Alpex Solar Limited, a leading name in India’s solar energy sector, is drawing investor attention with its ambitious ₹642 crore capital expenditure plan to expand its solar cell and module production facilities. The company offers solar solutions to residential, commercial, and utility-scale clients and is actively involved in EPC projects and component manufacturing.
Major Capex Announcement
Alpex Solar plans to invest ₹642 crore in its Kosi (UP) facility to double its solar module capacity and initiate solar cell manufacturing.
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Breakdown of the plan:
- ₹400 crore to be invested in FY26
- Module expansion to be completed by December 2025
- First phase of solar cell plant ready by March 2026
- Remaining ₹242 crore to be invested in FY27 for further capacity addition
Capacity Expansion Roadmap
- Current module production capacity: 1.2 GW
- Post-expansion target: 2.4 GW
- Solar Cell Plant: 1.6 GW capacity (500 MW to start in FY26)
- Additional facilities:
- Aluminum Frame Unit – 12,000 MT annual capacity
- EPC Services – To expand to 150 MW
- Power Generation – To grow to 100 MW by FY27
Strong Client Base
Alpex Solar is a trusted supplier for several top-tier companies, including:
- Tata Power
- NTPC
- Indian Oil
- Godrej
- Plus various government clients like HAL, Powergrid, SECI
Recent Major Orders
📦 Alpex Solar – Recent High-Value Orders
| Client/Entity | Project Type | Order Value |
|---|---|---|
| MSEDCL | Solar Pump Order | ₹45 Crore |
| SECI | PV Module Supply | ₹210 Crore |
| HAREDA | Solar Pump Order | ₹65 Crore |
| CMPDIL | Renewable Energy Order | ₹245 Crore |
| Private Sector (Multiple) | Mixed EPC & Modules | ₹758 Crore |
Strong Financial Growth
Quarterly Performance (Q4 FY24 vs Q4 FY25):
- Revenue: ↑ from ₹121 Cr to ₹327 Cr (↑170.25%)
- Net Profit: ↑ from ₹6 Cr to ₹35 Cr (↑483.33%)
5-Year CAGR:
- Revenue: 51.42%
- Net Profit: 94.26%
Key Financial Ratios:
- ROCE: 51.8%
- ROE: 48.1%
- EPS: ₹34.1
- Debt-to-Equity: 0.36x
FY26 Vision
The company has already secured ₹1,400 crore worth of orders within the first 50 days of FY26, including a notable ₹349 crore EPC contract from Coal India. Management plans to execute the entire order book within the financial year, showing strong confidence in demand and execution capability.
Stock Highlights
- Market Cap: ₹2,602.99 crore
- Current Share Price: ₹1,063.60 (slightly down 0.27%)
Given its momentum and strategic expansion, Alpex Solar is gaining attention as a potential multi-bagger in the renewable energy sector.
Conclusion
Alpex Solar Limited stands out as a rapidly growing, credible player in India’s clean energy space. Its large-scale expansion, growing client portfolio, and robust financials make it a stock worth tracking closely. As the demand for sustainable energy rises, Alpex is positioning itself to play a major role in the country’s green future.
