Onix Solar Energy Faces Mixed Technical Outlook Amid Strong Sales Growth

Nov 18 2025 08:52 AM IST
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Onix Solar Energy has experienced a recent evaluation adjustment reflecting a shift in its technical outlook. The company reported a significant 94.24% increase in net sales for June 2025 and has shown positive performance over the last three quarters, despite facing challenges with high debt levels and low return metrics.
Onix Solar Energy, a microcap company in the Non-Ferrous Metals industry, has recently undergone an adjustment in its evaluation. This revision reflects a shift in the technical outlook, moving from a mildly bearish stance to a bearish one. The technical indicators present a mixed picture, with the MACD signaling bearish trends on a weekly basis, while the monthly view remains mildly bearish. The Bollinger Bands indicate a bearish trend weekly, contrasting with a mildly bullish stance monthly.

In terms of performance metrics, Onix Solar has reported a significant growth in net sales, achieving a remarkable increase of 94.24% in June 2025. The company has also shown positive results for the last three consecutive quarters, with net sales for the latest six months reaching Rs 68.47 crore, reflecting an extraordinary growth rate. However, the company faces challenges with a high Debt to EBITDA ratio and a relatively low Return on Capital Employed (ROCE) of 5.87%.

Despite these financial dynamics, domestic mutual funds hold no stake in Onix Solar, which may indicate a cautious approach towards the company's valuation and business prospects.

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