Solex Energy has set an aspirational revenue target of ₹4,500 crore for FY28, as the company expands its solar manufacturing operations and moves towards greater vertical integration. The company has also outlined an aspirational profit after tax (PAT) margin of 5% to 6% for FY28.
As of June 30, 2026, Solex Energy had an order book and revenue visibility of around ₹3,400 crore. The company is scaling its manufacturing capabilities in Gujarat and expanding into solar cell production as part of its growth strategy.
Solex Energy has commenced commercial operations at its 2.2 GW solar module manufacturing facility at Tadkeshwar, Gujarat, taking its overall module manufacturing capacity to 4 GW. The facility is part of the company’s broader transition towards an integrated solar manufacturing model.
The company is also planning a 2.2 GW solar cell manufacturing line, with commercial operations targeted for 2027. The project involves a planned capital expenditure of ₹1,050 crore and is expected to strengthen the company’s backward integration across the solar manufacturing value chain.
The expansion comes amid growing demand for domestically manufactured solar modules in India, supported by policy measures including the Approved List of Models and Manufacturers (ALMM), import duties and production-linked incentives. Solex Energy is also focusing on high-efficiency TOPCon technology as it expands its manufacturing portfolio.
In recent months, the company has secured several solar module supply orders. In early September 2026, Solex Energy received domestic work orders worth ₹74.77 crore for solar PV modules, with execution scheduled for December 2026. This followed a ₹42.47 crore domestic TOPCon module supply contract secured in August 2026.
In July 2026, Solex Energy also secured a module supply contract from Zelestra Group. The company continues to build its order pipeline as it expands its manufacturing capacity.
The planned solar cell manufacturing facility is expected to reduce the company’s dependence on external cell supplies and support its integrated manufacturing operations. The expansion will also add to Solex Energy’s production capabilities as India’s solar manufacturing sector continues to scale.
With a ₹3,400 crore order book as of June 2026, the company is targeting significant growth in revenue by FY28 while expanding its presence across solar module and cell manufacturing.
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