Solex Energy, a Gujarat based solar manufacturer and EPC solutions provider, has reported a revenue growth of 51.6% year-on-year to INR 4,157 million in the first half of FY26. EBITDA increased by 131% YoY to INR 609 million, with the EBITDA margin expanding by 503 basis points to 14.7%. The company said its profit after tax (PAT) also surged 133.2% YoY to INR 305 million, and the PAT margin improved by 257 basis points to 7.3%, reflecting strong operational performance and enhanced cost efficiencies.
Revenue during Q2 FY26 stood at INR 1,546 million, up by 16.5% YoY. PAT for Q2 was down 36.3% YoY to INR 58 million.
Chetan Shah, chairman and managing director of Solex Energy, said the robust performance in H1 FY26 reflects the fundamental strength of the company’s operating model and disciplined execution strategy.
“Despite sector-wide challenges arising from an extended monsoon period, we continued to deliver healthy growth, supported by strong demand from marquee IPPs and C&I customers, steady capacity utilization, and our focus on operational excellence. We also maintained the margin trajectory we had guided earlier, with both EBITDA and PAT margins expanding meaningfully year-on-year, driven by economies of scale and improved cost efficiencies,” said Shah. “The commissioning of Line 3 and 4 positions us well for the second half of the year, enabling us to operate at our full installed module capacity. Coupled with a healthy and diversified order book, this provides clear visibility toward achieving our full-year performance goals. On the strategic front, we continue to make timely progress on our solar cell manufacturing initiative, including technology partnerships, land acquisition and funding preparations.”
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