Alpex Solar Ltd has unveiled plans to establish a 1.2 GW solar module manufacturing facility in Mathura as part of its expansion strategy to meet the surging demand for renewable energy solutions. The move will boost the company’s total manufacturing capacity to 3.6 GW.
The ₹110 crore project, approved by the company’s board, will be funded through a mix of internal accruals and credit facilities. The plant is expected to be operational by FY2026-27.
The announcement follows a strong Q1 FY26 performance. Alpex Solar posted a consolidated net profit of ₹42.29 crore—a nearly 40-fold jump from ₹1.06 crore in Q1 FY25. Revenue soared 396% year-on-year to ₹382.58 crore, while EBITDA surged 1,403% to ₹64.85 crore. Basic EPS stood at ₹17.28, up from ₹0.43 in the same period last year.
“Our Q1 results reflect the strength of our business model and the growing demand for sustainable energy,” said Mr. Ashwani Sehgal, Managing Director, Alpex Solar Ltd. “With strong execution capabilities, a robust order book, and favorable policy tailwinds, we are confident in sustaining growth and becoming a leading solar module and cell manufacturer.”
To support its expansion, Alpex Solar will raise ₹261.16 crore via a preferential allotment of equity shares and warrants, subject to shareholder approval at an Extraordinary General Meeting scheduled for August 28, 2025.
The company reported robust order inflows worth ₹1,555.03 crore for FY26. Major contracts include ₹45 crore from MSEDCL for 2,000 solar water pumps under the Magel Tyal Saur Krushi Scheme, ₹210.71 crore from SECI for high-efficiency solar PV modules, ₹65.33 crore from HAREDA, and ₹244.99 crore from CMPDIL—representing a 70% share of a ₹349.99 crore tender. Additionally, ₹989 crore worth of contracts were secured from three leading manufacturers.
Alpex Solar, listed on NSE Emerge, currently operates six manufacturing units in India, located in Greater Noida (Unit 1), Kosi-Kotwan (Units 2–4), Eco-Tech, Greater Noida (Unit 5), and Madhya Pradesh (Unit 6).
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