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Alpex Solar Limited is an integrated solar PV equipment manufacturer and EPC/IPPs provider based in Greater Noida, producing solar modules, aluminum frames, solar water pumps and delivering EPC services while expanding upstream into TOPCon cell manufacturing and planning wafer, ingot and glass production to build a domestic PV supply chain.
The company is mid‑September 2026 commissioning a 2.2 GW G12R TOPCon cell line after a Rs. 890 crore capex, targeting cell efficiencies up to 26.5% and automated operations with AGVs, which management expects to materially expand margins versus plain‑vanilla module manufacturing and support DCR compliance.
Recent financials show Q1 FY27 revenue of roughly Rs. 500 crore with EBITDA of Rs. 80 crore (15.5%) and PAT of Rs. 40 crore (8%), and FY26 reported revenue of ~Rs. 2,200 crore with PAT Rs. 201 crore, reflecting step‑up growth and margin expansion after multi‑year scale‑up and integration.
Operational footprint includes 2.4 GW module lines (expanding toward 3.6 GW), 12,000 tpa aluminium frame capacity (expanding to 18,000 tpa), 26,000 solar water pumps deployed, and explicit targets for 100 MW IPP and 115 MW EPC, indicating diversified revenue streams across manufacturing, projects and aftermarket services.
Management guidance and commentary position Alpex Solar Limited as pursuing vertical integration to insulate margins and survive competitive pressures from plain‑vanilla module manufacturers, with explicit plans to monetize cell output as modules and to scale further into glass, wafer and ingot manufacturing by FY30.
Consumable Fuels
Coal
1,915 Cr
Moderate Risk
11.4
8.1
0.0
3.6
1,267.80
650.00
Sales CAGR
Profit CAGR
ROE
ROCE
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Investor Presentation
Q3 FY26
Investor Presentation
Q2 FY26
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Q3 FY25
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Q2 FY25
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Q2 FY25
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Q2 FY25
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Q2 FY25
Investor Presentation
Q1 FY25
Alpex Solar Ltd (ALPEXSOLAR) is currently trading at 749.55 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.
Alpex Solar Limited is an integrated solar PV equipment manufacturer and EPC/IPPs provider based in Greater Noida, producing solar modules, aluminum frames, solar water pumps and delivering EPC services while expanding upstream into TOPCon cell manufacturing and planning wafer, ingot and glass production to build a domestic PV supply chain. The company is mid‑September 2026 commissioning a 2.2 GW G12R TOPCon cell line after a Rs. 890 crore capex, targeting cell efficiencies up to 26.5% and automated operations with AGVs, which management expects to materially expand margins versus plain‑vanilla module manufacturing and support DCR compliance. Recent financials show Q1 FY27 revenue of roughly Rs. 500 crore with EBITDA of Rs. 80 crore (15.5%) and PAT of Rs. 40 crore (8%), and FY26 reported revenue of ~Rs. 2,200 crore with PAT Rs. 201 crore, reflecting step‑up growth and margin expansion after multi‑year scale‑up and integration. Operational footprint includes 2.4 GW module lines (expanding toward 3.6 GW), 12,000 tpa aluminium frame capacity (expanding to 18,000 tpa), 26,000 solar water pumps deployed, and explicit targets for 100 MW IPP and 115 MW EPC, indicating diversified revenue streams across manufacturing, projects and aftermarket services. Management guidance and commentary position Alpex Solar Limited as pursuing vertical integration to insulate margins and survive competitive pressures from plain‑vanilla module manufacturers, with explicit plans to monetize cell output as modules and to scale further into glass, wafer and ingot manufacturing by FY30.
Over the past 52 weeks, Alpex Solar Ltd has traded between a low of ₹650.00 and a high of ₹1,267.80. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.
Alpex Solar Ltd has a market capitalization of approximately 1,914.58. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.
Alpex Solar Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 11.42 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.
Based on its market capitalization of 1,914.58 Cr, Alpex Solar Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.
Alpex Solar Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.
The Price-to-Earnings (PE) ratio of Alpex Solar Ltd is 11.42. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.
Alpex Solar said commercial production at its 2.2 GW G12R TOPCon third-generation solar-cell facility was expected to commence shortly. Its September 30, 2026 filing does not disclose a specific commissioning date, initial output level or customer shipment schedule.
Alpex Solar reported deployment of ₹162.27 crore as of September 30, 2026. Plant and machinery received ₹76.27 crore, and working-capital requirements received ₹50 crore.
Alpex Solar reported standalone profit after tax of Rs 20.037 crore for the quarter ended September 30, 2026. It was Rs 52.0865 crore in the quarter ended September 30, 2025 and Rs 38.7346 crore in the preceding June 2026 quarter.
Alpex Solar reported revenue from operations of ₹381.59 crore in Q2 FY27. The supplied results information states that this was 27.0% lower than the corresponding quarter a year earlier.
| Symbol | Watchlist | Price | Market Cap | P/E | P/B | Div Yield (%) | ROE (%) | ROCE (%) | ROA (%) |
247.25 | 2,512 Cr | 9.96 | 3.29 | 0.00 | 33.05 | 32.16 | 9.83 | ||
749.55 | 1,915 Cr | 11.42 | 3.62 | 0.00 | 35.87 | 27.50 | 12.11 | ||
67.36 | 1,521 Cr | 35.10 | 5.13 | 0.03 | 14.85 | 13.13 | 6.48 | ||
604.45 | 652 Cr | 8.16 | 2.47 | 0.09 | 37.95 | 27.38 | 6.92 | ||
213.00 | 429 Cr | 8.90 | 2.62 | 0.00 | 31.62 | 37.65 | 13.73 | ||
37.76 | 426 Cr | 18.33 | 2.31 | 1.21 | 11.95 | 15.16 | 7.75 | ||
| Median: 6 Co. | — | 230.13 | 1,087 Cr | 10.69 | 2.96 | 0.01 | 32.34 | 27.44 | 8.79 |
