Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 5 Oct - Solex Energy secured a ₹75.96 crore order for 620 Wp N-Type TOPCon solar modules.
Source: Bse
Solex Energy Limited (SOLEX)
Small CapPower stocks · Small cap · NSE
Solex Energy Limited operates in Power Generation, within the Power sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result14 Aug, 03:39 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Power P/E 16.8 (n=92)
Technical timing lens
Trend score and candlestick chart
22Bearishfull bear SMA stack · SMA20 -7.9% / mo · RSI oversold · MACD − · near 52W low
Stock trend: 22
Sector RS: —
Power FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
SOLEXD candles · FIT view-51.5%Latest close ₹608.10 on 2026-10-19
Bar
-2.5%
RSI
28
MACD hist
-1.44
52W pos
0%
2026-10-19O ₹623.85H ₹638.95L ₹603.00C ₹608.10Vol 20,092 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
SOLEXNifty PowerNifty 500
- SOLEX
- -38.1%
- Nifty 500
- -5.6%
- Nifty Power
- -13.0%
- Vs Nifty 500
- -32.5 pp
Chart stats
19 Oct 2026- From 52W high
- -69.4%
- 52W range position
- 0%
- ATR (14)
- 5.0%
- Volume vs 20D
- 0.20x
- Avg traded value
- ₹6.8 Cr
- 20D price channel
- ₹603 - ₹770
₹1,985
₹603 - ₹1,985
₹30.1
Latest completed session
20-session average
39.0% annualized volatility
Research snapshot
What the evidence says now
Strong fundamentals, management evidence is still limited to a financial-only Trust Lite signal, but price trend argues for patience. Suitable for staggered entry or watchlist confirmation rather than aggressive buying.
Strong U-Score but weak trend: timing is not confirming the thesis.
Suggested next step
Add to watchlist
Fundamental setup is interesting, but technical confirmation is weak.
U-Score
Legacy · DEEP VALUE78
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue +0.5% · PAT -66.6% YoY
Technical
Bearish22
Price trend and sector-relative-strength timing.
Valuation
Legacy model+67.3%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence62
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100PAT -67% YoY · margin compression · Rev +0% YoY
Filed 14 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹260.8 Cr | +0.5% | -70.5% |
| EBITDA | ₹29 Cr | -29.8% | -70.5% |
| Operating margin | 11.1% | -478 bps | +0 bps |
| PAT | ₹8.3 Cr | -66.6% | -86.0% |
| PAT margin | 3.2% | -636 bps | -349 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 9.25
- P/B
- 2.91
- EV/EBITDA
- 5.30
- Market Cap
- 737.00Cr
Profitability
- ROE
- 46.50%
- ROCE
- 34.90%
- ROA
- 6.94%
- Dividend Y
- 0.08%
Growth (CAGR)
- Revenue 5Y
- 78.00%
- EPS 5Y
- 78.00%
- Revenue 3Y
- 115.00%
- EPS 3Y
- 195.00%
Balance Sheet
- Debt/Equity
- 1.34
- Interest Coverage
- 4.53×
- Altman Z
- 2.69
- Book Value
- 234.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- 201.00 Cr
- EPS TTM
- 73.89
Shareholding
- Promoter Hold
- 66.15%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 2%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 1,618+144.4% vs prev
Net Profit
₹ CrLatest: 98.0+133.3% vs prev
Return on Equity
%Latest: 16.6+191.2% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 28.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~8.6% over last month) — short-term momentum negative.
- RSI(14) at 28 — oversold zone; bounce conditions.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & peers
U-Score 78 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 78 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · DEEP VALUEValuation23/30
Growth22/25
Quality20/20
Balance Sheet6/15
Cash Flow1/10
Piotroski
7/9 (+5)
Penalties
1
Raw sum
78
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
78/100 · legacy band DEEP VALUE
Positive drivers
- Piotroski is strong at 7/9.
- Fair-value margin of safety is positive at 67.3%.
- Quality contributes 20/20 to the score.
Main drags
- Cash flow is weaker at 1/10; verify the latest quarterly trend.
- Balance sheet is weaker at 6/15; verify the latest quarterly trend.
- Valuation is weaker at 23/30; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
9.3
PB
2.9
EV/EBITDA
5.3
ROE
46.5%
ROCE
34.9%
FCF Yield
—
Debt/Equity
1.3
MoS
+67.3%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
78
Previous: 78
Legacy U-Score band
DEEP VALUE
Previous: DEEP VALUE
Margin of safety
+67.3%
Previous: +68.5%
Score history
12 stored score snapshots. Latest stored move: +2 points.
20 Oct 2026
v4.3-runtime-valuation
76
76
76
76
76
76
76
76
76
76
76
78
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹623.72
+2.5% MoS
Growth-justified P/E
25.1
Growth-justified Value
₹1,856.86
+67.3% MoS
PEG
0.07
Comparable companies
Peers
Business-comparable peers in Power — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SWELECTES
Small
Swelect Energy Systems Limited
Power Generation
match 163
44
21.2
5.3%
+15%
WATCHLIST
KECL
Small
Kirloskar Electric Company Limited
Power Generation
match 161
22
57.1
6.8%
-294%
OVERVALUED
TNPETRO
Small
Tamilnadu PetroProducts Limited
Power Generation
match 160
41
8.1
9.2%
-45%
WATCHLIST
KPEL
Small
K.P. Energy Limited
Power Generation
match 158
82
8.0
43.4%
+73%
DEEP VALUE
KARMAENG
Small
Karma Energy Limited
Power Generation
match 154
20
46.7
-0.4%
-64%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Solex Energy Limited operates in Power Generation, within the Power sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
62Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 35th percentile of the scored universe and 36th percentile within Power. Main check: results consistency is weak at 39/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
13 docs text-extracted · 6 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
35th percentile
overall median 67 · Power: 36th pctile, median 65 · Small: 40th pctile, median 66
Evidence depth
Financial-only
13 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
43
weak · profit to cash conversion
Balance sheet
53
watch · leverage and solvency
Discipline
90
strong · capital discipline
Results
39
weak · quarterly consistency
Trust positives
- ▸Promoter holding is 66.2%.
- ▸Promoter pledge is zero.
- ▸ROCE is 35.8%.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸3 latest quarters had PAT decline worse than 25% YoY.
- ▸Only 0 years of positive FCF.
- ▸Debt/equity is 1.34.
- ▸1/4 latest quarters had positive YoY PAT growth.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Solex Energy Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Concall transcript
Transcript Of 12Th Annual General Meeting 26 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 22 Sep - Solex Energy outlined ₹4,000 crore FY27–FY30 expansion, targeting ₹4,500 crore revenue by FY28 and 2.2 GW cells.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 3 Sep - Solex Energy wins ₹74.77 crore module orders; receives ₹174.30 crore LOI, pipeline at ₹846 crore.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 15 Aug
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.