Solex Energy Limited reported a 143.9% rise in FY26 revenue to ₹16,211 million, driven by strong demand across the solar value chain. Profit after tax reached ₹983 million, while order visibility surpassed ₹34,000 million.

The company outlined an aggressive expansion plan during its 12th Annual General Meeting held on September 22, 2026. Chairman and Managing Director Dr. Chetan Shah announced an investment programme of approximately ₹40,000 million between FY27 and FY30. This capital allocation aims to build 2.2 GW of cell capacity by FY28, scaling to 5.2 GW by early FY29, alongside establishing 5 GWh of Battery Energy Storage Systems (BESS) capacity by FY29.

Strategic expansion and global footprint

The management emphasized a shift from pure module manufacturing to integrated capabilities, including solar cells and energy storage. The move into cell manufacturing is intended to enhance supply chain control and cost efficiency, supported by the Approved List of Models and Manufacturers (ALMM). The BESS initiative addresses the growing need for reliable power delivery beyond generation.

Beyond domestic operations, Solex plans to expand its global presence through entities in Europe and the USA. These initiatives are designed to position the company as a trusted global solar manufacturing brand, leveraging India’s manufacturing talent to serve international customers seeking diversified supply chains.

Financial performance highlights

FY26 marked a significant milestone for the company, with financial metrics reflecting substantial operational scale-up. The following table summarizes key financial figures disclosed during the meeting:

The company targets a revenue potential of more than ₹45,000 million by FY28, contingent on execution of the planned capacity additions.

Shareholder approvals and governance

Shareholders approved several critical resolutions at the virtual meeting, conducted via Video Conferencing. Key approvals included:

• Declaration of a final dividend of ₹0.55 per equity share for FY26.
• Re-appointment of Dr. Chetan Shah as Chairman and Managing Director.
• Increase in borrowing limits under Section 180(1)(c) of the Companies Act, 2013.
• Loans and guarantees to subsidiaries Solex Green Energy Private Limited and Solex New Energy Private Limited.

Voting results indicated strong shareholder support, with the dividend resolution passing with 100% votes in favour. The borrowing limit increase received 92.21% support, while remuneration revisions passed with 91.07% approval.

What the numbers show

The combination of ₹16,211 million revenue and ₹34,000 million order visibility indicates a forward-looking pipeline more than double the current annual revenue run-rate. This high book-to-bill ratio supports the rationale behind the ₹40,000 million capex plan, suggesting that demand visibility is sufficient to justify significant capacity expansion despite the inherent execution risks associated with large-scale infrastructure projects.

Solex Energy will interact with institutional investors and analysts at the Arihant Bharat Connect Conference on Monday, September 28, 2026. The virtual session is scheduled from 3:00 pm to 4:00 pm IST.

The company disclosed this intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The event is organized by Arihant Capital and will be conducted virtually.

Meeting Details

The company stated that no unpublished price sensitive information pertaining to Solex Energy will be shared during the meeting. The schedule remains subject to change due to exigencies on the part of the analysts or the company.