Solex Energy Limited — PPTs, 27-05-2025: Investor Presentation

1. Financial Highlights:

Solex Energy posted strong growth with H2 revenue at ₹391.7 Cr, up 42.8% YoY, and full-year revenue at ₹665.8 Cr, rising 80.9%. EBITDA soared 144.5% to ₹51.4 Cr in H2, pushing margins up 546 bps to 13.1%. Profit after tax reached ₹29.8 Cr, a 128.8% jump, with net margin expanding 468 bps to 7.6%. Shareholders’ funds increased to ₹160.6 Cr, and total assets nearly doubled to ₹480.3 Cr, driven by higher inventories and receivables due to capacity and order growth. The order book remains strong at ₹175.6 Cr.

2. Strategic Initiatives & Growth Drivers:

Solex commissioned a new 800 MW automated line adding to an existing 700 MW, growing total capacity to 1.5 GW. The Tapi-R series features advanced N-Type TOPCon technology with 23.14% efficiency and up to 625 Wp power output. A ₹200 Cr investment is underway to scale module capacity to ~4 GW by Q3 FY26. Plans for a 2 GW solar cell manufacturing facility aim to build a fully integrated solar ecosystem aligned with Vision 2030.

3. Business Developments:

A large order of ₹451.4 Cr for 310 MW of N-Type TOPCon modules was secured, signaling strong market acceptance. The Tapi-R modules were launched for higher performance and durability. Manufacturing leverages AI and Automated Optical Inspection for quality, supported by an in-house reliability test lab following latest standards.

4. Market Position & Competitive Advantage:

With decades of experience, Solex is a pioneer in Indian solar PV manufacturing, holding India’s first MCS 005 BSI Kitemark. Its Industry 4.0-enabled facility combines AI precision and scale for superior quality and faster production. Established exports to markets including the UK, Europe, and UAE strengthen its global footprint.

5. Investor Implications:

Strong revenue and margin growth alongside capacity expansion underpin positive growth potential. Strategic technology investments and vertical integration boost long-term competitiveness. The move to the NSE Main Board should enhance liquidity and visibility. Investors should monitor execution risks around capacity scaling and demand but can view the robust order pipeline and growth plans as optimistic signals.