Solex Energy Limited has informed the Exchange about Investor Presentation
Solex Energy Ltd.
STOCK CODE ONSE Emerge SYMBOL SOLEX CIN: L40106G32014PLC081036 GST: 24AAVCS0328R1ZN
May 27, 2025
To, The Manager National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block, Bandra – Kurla Complex, Bandra (E), Mumbai – 400051
Symbol: SOLEX
6 N G R G Y
Sub.: Investor Presentation for Post Earning Conference Call
Dear Sir / Madam,
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, please find enclosed herewith the Investor Presentation along with key highlights for half year and year ended March 31, 2025 for the Post Earning Conference Call scheduled on May 27, 2025
Kindly take the same on the record.
Thanking you,
Yours faithfully, For, Solex Energy Limited
Azmin Chiniwala Company Secretary & Compliance Officer
Encl.: as above
CORPORATE OFFICE 301-303, Trinity Business Park, Madhuvan Circle, LP. Savani Road, Pal. Surat - 395009, Gujarat. Bharat V.+91 261 3559999
$ solex.in
V.1800 572 8787
REGISTERED OFFICE
Plot No.131/A, Phase - 1.H.M.Road, G.I.D.C., Vitthal Udyognagar, Anand- 388121, Gujarat, Bharat V.+91 2692 230317
info(a)solex.in
I
SOLEX ENERGY LIMITED
Investor Presentation
H2 & FY2025
1
DISCLAIMER
This document has been prepared for information purposes only and is not an offer or invitation or recommendation to buy or sell any securities of Solex Energy Limited (“SEL”, “Solex”, "Company“), nor shall part, or all, of this document form the basis of, or be relied on in connection with, any contract or investment decision in relation to any securities of the Company. This document is strictly confidential and may not be copied, published, distributed or transmitted to any person, in whole or in part, by any medium or in any form for any purpose. The information in this document is being provided by the Company and is subject to change without notice. The Company relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness. This document contains statements about future events and expectations that are forward-looking statements. These statements typically contain words such as "expects" and "anticipates" and words of similar import. Any statement in this document that is not a statement of historical fact is a forward looking statement that involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. None of the future projections, expectations, estimates or prospects in this document should be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared are correct or exhaustive or, in the case of the assumptions, fully stated in the document. The Company assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements. You acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company.
INVESTOR PRESENTATION
2
AGENDA
01 About Solex Energy
04 Financials & Updates
02 Business Overview
05 Industry Overview
03 Way Forward
06 Annexures
INVESTOR PRESENTATION
3
ABOUT SOLEX
4
SOLEX – A BRIEF
SOLEX ENERGY LIMITED, founded in 1995, specializes in renewable energy solutions and stands as a leading pioneer in Solar Photovoltaic (PV) Module manufacturing in India. Originally known as Sun Energy Systems, the company began its journey by producing solar water heaters. Over time, it expanded its product line to include solar home lighting systems and ventured into the manufacturing of solar PV modules in 2007.
Mission: • Deliver high-quality, innovative, and sustainable solar energy solutions. • Accelerate the transition to renewable energy globally. • • Consistently set benchmarks in quality, performance, and sustainability. • Contribute meaningfully to achieving a carbon-neutral planet.
Empower industries, communities, and individuals with clean energy technologies.
Vision: To be the most trusted and trailblazing leader in the solar energy sector, driving a sustainable future with excellence and reliability.
Over 30 Years Of Experience
10,000+ Successful projects
1.5 GW PV Module Production Capacity (Additional 2.5 GW Under Development)
2 Mn+ Module Shipped
Global Presence
INVESTOR PRESENTATION
5
OUR JOURNEY
1995
1998
2000
2007
Established “Sun Energy Systems”
Started manufacturing “Solar Water Heaters” along with wood and gas fired water heaters
Started manufacturing of “Solar Home Lighting Systems”
Started manufacturing of “Solar PV Modules”
2023
2022
2018
2014
Launched Tapi range of efficiency PV modules under the SOLEX brand & became the preferred OEM partner for the Global Brands
Launch of Global Factory with 1.2 GW Solar Module manufacturing capacity with In-house Reliability Test Lab
Listed on NSE Emerge – “Solex Energy Limited”
Renamed to “Solex Energy Private Limited” & increased the Solar PV Module Manufacturing capacity to 30MW.
2024
2025
2026
2030
Unveiling Vision 2030 & launch of Tapi-R series (India's First Rectangular Cell-Based Solar Modules with N-Type TOPcon Technology)
Added 800 MW (Total 1.5 GW) solar module line; Brownfield expansion underway to reach ~4 GW manufacturing capacity
Exploring development of new 2 GW Solar Cell manufacturing facility
Expansion of Module manufacturing capacity upto 15 GW
Scaling Cell manufacturing facility upto 5 GW
INVESTOR PRESENTATION
6
OUR CORE TEAM
Chetan Shah Chairman & MD
Kalpesh Patel Whole Time Director
Piyush Chandak Whole Time Director
Anil Rathi Non-Executive Director
Vipul Shah Non-Executive Director
Kiran Shah Executive Director & CFO
Brijesh Khanna President - Operations
+ Hailing from the renowned
+
Nemji family, with a century-long legacy of trust and goodwill.
Extensive Solar Industry Experience with over 25 years of dedicated experience in the solar industry.
+
Youngest Director MBA from Auro University, Surat and BBA from Christ University, Bangalore
+ Brings 28+ years of diverse
industry experience including textiles, steel, and recycling.
+ Chartered Accountant with over 20 years of experience in tax advisory and project finance.
+ Aim to build a multi-
+ Renowned leader with
+
+
Successfully transitioned Sun Energy Systems into Solex Energy Limited, listed on the NSE Emerge platform in 2018.
+
pronged business empire through a professional approach.
Experienced in textile processing, telecom, and now driving strategic decisions for Solex
entrepreneurial ventures in garmenting, textile dyeing, steel recycling, and more.
Extensive expertise in Tax Advisory, Project Finance Advisory, and Management Advisory.
+
Instrumental in production, HR, admin, and business development at Solex
+ Active member of various social, educational, and charitable organizations.
+ With three decades of service industry experience, specializing in PV module manufacturing for 16 years.
+ A respected figure in solar manufacturing, driving innovation and leadership.
+ Committed to leading
Solex Energy Limited to unparalleled success through strategic vision and steadfast leadership.
INVESTOR PRESENTATION
+
25 years of hands-on experience in Accounts & Treasury management.
+ Manages financial
reporting, tax preparation, audit assistance, and liaisons with banks and financial institutions.
+ Proficient in financial
statement analysis, regulatory reporting, and general ledger accounting.
+ Accumulated 31 years of broad expertise across service and manufacturing domains.
+ Proficient in optimizing
workflows and maximizing resource utilization to enhance efficiency and productivity.
+ Prioritizes Quality
Assurance to uphold rigorous standards and regulatory compliance, ensuring operational integrity.
7
Business Overview
8
BUSINESS SYNOPSIS
One of the oldest manufacturer of “Solar Photovoltaic (PV) Modules”
Equipped with manufacturing capabilities for PV modules utilizing P-Type Mono PERC and N-Type TOPcon technology.
Engaged in OEM & ODM partnerships with esteemed Indian and International entities for module production under their brand names
Employing Advanced Technology, latest in the industry for Solar PV Module Production
Well-recognized module brand with national and international presence
Operations include Turnkey Projects, spanning Residential Rooftop, Commercial, Industrial, and Utility Ventures
Development process encompasses Design, Development, Testing, Manufacturing & Delivery
Started with 1st Production Line of Global Facility with 700 MW since H2’FY23 & added a 2nd line with 800 MW in H2’FY25, totaling to 1.5 GW
TURN-KEY PROJECTS AND ASSET MANAGEMENT
1
DEVELOPMENT
2
EPC
+ Project Conceptualization
+ Optimized Designing
+ Land Identification, Acquisition & Clearances
+ Quality Engineering
+ Project Finance Modelling
+ Efficient Execution
3
ASSET MANAGEMENT
+ Cost Effective O&M Solutions
+ Dedicated Team
+ Timely Reporting
INVESTOR PRESENTATION
9
CORE COMPETENCIES & PRINCIPLES
World-Class Facility Complying with Global Standards
Module Brand with a Strong Reputation
Commitment to Social Impact & Upholding Integrity
Excellence in Quality
Fostering Creativity and Advancement
Supporting Collaborative Partnerships
Prioritizing Customer Needs
Promoting Environmental Responsibility
Facilitating Employee Empowerment
INVESTOR PRESENTATION
10
GLOBAL FACILITY (1/2)
Current Production Capacity 1.5 GW Existing Production Line – 700 MW (since Oct’22) New Production Line – 800 MW (since Mar’25)
Existing Technology: P-Type Mono PERC
Integration of New Technology: N-Type TOPcon
Fully Automated and State-of-the-Art Production Facility
Equipped with an in-house Reliability Test Laboratory for comprehensive quality assurance
Facility established since September 2022 and capacity expanded in March 2025.
Includes a high-speed 800 MW manufacturing line tailored for Tapi-R series (585–625 Wp) using N-Type rectangular cell technology -
Operates 30% faster than conventional lines, improving throughput and reducing lead
times.
Artificial Intelligence (AI) and Automated Optical Inspection (AOI) integrated for enhanced
quality control and minimal manual intervention.
Features India’s largest chamber laminators for high-efficiency, single-cycle module
production.
1
2
3
4
5
GLOBAL STANDARDS Constructed in accordance with global standards, ensuring top- tier quality and efficiency.
JOURNEY 2.0 State-of-the-art Solar PV Module manufacturing facility in Surat marks the inception of our transformative Journey 2.0.
INDUSTRY 4.0 & BIG DATA Fully automated factory, embracing Industry 4.0 principles and harnessing the power of Big Data for optimized operations.
INFRASTRUCTURE Equipped with a ready infrastructure for 1.5 GW and gearing towards 15.0 GW in a phased approach.
ADVANCED TECHNOLOGY Manufacturing next-generation modules employing latest technology, ranging from 540 Wp to 750 Wp, with enhanced performance, efficiency, and durability.
INVESTOR PRESENTATION
11
State-of-the-ArtFacility
Innovation-DrivenTechnolo
g y
C
ustomization&Adaptability
Control
StringentQuality
Employing Best of Practices in the Industry
INVESTOR PRESENTATION
GLOBAL FACILITY (2/2)
Lean Manufacturing Emphasizing waste reduction and ongoing process enhancement for peak efficiency.
Six Sigma Employing data-driven methods to reduce defects and ensure consistent high product quality.
Total Quality Management (TQM) Focuses on continual quality enhancement from design to delivery.
Advanced Manufacturing Technologies Integrating advanced tech like automation, robotics, MES, and AI to boost productivity, flexibility, and responsiveness.
Supply Chain Management Optimizing supply chains for timely raw material delivery, efficient production scheduling, and effective inventory management.
Environmental Sustainability Solex plant, powered by clean energy, reduces environmental impact, minimizes waste, and fosters sustainability in manufacturing.
Strategic Partnerships and Collaboration Partnering with suppliers, customers, and industry peers to innovate, share best practices, and add value throughout the supply chain.
Regulatory Compliance Maintaining product quality, safety, and ethical practices through industry regulation compliance.
12
PRODUCTS/SOLUTIONS (1/2)
Range of Products
1
2
3
4
5
Monofacial
Bifacial
Black
Trans
Tapi-R (Latest Addition)
Solar Product Range:
Other Products: Solar Street Lights
Solar Modules (Up To 750Wp):
Ensuring maximum yield in all weather conditions with outstanding performance in low light and high temperatures.
Demonstrating exceptional stability, verified through rigorous testing for wind and snow loads.
Facilitating independent operation of the upper and lower halves of the module.
Solex has the highest number of modules registered on the Approved List of Models & Manufacturers (ALMM).
Utilizing non-destructive cell cutting technology for enhanced efficiency and longevity.
Achieving precision manufacturing without human intervention.
Implementing touchless stringing, bussing, and junction box soldering for seamless production processes.
Supported by a 12-year product warranty and a 30-year performance warranty.
INVESTOR PRESENTATION
13
PRODUCTS/SOLUTIONS (2/2)
India's First Rectangular Cell Module Powered by N-Type TopCon Technology
Engineered for Superior Energy Generation and Reliability
High Output Performance • Up to 625 Wp power output • 23.14% module efficiency • Cell size: 182.2 x 210 mm with 132 Half-Cut cells
Optimized for Harsh Environments • ~80% bifacial rate for higher
energy yield
• Excellent thermal performance
with power temperature coefficient of -0.28%/°C
Long-Term Durability & Assurance • 12-year product warranty • 30-year linear performance
guarantee with lowest annual degradation
Next-Gen Solar Module for Utility-Scale Excellence
Weather Resistant
Lower LCOE
Higher Savings
Ideal for large Scale Projects
Super Performance & Reliability
INVESTOR PRESENTATION
14
RELIABILITY TEST LABORATORY
An Integral and essential part of our Expansive Global Facility.
Adhering to the latest IEC 2021 standards, surpassing the industry standard of IEC 2016.
Testing adheres to standards on par with those of renowned laboratories such as UL, TUV, and others.
Conduct thorough testing of solar PV modules, evaluating their performance under extreme temperatures, varying wind speeds, static loads, and other conditions.
Continuous testing spans 2,500 to 4,000 hours to ensure durability and reliability.
Our testing protocols aim to guarantee the sustainability of solar PV modules for a minimum of 30 years.
Every batch of raw materials undergoes meticulous testing to maintain quality assurance
INVESTOR PRESENTATION
15
OFFERING SOLAR INSTALLATIONS & SOLUTIONS
Solar Residential Rooftop
Solar Industrial Rooftop
Solar Power Plant
Solar Water Pumps
Solarizing Commercial Spaces
Solar Car Port
INVESTOR PRESENTATION
* ABOVE IMAGES ARE FOR THE REPRESENTATION PURPOSE ONLY
16
OUR RECENT PROJECTS (EPC)
Radhadarshan Petropack LLP (2.5 MW) Ankleshwar, Gujarat
Vatsalaya Paper Industries LLP (5.0 MW) Kukarmunda, Gujarat
Inorbit Mall (1.17 MW) Malad, Maharashtra
Torrent Power Ltd (3.0 MW) Surat, Gujarat
Sonali Dying Pvt Ltd (2.2 MW) Olpad Gujarat
Eminent Paper Industries (943 KW) Hubli, Karnataka
Gagan Silk (3.0 MW) Olpad, Gujarat
Sankalp IN (1.0 MW) Patan, Gujarat
INVESTOR PRESENTATION
17
SWOT ASSESSMENT
S
W
O
T
Dependence on Government Policies Changes in government policies related to renewable energy incentives and subsidies may affect the growth.
Dependence on Suppliers Operations could be impacted by disruptions in the supply chain.
Established Brand Built a strong reputation in the solar energy industry.
Technological Expertise Possesses advanced technology and expertise in solar energy solutions.
Diverse Product Range Offers a diverse range of solar products and services catering to various customer needs.
Strong Market Presence Significant presence in domestic and international markets.
Robust Supply Chain Well-developed supply chain ensuring efficient production and distribution.
Growing Demand for Renewable Energy Increasing awareness and demand for renewable energy sources present significant opportunities to expand the market share.
Emerging Markets Expansion into emerging markets with favorable regulatory environments can drive growth.
Technological Advancements Leveraging technological innovations can enhance product offerings and efficiency, staying ahead of competitors.
Strategic Partnerships Collaborating with other companies or governments can open new avenues for business development and expansion.
Intense Competition Competition from both established players and new entrants in the solar energy industry.
Regulatory Changes Changes in government regulations or policies related to solar energy could impact the company's operations and profitability.
Supply Chain Disruptions Disruptions in the supply chain due to natural disasters, geopolitical tensions, or other factors could impact production and distribution.
INVESTOR PRESENTATION
18
CATERING ACROSS INDUSTRIES
Government
Real Estate
Agriculture
Manufacturing
Banking Institutions
Residential Societies
Hospitality
Healthcare
Educational Institutes
Transport & logistics
Media & Entertainment
Telecom & Communication
INVESTOR PRESENTATION
19
CLIENTELE (1/2)
INVESTOR PRESENTATION
20
CLIENTELE (2/2)
INVESTOR PRESENTATION
21
Way Forward
22
WAY FORWARD
Implementing Advanced/Latest Technology
Expansion with additional infrastructure
Exploring expansion into cell manufacturing
“N-Type TOPcon”
(Reach approximately 4.0 GW Capacity)
(For 1.0 GW + 1.0 GW Capacity)
Establishing new facilities equipped with the
Aiming to reach a total production capacity of
In the exploration phase for a Solar Cell
latest technology & upgrading existing facility to
~4.0 GW, which
involves
ramping up
the
Manufacturing Line with
total 2.0 GW of
incorporate the latest technological features
Manufacturing Facility with an additional 2.2 GW
capacity.
by Q3FY26.
INVESTOR PRESENTATION
23
VISION 2030
“
Advancing Solar Technology & Scaling Operations
Positioning as a Fully Integrated Solar Company
GROWTH ROADMAP
Key element of Vision 2030 is
the launch of the Tapi-R
series, featuring N-Type
TOPcon Technology and a
rectangular cell design.
Expansion of Module Manufacturing Capacity Following the recent capacity expansion to 1.5 GW, plans to increase manufacturing capacity to 15 GW.
Development of New Cell Manufacturing Facility Exploring the development of a new cell manufacturing facility with an initial capacity of 2 GW, designed for scaling up to 5 GW.
Aiming to increase the workforce to over 25,000 to fuel the growth.
INVESTOR PRESENTATION
24
Performance Update & Financial Highlights
25
KEY BUSINESS HIGHLIGHTS – H2 & FY25
HIGH-SPEED 800 MW LINE COMMISSIONED WITH ADVANCED AUTOMATION & PRECISION MANUFACTURING
Commercial Production (800 MW) started at Tadkeshwar facility in March 2025, bringing total capacity to 1.5 GW.
Designed for high-speed, precision-driven production, fully automated and tailored for mass production of N-Type,
rectangular cell Tapi-R series modules.
Integrates Artificial Intelligence (AI) and Automated Optical Inspection (AOI), significantly enhancing quality control.
Features India's largest chamber laminators, boosting production throughput.
NEXT-GEN PRODUCT LAUNCH & SCALABLE MANUFACTURING EXPANSION
Launched Tapi-R Series (585–625 Wp, 23.14% efficiency), built with N-Type TOPCon rectangular cells.
New 2.2 GW Solar Module Line under
commissioning; INR 200 Cr investment to raise capacity to ~4 GW by Q3 FY26.
Advanced AI & AOI-driven automation
with less than 16 sec/module cycle time.
BUSINESS GROWTH & MARKET RECOGNITION
Achieved 65,000 monthly module production milestone in Dec 2024.
Achieved 81% YoY revenue growth in
FY25.
Became India’s 1st PV module
manufacturer with MCS 005 BSI Kitemark certification – gateway to UK, Europe, and UAE markets.
Series
MIGRATION TO MAIN BOARD
Initiated migration from NSE Emerge to NSE Main Board – expected to complete by mid CY 2025.
Reinforces market credibility and
positions Solex for broader investor participation.
INVESTOR PRESENTATION
26
KEY PERFORMANCE HIGHLIGHTS
Total Income From Operations
H2 FY25
FY25
INR 3,917 Mn 42.8% YoY
INR 6,658 Mn 80.9% YoY
PBT
H2 FY25
INR 395 Mn 287.3% YoY
FY25
INR 567 Mn 391.4% YoY
EBITDA
H2 FY25
INR 514 Mn 144.5% YoY
PAT
H2 FY25
INR 298 Mn 271.9% YoY
FY25
INR 767 Mn 151.5% YoY
FY25
INR 428 Mn 389.9% YoY
EBITDA Margin
H2 FY25
FY25
13.1% +546 bps YoY
11.5% +323 bps YoY
PAT Margin
H2 FY25
FY25
7.6% +468 bps YoY
6.4% +405 bps YoY
Closing Order Book (as on 31st March 2025)
Recent Major Order Win (on 5th May, 2025)
INR 1,756 Mn
INR 4514.1 Mn order secured to supply 310 MW of N-Type TOPCon 615 Wp
Glass-to-Glass (G12R) Modules.
INVESTOR PRESENTATION
27
HALF YEARLY RESULT SUMMARY (CONSOLIDATED)
Particulars
Revenue from Operations
Other Income
Total Income from Operations
COGS
Employee Benefit Expenses
Other Expenses
Total Expenditure
EBITDA*
EBITDA Margin (%)
Depreciation
EBIT
Interest
Profit Before Tax
Tax
Profit After Tax
Net Profit Margin (%)
Reported Earnings Per Share (Rs)
* EBITDA is computed based on Total Income from Operations.
INVESTOR PRESENTATION
H2FY25
H1FY25
H2FY24
YoY%
HoH%
3,891.3
2,730.9
2,728.9
25.2
10.8
13.8
3,916.5
2,741.7
2,742.6
2,886.5
2,233.3
2,300.8
136.6
379.4
91.8
163.5
78.0
153.5
3,402.5
2,488.6
2,532.3
514.0
13.1
51.6
462.4
67.0
395.5
97.7
297.8
7.6
26.84
253.1
9.2
40.7
212.4
40.7
171.7
41.5
130.2
4.7
15.54
210.3
7.7
43.8
166.4
64.3
102.1
22.0
80.1
2.9
42.6
83.2
42.8
25.5
75.1
147.1
34.4
144.5
42.5
133.8
42.8
29.2
48.8
132.1
36.7
103.1
+546 bps
+389 bps
17.7
177.8
4.1
287.3
343.4
271.9
26.7
117.7
64.4
130.3
135.2
128.8
+468 bps
+286 bps
10.01
168.2
72.7
FY25
6,622.2
36.0
FY24
3,659.2
20.9
6,658.2
3,680.2
5,119.9
2,979.4
228.4
542.8
140.0
255.6
5,891.1
3,375.1
767.1
305.1
11.5
92.3
674.8
107.7
567.1
139.2
427.9
6.4
43.82
8.3
84.6
220.5
105.0
115.4
28.1
87.3
2.4
(INR Mn)
YoY%
81.0
71.8
80.9
71.8
63.1
112.4
74.5
151.5
+323 bps
9.1
206.1
2.5
391.4
395.9
389.9
+405 bps
10.92
301.3
28
ANNUAL INCOME STATEMENT (CONSOLIDATED)
Particulars
Revenue from Operations
Other Income
Total Income from Operations
COGS
Employee Benefit Expenses
Other Expenses
Total Expenditure
EBITDA*
EBITDA Margin
Depreciation
EBIT
Interest
Profit Before Tax
Tax
Profit After Tax
Net Profit Margin
Reported Earnings Per Share (Rs)
* EBITDA is computed based on Total Income from Operations.
INVESTOR PRESENTATION
FY22
719.2
3.7
722.9
606.1
23.0
71.6
700.6
22.3
3.1%
2.5
19.8
7.5
12.3
2.4
9.9
1.4%
1.28
FY23
1,617.1
26.8
1,643.9
1,325.8
66.9
11.2
1,403.9
240.0
14.6%
45.3
194.6
56.1
138.5
11.4
127.1
7.7%
3.39
FY24
3,659.2
20.9
3,680.2
2,979.4
140.0
255.6
3,375.1
305.1
8.3%
84.6
220.5
105.0
115.4
28.1
87.3
2.4%
10.92
(INR Mn)
FY25
6,622.2
36.0
6,658.2
5,119.9
228.4
542.8
5,891.1
767.1
11.5%
92.3
674.8
107.7
567.1
139.2
427.9
6.4%
43.82
29
Minority Interest
-
-
8.9
Intangible Assets Under Development
ANNUAL BALANCE SHEET (CONSOLIDATED)
(INR Mn)
(INR Mn)
FY23
FY24
FY25
Particulars
FY23
FY24
FY25
Particulars
EQUITY & LIABILITIES
Shareholders' Fund
Share Capital
Reserves & Surplus
Non-Current Liabilities
Long Term Borrowings
Deferred Tax Liabilities (Net)
Long Term Provisions
Current Liabilities
Short Term Borrowings
Trade Payables
Short Term Provisions
Other Current Liabilities
TOTAL
INVESTOR PRESENTATION
ASSETS
376.3
80.0
296.3
462.4
1,606.3
Non-Current Assets
80.0
108.0
Property, Plant & Equipment
382.4
1,498.3
Intangible Assets
Capital WIP – Tangible Asset
487.2
447.3
4.8
35.1
506.8
472.0
12.0
22.8
723.5
686.9
19.3
17.2
Non-Current Investments
Other Non-Current Assets
Current Assets
Current Investments
Inventories
544.4
1,150.4
2,463.9
Trade Receivables
212.1
278.2
1.1
53.0
489.6
535.7
32.3
92.8
788.1
916.7
136.6
622.6
Cash & Cash Equivalents
Short Term Loans & Advances
Other Current Assets
580.6
544.7
613.5
543.3
1,180.9
1,101.3
0.8
8.4
-
8.3
18.4
0.7
0.9
2.2
23.8
42.6
3.7
16.2
-
24.2
35.4
827.2
1,506.1
3,621.6
-
303.8
302.5
1.3
79.9
120.0
663.9
466.9
1.9
46.8
139.6
206.6
-
1,795.2
1,161.2
120.5
143.7
401.1
1,407.8
2,119.6
4,802.5
TOTAL
1,407.8
2,119.6
4,802.5
30
Industry Overview
31
RENEWABLE ENERGY INDUSTRY (1/2)
India has limited conventional energy resources given its extensive population and rapidly growing economy.
Can harness the huge potential of solar energy as it receives sunshine for most of the year.
Has vast potential in the hydropower sector which is being explored across states, especially in the northeast
India ranks as the world’s 3rd largest energy consuming nation. The peak power demand in the country stood at 243.27 GW on November 30, 2023.
India holds the 4th position globally in terms of Renewable Energy Installed Capacity, including Large Hydro. Furthermore, as per REN21 Renewables 2024 Global Status Report, India ranks 4th in Wind Power and 5th in Solar Power capacity.
Hydro Energy
India’s Vision: ▪ Committing to achieving 500 GW of non-fossil fuel-based energy by 2030 at COP26, with approximately 60% from
Small Hydro Power
Solar Power
Various Sources of Renewable Energy
Wind Power
Bio Power
Solar Power
▪ Targeting to meet 50% of energy needs from renewable sources by 2030 ▪ Aiming to reduce total projected carbon emissions by 1 billion tonnes by 2030 ▪ Striving to lower the carbon intensity of the economy by under 45% ▪ Setting the goal of becoming a net zero carbon country by 2070 ▪ By 2047, aiming for energy independence and to achieve 90% of energy from renewable sources
Source: IBEF, Invest India, ET, Mordor, etc.
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RENEWABLE ENERGY INDUSTRY (2/2)
Solar and wind energy currently contribute more than 50% of the total renewable capacity of the country
India & Renewable Energy: ▪ India's energy demand is expected to increase more than that of any other country in the coming decades due to
its sheer size and enormous potential for growth and development.
▪ India's announcement that it intends to achieve net zero carbon emissions by 2070 and to meet 50% of its
electricity needs from renewable sources by 2030 marks a historic point in the global effort to combat climate change.
▪ India’s ambitious renewable energy goals are transforming its power sector. The rising population and widespread electrification in rural homes are fueling the demand for energy to power homes, businesses and communities.
India's renewable energy potential is estimated at 900 GW from commercially exploitable sources
As of August 2024, Combined installed capacity of renewable energy sources, including large hydropower, amounts to 199.52 GW
Solar energy: 750 GW
Wind power : 102 GW
Bio-energy: 25 GW
Small Hydro: 20 GW
Solar Power: 89.43 GW
Wind Power: 47.19 GW
Large Hydro: 46.92 GW
Biomass/Co-generation: 10.35 GW
Small Hydro power: 5.07 GW
Waste to Energy: 0.60 GW
INVESTOR PRESENTATION
Source: IBEF, Invest India, ET, Mordor, etc.
33
SOLAR ENERGY INDUSTRY (1/2)
The Indian solar energy market, especially solar panels,
The Solar Energy Industry in India has seen a
India's strategic location in the solar belt
is set for substantial growth due to rising energy
significant growth in recent years.
(400 S to 400 N) makes it one of the prime
demand, focused on renewable energy, declining costs
& government support.
beneficiaries of solar energy, enjoying
abundant availability of Sun Light.
From 2025 to 2030
The India Solar Energy Market is projected to grow at a CAGR of 19.80%.
Module manufacturing capacity is forecasted to exceed 150 GW, while
The solar PV segment is anticipated to lead the market due to decreasing
cell capacity is anticipated to reach 75 GW by 2026, as per Mercom
costs of solar modules and their versatility in generating electricity and
India Research.
heating water, resulting in the largest market share.
INVESTOR PRESENTATION
Source: IBEF, Invest India, ET, Mordor, etc.
34
SOLAR ENERGY INDUSTRY (2/2)
Supportive Government policies:
India's solar power sector has experienced a remarkable
3450% growth over the past decade, expanding from just
2.82 GW in 2014 to 100.33 GW of installed capacity as of
January 31, 2025, with an additional 84.10 GW currently
under implementation.
In the first half of 2022 alone, India saved an impressive
US$ 4.2 billion in fuel costs through solar power
generation, effectively avoiding the use of 19.4 million
tonnes of coal.
❖ Ministry of New and Renewable Energy is implementing a ₹24,000 crore
PLI scheme to boost GW-scale manufacturing of high-efficiency solar PV
modules in India.
❖ The Budget 2025 has set the Basic Customs Duty (BCD) on both solar cells
and solar panels at 20%, effective from February 2, 2025.
❖ From April 1, 2024, the Ministry of New and Renewable Energy (MNRE) has
reimposed the Approved List of Models & Manufacturers (ALMM) for Solar
Modules.
❖ The approval for solar city projects per state and the establishment of 59
solar parks, each with a capacity of 40 GW, are significant steps towards
boosting solar energy adoption nationwide.
❖ Additionally, the government is promoting Floating PV Projects.
INVESTOR PRESENTATION
Source: IBEF, Invest India, ET, Mordor
35
Annexures
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AWARDS & ACCOLADES
3rd Renewable Energy Expo 2009
India 500 Best Brand Winner 2021
Gujarat Solar Leadership Award
Asia Energy Tech Expo 2017
NSE Emerge Listing
Imagineers
NSE Emerge
SMERA NSE 1 Credit Rating
3rd Energy Tech Exhibition 2016
INVESTOR PRESENTATION
37
CERTIFICATIONS
CEC
R-72008125
E531180
IS 14286: 2010 IS/IEC 61730-1: 2004 IS/IEC 61730-2: 2004
UL 61730-1 & 2 : 2017
Safety Qualification
ISO – 9001:2015 ISO – 14001:2015 OHSAS – 45001:2018
California CEC 300 : 2018
IEC 61215-1 & 2 : 2016
IEC 61730-1 & 2 : 2016
IEC 61701 : 2020
IEC 62804 : 2015
IEC 61853-1 & 2 : 2016
IEC 60068-2-68 : 1994
IEC 62716 : 2013
IEC 60904-1
IEC TS 63342 : 2022
IEC 61215-2 (MQT 08, 19.1)
INVESTOR PRESENTATION
38
Let’s Connect
Solex Energy Limited
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INVESTOR PRESENTATION