Key Takeaways

• Solex Energy aims to double its revenue to Rs 4,500 crore by FY28, building on a strong FY26 performance with Rs 1,620 crore in revenue.
• The company plans to invest Rs 4,000 crore from FY27 to FY30 to develop an integrated renewable energy platform, including solar cells and battery storage.
• Expansion includes establishing 2.2 GW of solar cell capacity by FY28 and launching operations in Europe and the USA.

Growth Plans and Revenue Targets

Solex Energy is on track to achieve significant growth, aiming for a revenue of Rs 4,500 crore by FY28, according to Chairman Chetan Shah. The company’s revenue reached Rs 1,620 crore in FY26, with Ebitda at Rs 186.7 crore and a net profit of Rs 98.3 crore. Addressing the company’s 12th Annual General Meeting (AGM), Shah emphasized a strategic focus on disciplined capital deployment and technology investments.

Investment Strategy

The company’s ambitious growth strategy involves an investment of Rs 4,000 crore, propelling its transition from just solar module manufacturing to a comprehensive renewable energy platform that includes solar cells and Battery Energy Storage Systems (BESS). This shift is designed to enhance quality and supply chain resilience, with a stronger foothold in India’s evolving domestic manufacturing sector.

Solex is positioning itself to support this next phase of growth by developing capabilities for 10 GWh of battery pack and container assembly, starting with a first-phase target of 5 GWh by FY29. Shah stated, “The expansion is intended to create a more integrated and resilient business model, with greater control across the value chain and the ability to serve evolving customer requirements.”

Capacity Expansion Plans

The roadmap includes establishing a solar cell capacity of 2.2 GW by FY28, with plans to increase this to 5.2 GW by early FY29. Additionally, the rollout of the initial 5 GWh phase of BESS capacity is targeted for FY29, with further capacity expansion planned thereafter.

International Ventures

In pursuit of global reach, Solex is also pursuing opportunities in international markets with the establishment of Solex Europe and Solex USA, aiming to expand its operations and footprint outside India.

Through these strategic initiatives, Solex Energy is set to enhance its business model and better serve the growing demands of the renewable energy sector while solidifying its place in both domestic and international markets.

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