Incorporated in 1995, Solex Energy Ltd manufactures solar photo-voltaic cells and modules and is also in the Engineering, Procurement and Construction in the solar energy market[1]
Business Overview:[1][2]SEL specializes in renewable energy solutions and manufactures Solar Photovoltaic (PV) Module and solar home lighting systems in India. Its operations include turnkey projects, spanning Residential Rooftop, Commercial, Industrial, and Utility Ventures. Company is engaged in OEM and ODM partnerships with Indian and International entities for module production under their brand names.
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Siemens | 2962.00 | 62.52 | 105482.87 | 0.40 | 485.40 | -7.14 | 5171.20 | 16.02 | 15.83 | 17364.20 | 11.56 | 1687.44 | 484.90 | 8.00 | 7.46 | 0.01 |
| 2. | A B B | 4946.10 | 59.32 | 104811.98 | 0.89 | 409.04 | -7.17 | 3310.72 | 13.69 | 38.65 | 13010.65 | 16.56 | 1766.99 | 408.88 | 14.60 | 16.04 | 0.01 |
| 3. | B H E L | 269.00 | 167.68 | 93667.49 | 0.19 | 374.89 | 253.17 | 7511.80 | 14.09 | 4.87 | 29269.17 | 4.03 | 558.54 | 374.89 | 3.82 | 0.81 | 0.45 |
| 4. | CG Power & Ind | 576.15 | 84.90 | 90736.60 | 0.23 | 284.44 | 29.76 | 2922.79 | 21.14 | 37.48 | 11069.29 | 12.97 | 1068.45 | 286.72 | 12.20 | 14.53 | 0.02 |
| 5. | Siemens Ener.Ind | 2364.80 | 76.55 | 84215.35 | 0.17 | 359.60 | – | 2645.70 | – | 38.52 | 7826.70 | 19.34 | 1100.10 | 359.60 | 19.25 | 13.26 | 0.03 |
| 6. | Hitachi Energy | 16680.00 | 103.68 | 74346.73 | 0.04 | 264.36 | 405.57 | 1832.55 | 17.94 | 19.44 | 6815.40 | 12.60 | 717.23 | 264.36 | 16.23 | 5.77 | 0.02 |
| 7. | GE Vernova T&D | 2741.20 | 76.28 | 70188.47 | 0.18 | 299.48 | 107.08 | 1538.46 | 38.88 | 54.74 | 5094.78 | 23.87 | 919.85 | 299.48 | 33.66 | 14.76 | 0.01 |
| 8. | Solex Energy | 1168.30 | 24.09 | 1262.05 | 0.05 | 25.87 | 97.03 | 397.80 | 45.63 | 28.22 | 784.76 | 12.51 | 52.39 | 25.87 | 6.99 | 11.66 | 1.63 |
| – | Median: 37 Co. | 505.2 | 44.63 | 6312.43 | 0.05 | 46.34 | 41.39 | 482.56 | 25.05 | 28.09 | 1522.91 | 13.99 | 169.5 | 46.34 | 5.7 | 12.29 | 0.14 |
Standalone figures in ₹ crores
| Jun 2025 | Sep 2024 | Sep 2025 | |
|---|---|---|---|
Sales | 249.20 | 131.75 | 148.61 |
Expenses | 211.13 | 117.35 | 133.09 |
Operating Profit | 38.07 | 14.40 | 15.52 |
Other Income | 1.63 | 0.96 | -0.48 |
Profit before tax | 30.03 | 10.85 | 4.72 |
Tax % | 25.14% | 15.85% | 28.18% |
Net Profit | 22.47 | 9.13 | 3.40 |
EPS in Rs | 20.80 | 8.45 | 3.15 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 6 | 46 | 34 | 101 | 149 | 138 | 80 | 72 | 161 | 366 | 660 |
Expenses | 6 | 45 | 32 | 96 | 141 | 131 | 76 | 70 | 150 | 337 | 591 |
Operating Profit | 0 | 1 | 2 | 6 | 8 | 7 | 3 | 2 | 11 | 28 | 69 |
Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 2 | 4 |
Interest | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 6 | 10 | 11 |
Depreciation | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 5 | 8 | 9 |
Profit before tax | 0 | 1 | 1 | 4 | 7 | 6 | 2 | 1 | 4 | 12 | 52 |
Net Profit | 0 | 0 | 1 | 3 | 5 | 4 | 2 | 1 | 3 | 9 | 40 |
EPS in Rs | 1.00 | 2.05 | 3.25 | 5.10 | 8.02 | 7.18 | 2.71 | 0.99 | 2.71 | 8.73 | 36.66 |
Dividend Payout % | 0% | 0% | 0% | 16% | 0% | 6% | 9% | 12% | 0% | 5% | 2% |
Standalone figures in ₹ crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 0.82 | 2 | 2 | 5 | 5 | 5 | 5 | 8 | 8 | 8 | 11 | 11 |
Reserves | 0 | 0 | 1 | 9 | 13 | 17 | 19 | 27 | 30 | 38 | 147 | 170 |
Borrowings | 4 | 4 | 1 | 6 | 6 | 5 | 12 | 19 | 66 | 96 | 148 | 293 |
Other Liabilities | 4 | 9 | 20 | 32 | 47 | 44 | 40 | 18 | 37 | 70 | 162 | 268 |
Total Liabilities | 9 | 15 | 25 | 52 | 71 | 71 | 76 | 73 | 141 | 212 | 467 | 741 |
Fixed Assets | 0 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 55 | 54 | 110 | 135 |
Gross Block | 0.44 | 1.74 | 2.27 | 2.30 | 3.16 | 3.35 | 3.41 | 3.41 | 61.80 | 70.11 | 135.40 | – |
Accumulated Depreciation | 0.00 | 0.00 | 0.66 | 1.32 | 1.90 | 2.22 | 2.48 | 2.72 | 7.25 | 15.71 | 24.94 | – |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 24 | 1 | 0 | 2 | 144 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 14 | 3 | 2 |
Other Assets | 8 | 13 | 23 | 51 | 70 | 70 | 75 | 48 | 85 | 143 | 352 | 461 |
Total Assets | 9 | 15 | 25 | 52 | 71 | 71 | 76 | 73 | 141 | 212 | 467 | 741 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | – | – | 1 | -4 | 5 | 2 | 2 | 4 | -6 | 2 | -49 |
Cash from Investing Activity | – | – | -0 | -3 | -3 | -1 | -1 | -27 | -35 | -21 | -54 |
Cash from Financing Activity | – | – | -0 | 6 | -2 | -2 | -0 | 22 | 41 | 20 | 113 |
Net Cash Flow | – | – | 1 | -1 | 0 | -0 | 1 | -2 | -0 | 0 | 10 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 279 | 75 | 181 | 137 | 136 | 147 | 255 | 105 | 68 | 47 | 62 |
Inventory Days | – | – | – | – | – | – | – | – | – | – | – |
Days Payable | – | – | – | – | – | – | – | – | – | – | – |
Cash Conversion Cycle | 279 | 75 | 181 | 137 | 136 | 147 | 255 | 105 | 68 | 47 | 62 |
Working Capital Days | 43 | 6 | 13 | 77 | 48 | 68 | 122 | 132 | 64 | 23 | 56 |
ROCE % | – | 23% | 37% | 42% | 34% | 29% | 11% | 4% | 12% | 18% | 28% |
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