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Prices as of 9 Oct 2026 close · Not investment advice

Solex Energy Limited

NSE: SOLEXOther Electrical Equipment

Share price

₹643.65

-1.45% close of 9 Oct 2026

Market cap ₹708 CrP/E 8.9

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

60

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹708 Cr

P/E ratio

8.9

P/B ratio

2.8

ROCE

34.9%

ROE

46.7%

Dividend yield

0.1%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 9 Oct 2026 close52-week high ₹1,918.0052-week low ₹643.65

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Our sales figures for this company step up at Mar 2023 and we hold nothing that says why, so we cannot honestly quote a growth rate across it.

Whether it grew faster than its sector

Our sales figures for this company step up at Mar 2023 and we hold nothing that says why, so there is no honest growth rate of its own to set against its sector.

Room to re-rate, or risk of de-rating

For most of its recorded history its earnings were a fraction of today's, so its past price multiples are not a fair comparison.

Whether growth justifies the valuation

Priced at 0.0 times its growth rate, on earnings growth of 228%.

Profit growthPrice per ₹1 profitPer 1% growth
Solex Energy Limited — this one228%/yr8.9×—
Waaree Energies Limited99%/yr16.6×₹0.17
Premier Energies Limited365%/yr24.2×—
Mtar Technologies Limited-2%/yr178.7×—
Diamond Power Infrastructure Limited—115.7×—
Emmvee Photovoltaic Power Limited393%/yr16.3×—

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Other Electrical Equipment), it ranks 6 of 34 on returns, 24 of 34 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

A wide advantage: it earns 34.9% on capital, ahead of 82% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

No — Over the 3 years of cash statements on file it made ₹163 crore of cash from the business but spent ₹268 crore on plant and equipment, ₹105 crore more than it made; the gap was mostly borrowed — borrowings rose from ₹96 crore to ₹339 crore.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

6 of 9 checks clear · 67%

Latest result · Q2 FY26

What the last results showed. Whether management kept its word is in Pro.

Announced 11 Sep 2026 · Standalone · Unaudited

Revenue

₹149 Cr

Net profit

₹3 Cr

EPS

₹3.15

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹708 Cr
Prev close
₹643.65
52w High
₹1,985
52w Low
₹638
Enterprise value
₹924 Cr
Beta
1.2
Price CAGR 1y
-61.0%
Price CAGR 3y
15.0%
Price CAGR 5y
76.0%
Price CAGR 10y
—

Ratios

Return on assets
8.3%
PEG ratio
0.0
P/E ratio
8.9
P/B ratio
2.8
EV / EBITDA
5.4
Industry P/E
32.5
ROCE
34.9%
ROCE 5y average
32.0%
ROE
46.7%
Debt / Equity
1.3
Interest coverage
5.2
Dividend yield
0.1%
ROE 3y average
41.0%
ROE last year
47.0%

Annual P&L

Annual revenue
₹1,618 Cr
Annual profit
₹98 Cr
Operating margin
11.0%
Net profit margin
6.1%
EBITDA margin
11.3%
Sales growth 3y
115.4%
Sales growth 5y
—
Profit growth 3y
228.0%
Profit growth 5y
—
EPS
₹88.9
Sales growth TTM
107.0%
Profit growth TTM
29.0%
Dividend payout
1.0%

Quarter P&L

Sales latest quarter
₹261 Cr
Profit latest quarter
₹8 Cr
YoY quarterly sales growth
0.5%
YoY quarterly profit growth
-66.6%
OPM latest quarter
11.1%

Balance Sheet

Book Value
₹230
Face Value
₹10.0
Total debt
₹339 Cr
Total cash
₹123 Cr
Borrowings
₹339 Cr
Reserves / Equity
22.0

Cash Flow

Operating cash flow
₹201 Cr
Free cash flow
₹7 Cr
FCF yield
-3.3%
Net cash flow
₹64 Cr

Shareholding

Promoter holding
66.2%
FII holding
0.1%
DII holding
0.5%
Public holding
33.3%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Apar Inds.17,659.4061.373,9440.33467.577.86,591.129.131.8
Waaree Energies2,322.4016.666,8040.17891.914.17,931.879.238.5
Premier Energies886.2024.240,2290.11471.950.52,462.635.332.7
MTAR Technologie7,603.00170.323,3870.0050.5349.7360.7130.415.2
Diamond Power358.00115.421,4110.0057.1197.8707.3133.010.4
Emmvee Photovol.305.7516.621,1680.33380.3102.61,555.551.344.6
Avalon Tech2,345.00117.415,6840.0034.9145.4484.449.819.3
Solex Energy655.608.97080.088.3-67.0260.80.534.9
Median295.9030.17520.008.129.5135.632.021.5

Competes with: ABB India, Apar Industries Limited, Avalon Technologies Limited, Bharat Heavy Electricals, CG Power and Industrial Solutions Limited, Diamond Power Infrastructure Limited, Emmvee Photovoltaic Power Limited, GE Vernova T&D India Limited, Hitachi Energy India Limited, Mtar Technologies Limited, Premier Energies Limited, Siemens Energy India Limited, Siemens India, Waaree Energies Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemMar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales372114193273132135254260155318886261
Expenses117111226218136292787232
Material Cost249202260666293
Change in Inventories16-1141.4944-134
Purchases of Stock-in-Trade24160.813427
Employee Cost14119.411415
Other Expenses3821212930
Operating Profit1424284119269829
OPM %2.209.186.689.427.2011181116128.141111
Other Income0.961.090.471.44-0.381.530.424.81
Exceptional items (within Other Income)00.240.150
Interest2.532.8955.415.899.351012
Depreciation1.982.513.394.274.446.091010
Profit before tax111920337.89127811
Tax %1627252527262526
Net Profit9.081415255.798.87598.25
EPS in Rs8.421313224.838.06547.39
Diluted EPS in Rs27278.07547.39

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1623666621,6181,619
Expenses1503375851,4351,447
Material Cost4811,336
Change in Inventories-4.22-83
Purchases of Stock-in-Trade3551
Employee Cost2344
Other Expenses5488
Operating Profit112877183172
OPM %78121111
Other Income32346
Exceptional items (within Other Income)0.39
Interest610133138
Depreciation58.46102531
Profit before tax41256131109
Tax %30242525
Net Profit38.73429882
EPS in Rs2.718.73388974
Diluted EPS in Rs4489
Dividend Payout %0511

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
—
5 years
—
3 years
115%
TTM
107%

Compounded profit growth

10 years
—
5 years
—
3 years
228%
TTM
29%

Stock price CAGR

10 years
—
5 years
76%
3 years
15%
1 year
-61%

Return on equity

10 years
—
5 years
—
3 years
41%
Last year
47%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2023Mar 2024Mar 2025Mar 2026
Equity Capital81111
Reserves38147242
Borrowings96174339
Other Liabilities70167590
Minority Interest3.13
Total Liabilities2124981,181
Fixed Assets54134338
CWIP0311
Investments1420
Other Assets143360833
Total Assets2124981,181

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2-40201
Cash from Investing Activity-21-58-225
Cash from Financing Activity2011189
Net Cash Flow01264
Free Cash Flow-6-1077.48

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2023Mar 2024Mar 2025Mar 2026
Debtor Days476380
Inventory Days81
Days Payable128
Cash Conversion Cycle476380
Working Capital Days23487
ROCE %2935

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters437171717171666666666666
FIIs0000000.030.010.090.250.130.07
DIIs000001.100.890.791.020.980.810.51
Public572929292928333333333333
No. of Shareholders2453083035679171,4022,2692,9173,0075,4277,02710,382

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -60.5% (₹1,629.60 → ₹643.65)Brick size ₹33.96 (fixed)Bricks 113
₹1,000₹1,500₹644Nov '25Jan '26Mar '26May '26Jul '26Sep '26
Price moved up one brickPrice moved down one brickLast close ₹643.65 on 9 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

216inr_cr

2026-03-31

order book, Rs crore

3,400inr_cr

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

15.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

News

News and filings about Solex Energy Limited. Open one to see why it matters.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • Aluminium extrusion frames
  • Backsheet (polymer composite)
  • Copper interconnect ribbons / busbars
  • EVA / POE encapsulant film
  • Junction boxes
  • Silver paste (metallization)
  • Solar PV cells (Mono-PERC / N-Type TOPCon / HJT)
  • Solar glass (tempered, low-iron)

Depends on the price of

  • aluminium
  • copper
  • silver

Sells to

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Capital Goods
Industry
Other Electrical Equipment
Classification
Capital Goods › Other Electrical Equipment
ISIN
INE880Y01017

Plants

  • Solex Anand Manufacturing Unit
  • Solex Tadkeshwar Global Giga Factory

News impact

Big market events that reach Solex Energy Limited, and how the effect spreads.

No recent market events reach this company.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

15 Sep 2026unspecified₹0.55

Splits, bonuses & buybacks

  • daily-prices repair: 5 rows from NSE's archive (replace 0, delete 0, insert 5), 2023-11-12..2026-02-01 (docs/flat_day_repair.md)1× · 12 Nov 2023

Bulk & block deals

DateWhoBought / soldSharesPrice
23 Sep 2026KAMALKISHORE BANSILAL CHANDAKSELL60,450₹750.18

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.