Multibagger Solar Stock Hit Upper Circuit After Reporting 80 Per Cent Revenue Growth, Strengthening Leadership in Solar Industry
The stock is up 18 per cent from its 52-week low of Rs 618.76 per share and has given multibagger returns of 4,300 per cent in 5 years
On Thursday, shares of Solex Energy Limited hit a 5 per cent upper circuit to Rs 780.60 per share from its previous closing of Rs 695.85 per share. The stock’s 52-week high is Rs 1,786.70 per share and its 52-week low is Rs 618.76 per share.
Solex Energy Limited has announced an impressive 80 per cent revenue growth for the fiscal year 2023-2024, reinforcing its position as a dominant force in India's solar industry. The company, based in Surat, Gujarat, also reported a remarkable compound annual growth rate (CAGR) of 110 per cent, demonstrating consistent and rapid expansion. While audited revenue figures for the 2024-2025 fiscal year are pending, the unaudited consolidated data clearly indicates a surge in demand for Solex's high-efficiency solar solutions, underscoring the company's strong market performance.
This substantial growth is attributed to Solex's advanced manufacturing capabilities, a widening international footprint, and a steadfast dedication to sustainable business practices. The company's expertise in engineering, procurement, and construction (EPC) has allowed it to effectively serve a broad range of clients, including those in industrial, commercial, and governmental sectors, further contributing to its robust revenue increase. Looking forward, Solex Energy Limited remains dedicated to advancing the renewable energy sector and promoting a sustainable future. With a solid foundation and a strategic vision, the company is poised to continue its growth trajectory and play a pivotal role in the global transition towards clean energy.
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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 Rs 789 crore. The stock is up 18 per cent from its 52-week low of Rs 618.76 per share and has given multibagger returns of 4,300 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.