What we do Solex Energy Ltd is a Gujarat-based solar photovoltaic module manufacturer, providing advanced Mono-PERC, TopCon, and HJT modules plus comprehensive solar EPC and maintenance services. |
Founded in 2,014 |
Market share Leading player with 1.5 GW production capacity, serving international and domestic markets, showcasing steady growth and innovation. |
Problem solved Addresses renewable energy needs by supplying efficient, reliable solar modules and integrated energy solutions for sustainable power generation. |
Top clients or who we serve Global clients like JINKO (China), AXITEC (Germany), African partners and notable Indian enterprises such as AMUL, IIM-A, ONGC; B2B focus. |
Key management Dr. Chetan Shah, Chairman & Managing Director; experienced leadership driving technology and market expansion. |
Our journey and innovations Founded in 2014, went public in 2018, expanded capacity to 1.5 GW with Industry 4.0 automated plants; launched global Solax brand; achieved key international certifications. |
Where we operate Primarily India with exports to China, Germany, Africa, UK, Europe, and UAE markets. |
Top products or what we offer Solar PV Modules (3 WP-750 WP Mono & Bi-facial), Solar Lanterns, Home & Street Lights, Solar Pumps, Rooftop & Ground Power Plants, Solar Water Heating Systems. |
Top brands Solax Solar Modules - high efficiency, industry-certified, global reach; EPC services including rooftop and ground-mounted installations. |
Raw materials needed Silicon wafers, semiconductor materials, electronic components for photovoltaic cells and modules. |
Raw materials supplier Not specified; likely sourced globally from specialized suppliers of solar-grade silicon and components. |
Recurring vs cyclical contribution Mix of recurring revenues from EPC and O&M services and cyclical sales from module manufacturing tied to solar project cycles. |
Our industry position ISO, TUV, UL, BIS certified manufacturer with a strong domestic and international presence and expanding capacity. |
Financial highlights FY 2024-25 consolidated revenue ₹665.82 crore, PAT ₹42.79 crore; 81% revenue growth YoY; EBITDA ₹76.71 crore, up 151%. |
Geographical revenue split Mainly Indian market with exports to Europe, Middle East, Africa, and China. |
Order book - |
Whats driving growth Rising solar energy demand, government subsidies, global shift to renewables, innovation in module technology, and export expansion. |
Our future plans Increasing production capacity to 1.5 GW+, expanding global market footprint, ramping up R&D in advanced solar technologies, and strengthening EPC services. |
Our green promise ISO 14001 certified; committed to sustainability with environment-friendly manufacturing and renewable energy products. |
Our people and values Diverse workforce with strong governance; active CSR supporting road safety initiatives; inclusive policies and compliance culture. |
Key challenges ahead Raw material price volatility, intense competition, regulatory changes, supply chain risks but mitigated by quality certification and global partnerships. |
Interesting facts First PV module maker in India with MCS 005 BSI Kitemark, producing 65,000+ modules monthly with Industry 4.0 automation. |
Risks and strategy Mitigates financial and operational risks through rigorous audit, diversified client base, strong internal controls, and continuous innovation. |
