Alpex Solar FY2026: Revenue Jumps to ₹2,223 Crore as Backward Integration Takes Center Stage

FY26 revenue was INR 2,223.27 crore, EBITDA was INR 327.39 crore, and PAT was INR 201.51 crore, as per the investor presentation.

Q4 FY26 revenue was INR 671.95 crore, EBITDA was INR 92.87 crore (13.82% margin), and PAT was INR 53.26 crore (7.93% margin), as per the investor presentation.

The company has a planned 2.2 GW G12R TOPCon (3rd Generation) solar cell facility at Kosi Kotwan. Management stated it is likely to commence production within the next 90 days (August 2026 referenced in the concall).

The presentation targets 3.6 GW solar PV module manufacturing capacity by FY27, with multiple 1.2 GW units listed in the capacity table.

Management announced plans for 5 GW solar glass manufacturing and 5 GW wafer and ingot manufacturing via phased implementation, with a pilot project planned before the June 2028 wafer/ingot policy timeline discussed on the concall.

Yes. On the concall, management stated they were sitting on an order book of around INR 1,900 crore.

On the concall, management stated eligibility on 15 February 2027 and that they plan to submit papers on 16 February 2027, subject to exchange approvals.