Solex Energy Ltd, an Indian solar module manufacturer and EPC service provider, has reported total revenue of INR 16.21 billion for FY26, marking a 143.9% year-on-year increase.
The company reported EBITDA of INR 1.87 billion for FY26, up 134.6% year on year, while profit after tax (PAT) rose 132.7% to INR 983 million. EBITDA margin stood at 11.5%, compared to 12.0% in the previous fiscal year.
For the fourth quarter of FY26, Solex Energy posted revenue of INR 8.86 billion, an increase of 247.6% from the corresponding quarter last year. Quarterly EBITDA rose 246.1% to INR 986 million, while PAT increased 289.4% to INR 589 million.
“Solex Energy has delivered a standout performance in FY26, reinforcing its position as one of India’s fastest-growing integrated solar energy companies,” said Chetan Shah, chairman and managing director of Solex Energy. “The year highlights Solex’s successful transition from a manufacturing-focused organization to a fully integrated clean energy enterprise with global ambitions. Our strategic investments in advanced technologies such as TOPCon modules, coupled with ALMM certification, place the company in a strong position to capitalize on the accelerating demand for high-efficiency solar solutions both domestically and internationally.”
Solex has signed a INR 40 billion MoU with the Government of Gujarat to set up 5W solar cell and 10 GW battery energy storage system (BESS) manufacturing facilities in a phased manner. The investment will not only strengthen supply chain control but also enhance the company’s competitiveness in a rapidly evolving energy landscape.
Under its Vision 2030 roadmap, the company plans $1.5 billion investment in a fully integrated solar ecosystem including 10 GW modules, 10 GW cells, 10 GW BESS, and 2 GW wafer/ingot capacity.
Solex Energy order book exceeded INR 34 billion at the end of FY26.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.