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Last Updated: April 2, 2026, 3:42 am
Author: Getaka|Social: XLinkedIn

Solex Energy Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,210.46Undervalued by 19.97%vs CMP ₹1,009.00

P/E (23.4) × ROE (38.7%) × BV (₹167.00) × DY (0.05%)

₹901.88Overvalued by 10.62%vs CMP ₹1,009.00
MoS: -11.9% (Negative)Confidence: 59/100 (Moderate)Models: 1 Under, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹2,037.9626%Under (+102%)
Graham NumberEarnings₹371.1519%Over (-63.2%)
DCFCash Flow₹637.2212%Over (-36.8%)
Net Asset ValueAssets₹167.558%Over (-83.4%)
EV/EBITDAEnterprise₹595.2210%Over (-41%)
Earnings YieldEarnings₹366.608%Over (-63.7%)
ROCE CapitalReturns₹831.4810%Over (-17.6%)
Revenue MultipleRevenue₹610.956%Over (-39.4%)
Consensus (8 models)₹901.88100%Overvalued
Key Drivers: EPS CAGR 68.4% lifts DCF — verify sustainability. | Wide model spread (₹168–₹2,038) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 68.4%

*Investments are subject to market risks

Investment Snapshot

65
Solex Energy Ltd scores 65/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health68/100 · Strong
ROCE 28.2% ExcellentROE 38.7% ExcellentD/E 2.08 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.22% (6mo) Slight increasePromoter holding at 66.2% StableShareholders up 80% Retail surge
Earnings Quality65/100 · Strong
OPM expanding (5% → 9%) Improving
Quarterly Momentum50/100 · Moderate
Revenue (4Q): +28% YoY AcceleratingProfit (4Q): -2% YoY DecliningOPM: 7.9% (down 3.0% YoY) Margin pressure
Industry Rank85/100 · Strong
P/E 23.4 vs industry 23.8 In-lineROCE 28.2% vs industry 14.4% Above peersROE 38.7% vs industry 18.0% Above peers3Y sales CAGR: 109% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:42 am

Market Cap 1,090 Cr.
Current Price 1,009
Intrinsic Value₹901.88
High / Low 1,985/665
Stock P/E23.4
Book Value 167
Dividend Yield0.05 %
ROCE28.2 %
ROE38.7 %
Face Value 10.0
PEG Ratio0.34

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Solex Energy Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Solex Energy Ltd 1,090 Cr. 1,009 1,985/66523.4 1670.05 %28.2 %38.7 % 10.0
Honda India Power Products Ltd 1,978 Cr. 1,951 3,256/1,81524.1 7505.31 %12.8 %9.47 % 10.0
Envair Electrodyne Ltd 20.8 Cr. 44.8 130/38.6 18.30.00 %2.25 %5.88 % 10.0
Industry Average1,534.00 Cr1,001.6023.75311.771.79%14.42%18.02%10.00

All Competitor Stocks of Solex Energy Ltd

Quarterly Result

MetricSep 2024Dec 2024Jun 2025Sep 2025Dec 2025
Sales 131.75134.29249.20148.61317.99
Expenses 117.35110.55211.13133.08292.91
Operating Profit 14.4023.7438.0715.5325.08
OPM % 10.93%17.68%15.28%10.45%7.89%
Other Income 0.961.091.63-0.481.29
Interest 2.532.895.415.899.18
Depreciation 1.982.514.264.446.08
Profit before tax 10.8519.4330.034.7211.11
Tax % 15.85%27.38%25.14%28.18%25.92%
Net Profit 9.1314.1122.473.408.23
EPS in Rs 8.4513.0620.803.157.62

Last Updated: March 3, 2026, 2:38 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 10:15 pm

MetricMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Sales 646341011491388072161366660
Expenses 64532961411317670150337591
Operating Profit 01268732112869
OPM % 5%2%6%6%5%5%4%3%7%8%10%
Other Income 00000000324
Interest 0111111161011
Depreciation 00011000589
Profit before tax 0114762141252
Tax % 29%31%33%28%27%29%29%20%30%24%24%
Net Profit 001354213940
EPS in Rs 1.002.053.255.108.027.182.710.992.718.7336.66
Dividend Payout % 0%0%0%16%0%6%9%12%0%5%2%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)200.00%66.67%-20.00%-50.00%-50.00%200.00%200.00%344.44%
Change in YoY Net Profit Growth (%)0.00%-133.33%-86.67%-30.00%0.00%250.00%0.00%144.44%

Solex Energy Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2017-2018 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:59%
5 Years:37%
3 Years:109%
TTM:80%
Compounded Profit Growth
10 Years:82%
5 Years:55%
3 Years:242%
TTM:354%
Stock Price CAGR
10 Years:%
5 Years:126%
3 Years:80%
1 Year:-7%
Return on Equity
10 Years:24%
5 Years:23%
3 Years:28%
Last Year:39%

Last Updated: September 5, 2025, 1:31 pm

Balance Sheet

Last Updated: December 4, 2025, 2:00 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 0.822255558881111
Reserves 0019131719273038147170
Borrowings 44166512196696148293
Other Liabilities 492032474440183770162268
Total Liabilities 915255271717673141212467741
Fixed Assets 022111115554110135
CWIP 000000024102144
Investments 0000000011432
Other Assets 81323517070754885143352461
Total Assets 915255271717673141212467741

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 1-45224-62-49
Cash from Investing Activity + -0-3-3-1-1-27-35-21-54
Cash from Financing Activity + -06-2-2-0224120113
Net Cash Flow 1-10-01-2-0010
Free Cash Flow 1-4421-20-41-6-115
CFO/OP 76%-44%87%53%95%222%-49%13%-53%

Free Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-4.00-3.001.000.002.002.00-9.00-17.00-55.00-68.00-79.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 27975181137136147255105684762
Inventory Days
Days Payable
Cash Conversion Cycle 27975181137136147255105684762
Working Capital Days 43613774868122132642356
ROCE %23%37%42%34%29%11%4%12%18%28%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2021Apr 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Dec 2025
Promoters 70.43%70.65%43.49%70.65%70.65%70.65%70.65%70.66%66.15%66.15%66.15%66.15%
FIIs 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.03%0.01%0.09%0.25%
DIIs 0.00%0.00%0.00%0.00%0.00%0.00%0.00%1.10%0.89%0.79%1.02%0.98%
Public 29.57%29.35%56.51%29.36%29.35%29.35%29.35%28.24%32.94%33.06%32.75%32.63%
No. of Shareholders 2142462453083035679171,4022,2692,9173,0075,427

Shareholding Pattern Chart

No. of Shareholders

Solex Energy Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24
FaceValue 10.0010.00
Basic EPS (Rs.) 43.8210.92
Diluted EPS (Rs.) 43.8210.92
Cash EPS (Rs.) 48.1621.50
Book Value[Excl.RevalReserv]/Share (Rs.) 148.6957.80
Book Value[Incl.RevalReserv]/Share (Rs.) 148.6957.80
Revenue From Operations / Share (Rs.) 613.03457.40
PBDIT / Share (Rs.) 71.0138.13
PBIT / Share (Rs.) 62.4727.56
PBT / Share (Rs.) 52.5014.43
Net Profit / Share (Rs.) 39.6110.92
NP After MI And SOA / Share (Rs.) 38.9110.92
PBDIT Margin (%) 11.588.33
PBIT Margin (%) 10.196.02
PBT Margin (%) 8.563.15
Net Profit Margin (%) 6.462.38
NP After MI And SOA Margin (%) 6.342.38
Return on Networth / Equity (%) 26.1618.88
Return on Capital Employeed (%) 28.8522.74
Return On Assets (%) 8.754.12
Long Term Debt / Equity (X) 0.421.02
Total Debt / Equity (X) 0.912.08
Asset Turnover Ratio (%) 1.910.00
Current Ratio (X) 1.471.31
Quick Ratio (X) 0.740.73
Inventory Turnover Ratio (X) 5.390.00
Dividend Payout Ratio (NP) (%) 1.131.37
Dividend Payout Ratio (CP) (%) 0.920.69
Earning Retention Ratio (%) 98.8798.63
Cash Earning Retention Ratio (%) 99.0899.31
Interest Coverage Ratio (X) 7.122.90
Interest Coverage Ratio (Post Tax) (X) 4.971.83
Enterprise Value (Cr.) 818.19743.97
EV / Net Operating Revenue (X) 1.242.03
EV / EBITDA (X) 10.6724.39
MarketCap / Net Operating Revenue (X) 1.031.77
Retention Ratios (%) 98.8698.62
Price / BV (X) 4.2414.01
Price / Net Operating Revenue (X) 1.031.77
EarningsYield 0.060.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Solex Energy Ltd. is a Public Limited Listed company incorporated on 13/10/2014 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L40106GJ2014PLC081036 and registration number is 081036. Currently company belongs to the Industry of Electric Equipment - General. Company's Total Operating Revenue is Rs. 660.05 Cr. and Equity Capital is Rs. 10.80 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Electric Equipment - General8th Floor, 801-812, Rio Empire, Opp RTO, Pal, Surat Gujarat 395009Contact not found
Management
NamePosition Held
Mr. Chetan Sureshchandra ShahChairman & Managing Director
Mr. Piyush Kailashchandra ChandakWhole Time Director
Mr. Kalpeshkumar Ramanbhai PatelWhole Time Director
Mrs. Kiran Ritesh ShahExecutive Director
Mr. Anil RathiNon Executive Director
Mr. Vipul Mulchand ShahNon Executive Director
Mr. Amitkumar D TrivediIndependent Director
Mr. Rajeshbhai Tulsibhai PatelIndependent Director
Mr. Kamlesh Pravin YagnikIndependent Director
Mr. Sanjay Bhagvandas PunjabiIndependent Director
Mr. Jayesh Jayantilal GajjarIndependent Director
Mr. Sanjay SrivastavaIndependent Director

FAQ

What is the intrinsic value of Solex Energy Ltd and is it undervalued?

As of 14 April 2026, Solex Energy Ltd's intrinsic value is ₹901.88, which is 10.62% lower than the current market price of ₹1,009.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (38.7 %), book value (₹167), dividend yield (0.05 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Solex Energy Ltd?

Solex Energy Ltd is trading at ₹1,009.00 as of 14 April 2026, with a FY2026-2027 high of ₹1,985 and low of ₹665. The stock is currently in the middle of its 52-week range. Market cap stands at ₹1,090 Cr..

How does Solex Energy Ltd's P/E ratio compare to its industry?

Solex Energy Ltd has a P/E ratio of 23.4, which is below the industry average of 23.75. This is broadly in line with or below the industry average.

Is Solex Energy Ltd financially healthy?

Key indicators for Solex Energy Ltd: ROCE of 28.2 % indicates efficient capital utilization; ROE of 38.7 % shows strong shareholder returns. Dividend yield is 0.05 %.

Is Solex Energy Ltd profitable and how is the profit trend?

Solex Energy Ltd reported a net profit of ₹40 Cr in Mar 2025 on revenue of ₹660 Cr. Compared to ₹1 Cr in Mar 2022, the net profit shows an improving trend.

Does Solex Energy Ltd pay dividends?

Solex Energy Ltd has a dividend yield of 0.05 % at the current price of ₹1,009.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Solex Energy Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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