Alpex Solar: From ₹850 in May to Today - What’s Changed?
PK
On 21st May 2025, I wrote about Alpex Solar when the share price was around ₹850. Since then, the company has announced its Q1 FY26 results and some key expansion plans. Here’s a summary of what’s happened since then.
Q1 FY26 Financial Highlights
- Revenue from operations: ₹3,803 crore, up ~16% from last quarter and ~4.9x higher than the same quarter last year.
- Net profit: ₹425 crore, compared to ₹349 crore in the previous quarter and ₹106 crore in the same quarter last year.
- EPS: ₹17.38 versus ₹14.26 last quarter.
Strategic Developments
- Approved a new 1.2 GW solar module plant, which will take total capacity to 3.6 GW by FY27.
- Current order book for FY26 stands at ₹15,545 crore.
- Relocation of “Unit V” to be closer to “Unit I” for better operational efficiency.
- Planned ₹110 crore capex to be funded via internal accruals and credit facilities.
- Proposal to raise ₹261 crore through preferential allotment of equity and warrants (EGM on Aug 28, 2025).
Points to Watch
- Execution timelines for the new plant and capacity ramp-up.
- Possible short-term earnings impact from the upcoming preferential allotment.
- Continued policy support for the solar sector.
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