Solex Energy Limited (SOLEX) Fair Value & Analysis
Technology · IN · Market cap ₹8.3B
Strengths
Risks
Fair value as of: Aug 25, 2026
From 24 valuation models · updated today
Share price −15.1% over the past month.
A solid business, trading 64% below our fair value.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price is below even our cautious bear case (₹877.18). The market is more pessimistic than our downside scenario.
- The model range is unusually wide (₹877.18 to ₹4,792). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 25, 2026.
How to read this chart
60‑month range ₹40.41 – ₹1,918 · fair‑value band ₹877.18 – ₹4,792 · the ₹796.25 price screens below the ₹2,203 fair value. Dashed = 300-day average. As of Aug 25, 2026.
Analysis
Solex Energy Limited (SOLEX) currently trades at ₹796.25, while our model-based Fair Value estimate is ₹2,203, implying the stock looks roughly 176.6% undervalued today. The Quality Score stands at 52/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Solex Energy Limited generated revenue of ₹16.2B at a net margin of 5.9%. Revenue grew 248.1% year over year. It earns a return on equity of 47.1%. Net debt stands at ₹2.6B. Fundamentals as of Aug 25, 2026
Our scenario range runs from ₹877.18 (bear case) to ₹4,792 (bull case); at ₹796.25, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 60% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -6% fair-value upside, at 177%, SOLEX screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 24 models by family
Widest divergence: Growth Earnings (₹4,069) versus Dividend Discount (₹8.32). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 25, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 53 · Market factors (momentum, volatility) 20
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Solex Energy Limited manufactures and sells solar photovoltaic modules in India. It provides solar turnkey solutions for solar power plants, solar water pumps, and utility scale ground mounted solar power plants, as well as engineering, procurement, and construction services for the solar energy market.
Full company description
Solex Energy Limited manufactures and sells solar photovoltaic modules in India. It provides solar turnkey solutions for solar power plants, solar water pumps, and utility scale ground mounted solar power plants, as well as engineering, procurement, and construction services for the solar energy market. The company also offers solar residential and industrial rooftop systems, off-grid power plants, solar grid-connected systems, solar home and street light systems, solar water pumps, and custom solar solutions. It serves government, real estate, agriculture, manufacturing, healthcare, hospitality, residential societies, banking institutions, educational institutes, transport and logistics, media and entertainment, and telecom and communications industries. Solex Energy Limited was founded in 1995 and is based in Surat, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Solex Energy Limited reported revenue of ₹16.2B in FY2026 versus ₹719M in FY2022, a compound +117.8%/yr. Reported net income was ₹960M in FY2026, compounding +214.0%/yr from FY2022.
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Peer Group
Solar · 118 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Solar median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Solar stocks, each showing price versus our Fair Value estimate (as of Aug 25, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| First Solar, Inc FSLR | $217.85 | $392.12 | +80% |
| Nextpower Inc NXT | $103.67 | $69.61 | -33% |
| Tongwei Co 600438 | ¥12.89 | ¥12.13 | -6% |
| Waaree Energies Limited WAAREEENER | ₹2,678 | ₹2,709 | +1% |
| Jinko Solar Co 688223 | ¥4.52 | ¥6.47 | +43% |
| Enphase Energy, Inc ENPH | $40.77 | $24.15 | -41% |
| CSI Solar Co 688472 | ¥10.28 | ¥6.76 | -34% |
| Hengdian Group 002056 | ¥21.53 | ¥31.86 | +48% |
| Premier Energies Limited PREMIERENE | ₹1,017 | ₹648.94 | -36% |
| Trina Solar Co 688599 | ¥12.77 | ¥7.97 | -38% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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