Multibagger Solar Panel Stock Locked In Upper Circuit As Company Bags Orders Worth Rs 525,15,00,000 From A Leading PSU
The stock gave multibagger returns of 329 per cent from its 52-week low of Rs 235 per share.
On Wednesday, shares of Alpex Solar Limited were locked in a 5 per cent upper circuit to Rs 1,008.15 per share from its previous closing of Rs 960.15 per share.
Alpex Solar Limited announced that it has secured an additional order worth Rs 277.19 crore from a leading Public Sector Undertaking (PSU) for the supply of solar panels. This new order, coupled with a previous order of Rs 247.96 crore received from the same PSU, brings the total contract value to Rs 525.15 crore. The projects are scheduled to be completed by June 2025 and will involve the supply of PV modules.
Additionally, Alpex Solar Limited’s Board of Directors has given the green light to a significant expansion project involving the installation of a 1.6-gigawatt solar cells plant in Mathura, Uttar Pradesh. This ambitious plan will be executed in three phases, with the first phase expected to be completed by October 2025. The subsequent phases will gradually increase the plant's capacity, reaching 1 gigawatt by April 2026 and ultimately reaching the full capacity of 1.6 gigawatt by September 2026. To fund this expansion, the company will utilize a combination of bank loans, internal funds, and equity investments, with the total estimated cost of the project amounting to Rs 642 crore. This strategic move is motivated by the growing demand for solar panels in India, as the government prioritizes renewable energy sources and aims to achieve self-sufficiency in the energy sector.
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About the Company
Alpex Solar Limited, founded in 1993, is a leading player in the solar energy industry, specializing in manufacturing monocrystalline and polycrystalline solar panels. The company operates in both solar panel manufacturing and EPC of solar water pumps. Alpex Solar produces high-quality solar PV modules for B2B customers and as a contract manufacturer for prominent companies, with a manufacturing capacity of 450 MW. Leveraging its in-house solar panels, the company offers EPC services for AC/DC solar water pumps, having installed over 4000 systems. Committed to quality, Alpex Solar holds ISO 14001, ISO 45001, and ISO 9001 certifications and strategically locates its manufacturing facilities across India. The company's backward integration plans, such as setting up an aluminium frame manufacturing facility, reflect its strategic approach to growth and sustainability.
The company has a market cap of over Rs 2,667.29 crore with an ROE of 26 per cent and an ROCE of 27 per cent. The stock gave multibagger returns of 329 per cent from its 52-week low of Rs 235 per share. Investors should keep an eye on this solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.