Solex Energy Limited (SOLEX)

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Solex Energy Limited (SOLEX) · mywealthgrid

About

Solex Energy manufactures electrical equipment within the Industrials sector, serving industrial clients. Operating at ₹950 Cr market cap, it reported quarterly revenues of ₹800–900 Cr in early 2026, stepping back to ₹150–320 Cr in Sep–Dec 2025. The company shows high ROE of 37.96% and OPM of 11.35%, though quarterly performance is volatile.

Face value: ₹10

Market cap

₹725 Cr

P/E

8.9×

P/B

2.9×

Dividend yield

0.1%

ROE

38%

ROCE

31.7%

Debt / equity

1.06

OPM

11.4%

EPS (TTM)

₹75.7

Book value

₹234.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Quarterly revenue highly volatile (₹155–₹885 Cr across recent quarters); verify customer concentration, order predictability, and whether volatility reflects lumpy project-based business or data anomalies.
OPM ranged 7.74%–12% in recent quarters; verify margin sustainability and sensitivity to input costs or product mix.
D/E of 1.06 is elevated; verify debt maturity profile, covenant headroom, and cash generation in a revenue downturn.
Stock declined 30% in 1 year despite ROE of 37.96% and PE of 9.9; verify what market concerns (order risk, competition, sector headwinds) justify the valuation discount.

Generated analysis · source review pending

Growth drivers

Revenue jumped to ₹885.53 Cr in Mar 2026 from ₹155.02 Cr in Sep 2025 (5.7× increase); verify if this ramp sustains or reflects one-time project execution.
ROE of 37.96% indicates capital-efficient profit generation; reinvestment at this return rate would compound organic growth.
Electrical equipment typically serves industrial capex cycles; verify order pipeline, backlog, and whether current infrastructure policy is in acceleration phase.

Generated analysis · source review pending

1,473 historical price candles were omitted because the exchange source has not been verified.

₹671.0-2.6%1Y

Quick read

rule-based

Pros

+Strong return on equity of 38% (3-yr avg)
+High return on capital employed of 31.7%

Cons

−Low dividend payout of 0.7% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

76/100

Business quality: 57
Valuation: 95

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Apar Industries LimitedAPARINDSAPARINDS	₹70,945 Cr	₹71,785 Cr	₹24,389 Cr	₹2,159 Cr	8.2%	₹1,182 Cr	4.3%	32.6%	19.7%	30
Waaree Energies LimitedWAAREEENERWAAREEENER	₹67,322 Cr	₹69,813 Cr	₹30,043 Cr	₹6,351 Cr	22.3%	₹2,763 Cr	14.6%	39.7%	30.9%	95
Premier Energies LimitedPREMIERENEPREMIERENE	₹39,863 Cr	₹43,480 Cr	₹8,466 Cr	₹2,543 Cr	30.4%	₹1,665 Cr	19.3%	36.3%	42.4%	115
Mtar Technologies LimitedMTARTECHMTARTECH	₹24,015 Cr	₹24,384 Cr	₹1,080 Cr	₹228 Cr	19.5%	₹133 Cr	10.7%	17.2%	12.1%	419
Emmvee Photovoltaic Power LimitedEMMVEEEMMVEE	₹21,177 Cr	₹21,355 Cr	₹5,578 Cr	₹1,932 Cr	34.3%	₹1,274 Cr	21.4%	43.6%	51.1%	159
Diamond Power Infrastructure LimitedDIACABSDIACABS	₹18,182 Cr	₹20,711 Cr	₹2,298 Cr	₹270 Cr	11.7%	₹197 Cr	8.3%	12.4%	—	93
Avalon Technologies LimitedAVALONAVALON	₹15,232 Cr	₹15,415 Cr	₹1,764 Cr	₹201 Cr	10.8%	₹134 Cr	7.1%	23.4%	16.9%	160
Fujiyama Power Systems LimitedUTLSOLARUTLSOLAR	₹12,327 Cr	₹12,788 Cr	₹3,403 Cr	₹639 Cr	18.5%	₹294 Cr	11.5%	29.6%	23.9%	123
Genus Power Infrastructures LimitedGENUSPOWERGENUSPOWER	₹8,518 Cr	₹10,817 Cr	₹5,173 Cr	₹973 Cr	19.2%	₹652 Cr	12.5%	31%	29%	188
Waaree Renewable Technologies LimitedWAAREERTLWAAREERTL	₹8,436 Cr	₹8,517 Cr	₹3,652 Cr	₹697 Cr	19.2%	₹511 Cr	14.4%	84.1%	68.9%	37
Ram Ratna Wires LimitedRAMRATRAMRAT	₹5,752 Cr	₹6,407 Cr	₹6,047 Cr	₹310 Cr	5.1%	₹127 Cr	2.1%	30.4%	20.1%	33
Vikram Solar LimitedVIKRAMSOLRVIKRAMSOLR	₹5,594 Cr	₹5,694 Cr	₹5,232 Cr	₹800 Cr	19.1%	₹357 Cr	9.8%	31.4%	21.3%	11

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2025	Mar 2026
	662	1,618
COGS	512	1,303
Gross profit	150	315
	77	131
	73	184
OPM %	11%	11.4%
Depreciation	9	25
Interest	11	31
	4	3
Profit before tax	57	131
Tax	14	33
Tax %	24.6%	25.1%
	42	98
PAT margin %	6.4%	6.1%
EPS (₹)	43.8	88.9
EPS adjusted (₹)	—	88.9
	0%	0.6%

₹ Cr	Mar 2025	Mar 2026
Equity capital	—	11
Reserves	—	242
Minority interest	—	3
	—	269
	480	656
Total equity & liabilities	480	1,181
	110	338
CWIP	—	11
Investments	2	0
	368	833
Total assets	480	1,181

₹ Cr	Mar 2025	Mar 2026
	-47	201
	-54	-225
	113	89
Net cash flow	12	64
Free cash flow	-114	7
CFO / Operating profit %	-65%	109.3%

Compounded sales growth

7 years: —
5 years: —
3 years: —
1 year: 144%

Compounded profit growth

7 years: —
5 years: —
3 years: —
1 year: 134%

Return on equity

7 years: —
5 years: —
3 years: —
Last year: 38%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2025	Mar 2026
Margins
Gross margin %	22.7%	19.5%
EBITDA margin %	11%	11.4%
EBIT margin %	9.6%	9.8%
PAT margin %	6.4%	6.1%
Working capital
Receivable days	—	80
Inventory days	128	81
Payable days	—	128
NWC days	—	33
Leverage
Current ratio	1.47	1.23
Debt to EBITDA	—	1.47
Debt to equity	—	1.06
Interest coverage	6.3	5.2
Asset turnover	1.38	1.37
Return ratios
Return on assets %	8.8%	8.3%
Return on capital employed %	28.9%	43.4%
Return on equity %	—	38.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

No shareholding data

Quarterly shareholding records haven't been ingested for this company.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Solex Energy Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

1

Dividend dividend15 Sept 2026 · ex-date₹0.55

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

21 announcementsExport CSV

28 Sept 2026, 1:07 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

22 Sept 2026, 3:38 pmCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

22 Sept 2026, 1:55 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

3 Sept 2026, 6:29 pmCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

3 Sept 2026, 4:03 pmCompany Update

Outcome Of Board Meeting Held On June 18, 2026 - Outcome Being Submitted Subsequent To Listing Of The Company

General PDF

3 Sept 2026, 3:59 pmCompany Update

Intimation Of Board Meeting Held On June 18, 2026, Intimation Being Submitted Subsequent To Listing Of The Company

General PDF

3 Sept 2026, 9:59 amCompany Update

Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order

Award of Order / Receipt of Order PDF

2 Sept 2026, 10:01 amCompany Update

Outcome Of Board Meeting Held On August 14, 2026 - Outcome Being Submitted Subsequent To Listing Of The Company

General PDF

Date	Category	Subject	Filing
28 Sept 2026, 1:07 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
22 Sept 2026, 3:38 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF

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Solex Energy Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

No shareholding data

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Dividends1

Announcements

Dividends1

Ratio timeline

No shareholding data

Not in the F&O segment

No fund holdings on record

Announcements

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

1