About Solar ACE
Solar ACE is a publicly listed company based in Ahmedabad (India) founded in 2022. It offers solar panel systems for homes and businesses to promote energy efficiency. It operates on a B2B and B2C model. The company has 1,879 employees. Its Indian entity Rolex Rings Limited reported revenue of ₹1,194 Cr. Solar ACE offers products and services including Residential Solar and Commercial Solar. Its focus areas include Energy, Renewable Energy, Solar and Residential Solar. Its competitors include Gensol and Inspire Clean Energy.
Company details
Solar Ace Energy delivers solar solutions by designing, installing, and maintaining rooftop systems for residential and commercial clients. They conduct assessments, procure components, and handle permits in locations like Ahmedabad and Pune. Services include operations and maintenance to reduce electricity costs and support sustainable energy, serving individuals and businesses across Gujarat and other regions.
- Headquarters Ahmedabad, India
- Employees 1,879
- Stage Public
- SectorsEnergy & Utilities
- Email••••••••
- Phone•••• ••••
- Website solaraceenergy.com
- Social LinkedIn Facebook Instagram
- Legal Name Rolex Rings Private Limited
- Date of Incorporation 13 Feb, 2003
- Jurisdiction Rajkot, Gujarat, India
- Market Cap₹4,067 Cr
ROLEXRINGS · NSE
- Share Price₹161.44
+4.13% today
- Revenue₹1,144 Cr
FY 2025-26 · -1.0% YoY
- EBITDA₹179 Cr
Margin 15.6%
- Net Profit₹179 Cr
FY 2025-26 · -4.8% YoY
- P/E (TTM)21.0x
P/B 3.4x
- ROE15.6%
ROCE 21.0%
- Debt / Equity0.01
Interest cover 1.0x
- Employee Count1,879
Associated legal entities of Solar ACE
Solar ACE operates through Rolex Rings Limited, a listed company (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Rolex Rings Limited Listed CIN L28910GJ2003PLC041991 | Active | 13 Feb 2003 | Rajkot, Gujarat | ₹1,194 Cr | 1,879 | 8 | View details |
Products & Services of Solar ACE
Solar ACE offers a comprehensive portfolio of products and services, including Residential Solar and Commercial Solar.
Systems for homes to generate electricity and cut costs.
Solutions for businesses to improve energy efficiency.
Board of directors of Rolex Rings Limited (Solar ACE)
Rolex Rings Limited is the primary company behind Solar ACE. The board of Rolex Rings Limited currently have 6 directors; the longest-serving is Manesh Dayashankar Madeka, appointed in 2003. 5 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Manesh Dayashankar Madeka DIN 01629788 | Managing Director | 13 Feb 2003 | 23 yrs 8 mo | Rolex Rings Limited |
| Bhoutik Dayashankar Madeka DIN 01761543 | Whole-time director | 21 Feb 2017 | 9 yrs 8 mo | Rolex Rings Limited |
| Mihir Rupeshkumar Madeka DIN 01778561 | Whole-time director | 21 Feb 2017 | 9 yrs 8 mo | Rolex Rings Limited |
| Jignasa Pravinchandra Mehta DIN 08035567 | Director | 12 Mar 2021 | 5 yrs 7 mo | Rolex Rings Limited |
| Ashit Ravishankar Vankani DIN 08988523 | Director | 12 Mar 2021 | 5 yrs 7 mo | Rolex Rings Limited |
| Pravinchandra Ratilal Dholakia DIN 00844014 | Director | 12 Mar 2021 | 5 yrs 7 mo | Rolex Rings Limited |
IPO & Listings of Solar ACE
Solar ACE is a publicly listed company on the NSE with ticker symbol ROLEXRINGS in India, operating in the Castings, Forgings & Fastners sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- Listed onNSE: ROLEXRINGS
- Listed entityRolex Rings Limited
- Exchange sectorCastings, Forgings & Fastners
Financials of Solar ACE
Exchange-reported figures of Rolex Rings Limited, the listed company behind Solar ACE (NSE: ROLEXRINGS).
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 1,144 | 1,155 | 1,222 | 1,179 | 1,010 | 616 | 666 |
| Revenue growth | -1.0% | -5.5% | +3.6% | +16.7% | +63.9% | -7.5% | - |
| EBITDA | 179 | 222 | 230 | 261 | 229 | 109 | 121 |
| EBITDA margin | +15.6% | +19.2% | +18.8% | +22.1% | +22.7% | +17.7% | +18.2% |
| Profit before tax | 190 | 208 | 210 | 243 | 194 | 75.18 | 72.09 |
| Net profit | 179 | 188 | 179 | 198 | 132 | 86.89 | 52.97 |
| Net profit margin | +15.6% | +16.3% | +14.6% | +16.8% | +13.1% | +14.1% | +8.0% |
| EPS (₹) | 5.18 | 63.89 | 57.30 | 72.74 | 48.43 | 36.26 | 22.08 |
| Balance sheet | |||||||
| Total assets | 1,218 | 1,091 | 939 | 846 | 789 | 627 | 548 |
| Net worth | 1,214 | 1,072 | 898 | 743 | 545 | 368 | 277 |
| Total debt | 0.00 | 14.15 | 18.06 | 81.53 | 223 | 238 | 250 |
| Cash & bank | 79.16 | 67.98 | 28.77 | 34.40 | 19.91 | 10.42 | 16.44 |
| Net working capital | 458 | 365 | 374 | 422 | 403 | 242 | 212 |
| Cash flow | |||||||
| Cash from operations | 190 | 227 | 221 | 213 | 58.88 | 59.21 | 184 |
| Cash from investing | (52.61) | (191) | (158) | (44.14) | (67.78) | (36.31) | (14.17) |
| Cash from financing | (117) | (6.18) | (66.15) | (151) | 8.04 | (19.54) | (168) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 304 | 306 | 275 | 271 | 292 | 284 | 260 | 300 |
| Revenue growth (YoY) | +4.4% | +7.7% | +5.8% | -9.6% | -6.2% | - | - | - |
| Other income | 19.84 | 2.87 | 17.42 | 14.36 | 15.61 | 9.88 | 3.85 | 9.46 |
| Total expenses | 236 | 299 | 220 | 217 | 230 | 232 | 227 | 234 |
| EBITDA | 68.72 | 7.03 | 55.16 | 54.84 | 61.57 | 52.22 | 32.66 | 66.01 |
| EBITDA margin | +22.6% | +2.3% | +20.1% | +20.2% | +21.1% | +18.4% | +12.6% | +22.0% |
| Depreciation | 9.04 | 9.38 | 9.42 | 9.33 | 9.00 | 11.64 | 9.73 | 9.66 |
| Interest | 0.23 | 0.36 | 0.13 | 0.78 | 0.18 | 1.13 | 0.16 | 0.67 |
| Profit before tax | 79.29 | 0.16 | 63.03 | 59.09 | 68.00 | 49.33 | 26.62 | 65.14 |
| Tax | 19.15 | 0.32 | 15.28 | 14.75 | 18.84 | (5.32) | 6.45 | 15.88 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 304 | 306 | 275 | 271 | 292 | 284 | 260 | 300 |
| Revenue growth (YoY) | +4.4% | +7.7% | +5.8% | -9.6% | -6.2% | - | - | - |
| Other income | 19.84 | 2.87 | 17.42 | 14.36 | 15.61 | 9.88 | 3.85 | 9.46 |
| Total expenses | 236 | 299 | 220 | 217 | 230 | 232 | 227 | 234 |
| EBITDA | 68.72 | 7.03 | 55.16 | 54.84 | 61.57 | 52.22 | 32.66 | 66.01 |
| EBITDA margin | +22.6% | +2.3% | +20.1% | +20.2% | +21.1% | +18.4% | +12.6% | +22.0% |
| Depreciation | 9.04 | 9.38 | 9.42 | 9.33 | 9.00 | 11.64 | 9.73 | 9.66 |
| Interest | 0.23 | 0.36 | 0.13 | 0.78 | 0.18 | 1.13 | 0.16 | 0.67 |
| Profit before tax | 79.29 | 0.16 | 63.03 | 59.09 | 68.00 | 49.33 | 26.62 | 65.14 |
| Tax | 19.15 | 0.32 | 15.28 | 14.75 | 18.84 | (5.32) | 6.45 | 15.88 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 1,144 | 1,155 | 1,222 | 1,179 | 1,010 | 616 | 666 |
| Revenue growth | -1.0% | -5.5% | +3.6% | +16.7% | +63.9% | -7.5% | - |
| Other income | 50.25 | 28.46 | 15.06 | 19.30 | 11.42 | 3.43 | 9.34 |
| Total expenses | 965 | 933 | 992 | 918 | 781 | 507 | 545 |
| Employee cost | 71.99 | 68.90 | 64.35 | 59.15 | 58.76 | 51.87 | 52.66 |
| EBITDA | 179 | 222 | 230 | 261 | 229 | 109 | 121 |
| EBITDA margin | +15.6% | +19.2% | +18.8% | +22.1% | +22.7% | +17.7% | +18.2% |
| Depreciation | 37.13 | 40.42 | 32.63 | 26.92 | 25.55 | 25.41 | 26.52 |
| Interest | 1.44 | 2.38 | 2.70 | 9.83 | 20.43 | 11.70 | 32.17 |
| Profit before tax | 190 | 208 | 210 | 243 | 194 | 75.18 | 72.09 |
| Tax | 49.19 | 33.70 | 53.66 | 45.17 | 62.48 | (11.77) | 19.15 |
| Net profit | 179 | 188 | 179 | 198 | 132 | 86.89 | 52.97 |
| Net profit margin | +15.6% | +16.3% | +14.6% | +16.8% | +13.1% | +14.1% | +8.0% |
| EPS (₹) | 5.18 | 63.89 | 57.30 | 72.74 | 48.43 | 36.26 | 22.08 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 27.23 | 27.23 | 27.23 | 27.23 | 27.23 | 35.52 | 33.08 |
| Reserves & surplus | 1,186 | 1,045 | 871 | 716 | 518 | 323 | 236 |
| Shareholders' funds (net worth) | 1,214 | 1,072 | 898 | 743 | 545 | 368 | 277 |
| Secured loans | 0.00 | 14.11 | 18.02 | 81.48 | 223 | 238 | 271 |
| Unsecured loans | 0.00 | 0.04 | 0.04 | 0.05 | 0.07 | 0.11 | (20.65) |
| Total debt | 0.00 | 14.15 | 18.06 | 81.53 | 223 | 238 | 250 |
| Total liabilities | 1,218 | 1,091 | 939 | 846 | 789 | 627 | 548 |
| Assets | |||||||
| Gross block | 660 | 621 | 603 | 495 | 457 | 424 | 448 |
| Net block | 447 | 444 | 466 | 391 | 380 | 372 | 374 |
| Capital work in progress | 38.58 | 34.39 | 4.13 | 45.84 | 45.99 | 1.15 | 0.00 |
| Investments | 288 | 261 | 107 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 235 | 244 | 240 | 256 | 262 | 171 | 131 |
| Sundry debtors | 220 | 193 | 218 | 228 | 231 | 171 | 128 |
| Cash & bank balances | 79.16 | 67.98 | 28.77 | 34.40 | 19.91 | 10.42 | 16.44 |
| Loans & advances | 26.08 | 14.17 | 30.67 | 26.16 | 25.64 | 20.71 | 18.28 |
| Total current assets | 560 | 519 | 518 | 545 | 538 | 373 | 293 |
| Total current liabilities | 102 | 154 | 143 | 123 | 135 | 131 | 81.01 |
| Net working capital | 458 | 365 | 374 | 422 | 403 | 242 | 212 |
| Total assets | 1,218 | 1,091 | 939 | 846 | 789 | 627 | 548 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 48.88 | 18.87 | 21.66 | 3.75 | 4.61 | 1.25 | 0.14 |
| Net cash from operating activities | 190 | 227 | 221 | 213 | 58.88 | 59.21 | 184 |
| Net cash from investing activities | (52.61) | (191) | (158) | (44.14) | (67.78) | (36.31) | (14.17) |
| Net cash from financing activities | (117) | (6.18) | (66.15) | (151) | 8.04 | (19.54) | (168) |
| Net change in cash | 20.43 | 30.01 | (2.78) | 17.91 | (0.86) | 3.37 | 1.11 |
| Closing cash | 79.16 | 67.98 | 28.77 | 34.40 | 19.91 | 10.42 | 16.44 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -1.0% | -5.5% | +3.6% | +16.7% | +63.9% | -7.5% | - |
| EBITDA growth | -19.6% | -3.5% | -11.8% | +13.9% | +110.3% | -10.4% | - |
| PBT growth | -8.4% | -1.0% | -13.8% | +25.2% | +158.5% | +4.3% | -48.7% |
| Net income growth | -4.8% | +4.9% | -9.7% | +50.1% | +51.8% | +64.0% | - |
| Revenue CAGR (3Y) | -1.0% | +4.6% | +25.6% | +21.0% | +3.8% | -7.2% | -1.5% |
| EBITDA CAGR (3Y) | -11.8% | -1.0% | +28.3% | +29.0% | +4.4% | -12.2% | -7.4% |
| Profitability & leverage | |||||||
| Net income margin | +12.3% | +15.1% | +12.8% | +16.8% | +13.1% | +14.1% | +8.0% |
| Return on capital employed | +21.0% | +20.7% | +27.4% | +31.0% | +30.3% | +14.8% | +17.9% |
| Return on net worth | +15.6% | +17.7% | +21.8% | +30.8% | +29.3% | +27.8% | +21.9% |
| Debt / equity | 0.01 | 0.02 | 0.06 | 0.24 | 0.50 | 0.76 | 1.25 |
| Long-term debt / equity | 0.00 | 0.00 | 0.00 | 0.02 | 0.05 | 0.12 | 0.40 |
| Interest cover | 1.02 | 1.31 | 1.37 | 4.20 | 10.05 | 14.02 | 33.89 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.79 | 1.89 | 2.23 | 2.48 | 2.29 | 1.41 | 1.52 |
| Inventory turnover | 4.78 | 4.77 | 4.93 | 4.56 | 4.67 | 4.09 | 4.58 |
| Debtors turnover | 5.55 | 5.63 | 5.48 | 5.14 | 5.03 | 4.13 | 4.31 |
| EPS (₹) | 5.18 | 63.89 | 57.30 | 72.74 | 48.43 | 36.26 | 22.08 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 44.56 | 393.68 | 329.81 | 272.83 | 200.05 | 144.75 | 108.27 |
Competitors of Solar ACE
Solar ACE has 2 listed competitors in our database. They include Gensol and Inspire Clean Energy.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| gensol.in | 2007 | Ahmedabad, India | 300 | Provider of solar advisory and execution services | ||
| inspire-ce.com | 2015 | Mumbai, India | 132 | Provides solar PV asset management and operations & maintenance services. |
Detailed competitors of Solar ACE
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Web traffic of Solar ACE
Websites that share an audience with Solar ACE (solaraceenergy.com).
Websites whose visitors overlap most with Solar ACE. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| jjpvsolar.com | 98% | 4.8K | #4,179,837 | View details |
Top companies in Renewable & Sustainable Energy
3 companies that operate in the same segment as Solar ACE (Renewable & Sustainable Energy) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Hybrid renewable energy solutions are provided for rural communities. | 2008 | Patna, Bihar, India | USD 73.99 M | USD 3.46 M | 294 | |
Solar energy projects are developed for commercial and industrial clients. | 2011 | Mumbai, Maharashtra, India | USD 442.67 M | USD 166.51 M | 365 | |
Manufacturer of solar PV modules | 1990 | Mumbai, Maharashtra, India | USD 111.38 M | USD 2.77 B | 8,690 |
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Frequently Asked Questions about Solar ACE
Solar ACE was founded in 2022.
Solar ACE is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.
Solar ACE has 1,879 employees.
The primary company behind Solar ACE, Rolex Rings Limited, reported revenue of ₹1,194 Cr for FY 2026, down 1% year on year.
Solar Ace Energy delivers solar solutions by designing, installing, and maintaining rooftop systems for residential and commercial clients. They conduct assessments, procure components, and handle permits in locations like Ahmedabad and Pune. Services include operations and maintenance to reduce electricity costs and support sustainable energy, serving individuals and businesses across Gujarat and other regions.
Solar ACE's top competitors include Gensol and Inspire Clean Energy.
Solar ACE offers Residential Solar and Commercial Solar.
Yes, Solar ACE is publicly traded on NSE under the ticker symbol ROLEXRINGS.
Solar ACE operates through Rolex Rings Limited.
The legal entities of Solar ACE currently have 8 directors, including Manesh Dayashankar Madeka, Bhoutik Dayashankar Madeka, Mihir Rupeshkumar Madeka and others.