Q3 2026 Solex Energy Ltd Earnings Call Transcript
Key Points
- Solex Energy Ltd (NSE:SOLEX) successfully commenced commercial production of a 2.2 gigawatt solar PV module facility, enhancing manufacturing capabilities.
- The company secured significant orders, including a INR544 crore order from the Zelestra Group and INR289 crore from reputed IPP, reinforcing its position in the premium segment.
- Solex Energy Ltd's order book now exceeds INR4,000 crore, providing strong visibility for future execution.
- The company is progressing on its Vision 2030 roadmap, including R&D partnerships for next-generation solar cell development and unveiling India's first rear contact solar module.
- Solex Energy Ltd reported a robust 79.3% year-on-year growth in total revenue for the nine months of FY26, with EBITDA increasing by 72.5%.
- The initial phase of the new facility led to lower revenue recognition and higher fixed costs, affecting margins.
- Extended monsoon impacted the EPC business, causing delays in project execution and revenue recognition.
- Gross margins contracted significantly from 30-32% to 17%, attributed to manufacturing overheads and material costs.
- There are challenges in securing land and necessary clearances for the new cell manufacturing line, potentially delaying setup.
- The company faces potential renegotiations of some orders due to substantial inflation in raw material costs, particularly solar cells.
Ladies and gentlemen, good day and welcome to Solex Energy Limited Q3 and nine months FY26 earnings conference call. (Operator Instructions). Please note that this conference is being recorded.
I now hand the conference over to Mr. Hiral Keniya, from EY LLP. Thank you and over to you.
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Thank you so much, Michelle. On behalf of Solex Energy Limited, I welcome you all to the companys Q3 and nine month FY26 earnings conference call to discuss the performance of the company. We have with us on the management team, Mr. Chetan Shah, Chairman and managing director, Mr. Anil Rathi, non-executive director, Mr. Vipul Shah, non-executive director, and Mr. Hemal Kachiwala, CFO.
Before we proceed with this call, I would like to draw your attention to the fact that today's discussion may contain forward-looking statements that are subject to various risks, uncertainties, and other factors which will be beyond management's control. We kindly request to bear in your mind that
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