Solex Energy Reports 1,698% Surge In PAT In H1

Solex Energy Reports 1,698% Surge In PAT In H1

Indian solar module manufacturer Solex Energy Limited has now reported a massive surge of 1698% in its net profits in H1 compared to its profits in H1 of FY24. The company has now announced the financial results for H1 and shared details of its incomes, profits and other details.

For the first half of the fiscal year, Solex Energy reported a total income of ₹273.09 crore, a substantial increase of 194% compared to ₹93.04 crore in H1 FY24.

Following are some of the other key financial indicators of the firm in H1-

• EBITDA stood at ₹25.37 crore, marking a 168% growth from ₹9.48 crore in the previous year.
• Profit Before Tax (PBT) rose  to ₹17.23 crore, reflecting a 1194% increase from ₹1.33 crore.
• Profit After Tax (PAT) reached ₹13.08 crore, a 1698% surge from ₹0.73 crore in H1 FY24.
•  Earnings Per Share (EPS) grew to ₹15.63, representing a 1618% increase over ₹0.91 last year.
• Net Worth expanded by 244%, reaching ₹131.69 crore, up from ₹38.23 crore.
• Return on Equity (ROE) improved to 29.41% (annualized), a 665.89% increase from 3.84% (annualized) in H1 FY24

Commenting on the results, Chetan Shah, Chairman & Managing Director of Solex Energy Limited, said: “Our financial performance in the first half of FY 2024-25 underscores Solex Energy’s dedication to delivering sustainable growth and value for our investors and customers. This achievement is a testament to our commitment to advancing India’s renewable energy sector.”

The company earlier announced an investment exceeding Rs 8,000 crores as part of its Vision 2030 strategy. Solex is exploring the development of a new cell manufacturing facility with an initial capacity of 2 GW, designed to scale up to 5 GW. Its module manufacturing capacity will also be increased from 1.5 GW to 15 GW.