Solex Energy Ltd
Solex Energy Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Solex is on track to achieve around Rs. Revenue Growth: Expectation to achieve Rs.
From Solex Energy Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Solex is on track to achieve around Rs. 2,000 - 2,200 crore revenue for FY26, primarily from the ramp-up of Line-3 and Line-4 (4 GW capacity) operational from October end.
- H2 FY26 is expected to see higher capacity utilization and stronger sales, recovering from delayed deliveries due to an extended monsoon.
- The company anticipates surpassing past turnover levels with increased scale of operations and expects EBITDA margins of 16-18% in H2 FY26.
- New cell line production (2.2 GW N-Type TOPCon Plus) is targeted for commissioning by March 2027, which will further drive growth.
- An incremental 2.5 GW module capacity is planned, with options being explored for location, expected online by end of H1 FY27.
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Profitability & Margins
See what Solex Energy Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Solex Energy is undertaking a total CapEx of Rs. 1,500 crore:
- Rs. 1,100 crore for setting up a 2.2 GW N-Type TOPCon Plus solar cell manufacturing facility targeting commissioning by March 2027.
- Rs. 200 crore proposed for additional 2.5 GW module capacity.
- Rs. 100 crore for working capital.
- Land for the cell manufacturing project has been identified; power and water infrastructure discussions are at advanced stages.
- Funding for these investments is in advanced discussions with financial institutions, with expected bank debt of Rs. 1,000 crore and Rs. 500 crore to be raised via equity (QIP).
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Top-ranked in Electrical Equipment
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Solex Energy Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current order book stands at over Rs. 4,000 crores, inclusive of Rs. 100 crores from EPC orders (as of September 30, 2025).
- Order book execution timeline spans FY ‘26 and FY ‘27, with certain orders to be delivered by March 31, 2026, and others in FY ‘27.
- Order book comprises three stages:
- Confirmed Purchase Orders (POs) received.
- Master Sales Agreements (MSA) signed, awaiting POs.
- Finalization of MSAs underway.
- Work-in-progress (WIP) orders amount to approximately Rs. 1,300 crores, scheduled for delivery by March 31, 2026.
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Solex Energy Ltd — Quarterly revenue & net profit
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 Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Solex Energy Ltd Q2 FY26 results?
Solex is on track to achieve around Rs. Revenue Growth: Expectation to achieve Rs.
What is Solex Energy Ltd share price analysis?
Solex Energy Ltd currently shows a neutral. 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 is undertaking a total CapEx of Rs.
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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.