In a big boost to India’s renewable energy sector, Solex Energy has announced record breaking financial results. Solex Energy FY25 results reported 390% jump in Profit After Tax (PAT), from INR 8.73 crore in FY24 to INR 42.79 crore in FY25. The results are already creating a buzz in the markets and green energy circles.
Founded in 1995 and based in Surat, Gujarat, Solex Energy has established itself as one of India’s most trusted solar brands. With this performance, the company has solidified its position as a key player in India’s transition to sustainable energy, in line with the national goal of net-zero emissions.
Solex Energy FY25 Results – Topline Growth
Consolidated revenue grew 81% year-on-year to INR 665.82 crore from INR 368.02 crore in FY 2023-24. This is a period of strategic growth and operational scale up with Solex leveraging demand across residential and industrial solar solutions. Presence in high growth states like Maharashtra, Tamil Nadu, Uttar Pradesh and Rajasthan has been key to this growth.
EBIDTA was INR 73.12 crore, a 157% increase YoY indicating good operating efficiency despite rising input costs and competitive pricing pressure. This margin resilience is a reflection of Solex’s vertically integrated business model from module manufacturing to full service EPC (Engineering, Procurement and Construction) delivery.
Profitability at an Inflection Point
Solex’s improvement in bottom line numbers is a result of good cost management and scale driven efficiencies. Earnings Per Share (EPS) grew 301% to INR 43.82, a big number that should attract more investor attention, especially from long term ESG aligned funds and institutions looking to invest in India’s clean tech future.
Another important metric is the company’s Net Worth which grew 247.39% to INR 160.63 crore, indicating improved shareholder value and a stronger balance sheet.
“Our FY 2024-25 performance is a result of Solex Energy’s relentless focus on excellence, customer trust and operational agility,” said Chetan Shah, Chairman & Managing Director in the statement. He added that the company’s Vision 2030 is to make Solex the most trusted solar energy partner in India.
Strategic Execution and Visionary Thinking
The year was marked by Solex’s execution of large EPC projects, higher solar module capacity utilization and strengthening of export footprint. The company’s facility in Tadkeshwar, Gujarat with 1.5 GW capacity is the backbone for scalable and cost effective production – a key competitive advantage as global supply chains are unpredictable.
Also adding to investor confidence is Solex’s robust certification portfolio for domestic and international markets which supports the company’s export plans and aligns with India’s goal of becoming a global solar manufacturing hub.
Solex Energy Post IPO Performance
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. Solex Energy made an all-time high of INR 1,782.55 per share on 8 November 2024, reflecting ~3,327% returns from IPO allotment price.
As of 13 May 2025, shares of Solex were trading around INR 915 per share per share, a correction of ~48% from its all-time high.
Outlook
With clean energy mandates increasing and solar penetration moving beyond utility scale to commercial and residential segments, Solex is in a sweet spot. Delivering quality modules at competitive prices along with end to end EPC services is a big value proposition.
In a world where green energy stocks are in focus, Solex Energy’s fundamentals now justify a re-rating. Sharp rise in profitability, healthy revenue mix, operational scale and forward looking management all make SOLEX a stock to watch out for in FY 2025-26.
Conclusion
Solex Energy FY25 results is not just a numbers game — it’s a tipping point. From being a pioneer in solar manufacturing in late 90s to now being a key player in India’s clean energy journey, the company has shown vision, grit and scalability.
As India gets ready for a cleaner, greener tomorrow, Solex Energy is all set to light the way — financially and sustainably. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.