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Solex Energy Ltd

Q1 FY27Electrical Equipment

Solex Energy Q1 FY27 earnings call: Revenue & Margins

Q1 FY27 earnings call: what management said on revenue, margins and capex.

Price₹781
Market cap₹998 Cr
P/E11.3
Updated26 Aug 2026
Read5 min read

What the Q1 FY27 call signalled

3 of 5 strong

RevenueModerate growth
MarginMargins steady
CapexCapex planned
FundraiseFundraise planned
Order bookOrder book rising

The short version

Solex Energy expects an H2-weighted revenue execution, with significantly higher sales and shipments in the second half of the fiscal year due to seasonal and climatic factors. Solex Energy expects revenue and earnings to be H2 weighted, with stronger execution and module dispatch in the second half of the fiscal year.

From Solex Energy Ltd's Q1 FY27 earnings-call transcript · updated 26 Aug 2026.

Revenue & Sales Performance

Moderate growth
  • Solex Energy expects an H2-weighted revenue execution, with significantly higher sales and shipments in the second half of the fiscal year due to seasonal and climatic factors.
  • FY27 guidance is conservative with around 55% module capacity utilization despite expansion, reflecting cautious volume growth assumptions.
  • The industry is fast-growing but faces challenges like grid instability and policy shifts; the company advises patience and confidence in growth trajectory.
  • Expansion plans include a 5 GW cell manufacturing facility (in two phases: 2.2 GW and 3 GW) expected to boost future capacity and sales post-2028.
  • The company foresees growth primarily from large IPP customers and utility-scale projects, with limited focus on retail/distribution channels presently.

2 more points from Solex Energy Ltd's call on revenue

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Profitability & Margins

See what Solex Energy Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned
  • Solex Energy's immediate capex plan is INR1,050 crore focused on a 2.2 GW solar cell manufacturing line, part of a larger 5 GW cell capacity planned in two phases (2.2 GW and 3 GW) on a single site.
  • Funding includes approximately INR700 crore debt and INR350 crore equity, structured as a mix of NCDs and CCDs.
  • No immediate additional module capacity expansion planned; an earlier proposed INR200 crore module line capex was reduced due to expected sufficient market module capacity.
  • Long-term Vision 2030 includes building 10 GW module capacity, 10 GW cell capacity, 10 GW BESS infrastructure, and 2 GW wafer and ingot capacity, aligned with India's Atmanirbhar Bharat initiative.
  • BESS manufacturing expansion of 10 GW (in two phases of 5+5 GW) is in evaluation with technology partners and will be set up in a separate subsidiary.

2 more points from Solex Energy Ltd's call on capex

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Top-ranked in Electrical Equipment

Ranked on what management guided this quarter

Guidance-ranked
1Waaree Energies Ltd
Rev 1Mar 1
2GP Eco Solutions
Rev 1Mar 1
3
Rev 1Mar 2
4
Rev 1Mar 2
5
Rev 1Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

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Order Book & Pipeline

Order book rising
  • Current order book stands at approximately INR 3,400 crore.
  • This includes confirmed purchase orders with deliveries underway, signed MSAs (Master Service Agreements) awaiting formal PO, and MSAs at advanced discussion stages.
  • Confirmed POs for execution till December stand around INR 800-900 crore.
  • There is ongoing inquiry pipeline with repetitive and new orders, including an inquiry of about 2 GW with commitments of approximately 400 MW for this financial year.
  • Single largest closed order is INR 600+ crore; the second largest INR 175 crore (pending signing).

2 more points from Solex Energy Ltd's call on order book

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Solex Energy Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Q1 FY27 figures are not in this chart yet. Latest shown: Mar 2026 (Q4 FY26). The Q1 FY27 numbers from the filing are in the analysis on this page.

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹839 Cr, net profit ₹55 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Solex Energy's management said in earlier quarters

Others in Electrical Equipment this season

  • S & S Power Switchgear Ltd (Q1 FY27)

    Q1 FY 27 Revenue: ₹7,165 lakhs, up from ₹6,041 lakhs in Q1 FY 26, representing an 18% year-on-year increase. Key investor presentation takeaways from S & S Powe

  • Artemis Electri. (Q1 FY27)

    Quarterly Revenue from Operations (Q1 FY2027): ₹1,975.47 Lakhs . Key investor presentation takeaways from Artemis Electricals & Projects's Q1 FY27 investor pres

  • RMC Switchgears (Q1 FY27)

    Consolidated revenue from operations for Q1 FY27 was ₹37.24 crore, down 55.95% YoY from ₹84.53 crore in Q1 FY26 (Page 44). Key investor presentation takeaways f

  • KP Green Engg. (Q1 FY27)

    KPI Green Energy Q1 FY27: 27.9 Cr. Key investor presentation takeaways from KP Green Engineering Ltd's Q1 FY27 investor presentation — and how it ranks against

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Frequently Asked Questions

What were Solex Energy Ltd Q1 FY27 results?

Solex Energy expects an H2-weighted revenue execution, with significantly higher sales and shipments in the second half of the fiscal year due to seasonal and climatic factors. Solex Energy expects revenue and earnings to be H2 weighted, with stronger execution and module dispatch in the second half of the fiscal year.

What is Solex Energy Ltd share price analysis?

Solex Energy Ltd currently shows a below-average growth signal. The stock trades at a P/E of 11.3 with a market cap of ₹998 Cr. Investors should review the full earnings analysis for detailed insights.

Is Solex Energy Ltd planning capital expenditure?

Solex Energy's immediate capex plan is INR1,050 crore focused on a 2.2 GW solar cell manufacturing line, part of a larger 5 GW cell capacity planned in two phases (2.2 GW and 3 GW) on a single site.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.