Solex Energy Limited Reports 143.9% FY2026 Revenue Growth, Advances Solar and BESS Manufacturing Expansion Under Vision 2030

Solex Energy Limited reported strong financial growth for the fourth quarter and financial year ended March 31, 2026, driven by expanding solar module manufacturing operations, EPC project execution, and strategic investments in integrated clean energy manufacturing.

The company’s consolidated revenue for FY2026 increased by 143.9% year-on-year to ₹16,211 million, while Q4 FY2026 revenue surged 247.6% year-on-year to ₹8,858 million. EBITDA for FY2026 rose 134.6% to ₹1,867 million, with profit after tax (PAT) increasing 132.7% to ₹983 million during the fiscal year.

Chetan Shah said the company’s FY2026 performance reflects its transition from a solar manufacturing-focused organisation into an integrated clean energy enterprise with growing domestic and international ambitions.

According to the company, investments in advanced TOPCon solar module technologies, ALMM-certified manufacturing capabilities, and operational expansion have positioned Solex Energy to capitalise on rising demand for high-efficiency solar solutions across global markets.

During FY2026, Solex executed more than 200 EPC projects across multiple sectors while maintaining operational efficiency and quality standards. The company also reported improved financial metrics, including operating cash flow of ₹2,007 million, reduction in working capital cycle to approximately 35 days from 61 days in FY2025, and a net debt-to-equity ratio of 0.57:1.

The company highlighted its recently signed ₹40,000 million memorandum of understanding with the Government of Gujarat aimed at expanding backward integration capabilities. The proposed development includes phased plans for 5-GW solar cell manufacturing and 10-GW Battery Energy Storage System (BESS) manufacturing facilities to strengthen supply chain localisation and support India’s renewable energy manufacturing ambitions.

Solex Energy also outlined its Vision 2030 roadmap, which includes a proposed investment of approximately USD 1.5 billion to establish a fully integrated solar manufacturing ecosystem comprising 10-GW solar module capacity, 10-GW solar cell manufacturing, 10-GW BESS production, and 2-GW wafer and ingot manufacturing capacity.

The company stated that its order book currently exceeds ₹34,000 million, supporting long-term growth plans and expansion across domestic and international renewable energy markets.