General Updates

September 26, 2026 National Stock Exchange of India Limited Bombay Stock Exchange Limited Exchange Plaza, Plot No. C/1, G Block, Phiroze Jeejeebhoy Towers, Bandra – Kurla Complex, Bandra (E), Dalal Street, Mumbai – 400051 Mumbai – 400001 SYMBOL: SOLEX Scrip Code: 544862 Sub.: Transcript of 12th Annual General Meeting of Solex Energy Limited. Dear Sir / Madam, Please find enclosed herewith the Transcript of 12th Annual General Meeting (AGM) of Solex Energy Limited held on Tuesday, September 22, 2026. This intimation is also being made available on the Company’s website. Kindly take the same on the record. Thanking you, Yours faithfully, For, Solex Energy Limited Azmin Chiniwala Company Secretary & Compliance Officer Mem. No. A68339 Encl.: Transcript of 12th Annual General Meeting of Solex Energy Limited 12TH ANNUAL GENERAL MEETING SOLEX ENERGY LIMITED CIN: L40106GJ2014PLC081036 Transcript for the proceeding of the 12th Annual General Meeting of Solex Energy Limited held through video conferencing on Tuesday, September 22, 2026 at 12:30 P.M (IST) and concluded at 12:51 P.M (IST) Company Secretary: Good day, Ladies and Gentlemen, On behalf of Solex Energy Limited, I extend a warm welcome to each one of you to our 12th Annual General Meeting. I am Azmin Chiniwala, Company Secretary & Compliance Officer, and it is my privilege to host the proceedings today. In line with the guidelines issued by the Ministry of Corporate Affairs (MCA) and the Securities and Exchange Board of India (SEBI), this AGM is being conducted through video conferencing (VC) to ensure the participation of our esteemed members. Before we commence, I will now take a roll call of our distinguished Board of Directors:  Dr. Chetan Shah, Chairman and Managing Director – joining from Surat.  Mr. Piyush Chandak, Whole Time Director – joining from Surat  Mr. Vipul Shah, Non-Executive Director – joining from Surat  Mr. Anil Rathi, Non-Executive Director – and Chairman of the Stakeholder Relationship Committee- joining from Surat  Ms. Kiran Shah, Executive Director– joining from Surat  Mr. Amitkumar Trivedi, Independent Director – joining from Vadodara  Mr. Rajeshbhai Patel, Independent Director and Chairman of the Audit Committee & Nomination and Remuneration Committee – joining from Anand  Mr. Kamlesh Yagnik, Independent Director – joining from Surat  Mr. Jayesh Gajjar, Independent Director – joining from Surat  Mr. Sanjay Srivastava, Independent Director – and Chairman of the Corporate Social Responsibility Committee joining from Ahmedabad.  Mr. Sanjay Punjabi, Independent Director – Joining from Surat.  Regrettably, Mr. Kalpeshkumar Patel, Whole-Time Director, is unable to join us today due to unforeseen circumstances. We are also pleased to welcome:  Mr. Hemal Kachiwala, Chief Financial Officer of the company joining from Surat  CS Rajesh Parekh, Scrutinizer appointed for remote e-voting and venue e-voting at this AGM – joining from Ahmedabad I confirm to the Chairman that the requisite quorum is present through video conferencing, and we may proceed with the meeting. In compliance with statutory requirements, the Annual Report for FY 2025-26 and the Notice of the AGM have been sent electronically to all eligible members. As this meeting is held virtually, proxy appointments are not applicable, and accordingly, the register of proxies will not be available for inspection. We have engaged NSDL to facilitate both remote e-voting and e-voting during this AGM. The remote e-voting facility was available from 19th September 2026 (9:00 AM IST) onwards to 21st September 2026 (5:00 PM IST). The venue e-voting facility will remain open for 15 minutes after the conclusion of this meeting. Please note that only members holding shares as on the cut-off date, 15th September 2026, are eligible to vote. Members who have already voted via remote e-voting will not be eligible to vote again during the AGM. I would further like to inform the members that, in accordance with the applicable guidelines of the MCA and SEBI, all members will remain on mute mode during the Meeting. Only those members who have registered with the Company as Speaker Members will be permitted to raise questions or queries during the Meeting. Upon conclusion of all the businesses transacted at the Meeting, the Question-and-Answer Session will be taken up. The Speaker Members will be unmuted individually as their names are called upon. Speaker Members are requested to kindly limit their questions or queries to two minutes, so as to provide an opportunity to other registered Speaker Members and to ensure that the Meeting is conducted in a timely and orderly manner. I request all members to kindly cooperate and adhere to the above instructions. With these formalities completed, I now invite our respected Chairman and Managing Director, Dr. Chetan Shah, to address the members and proceed with the meeting. Over to you, Sir. Chairman: Dear Shareholders, It gives me immense pleasure to welcome you to the 12th Annual General Meeting of Solex Energy. As I look back at our journey of nearly three decades, one word stands out above all others that is endurance. When Solex began its journey in the mid-1990s, solar energy was still an emerging idea. The technology was young, costs were high, and the future was uncertain. Yet we stayed the course. We invested in quality, strengthened our manufacturing capabilities, built lasting customer relationships, and continued to evolve through multiple technology and industry cycles. Today, we are no longer simply participants in the solar industry. We are building Solex for the next generation of energy. FY26 has been a landmark year for Solex. We delivered revenue of ₹16,211 Million, representing a growth of 143.9% over the previous year. EBITDA stood at ₹1,867 Million, while profit after tax reached ₹983 Million. Our order visibility has crossed ₹34,000 Million. These numbers are more than financial milestones. They demonstrate that the market is recognising the capabilities, quality and discipline that we have built over decades. The global energy landscape is undergoing a fundamental transformation. The world is moving from fossil-fuel-based energy towards electricity, and solar is at the heart of this transition. At the same time, the rapid growth of electric mobility, industrial electrification, artificial intelligence and data centres is creating an enormous demand for reliable and clean power. This is where solar, energy storage and integrated manufacturing come together. We believe this is not a short-term cycle. It is a multi-decade structural opportunity. Our strategy is therefore clear. We are strengthening our position across the solar value chain — from cells, to modules, to Battery Energy Storage Systems. Our move into solar cell manufacturing will give us greater control over quality, costs and our supply chain. The strengthening of domestic manufacturing through the Approved List of Models and Manufacturers (ALMM) further reinforces the strategic importance of this investment. Our BESS initiative is equally important. With plans for 10 GWh of battery pack and container assembly capacity, we are preparing Solex for the next phase of renewable energy — where generating electricity will not be enough; storing and delivering it when required will be equally critical. Together, these capabilities are designed to create a more integrated, resilient and globally competitive Solex. We also see a significant opportunity beyond India. Global customers are increasingly looking for diversified and dependable solar supply chains. India has the talent, manufacturing capability and ambition to become a major global alternative. Solex intends to participate meaningfully in that transformation. Our plans for Solex Europe and Solex USA are therefore not merely about expanding our geographical footprint. They are about building long-term customer partnerships and establishing Solex as a tru [Showing first 8,000 characters — download PDF for full document]