Solar company secures orders worth Rs 68,68,50,000 under the Distributed Renewable Energy Bilateral Purchase (DREBP) Policy
The stock has given multibagger returns of 111 per cent from its 52-week low and has given multibagger returns of over 6,000 per cent in 5 years.
Solex Green Energy Private Limited, a subsidiary of Solex Energy Limited, has been awarded contracts totalling Rs 68,68,50,000 for the development of 24.1 MW of solar power projects. These domestic projects, to be executed in tranches during FY 2025-26 under the Government of India's Distributed Renewable Energy Bilateral Purchase (DREBP) Policy, were awarded by individuals and one entity, K M Enterprise. Notably, four promoters of Solex Energy Limited, namely Sapna Vipul Shah, Paulomi Chetan Shah, Narayan Arun Patodia, and Kavita Piyush Chandak, have an interest in the entities that awarded these orders.
About the Company
Headquartered in Surat, Solex Energy Ltd 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.
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According to half-yearly results, the net sales increased by 42 per cent to Rs 389 crore and net profit increased by 275 per cent to Rs 30 crore in H2FY25 compared to H2FY24. In its annual results, the net sales increased by 81 per cent to Rs 662 crore and net profit increased by 378 per cent to Rs 43 crore in FY25 compared to FY24.
The company have a market cap of over Rs 1,400 crore. The stock has given multibagger returns of 111 per cent from its 52-week low and has given multibagger returns of over 6,000 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.