Synopsis:
Alpex Solar Limited won a ₹345 crore solar module order from a leading domestic player, with project completion targeted by March 2026.
This Small-cap Solar stock, engaged in designing and manufacturing solar modules and cells, develops EPC projects and provides solutions and services for residential, commercial, and utility-scale clients, and jumped 5 percent after securing an order worth Rs. 345 crore for the supply of solar modules.
With a market capitalization of Rs. 3,198.67 crores, the share of Alpex Solar Limited has reached an intraday high of Rs. 1,317 per equity share, rising nearly 4.97 percent from its previous day’s close price of Rs. 1,254.65. Since then, the stock has retreated and is currently trading at Rs. 1,307 per equity share.
What is the News?
Alpex Solar Limited has secured a significant order worth Rs. 345 crores for the supply of solar modules, strengthening its market presence. The order, awarded by a leading domestic industry player, highlights the company’s growing credibility in the renewable energy sector.
The order, scheduled for completion by March 2026, will enhance Alpex Solar’s revenue pipeline and support its vision of delivering sustainable and reliable solar solutions across India.
Capex Plans
Alpex Solar Limited has planned a total capital expenditure of Rs. 642 crores to expand its solar cell and module production at the Kosi facility. Out of this, Rs. 400 crores will be invested in FY26, with the module expansion expected to finish by December 2025 and the first phase of the solar cell plant ready by March 2026.
The remaining Rs. 242 crores will be invested in FY27 to further increase production capacity. This expansion will help Alpex Solar strengthen its presence in the fast-growing solar energy sector and meet rising demand.
Capacity Expansion
Alpex Solar Limited currently has a solar module manufacturing capacity of 1.2 GW, which will soon double to 2.4 GW. The company is also entering solar cell manufacturing, with a 500 MW phase of its 1.6 GW project expected to start commercial production in FY26.
In addition, Alpex is setting up an aluminum frame facility with an annual capacity of 12,000 MT. By FY27, it also plans to expand its EPC services to 150 MW and increase power generation capacity to 100 MW, further strengthening its integrated solar energy business.
Company Overview
Alpex Solar Limited was established in 1993 and is a leading Indian solar photovoltaic (PV) module manufacturer and integrated energy solutions provider, headquartered in Greater Noida, Uttar Pradesh. The company produces high-quality solar panels, including bifacial, mono PERC, and half-cut modules, using advanced cell technologies.
Alpex Solar Limited is a trusted partner for leading clients such as Tata Power, NTPC, Indian Oil, and Godrej. The company also delivers solar energy solutions to organizations like HAL, Powergrid, and SECI, helping them transition to renewable power.
Recent quarter results
Coming into financial highlights, Alpex Solar Limited’s revenue has increased from Rs. 77 crore in Q1 FY25 to Rs. 380 crore in Q1 FY26, which has grown by 393.51 percent. The net profit has also grown by 4,100 percent from Rs. 1 crore in Q1 FY25 to Rs. 42 crore in Q1 FY26. Alpex Solar Limited’s revenue and net profit have grown at a CAGR of 51.42 percent and 94.26 percent, respectively, over the last five years.
In terms of return ratios, the company’s ROCE and ROE stand at 51.8 percent and 48.1 percent, respectively. Alpex Solar Limited has an earnings per share (EPS) of Rs. 34.11, and its debt-to-equity ratio is 0.36x.
Written By- Nikhil Naik
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