Solex Energy Share Price

Solex Energy Limited is a leading manufacturer of solar photovoltaic (PV) modules in India, primarily engaged in the production and supply of high-efficiency solar panels and turnkey solar solutions. The company supplies solar PV modules using advanced MONO PERC and TOP-Con technology, solar home lighting systems, solar street lights, solar water pumps, and engineering, procurement, and construction (EPC) services for solar power plants. Solex Energy operates a state-of-the-art manufacturing facility in Tadkeshwar, Gujarat, with a production capacity of 1.5 GW, making it one of India’s oldest and most trusted solar panel manufacturers. The Solex Energy share price on the NSE and BSE is a reflection of how market participants respond to a performance and broader business developments within its industry. It captures the company’s sentiment of the investors based on financial results, operational updates, macroeconomic factors, and trends specific to sectors. Movements in the share price͏ reveal how the market evaluates the company’s current position and its future prospects, making ͏it a key indicator of market perception across various industries.

Market sentiment around the Solex Energy stock price often mirrors shifts in solar energy adoption patterns, demand from utility-scale and rooftop projects, and investor views on the renewable energy sector’s growth prospects. Factors such as the pace of capacity expansion, competitive intensity from other solar module manufacturers, raw material price fluctuations (polysilicon, solar cells), and government policies on domestic manufacturing through the Approved List of Models and Manufacturers (ALMM) influence near-term market valuation and medium-term earnings forecasts. All these factors must be closely monitored to have an idea about the Solex Energy stock price movements.

Solex Energy live share price provides real-time information about the last price traded, bid price, ask price, and volume traded. These indicators represent trading activity and liquidity and the reaction of investors to corporate announcements, quarterly results, and sector news. Constant monitoring of Solex Energy live price helps observe short-term price fluctuations and understand how the stock is moving in relation to the broader market.

Furthermore, monitoring the Solex Energy share price today helps investors understand real-time market sentiment, price volatility, and trading behaviour. It allows market participants to evaluate short-term performance, identify possible entry or exit points, and respond to news, quarterly results or sector trends that may affect the company’s valuation and overall investment outlook.

Solex Energy Limited Company Fundamentals

a. Company Background

Solex Energy Limited was incorporated in 2014. The company’s registered office is located in Surat, Gujarat. The company was originally incorporated on October 13, 2014 as Solex Energy Private Limited. Further, the company was converted into a public limited company and the name was changed from Solex Energy Private Limited to Solex Energy Limited on September 22, 2017. The company was founded by Mr. Kalpeshkumar Ramanbhai Patel, who has over 24 years of experience in the renewable energy industry. Solex Energy’s primary activity involves the manufacturing of solar photovoltaic (PV) modules and providing turnkey solar solutions. It initially focused on building a strong foothold in the domestic solar module market before gradually expanding its product portfolio and manufacturing capacity. The company supplies solar PV modules using advanced MONO PERC and TOP-Con technology, offering a diverse product range including Monofacial and Bi-facial modules across various power capacities. Over the years, Solex Energy has significantly expanded its manufacturing footprint, with its factory in Tadkeshwar, Gujarat having a production capacity of 1.5 GW. It operates in a competitive environment, with pricing and production governed by market forces and client requirements. The company has consistently focused on enhancing its technological capabilities to meet the growing demand for solar energy solutions in India and globally.

b. Product Lines

• Solar Photovoltaic (PV) Modules: Monofacial and Bi-facial modules using MONO PERC and TOP-Con technology across various power capacities (3WP – 325 WP)

• Solar Home Light Systems (CFL and LED base) for rural and off-grid electrification

• Solar Street Light Systems (CFL and LED base) for public and private lighting applications

• Solar Lanterns (CFL and LED base) for portable lighting needs

• Solar Off-Grid Power Plants (Solar Rooftop Systems) for residential and commercial applications

• Solar Grid Connected Power Plants for utility-scale power generation

• Solar Water Heater Flat Plant Collector and ETC Type for water heating applications

• Solar Submersible Pumps (AC and DC) and Solar Surface Pumps for agricultural and industrial water pumping

• Solar Power Pack for backup power applications

• Engineering, Procurement, and Construction (EPC) services for residential rooftop, commercial, industrial, and utility-scale solar power plants

• Solar Charging Stations and Solar Car Port for electric vehicle charging infrastructure

c. Company Revenue Model

• Primary revenue from manufacturing and sale of solar photovoltaic (PV) modules to domestic and international customers

• Revenue from turnkey EPC contracts for solar power plants across residential rooftop, commercial, industrial, and utility-scale segments

• Volume-driven revenue based on quantity of solar modules produced and sold across diverse customer segments

• Pricing determined by raw material costs (polysilicon, solar cells), module efficiency, and global market demand

• Revenue from export of solar modules to international markets

• Revenue from solar water pumping systems for agricultural applications

• Expanding manufacturing capacity contributing to new revenue streams through higher production volumes

• Focus on increasing value-added product share including high-efficiency TOP-Con and N-Type modules to drive better margins

• Investment in new manufacturing technologies to enhance production capacity and module efficiency

• Revenue from both domestic Indian market and exports

• Seasonal variations in solar project installations affecting revenue patterns

• Government policies on solar energy and ALMM requirements influencing revenue stability

d. Geographic Presence

• Headquartered in Surat, Gujarat with registered office at 8th Floor, 801-812, Rio Empire, Opp. R.T.O Pal, Adajan Dn, Surat City, Gujarat – 395009

• Manufacturing facility located in Tadkeshwar, Gujarat with 1.5 GW production capacity for PV modules

• Strong domestic market presence across India serving customers in Gujarat, Maharashtra, Tamil Nadu, Uttar Pradesh, Rajasthan, and other states

• Export presence to international markets

• Focus on expanding into new geographical areas across India through increased distribution network and project wins

• Strategic expansion through capacity addition at existing manufacturing facility

• Operations primarily concentrated in western India with manufacturing based in Gujarat

e. Key Milestones

• 2014: Incorporated as Solex Energy Private Limited on October 13, 2014

• 2017: Converted to a public limited company and renamed to Solex Energy Limited on September 22, 2017

• 2018: Launched Initial Public Offering (IPO) on January 22, 2018, raising ₹7.18 crore, and listed on NSE SME platform on February 5, 2018

• 2022: Launched Global Factory with 1.2 GW Solar Module manufacturing capacity with in-house reliability test lab

• 2023: Launched Solax Brand high efficiency Solar Module globally

• 2025: Reported a 390% jump in net profit to ₹42.79 crore in FY2024-25, driven by higher revenues and strong demand for solar modules

f. Industry Perspective

Solex Energy Limited operates in the solar energy industry, which is part of India’s renewable energy sector. Globally, the solar power market continues to expand rapidly. In India, the solar energy sector is poised for explosive growth. According to BloombergNEF (BNEF), India is projected to become the world’s second-largest solar market in 2026, overtaking the United States, as domestic solar capacity additions continue to rise. BNEF estimates that India will add just over 50 GW of solar capacity in 2026, marking a 6 percent increase from the previous year. The growth will be driven largely by utility-scale solar projects, while government subsidies are expected to sustain demand in the residential rooftop segment. According to Technavio, the India solar power market size is valued to increase by USD 1,413.3 billion, at a CAGR of 49.5% from 2025 to 2030. According to Vynz Research, the India solar energy market was valued at approximately USD 12.55 billion in 2025 and is projected to reach around USD 69.68 billion in 2035, expanding at a CAGR of about 18.7% during the forecast period 2026 to 2035. India’s annual solar PV installations are expected to reach 50 GW during 2026-2030, with domestic PV module capacity reaching 144 GW. The government’s focus on domestic manufacturing through the Approved List of Models and Manufacturers (ALMM) has accelerated investment across the solar supply chain. Key challenges include overcapacity concerns, reliance on imports for upstream components such as wafers and cells, and grid infrastructure upgrades.

Solex Energy Limited Stock Market Presence: Listings & Index Representation

Solex Energy is actively traded on India’s principal equity market, with its shares listed on the National Stock Exchange of India (NSE) under the symbol SOLEX. The company was listed on the NSE SME platform (NSE EMERGE) on February 5, 2018 through a public issue of 13,80,000 equity shares at a price of ₹52 per share. The company is not currently listed on the Bombay Stock Exchange (BSE) mainboard. Its listing on the NSE ensures that the Solex Energy price is accessible to a wide investor base, encompassing both retail and institutional market participants. The company forms part of the NSE SME platform indices. Being represented in indices enhances the visibility and liquidity of the Solex Energy price, as index tracking funds and exchange traded strategies often adjust allocations in line with constituent revisions. It also allows investors to benchmark the company’s stock performance relative to broader market trends and peer groups, facilitating cross sectional comparisons within India’s solar energy landscape. The inclusion of Solex Energy in these indices reflects its market capitalisation and trading depth, which are key factors market participants consider when evaluating long term investment prospects and the responsiveness of the Solex Energy price to corporate and industry developments. The company’s ISIN code is INE880Y01017 and face value is ₹10 per share.

Solex Energy Limited Stock Performance and Share Price History

The Solex Energy price has exhibited significant volatility since its listing in February 2018, shaped by the company’s operations in India’s solar energy sector and broader renewable energy industry cycles. The Solex Energy share price recorded a total return of approximately 46.0% over the last 1 year and 40.0% over the last 3 years, significantly outperforming the BSE Small Cap index’s -6.6% and 12.9% returns respectively over the same periods, reflecting strong growth momentum. The Solex Energy share price delivered a 5-year total return of 103.2%, demonstrating substantial long-term wealth creation. The Solex Energy share price reached a 52-week high of ₹1,985.00 and a 52-week low of ₹630.90, indicating a wide trading range and substantial price fluctuations. The Solex Energy share price recorded a remarkable rally in 2024, delivering a substantial positive annual return of 307.1%, while the subsequent period has seen the Solex Energy price moderate and correct from its peak levels. The Solex Energy share price has shown a 1-month return of approximately 6.8% and a 3-month return of -25.8% as of March 2026, indicating mixed short-term momentum.

The Solex Energy price has been particularly responsive to quarterly earnings releases and corporate announcements. When the company reported a 390% jump in net profit to ₹42.79 crore in FY2024-25 with consolidated revenues reaching ₹665.82 crore, the Solex Energy price showed a positive reaction. The Solex Energy price has shown a pattern of strong positive momentum in years when the company’s capacity expansion announcements exceeded expectations, while periods of earnings moderation or concerns over raw material costs have contributed to consolidation in the Solex Energy price. Corporate developments, including strategic announcements such as the launch of new high-efficiency solar products (Tapi R and Tapi Series), the expansion of manufacturing capacity to 1.5 GW, and the company’s growing order book, have also influenced short-term fluctuations in the Solex Energy price. The Solex Energy share price has shown a 1-year return of approximately 46.0% as of March 2026, reflecting strong growth over the last year. The Solex Energy share price has shown a 10-year aggregate net profit of ₹70.76 crore, reflecting the company’s improving profitability over the long term. The Solex Energy share price reached its 52-week high of ₹1,985.00 on November 21, 2025 before declining to its 52-week low of ₹630.90 on April 16, 2025, reflecting the volatility inherent in the solar energy space. The Solex Energy share price has shown a year-to-date return of approximately -25.6% as of March 2026, indicating pressure in the current fiscal year. Comprehending these patterns in the Solex Energy price is instrumental for investors seeking to contextualise long term performance trends vis à vis short term price dynamics, as the Solex Energy stock price movements illustrate how industry fundamentals, raw material price cycles, and investor expectations converge in market pricing.

The Solex Energy price has shown distinct seasonal patterns over the past decade. The best performing year historically was 2024 with a positive return of 307.1%, while the worst year was 2025 with a negative return of -10.2% according to some sources. Historically, the stock has shown positive annual returns in 6 out of the last 8 years. In terms of annual performance, the Solex Energy share price delivered returns of -13.5% in 2019, 11.6% in 2020, 206.0% in 2021, 276.5% in 2022, 29.3% in 2023, 307.1% in 2024, and -10.2% in 2025. The Solex Energy share price has demonstrated that the stock tends to perform better in periods of strong solar energy demand and supportive government policies, while underperforming during phases of raw material volatility and intense competition. The Solex Energy stock price has shown a 3-year total return of 40.0%, indicating substantial wealth creation over this period. The Solex Energy stock price has shown a 5-year total return of 103.2%, reflecting the company’s ability to deliver exceptional returns across market cycles. The Solex Energy stock price has shown a 10-year total return that has been positive, with the stock delivering strong returns since listing. The Solex Energy stock price continues to trade at a significant discount from its 52-week high of ₹1,985.00, standing at around ₹920-1,300 levels as of April 2026.

Solex Energy Limited Investor Relevance and Role in Portfolio

Solex Energy holds a significant position for portfolio investors who seek exposure to India’s renewable energy sector with a focus on solar module manufacturing. The company’s presence in high-growth areas such as high-efficiency solar modules and EPC services aligns it with investment strategies that value domestic manufacturing, energy security, and the government’s renewable energy targets. The Solex Energy share price often mirrors how these themes resonate with investor portfolios, whereby both thematic and sector specific funds monitor capacity utilization, raw material costs, and order book trends when evaluating allocation decisions.

Institutional stakeholders play a moderate role in Solex Energy’s ownership profile. As of December 2025, Promoters hold 66.15% of the company. Mutual funds hold 0% of the company. Key institutional holders include banks and financial institutions (0.98%) and Foreign Institutional Investors (FIIs) hold 0.25% of the company. Domestic Institutional Investors (DIIs) hold 0.98% of the company. Retail and other shareholders hold 32.63% of the company. These investors represent a blend of domestic and limited international perspectives that contribute to the stock’s market liquidity and visibility within broader investment frameworks.

Based on data, Solex Energy exhibits varying levels of beta and volatility across different measurement periods. Based on data, the long-term beta (1-year) stands at approximately -0.798 according to FT Markets data as of December 2024, indicating that the stock has shown negative correlation with the broader market over an extended period. Based on data, the daily-one month beta shows low correlation, while the daily-three month beta indicates moderate sensitivity. Based on data, the weekly-one year beta shows lower-than-market sensitivity in short-term trading. Based on data, the weekly-two year beta shows low correlation, and the 2 week-two year range beta is also low. Based on data, the monthly-two year beta continues to show moderate correlation. Supporting statistics include mean values across different periods and standard deviations indicating high variability. The stock carries a beta that has shown negative values, indicating unique stock-specific movements not tied to broader market direction. Overall, Solex Energy demonstrates a high volatility profile with beta values suggesting the stock tends to move independently of broader market direction over certain time frames.

The Solex Energy share price has shown periods of heightened responsiveness to sector-specific news and quarterly earnings releases. The Solex Energy stock price’s beta reflects that the company’s manufacturing nature and exposure to government policies may provide some stability, though the solar energy sector remains sensitive to raw material price fluctuations and global trade dynamics.

Solex Energy Limited Sectoral Relevance and Peer Positioning

The sector relevance of Solex Energy is anchored in its role within the broader Indian solar energy and renewable energy equipment industry, where it competes with other solar module manufacturers. As part of this industry, the company’s strategic positioning connects high-efficiency solar PV modules and turnkey solar solutions to utility, commercial, and residential customers across India. Competitors in the solar module manufacturing segment include companies such as Waaree Energies Limited, Vikram Solar Limited, Tata Power Solar Systems Limited, Adani Solar, Premier Solar, Goldi Solar, Renewsys, Saatvik Green Energy, and Rayzon Solar. Firms with parallels in either product range or manufacturing capacity are often referenced when evaluating relative performance and operational positioning within the sector.

In valuation terms, factors like the Solex Energy P/E ratio have shown variations over different periods. The current P/E ratio stands at approximately 23.7x according to Value Research Online as of March 2026, while the industry P/E stands at approximately 22.77x. The P/E ratio was 25.0 as per Way2Wealth data. Periods when investors perceived improvements in profitability or earnings sustainability have corresponded with expansion in valuation multiples, whereas phases of moderation in earnings momentum or industry cyclicality have seen valuation contraction.

Similarly, Solex Energy EPS has shown variation according to how operational performance aligns with industry demand cycles and cost structures. Structural gains from capacity expansion and new product introductions supported directional improvement in earnings per share during favourable conditions, while cyclical headwinds from raw material price volatility and competitive pressures have moderated EPS momentum. Solex Energy earnings have shown a trajectory that responded to both volume growth and margin pressures over the analysed period. Solex Energy market cap has fluctuated in line with investor perceptions of the company’s growth potential in a competitive and evolving solar energy market.

Over years, the Solex Energy market cap has followed a pattern of significant growth followed by moderation. The market cap increased from approximately ₹1,372 crore as of April 2026, down from higher levels in 2024-2025. As of April 2026, the market cap stands at approximately ₹995-1,372 crore across different sources. This fluctuation mirrors the trend in the Solex Energy share price and the broader performance of the renewable energy sector relative to broader market indices.

Solex Energy earnings over the past several years have been characterised by a period of strong growth. Net income increased from ₹8.73 crore in FY2024 to ₹42.79 crore in FY2025, representing a growth of 390%. The company’s revenue grew from ₹368.02 crore in FY2024 to ₹665.82 crore in FY2025, an 81% year-on-year growth. For the trailing twelve months (TTM) as of December 2025, revenue was ₹986.9 crore with net profit of ₹52.98 crore. According to stockanalysis.com, the company’s revenue grew by 81.33% YoY to ₹986.9 crore, with net income growth of 70.11% YoY.

Solex Energy EPS has shown significant variation over the past decade. The diluted EPS stood at ₹43.82 in FY2025, a 301% year-on-year growth. According to historical data, EPS was ₹38.91 in FY2025, ₹10.92 in FY2024, and lower in prior years. The EPS growth rate has shown significant variation, with the company delivering strong profit growth in FY2025. The highest EPS growth rate was achieved in FY2025, while the lowest was during periods of margin pressure.

The Solex Energy P/E ratio has shown fluctuations over the available period. At the end of recent fiscal years, the P/E ratio varied, with current levels at 23.7x across different sources, while the industry P/E stands at approximately 22.77x. The mean historical P/E ratio over the last five years has been in the range of 15-30x. The current P/E ratio compared to the historical average reflects that investor expectations are adjusting to near-term earnings momentum. The Solex Energy share price has been influenced by these valuation metrics. The Solex Energy stock price continues to be evaluated in the context of its earnings potential and market position.

Summary

Solex Energy Limited is a leading solar PV module manufacturer listed on the NSE, where the Solex Energy share price reflects solar energy demand trends, capacity expansion, and renewable energy industry growth. Its representation on stock exchanges supports market visibility, while investor interest is shaped by earnings trends, valuation narratives, and broader solar energy industry themes. Within the sector, the company’s competitive context and earnings dynamics provide key perspectives on its role in India’s solar energy market.