Latest news with #AshwaniSehgal
Time of India
5 days ago
- Business
- Time of India
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).
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Business Standard
15-05-2025
- Business
- Business Standard
Alpex Solar bags ₹1,068.84 cr orders, key tie-up with Coal India arm
Greater Noida-based Alpex Solar on Thursday said it has secured orders worth Rs 1,068.84 crore from various companies, including Coal India arm Central Mine Planning and Design Institute Ltd and Haryana Renewable Energy Development Agency. Alpex Solar, in consortium with NVNR Power & Infra Ltd, has secured a Rs 349.99 crore order from Central Mine Planning and Design Institute (CMPDIL), a subsidiary of Coal India, the company said in a statement. The project encompasses design, engineering, procurement, supply, construction, fabrication, erection, installation, testing, and commissioning of a grid-connected ground-mounted solar power plant at Nandan Washery, Kanhan area, under Western Coalfields. Alpex Solar holds a 70 per cent stake in the consortium. Under the project, the consortium will also construct a 32kV double-circuit transmission line from the main control station to the feeding substation, along with requisite bay extension works. Additionally, the company recently won a contract worth Rs 210 crore for the supply of solar modules to the Solar Energy Corporation of India. The statement said that it has won a series of significant deal wins totalling Rs 823.85 crore. Further, the company said it secured a Rs 378 crore worth order for the supply of solar PV modules to a leading industry player during the first week of May 2025. Moreover, Alpex Solar received a Rs 65.33 crore contract from the Haryana Renewable Energy Development Agency. The order involves the supply of 2,119 solar water pumps. In April 2025, the company signed another major agreement worth Rs 380.52 crore for the supply of solar modules from a prominent Indian manufacturer. "The slew of orders bagged by us in the past few months is a testament to our comprehensive capabilities and commitment to excellence. Furthermore, with our recent order win, we have solidified our position as a formidable EPC player in the solar sector," Ashwani Sehgal, Managing Director at Alpex Solar, said.
Time of India
15-05-2025
- Business
- Time of India
Alpex Solar-led consortium bags ₹349.99 crore EPC contract from Coal India arm
New Delhi: Greater Noida-based Alpex Solar Ltd, in consortium with NVNR Power & Infra Ltd, has secured a ₹349.99 crore engineering, procurement and construction (EPC) contract from Central Mine Planning and Design Institute Limited (CMPDIL), a subsidiary of Coal India Limited. Alpex holds a 70 per cent stake in the consortium. The project involves design, engineering, procurement, supply, construction and commissioning of a grid-connected ground-mounted solar power plant at Nandan Washery in the Kanhan area under Western Coalfields Limited (WCL). The scope also includes construction of a 32kV double-circuit transmission line from the main control station to the feeding substation, along with bay extension works. The power generated will be used to supply various load centres within WCL through open access for captive consumption. Alpex Solar, which is listed on NSE Emerge, has announced multiple orders in recent months. These include a ₹210 crore order for supplying solar modules to Solar Energy Corporation of India (SECI), a ₹378 crore module supply contract to a leading industry player in May 2025, and a ₹65.33 crore order from Haryana Renewable Energy Development Agency (HAREDA) under the PM-KUSUM scheme for supplying 2,119 solar water pumps. In April 2025, Alpex secured a ₹380.52 crore order from a prominent Indian manufacturer for solar module supply. 'As one of the leading manufacturers of integrated solar systems, it has been our constant endeavour to provide cutting-edge solutions to companies operating in the renewable energy space. The slew of orders bagged by us in the past few months is testament to our comprehensive capabilities and commitment to excellence. Furthermore, with our recent order win, we have solidified our position as a formidable EPC player in the solar sector. The new order from CMPDIL is a testament to our exemplary efforts, ensuring that we continue to refine our capabilities to cater to the integrated opportunity ecosystem of solar energy, from manufacturing cells, modules, and frames to EPC services. We continue to be committed to creating value for our stakeholders – and building a globally-reputed institution going forward,' said Ashwani Sehgal, Managing Director, Alpex Solar. Alpex manufactures photovoltaic (PV) modules using both monocrystalline and TopCON cell technologies and offers EPC services for AC/DC solar pumps in both surface and submersible categories. The company recently incorporated a subsidiary, Alpex GH2 Private Ltd (AGPL), to enter the green hydrogen business .
