Solar Stock Hii Upper Circuit After Bagging Order Worth Rs 380.52 Crore From A Leading Manufacturer
The stock is up by 65 per cent from its 52-week low of Rs 485 per share.
Alpex Solar Ltd, a prominent player in the solar energy sector, is renowned for its high-quality PV modules and comprehensive solar systems, securing a prestigious commercial order valued at ₹380.52 Crores (inclusive of GST) for the supply of its high-quality solar modules. This domestic order, received from a leading manufacturer, signifies a substantial boost for the company, with the project slated for completion by March 2026.
About the Company
Alpex Solar, founded in 1993 by the Sehgal family, specialises in manufacturing high-quality solar PV modules using advanced technologies like monocrystalline and polycrystalline cells. Their product range includes innovative solutions such as bifacial, mono-perc, and Halfcut modules. With a strong focus on customer satisfaction, Alpex also provides comprehensive solar energy solutions, including EPC services for AC/DC Solar Pumps and acts as a contract manufacturer for prominent companies like Jakson and Tata Power. Their solar panels are specifically designed to meet the needs of major EPC players such as Solarworld Energy Solutions and BVG India Limited. In 2007, Alpex established a cutting-edge manufacturing facility spanning 150,000 sq. ft. in Greater Noida. Currently boasting an 848 MW production capacity (as per MNRE notification), this can be significantly expanded to 2.4 GW.
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According to the half-yearly results, the net sales (including other income) increased by 30 per cent to Rs 265.66 crore and net profit increased by 150 per cent to Rs 25.07 crore in H1FY25 compared to H1FY24. In FY24, net sales increased by 112 per cent to Rs 412.60 crore and net profit increased by 611 per cent to Rs 26.56 crore compared to FY23.
On Wednesday, shares of Alpex Solar Limited were locked in a 5 per cent upper circuit to Rs 800.25 per share from its previous closing of Rs 762.15 per share. The company has a market cap of over Rs 1,900 crore with an ROE of 26 per cent and an ROCE of 27 per cent. The stock is up by 65 per cent from its 52-week low of Rs 485 per share. Investors should keep an eye on this solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.