Solex Energy Ltd
Solex Energy Q3 FY26 Results & Concall Highlights
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Solex Energy aims to achieve revenue of INR 1,700 to 1,800 crores by the end of FY '26. Solex Energy is targeting revenue in the range of INR 1,700 to 1,800 crores for FY '26, with strong order inflows and capacity ramp-up.
From Solex Energy Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Solex Energy aims to achieve revenue of INR 1,700 to 1,800 crores by the end of FY '26.
- Revenue growth is supported by strong order inflows and improved execution momentum.
- Operating leverage from the ramp-up of new manufacturing lines is expected to normalize margins in Q4 FY '26.
- The company plans to increase module manufacturing capacity from 4 GW to 10 GW by 2030.
- A 2.2 GW N-type TOPCon Plus solar cell production line is targeted to start commercial operations by FY '27.
- Upstream capabilities including 10 GW of solar cell manufacturing and 2 GW of ingot and wafer production are planned by 2030.
- Expansion into Battery Energy Storage Systems (BESS) manufacturing is being explored to tap into emerging market opportunities starting late FY '27, expected to peak around 2028.
- Strong policy support in India for solar schemes like PM Surya Ghar and PM KUSUM enhances long-term demand visibility.
Profitability & Margins
See what Solex Energy Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Solex Energy is planning to establish a 2.2-gigawatt N-type TOPCon Plus solar cell production line targeting commercial operations by FY '27 (2027).
- The company aims to increase total module capacity from the current 4 gigawatts to 10 gigawatts by 2030.
- Plans include developing upstream capability with 10 gigawatts of solar cell manufacturing and 2 gigawatts of ingot and wafer production in the coming years.
- The cell line project is on track, with land acquisition nearing closure after overcoming regulatory clearances.
- The company is exploring funding options for the cell line with expected term sheets in the range of INR 300 to 400 crores.
- Solex is also exploring strategic investments into Battery Energy Storage System (BESS) manufacturing solutions, targeting entry around late FY '27 to early FY '28, with expected growth through 2028.
- Collaborations with technology partners like ISC Konstanz (Germany) and TT Vision (Malaysia) to accelerate next-gen solar cell technology and automation.
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
- Solex Energy's current order book exceeds INR 4,000 crores, including EPC orders, providing strong execution visibility (Page 3).
- The order book primarily consists of large-scale IPP projects, covering about 80% of orders, with PM Surya Ghar and PM KUSUM schemes contributing roughly 10% (Page 11).
- They have secured significant orders recently, including INR 544 crores from Zelestra Group entities and INR 289 crores from a reputed IPP for N-Type TOPCon modules (Page 3).
- The order book includes close to 1.2 gigawatts of solar modules, with MSAs signed or under discussion, particularly with clients like Longi (Page 11).
- Some orders may require renegotiation due to raw material price inflation, with certain projects reviewing feasibility and financing (Page 8).
- Inventory build-up largely results from site readiness delays on the customer side, not cancellations (Page 9).
Solex Energy Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹839 Cr, net profit ₹55 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
Full financials →Continue your research
What Solex Energy Ltd's management said in earlier quarters
Others in Electrical Equipment this season
- MTAR Technologies Ltd (Q3 FY26)
As of Q3 end FY '26, closing order book stood at INR 2,394 crores. Key concall takeaways from MTAR Technologies Ltd's Q3 FY26 earnings call — and how it ranks…
- TD Power Systems Ltd (Q3 FY26)
Capacity utilization is increasing; ramp-up to INR 550-575 crores per quarter in Q4 FY '26 and around INR 600 crores per quarter from Q1 FY '27 onward. Key…
- Rishabh Instruments Ltd (Q3 FY26)
Focus on new product developments (medium voltage segment) to contribute incremental revenue up to 50% over five years. Key concall takeaways from Rishabh…
- CG Power & Industrial Solutions Ltd (Q3 FY26)
Power Systems segment sales grew sharply by 44% YoY in Q3 FY26, with further margin expansion. Key concall takeaways from CG Power & Ind's Q3 FY26 earnings…
Frequently Asked Questions
What were Solex Energy Ltd Q3 FY26 results?
Solex Energy aims to achieve revenue of INR 1,700 to 1,800 crores by the end of FY '26. Solex Energy is targeting revenue in the range of INR 1,700 to 1,800 crores for FY '26, with strong order inflows and capacity ramp-up.
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 planning to establish a 2.2-gigawatt N-type TOPCon Plus solar cell production line targeting commercial operations by FY '27 (2027). - The company aims to increase total module capacity from the current 4 gigawatts to 10 gigawatts by 2030. - Plans include developing upstream capability with 10 gigawatts of solar cell manufacturing and 2 gigawatts of ingot and wafer production in the coming years. - The cell line project is on track, with land acquisition nearing closure after overcoming regulatory clearances. - The company is exploring funding options for the cell line with expected term sheets in the range of INR 300 to 400 crores. - Solex is also exploring strategic investments into Battery Energy Storage System (BESS) manufacturing solutions, targeting entry around late FY '27 to early FY '28, with expected growth through 2028.
Keep Solex Energy Ltd on your radar — track it to get its next earnings analysis in your feed.
This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.