Only Buyers In This Multibagger Solar Panel Stock; Locked In Upper Circuit From 3rd Straight Trading Session – Do You Own It?
The company has a market cap of Rs 2,317.4 crore with an ROE of 26 per cent and an ROCE of 27 per cent.
On Wednesday, shares of Alpex Solar Limited were locked in a 5 per cent upper circuit to Rs 946.90 per share from its previous closing of Rs 901.85 per share. The stock has been hitting the upper price band for 3rd straight trading session. The company has not made any significant announcements of late. Hence, the rally in the share price could be driven purely by the market forces.
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.
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Alpex Solar Limited has recently secured a substantial order worth Rs 277.19 crore from a major PSU for solar panel supply, adding to the previous order of Rs 247.96 crore, bringing the total contract value to Rs 525.15 crore. These projects, slated for completion by June 2025, involve the delivery of PV modules. In parallel, the company has approved a major expansion plan to establish a 1.6-gigawatt solar cell plant in Mathura, Uttar Pradesh. This ambitious project will be implemented in three phases, with the first phase targeting completion by October 2025. The subsequent phases will gradually increase capacity to 1 gigawatt by April 2026 and ultimately reach 1.6 gigawatts by September 2026. The company intends to finance this Rs 642 crore expansion through a mix of bank loans, internal funds, and equity investments.
The company has a market cap of Rs 2,317.4 crore with an ROE of 26 per cent and an ROCE of 27 per cent. The stock gave multibagger returns of over 300 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.