Solex Energy Ltd. (IN:SOLEX)
:SOLEX
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Solex Energy Ltd.
(SOLEX)
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Rating:66Neutral
Price Target:
₹1,172.00
▼(-18.97% Downside)
Action:Reiterated
Date:05/27/26
The score is driven primarily by strong growth and improving profitability, but is capped by uneven cash-flow conversion and increased leverage. Technically, the stock has a supportive uptrend with neutral momentum. Valuation gets partial support from the ~4.18% dividend yield, while the missing/zero P/E data limits valuation confidence.
Positive Factors
Rapid Revenue Scaling
A very large year-over-year revenue increase demonstrates durable demand capture and execution ability across segments. Sustained top-line scale supports supplier leverage, fixed-cost absorption and strategic investments, improving long-term competitive positioning if growth persists.
Negative Factors
Rising Leverage
Higher leverage reduces financial flexibility in a cyclical, competitive solar supply chain. Elevated debt increases refinancing and interest-rate vulnerability, constraining capacity to withstand demand slowdowns or to opportunistically invest, and raises solvency risk if cash conversion weakens.
Read all positive and negative factors
Positive Factors
Negative Factors
Rapid Revenue Scaling
A very large year-over-year revenue increase demonstrates durable demand capture and execution ability across segments. Sustained top-line scale supports supplier leverage, fixed-cost absorption and strategic investments, improving long-term competitive positioning if growth persists.
Read all positive factors
Solex Energy Ltd. (SOLEX) vs. iShares MSCI India ETF (INDA)
Market Cap
₹11.72B
Dividend Yield0.04%
Average Volume (3M)38.72K
Price to Earnings (P/E)14.0
Beta (1Y)0.46
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees877
SectorEnergy
Sector Strength52
IndustrySolar
Share Statistics
EPS (TTM)19.78
Shares Outstanding10,802,489
10 Day Avg. Volume56,624
30 Day Avg. Volume38,716
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Solex Energy Ltd. Business Overview & Revenue Model
Company Description
Solex Energy Ltd. operates within India, specializing in the production and sale of solar photovoltaic (PV) panels. The company delivers comprehensive, end-to-end solar solutions, encompassing engineering, procurement, and construction (EPC) servi...
How the Company Makes Money
Publicly verifiable, company-specific breakdowns of Solex Energy Ltd.’s revenue model (e.g., exact revenue mix, pricing structure, customer concentration, and named strategic partnerships) are not available in the information provided. Therefore, ...
Solex Energy Ltd. Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
58
Neutral
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.09B | 16.18B | 6.62B | 3.66B | 1.62B | 719.20M |
| Gross Profit | 802.28M | 3.15B | 1.21B | 514.28M | 224.02M | 63.59M |
| EBITDA | 423.36M | 1.87B | 752.09M | 283.76M | 130.40M | 20.02M |
| Net Income | 201.00M | 960.07M | 420.28M | 87.35M | 27.11M | 9.88M |
Balance Sheet | ||||||
| Total Assets | 7.53B | 11.81B | 4.80B | 2.12B | 1.41B | 727.45M |
| Cash, Cash Equivalents and Short-Term Investments | 168.46M | 1.23B | 120.47M | 121.92M | 1.33M | 3.40M |
| Total Debt | 2.93B | 3.39B | 1.47B | 961.60M | 659.41M | 194.24M |
| Total Liabilities | 5.65B | 9.25B | 3.19B | 1.66B | 1.03B | 377.09M |
| Stockholders Equity | 1.86B | 2.53B | 1.61B | 462.42M | 376.27M | 350.36M |
Cash Flow | ||||||
| Free Cash Flow | -1.71B | 71.67M | -1.14B | -60.80M | -413.44M | -202.84M |
| Operating Cash Flow | 449.83M | 2.01B | -474.90M | 17.06M | -61.88M | 38.48M |
| Investing Cash Flow | -2.17B | -2.25B | -537.02M | -212.43M | -348.49M | -272.35M |
| Financing Cash Flow | 1.75B | 888.08M | 1.13B | 195.94M | 407.86M | 217.04M |
Solex Energy Ltd. Technical Analysis
Neutral
1446.30
Price Trends
1233.54
Negative
1101.11
Positive
1278.32
Negative
Market Momentum
-50.90
Positive
44.69
Neutral
40.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SOLEX, the sentiment is Neutral. The current price of 1446.3 is above the 20-day moving average (MA) of 1186.95, above the 50-day MA of 1233.54, and above the 200-day MA of 1278.32, indicating a bearish trend. The MACD of -50.90 indicates Positive momentum. The RSI at 44.69 is Neutral, neither overbought nor oversold. The STOCH value of 40.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:SOLEX.
Solex Energy Ltd. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹45.72B | 15.86 | ― | ― | 82.37% | 90.41% | |
71 Outperform | ₹877.91B | 23.74 | ― | ― | 83.72% | 98.80% | |
66 Neutral | ₹11.72B | 13.99 | ― | 0.04% | ― | ― | |
66 Neutral | ₹473.22B | 31.49 | ― | 0.11% | 20.03% | 60.95% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
56 Neutral | ₹9.72B | 17.51 | ― | 0.47% | 5.70% | 337.96% | |
47 Neutral | ₹49.29B | -16.17 | ― | ― | 19.77% | -479.90% |
* Energy Sector Average
IN:SOLEX
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Solex Energy Ltd. Corporate Events
Solex Energy to Invest ₹4,000 Crore in Gujarat Solar Cell and BESS Manufacturing Hub
May 5, 2026
Solex Energy Limited has signed a landmark Memorandum of Understanding with the Government of Gujarat to develop an integrated renewable energy manufacturing ecosystem in the state, backed by a proposed investment of about ₹4,000 crore. The ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.