Annual Report of Solex Energy Limited for Financial Year 2025-26

August 31, 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: Submission of Annual Report 2025-26 under Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/ Ma'am, Pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we have enclosed herewith Annual Report for Financial Year 2025-26 along with Notice convening 12th Annual General Meeting. The Annual Report for the Financial Year 2025-26 is also uploaded on the Company’s website at https://solex.in/investors/. This is for your information and record. Thanking you Yours faithfully, For, Solex Energy Limited Azmin Chiniwala Company Secretary & Compliance Officer Mem. No. A68339 Encl.: As Above MOMENT IS NOW Annual Report 2025-26 Revenue 143.9% EBITDA 134.6% 132.7% CONTENTS Corporate Overview 02 5 principal messages of this Annual Report Part 4: Our management prespective Part 1: Who we are and what we do 36 Chairman's statement 06 Corporate snapshot 40 FY 2025-26: A breakthrough year in Solex's 10 Financial and operational snapshot existence 11 How does Solex Energy differ from its peers 41 Our commitment to responsible governance 12 Certified for quality, recognized for excellence 42 Our Board's profile 14 Our relevance 48 Leadership team 15 Our clientele Part 5: How we are structured to enhance value 16 Expanding our global footprint 52 Solex's positioning to drive sustainable long- 18 Our consistent growth year-on-year term stakeholder value 55 Business segment: Our integrated EPC Part 2: The context of our sector and how we capabilities are growing our business 56 Our product portfolio 22 India's solar industry 24 India's power sector vision 2047 Part 6: Our business drivers Three decades of preparation have 27 Catalyst for industry growth 60 Manufacturing excellence brought Solex Energy to a defining 28 Building India's next integrated solar 66 Digital operating system in action inflection point. manufacturing ecosystem 70 Our branding and marketing capability The Company has steadily built 29 Solex's vision 2030 76 Execution capability Part 3: The human charge at Solex 80 Reliability testing as a quality assurance manufacturing capabilities, technology 32 Voices from within 84 Quality excellence leadership and customer trust. 33 Proof in our performance 90 Talent management Today, these strengths coincide with 94 Building a responsible future the accelerating global shift towards clean energy and India’s emergence as a Statutory Reports Financial Statements renewable manufacturing powerhouse. 101 Company Information 158 Standalone Financial Statements As Solex expands from the production 103 Directors’ Report 221 Consolidated Financial Statements of solar modules to solar cells, energy 136 Management Discussion and Analysis 281 Notice storage and backward integration, it is transitioning from a product manufacturer to an integrated renewable energy enterprise. This Annual Report captures a year when About this report This Annual Report of Solex Energy Limited for FY 2025–26 presents a comprehensive preparation met opportunity. overview of the Company’s financial and non-financial performance, covering the period from 1st April, 2025, to 31st March, 2026. Our moment starts now! Forward-looking statement accurate. Readers are cautioned not to place This document contains statements about undue reliance on forward-looking statements expected future events and financial and as a number of factors could cause assumptions, operating results of Solex Energy Limited, which actual future results and events to differ materially are forward-looking. By their nature, forward- from those expressed in the forward-looking looking statements require the Company to statements. Accordingly, this document is subject make assumptions and are subject to inherent to the disclaimer and qualified in its entirety by risks and uncertainties. There is a significant the assumptions, qualifications and risk factors risk that the assumptions, predictions and other referred to in the management’s discussion and forward-looking statements will not prove to be analysis of the annual report. Solex is entering the most defining phase of its three- decade journey, backed by an expanded manufacturing capacity and a long-term growth roadmap. The Company is becoming an integrated renewable energy business through investments in solar modules, solar cells and future energy storage capabilities. India’s accelerating clean energy transition is creating a structural opportunity, and FIVE Solex is positioning itself to participate at a larger scale. PRINCIPAL Technology, manufacturing 4 excellence, quality and MESSAGES OF disciplined capital allocation continue to strengthen Solex’s competitiveness and THIS ANNUAL resilience. REPORT 5 The Company remains focused on creating sustainable long-term value for customers, employees, shareholders and the wider renewable energy ecosystem. 02 | Solex Energy Limited Annual Report 2025-26 | 03 PART WHO WE ARE AND WHAT WE DO 04 | Solex Energy Limited Annual Report 2025-26 | 05 Corporate snapshot SINCE 1995, SOLEX ENERGY LIMITED HAS Vision To be the most trusted and BEEN PATIENTLY SHAPING trailblazing leader in the INDIA’S RENEWABLE solar energy sector, driving a sustainable future with ENERGY FUTURE. excellence and reliability. WITH THREE DECADES, WE HAVE TRANSFORMED THE SUN’S LIMITLESS POWER INTO SMART SOLAR Mission Purpose SOLUTIONS - FOR HOMES, BUSINESSES, AND Deliver high-quality, innovative, and ƒ Consistently set benchmarks To empower a sustainable future sustainable solar energy solutions. in quality, performance, and by driving the global solar energy INDUSTRIES NATIONWIDE. sustainability. transition. ƒ Accelerate the transition to renewable energy globally. ƒ Contribute meaningfully to achieving a carbon-neutral planet. RENOWNED FOR RELIABILITY AND PERFORMANCE, ƒ Empower industries, communities, and individuals with clean energy WE DELIVER HIGH-QUALITY PHOTOVOLTAIC MODULES technologies. AROUND A COMPETITIVE VALUE. OUR GLOBAL-SIZED GIGA FACTORY COMBINES Values - SOLEX AUTOMATION, ROBOTICS, AND AI-DRIVEN PROCESSES. BACKED BY LEAN MANUFACTURING PRACTICES AND SIX SIGMA CAPABILITY, WE DELIVER UNMATCHED Sustainability Optimal performance Legacy PRECISION AND DURABILITY. Driving eco- Delivering reliable, Creating a trusted friendly solutions to high-efficiency foundation of safeguard the planet, products and services innovation, inspiring reduce carbon that meet the highest confidence and TODAY, SOLEX IS POISED FOR TRANSFORMATIVE footprints, and create standards. setting benchmarks a greener future. in renewable energy. GROWTH – EXPANDING ITS PRESENCE FROM MODULE MANUFACTURING TO DELIVERING A COMPLETE SOLAR ECOSYSTEM. Excellence Xponential growth Upholding Fostering innovation FUTURE-READY AND INNOVATION-LED, WE unmatched quality and progress to drive and service to deliver exponential growth for EMPOWER BUSINESSES AND FAMILIES TO EMBRACE exceptional value to customers, employees, all stakeholders. and communities. CLEAN, SUSTAINABLE ENERGY FOR GENERATIONS TO COME. 06 | Solex Energy Limited Annual Report 2025-26 | 07 About us Management expertise What we offer Manufacturing excellence R&D and technology integration Credit rating and financial health Solex Energy Limited, headquartered Led by Dr. Chetan Shah, Solex Solex offers a comprehensive Solex’s fully automated solar PV Solex integrates advanced As of 31st March, 2026, credit-rating in Surat, has been providing Energy draws on over three decades portfolio of solar energy solutions, manufacturing facility at Tadkeshwar manufacturing philosophies and agency CRISIL reaffirmed Solex sustainable energy solutions since of industry expert [Showing first 8,000 characters — download PDF for full document]