4 days ago
Alpex Solar to set up 1.2 GW module plant in Mathura, total capacity to reach 3.6 GW
New Delhi:
Alpex Solar
Ltd will set up a 1.2 GW
solar module manufacturing
facility in Mathura, Uttar Pradesh, taking its total module manufacturing capacity to 3.6 GW.
The company's board has approved the ₹110 crore project, which will be funded through internal accruals and credit facilities. The new plant is expected to be operational by FY2026-27.
The expansion follows strong financial results in the first quarter of FY26. The company posted a consolidated net profit of ₹42.29 crore in Q1FY26, compared with ₹1.06 crore in the same period last year. Revenue rose 396% year-on-year to ₹382.58 crore from ₹77.09 crore, driven by higher demand and improved operational efficiency. EBITDA stood at ₹64.85 crore, up 1,403% from ₹4.31 crore a year earlier. Basic earnings per share rose to ₹17.28 from ₹0.43 in Q1FY25.
'Our performance in Q1 FY26 reflects the resilience of our business model and the growing demand for
sustainable energy solutions
. Supported by our strong execution capabilities and an expanding order book, we remain focused on scaling our operations, enhancing efficiency, and delivering long-term value for our stakeholders. With favourable policy tailwinds and a robust project pipeline, we are confident of sustaining our growth momentum in the quarters ahead and become an integral solar module and solar cell manufacturer,' said Ashwani Sehgal, Managing Director, Alpex Solar Ltd.
To fund the growth, the company is raising ₹261.16 crore through a preferential allotment of equity and warrants, approved in its board meeting on August 6, 2025. An Extraordinary General Meeting will be held on August 28 to seek members' approval.
Alpex Solar has secured an order inflow of ₹1,555.03 crore for FY26. The portfolio includes ₹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, the company received contracts worth ₹989 crore from three leading manufacturers.
Alpex Solar, listed on NSE Emerge, currently operates six manufacturing units in Greater Noida (Unit 1), Kosi-Kotwan (Units 2–4), Eco-Tech, Greater Noida (Unit 5), and Madhya Pradesh (Unit 6).
