Key takeaway: During the Q4 and FY 2026 earnings conference call, management reported that Solex Energy Limited achieved a 144% year-on-year revenue growth, reaching INR 16,211 million. The company executed over 200 EPC projects and maintained a zero-defect metric, showcasing operational excellence. A significant work order valued at INR 2,716 million was secured for the supply of advanced solar PV modules. Financially, the company generated a net cash flow of INR 2,007 million and improved its working capital cycle to approximately 35 days. Management set a goal of INR 26,000 million in revenue for FY 27, with a PAT margin of 6% to 8%. The company signed a MoU with the Government of Gujarat for backward integration, planning to develop manufacturing facilities for solar cells and battery storage systems. The call concluded with a focus on maintaining growth and profitability while navigating raw material cost challenges.

Key takeaway: During the earnings call on February 12, 2026, management reported that Q3 and the first nine months of FY '26 marked a significant transition for Solex Energy Limited, highlighted by the commencement of commercial production at their new 2.2-gigawatt solar PV module facility. Management noted that while initial production led to lower revenue recognition and impacted margins due to higher fixed costs, they anticipated normalization of margins as utilization increases. The company secured substantial orders, including INR 544 crores from Zelestra Group and INR 289 crores from an IPP, contributing to a robust order book exceeding INR 4,000 crores. Management also discussed strategic initiatives, including R&D partnerships and plans to expand manufacturing capacity, while emphasizing the supportive policy environment for solar energy in India. Financially, total revenue for the nine months reached INR 7,351 million, reflecting a 79.3% year-on-year growth, with EBITDA and profit after tax also showing significant increases.

Key takeaway: Solex Energy Limited's investor presentation for the post-earning conference call highlighted key achievements for the quarter and nine months ended December 31, 2025. Management reported a total revenue of INR 7,351 million for 9MFY26, reflecting a 79.3% year-over-year increase. EBITDA for the same period was INR 881 million, up 72.5% year-over-year, with a margin of 12%. The presentation detailed the operational progress, including the commencement of commercial production at a new 2.2 GW solar PV module facility. Management noted significant orders received, including a ₹544.62 crore order from Zelestra Group, enhancing execution visibility. The company aims for a revenue of ₹1,700–1,800 crore for FY26, supported by strong order inflows and advanced technology. Solex's strategic partnerships and investments in R&D were also emphasized as key drivers for future growth.