This solar stock is engaged in manufacturing photovoltaic (PV) modules and offering complete solar energy solutions, jumped 2 percent after securing an order worth Rs. 45 crore from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for 2,000 solar water pumps.
Stock Price Movement:
With a market capitalization of Rs. 1,503.89 crores, the share of Alpex Solar Limited has reached an intraday high of Rs. 634 per equity share, rising nearly around 1.81 percent from its previous day’s close price of Rs. 622.75. Since then, the stock has retreated and is currently trading at Rs. 614.50 per equity share.
What Happened:
Alpex Solar Limited has secured a significant commercial order worth Rs. 45 Crores from Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) under the Magel Tyala Saur Krushi Pump scheme.
The contract involves the design, manufacture, supply, transport, installation, testing, and commissioning of off-grid DC solar PV water pumping systems with capacities of 3 HP, 5 HP, and 7.5 HP.
The scope encompasses 2,000 solar water pumps, which must be completed within 60 days from the work order date. This domestic project award demonstrates Alpex Solar’s capability to deliver sustainable solar solutions for agricultural applications in Maharashtra.
Expansion Plan:
Alpex Solar Limited is making a major push in solar energy with several key projects. The company is expanding its solar module production to 2.4 GW in two phases. It will add 1.2 GW to its Greater Noida plant by FY25 and build a new 1.2 GW facility in Kosi Kotwan.
Alpex is also entering solar cell manufacturing with a 1.6 GW plant in Kosi Kotwan. This project, costing around Rs. 642 crore, will be completed in three phases by September 2026. Additionally, the company is increasing its aluminum frame production by 12,000 tons and expanding its EPC services (150 MW) and power generation (100 MW) by FY27.
Business Operations:
Alpex Solar Limited is one of North India’s top PV module manufacturers. The company has grown to a team of 375 professionals, including industry experts. It currently produces 900 MW of PV solar modules and has installed over 15,000 solar pumps. As of FY24, Alpex generates all its revenue from domestic sales.
Recent quarter results:
Alpex Solar Limited’s revenue has increased from Rs. 79 crore in Q3 FY24 to Rs. 188 crore in Q3 FY25, which has grown by 137.97 percent. The net profit has also grown by 380 percent from Rs. 5 crore in Q3 FY24 to Rs. 24 crore in Q3 FY25.
Written By – Nikhil Naik
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