Solar Energy stock engaged in manufacturing solar photovoltaic modules, providing turnkey solar solutions, and many more hit a 10 percent upper circuit in the day’s trade upon declaring a 103 percent YTD jump in Revenue and a glimpse of future capex plans.
Price Action
With a market capitalization of Rs. 1,550 Crores, the shares of Solex Energy Limited hit a 10 percent upper circuit at Rs. 1,441.95 per equity share, from its previous day’s close price of Rs. 1,310.90.
What Happened
Solex Energy Limited a new emerging player in the solar industry has announced that it has achieved an outstanding financial performance for the year-to-date with a consolidated revenue of Rs. 408 Crores reflecting an impressive growth of 103 percent driven by robust performance across all business vertices.
Further, it has been said that the solar module business is expected to play a key role from the fourth quarter of FY 2024-25, with the new 800 MW solar module production line to start commercial production in January 2025, thereby increasing its manufacturing capacity to 1.5 MW.
Followed by an additional 2.5 GW production capacity to be added by June 2025 leading to a total capacity of 4 GW which will significantly boost the company’s revenue and profitability from FY26 onwards.
About the Company
Solex Energy Limited is engaged in the manufacturing of solar photovoltaic modules and providing turnkey solar solutions across different segments, such as solar power plants, solar water pumps, utility-scale ground-mounted solar power plants, and many others.
It has a strong clientele base with well-known players like Indian Oil Corporation Limited, Torrent Power, Oil & Natural Gas Limited, Amul, Taj, Indian Post, Indian Institute of Management, NPCIL, and many others.
Solex Energy Limited has announced investments exceeding Rs. 8,000 Crores as part of its Vision 2030 strategy for advancing toward solar technology and scaling operations, positioning the company as a fully integrated solar player.
Financials and Ratios
Its revenue from operations grew by 194 percent from Rs. 93 Crores in H1FY24 to Rs. 273 Crores in H1FY25, accompanied by profits of Rs. 1 Crores to Rs. 13 Crores.
In terms of Return ratios, it has delivered a return on equity(ROE) of 15.97 percent and a return on capital employed (ROCE) of 18.48 percent. It has maintained a debt-to-equity ratio of 0.56.
Written by: Bharath K.S
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