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Solex Energy Plans Rs 4,500 Crore Revenue, Expands Solar Business
Solex Energy makes products used to produce solar power.
The company wants its revenue to grow to more than Rs 4,500 crore by FY28.
It reported revenue of more than Rs 1,620 crore in FY26.
Solex plans to invest about Rs 4,000 crore from FY27 to FY30.
It wants to make solar cells as well as solar modules.
It also plans to build battery systems that can store energy.
The company aims for 2.2 GW of solar cell capacity by FY28.
It is also planning battery assembly and expansion in Europe and the United States.
Solex Energy is targeting revenue exceeding Rs 4,500 crore by FY28.
The company reported FY26 revenue above Rs 1,620 crore, EBITDA of Rs 186.7 crore and net profit of Rs 98.3 crore.
Solex has outlined an investment programme of about Rs 4,000 crore between FY27 and FY30.
Its expansion covers solar cells, modules and Battery Energy Storage Systems, including 2.2 GW of cell capacity by FY28.
The company plans 10 GWh of battery pack and container assembly, with the first 5 GWh phase targeted for FY29.
- Who
- Solex Energy, led by Chairman Chetan Shah.
- What
- The company announced a plan to more than double revenue to over Rs 4,500 crore by FY28 while expanding solar cell, module and battery-storage operations.
- Where
- The announcement was made in New Delhi, with planned international expansion through Solex Europe and Solex USA.
- When
- The targets were discussed on Tuesday at the company’s 12th Annual General Meeting; the investment plan covers FY27 to FY30.
- Why
- Solex aims to create a more integrated renewable-energy business with greater control over quality, costs, supply chains and customer requirements.
Key facts
- FY28 revenue target
- More than Rs 4,500 crore
- FY26 revenue
- More than Rs 1,620 crore
- FY26 EBITDA
- Rs 186.7 crore
- FY26 net profit
- Rs 98.3 crore
- Planned investment
- About Rs 4,000 crore between FY27 and FY30
- Solar cell capacity
- 2.2 GW by FY28, scaling to 5.2 GW by early FY29
- Battery assembly capacity
- 10 GWh planned, with the first 5 GWh phase targeted for FY29
Quotes
Chetan Shah
Chairman of Solex Energy
“The expansion is intended to create a more integrated and resilient business model, with greater control across the value chain and the ability to serve evolving customer requirements.”
thehansindia.com
Sources
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