Solex Energy share price today

Solex Energy Ltd's share price was ₹584.40 at the close on 4 November 2026. It has been falling for 18 weeks. That is 38.3% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹533 and ₹1,914, and at that close it sat 4% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Solex Energy Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 22 weeks running.

Over the last 8.7 years the share price moved +1,458% while the NIFTY 500 moved +135%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 19 June 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

1. Number of shareholders up 341% in a year

   13,263 shareholders in the September 2026 quarter, against 3,007 a year earlier.

3. Indian funds and insurers (DIIs) cut their stake for 4 quarters in a row

   From 1% to 0.3% of the company by the September 2026 quarter.

For April to June 2026 (the quarter ended 30 June 2026), Solex Energy reported revenue of ₹261 crore, up 0.5% from ₹260 crore a year earlier, and a profit of ₹8.25 crore, down 66.6% from ₹24.7 crore.

Solex Energy results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Solex Energy's management discussed these results on a call held on 28 September 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Solex Energy closed at ₹584.40 on 4 November 2026, down 65.4% from ₹1,689.50 a year earlier (7 November 2025) and up 1,454.3% over five years. Its highest weekly close since February 2018 was ₹1,914.20 on 21 November 2025.

Solex Energy share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

407 weekly closes from 9 February 2018 to 4 November 2026.

4 Nov 2026: Solex Energy closed at ₹584.40, up 8.9% on the week and down 12.9% on the month. 28 Sep 2026: Solex Energy held its results call for April to June 2026. Management guided: Current financial-year revenue goal ₹2,200-2,400 crore, with H2 expected to recover margins and turnover after a sluggish H1.

Earlier

• 15 Sep 2026: ex-date for a dividend of ₹0.55 a share.
• Results for April to June 2026: Revenue up 0.5% and profit down 66.6% on a year earlier.

Solex Energy paid ₹0.55 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.09% at the ₹584.40 close on 4 November 2026. The last was a dividend of ₹0.55 a share, ex-date 15 September 2026.

Solex Energy dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Solex Energy Ltd paid out 1% of its profit as dividends in FY26, and it paid a dividend in 3 of its last 4 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 28 September 2026, Solex Energy's management guided: Current financial-year revenue goal ₹2,200-2,400 crore, with H2 expected to recover margins and turnover after a sluggish H1.

“I believe we will be able to ramp up within 3 months while meeting Chinese standards and the requirements of IPPs.”Vipul Shah, on the call for April to June 2026

What management guided

• Cell-line project cost ₹1,050 crore: ₹350 crore through CCD/NCD and ₹700 crore term debt application.
• First-phase cell line of 2.2 GW planned for approval by December 2027; ramp-up to Chinese and IPP standards expected within 3 months.
• By 2030, vision spans 4 GW modules, 10 GW cells, 5 GW ingot, 2 GW wafer and 10 GW BESS.
• Orders through March described as non-DCR; DCR market planned from April, with approximately 1 GW cell tie-up completed and another 750 MW near finalisation.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 28 September 2026.

When Solex Energy reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Next-quarter revenue run-rate and margin recovery - test whether ALMM delays are clearing into reported turnover.

Solex Energy is on 2 of our India lists: 52 week high & low and Power & green energy stocks.

Solex Energy Ltd earned ₹8.3 Cr of net profit in the Jun 2026 quarter, −66.6% on the same quarter a year earlier. Full-year FY26 profit was ₹98.0 Cr. Over 3 years profit has grown 219.7% a year on average. That is 3.2% of the quarter's revenue. The same quarter a year earlier earned ₹24.7 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹98.0 Cr (+133.3% on the year before).

Why profit moved: revenue changed +0.5% on a year earlier and the margin moved −4.8 percentage points. Sales did the work while the margin got thinner.

On average over the last four quarters, profit changed +37.4% and revenue +100.6%. Profit is growing slower than sales: rising costs are taking part of the growth.

Solex Energy Ltd reported ₹261 Cr of revenue in the Jun 2026 quarter, +0.5% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 3 years it has grown 115.4% a year on average. The last full year, FY26, came in at ₹1,618 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹1,619 Cr.

FY26 revenue was ₹1,618 Cr, +144.4% on the year before.

Recent pace: the last four quarters grew +100.6% on average, against 115.4% a year over the longer run, so this year is growing slower than its own long-run rate.

Solex Energy Ltd's operating margin was 11.1% in the Jun 2026 quarter, 4.8 percentage points lower than the same quarter a year ago. Across 4 years it has been between 7.0% and 12.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −4.8 percentage points on the year while gross margin changed +2.9 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 109% of Solex Energy Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹201 Cr of operating cash against ₹98.0 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹237 Cr of spending on assets, free cash was −₹36.0 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 109% of profit came in as cash: the cash cycle got 33 days longer between FY24 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: the bigger use of cash is spending on new assets, at 9.4× depreciation over three years. The next section checks what that spending is building.

Solex Energy Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 80 days in FY26, up from 47 days in FY24. It spent ₹330 Cr on assets over the last 2 years. Customers take 80 days to pay, and stock sits for 81 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹1,618 Cr, each day of that cycle ties up about ₹4.4 Cr, so roughly ₹355 Cr is tied up in the business at any time.

FY26: customers took 80 days to pay and stock sat for 81 days, about 2.7 months of sales sitting as stock, for a full cycle of 80 days, longer than FY24's 47.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 81 days. Customers pay about 80 days after that. Suppliers are paid at 128 days. Together that makes the 80-day cycle.

Spending on assets: ₹330 Cr over the last 2 years, against ₹35.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹11.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Solex Energy Ltd's P/E is 7.9×, about the lowest it has ever been. Its usual P/E (the middle reading) is 45.2×, over 3.4 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Why the multiple is where it is: over the past year earnings per share moved +131.6% while the price moved −65.4%. Earnings did better than the price, which pulled the multiple down within its own range.

Where the price move came from: over 3 years the price moved +8.2% a year; about +200.5% a year came from earnings growth and about −192.3 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple.

Solex Energy Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 5 quarters of 1 measure, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: with too little history, we say so rather than guess a direction.

One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.

There are fewer than eight usable quarters, so this page does not guess a direction from so little history.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Solex Energy Ltd earned a ROCE of 35% in FY26. Its return on capital used (ROIC) is 9.2 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 6.1% net margin and 1.37× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 6.1% net margin × 1.37× asset turnover × 4.67× leverage (assets divided by equity) ≈ 39.0% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 21.2% − 12.0% = +9.2 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value.

The 21.2% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 28.5%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.

Solex Energy Ltd has total debt of ₹339 Cr against shareholder equity of ₹256 Cr as of Jun 2026, so its debt is 1.32× its equity. Year by year, that ratio went from 0.54 in FY22 to 1.32 in FY26. Keep that borrowing in mind when reading the returns on this page.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Promoters cut their stake in Solex Energy Ltd by 4.5 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 66.2% of the company. Foreign institutions moved +0.3 points over the same period, to 0.3%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Why the owners changed: promoters drove it (−4.5 points). They reduced their stake.

For Solex Energy Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

48.2 out of 100, rank 5 of 7 in Capital Goods - Solar, with 64% of the evidence available.

Solex Energy Ltd scores 48.2 out of 100 against the 7 companies it is compared with in Capital Goods - Solar, ranking 5. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 15.5 + 13.7 + 11.5 + 7.5 = 48.2. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Solex Energy ranks 5 of 7 Capital Goods - Solar companies on the 4-Factor Sector Score, with 48.2 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Capital Goods - Solar, all 7 compared on one page.

Solex Energy is the 5th largest of 7 Capital Goods - Solar companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Waaree Energies, Premier Energies, Vikram Solar and Websol Energy System. Just below it: Australian Premium Solar (India) and Bright Solar.

Capital Goods - Solar companies close in size

1. Waaree Energies Ltd ₹66,275 crore
2. Premier Energies Ltd ₹39,766 crore
3. Vikram Solar Ltd ₹4,540 crore
4. Websol Energy System Ltd ₹2,849 crore
5. Solex Energy Ltd ₹580 crore
6. Australian Premium Solar (India) Ltd ₹474 crore
7. Bright Solar Ltd ₹7 crore

All 7 Capital Goods - Solar companies, largest first

Companies close in size in other industries

1940. Heranba Industries Ltd ₹580 crore · Pesticides/Agrochemicals
1941. Rushil Decor Ltd ₹580 crore
1942. Solex Energy Ltd ₹580 crore
1943. Kellton Tech Solutions Ltd ₹579 crore · IT - Software
1944. Tuticorin Alkali Chemicals & Fertilizers Ltd ₹579 crore · Chemicals - Inorganic - Caustic Soda/Soda Ash

Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

See the plain-text version of this page.