Multibagger Solar Company Boosts Module Manufacturing Capacity to New 2.2 GW with Rs 2 Billion Investment
The stock has given multibagger returns of over 4,000 per cent in 5 years.
Solex Energy Limited, a prominent Indian solar brand, is significantly expanding its manufacturing capabilities with the launch of a new 2.2 GW solar module production line with Rs 2 billion Investment. This strategic move, announced in Surat, Gujarat, underscores the company's strong dedication to sustainability and its proactive approach to address the increasing global need for high-performance solar modules. Once this new line is operational, Solex Energy's total module manufacturing capacity will reach approximately 4 GW, marking a substantial advancement towards its ambitious Vision 2030 goals and solidifying its standing as a leading force in the solar industry.
The new production line is slated for completion by September 2025 and is expected to begin commercial operations at the start of the third quarter of the fiscal year 2025-2026. This expansion will utilize cutting-edge TOPCon (glass-to-glass) technology and incorporate a highly automated production process. This includes the integration of Artificial Intelligence (AI) and Artificial Optical Inspection (AOI) for enhanced efficiencies, along with a sophisticated Manufacturing Execution System (MES) that will provide real-time traceability and data analytics. With an impressive cycle time of less than 16 seconds per module, this development is poised to dramatically boost both productivity and the overall quality of Solex's output.
To realize this ambitious expansion, Solex Energy has established key strategic partnerships, notably with Zhuhai Gmee Solar Equipment Company. This collaboration ensures access to advanced technology and valuable industry expertise, facilitating the successful implementation of the new production line. Solex Energy's commitment extends beyond manufacturing growth, as evidenced by its recent 80 per cent revenue increase in FY 2023-24 and a remarkable 110% Compound Annual Growth Rate (CAGR). Looking ahead under its Vision 2030, Solex is also exploring the establishment of a new solar cell facility with an initial capacity of 2 GW, scalable to 5 GW, and aims to expand its module manufacturing to 15 GW while creating over 25,000 jobs.
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About the Company
Headquartered in Surat, Solex Energy has been a pioneer in sustainable energy since 1995. As the first Indian solar brand listed on NSE Emerge (stock code: SOLEX), Solex is renowned for producing high-end photovoltaic modules at competitive prices and offering comprehensive EPC services. Our global factory in Tadkeshwar, Gujarat, has a 1.5 GW production PV module manufacturing capacity. Solex holds key certifications for domestic and international markets and exports to several countries. As a trusted OEM provider, we serve internationally recognised brands. Built upon our core values of consistency, quality, and commitment, we transcend being merely a solar company to become your trusted partner in fulfilling your PV module and EPC requirements.
According to half-yearly results, the net sales increased by 194 per cent to Rs 273.09 crore and net profit increased by 1,698 per cent to Rs 13.08 crore in H1FY25 compared to H1FY24. In its annual results, the net sales increased by 126 per cent to Rs 365.92 crore and net profit increased by 222 per cent to Rs 8.73 crore in FY24 compared to FY23.
The company have a market cap of over Rs 700 crore. The stock has given multibagger returns of over 4,000 per cent in 5 years. Investors should keep an eye on this solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.