continues its journey to shape the future of solar energy.
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