Solex Energy net profit up 390% at Rs 42.79 cr in FY25 on higher revenues

Solar solutions provider Solex Energy on Tuesday posted 390 per cent jump in its net profit to Rs 42.79 crore for the fiscal year 2024-25, mainly on the back of higher revenues.

The company's Earnings Per Share (EPS) rose to Rs 43.82, reflecting a 301 per cent year-on-year growth, a company statement said.

According to the statement, Solex Energy also reported a remarkable 390 per cent increase in Profit After Tax (PAT), soaring to Rs 42.79 crore from Rs 8.73 crore in the previous year.

The company delivered a robust performance, with consolidated revenues reaching Rs 665.82 crore, a significant 81 per cent year-on-year growth compared to Rs 368.02 crore in FY 2023-24, it stated. 

The stellar growth was driven by increased demand for solar modules, strategic execution of large-scale EPC projects, and geographical expansion in Maharashtra, Tamil Nadu, Uttar Pradesh, and Rajasthan, it added.

Chetan Shah, Chairman & Managing Director, Solex Energy, said, "Our FY 2024-25 performance is a clear reflection of Solex Energy's unwavering commitment to excellence, customer trust, and operational agility. As India accelerates its renewable energy ambitions, we are steadfast in our vision 2030, to become the country's most trusted solar energy partner, driving sustainable solutions that empower industries, communities, and future generations."  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.

Its factory in Tadkeshwar, Gujarat, has a 1.5 GW production capacity for PV modules.