Alpex Solar Aims to Surpass INR 1,000 Crore Revenue Mark by March 2026

Alpex Solar Limited aims to surpass Rs. 1,000 crore revenue mark by March 2026. The company is banking on its ambitious expansion plan – increasing its capacity from 450 MW to 2 GW – to capitalise on the robust policy support by the Government of India and the rising demand for domestic solar installations.

The company has firmed up its capex plans, which will be funded through an SME public issue. Towards this, Alpex has appointed Corporate Capital Ventures Pvt. Ltd. as the Lead Manager.
 
Commenting on the growth potential, Ashwani Sehgal, Founder & Managing Director, Alpex Solar Limited, said, “With India at the epicentre of the green energy revolution, solar has emerged as a preferred category. Given our leadership, we are now setting sights on the next level of growth – both in terms of capacity and evolution to a publicly listed company. The Sun shines on the possibilities, and we are determined to excel by breaking into Rs. 1,000 crore+ club in the next three years”.
 
Giving more insights, Sehgal said, “Our operational revenue is projected to reach Rs. 400 crore in FY2024. We aim to surpass the Rs. 1,000 crore revenue threshold by March 2026, representing a 2.5-fold growth over the Rs. 400 crore forecast in FY2024.”
 
The company has clocked in a revenue of Rs. 207crore in H1FY2024 with an EBIDTA of Rs. 16.57 crore and PAT of Rs. 10 crores.
 
The company caters to marquee clients across the private and professionals, including Tata Power, Indian Oil, NTPC, Godrej, Power Grid, HAL, and Luminous, to name a few. Besides, the company’s products are factory-approved by various reputed organisations, including Tata Power Solar Systems, Redington, Luminous Power, Jakson Power and Government agencies such as NTPC, NLC, HAL, Power Grid and NHDC, CREDA, RHDS, PEDA, NABARD and HP Saur Sinchai Yojana, etc. The company is also a leading supplier of white-label Solar PV panels, with over 50,000 installations across the globe, including USA, Italy, Australia, Spain, Nepal, Germany, besides India.
 
Commenting on the growth potential, Mr. Ashwani Sehgal, Founder & Managing Director, Alpex Solar Limited, said, “With India at the epicentre of the green energy revolution, solar has emerged as a preferred category. Given our leadership, we are now setting sights on the next level of growth – both in terms of capacity and evolution to a publicly listed company. The Sun shines on the possibilities, and we are determined to excel by breaking into Rs. 1,000 crore+ club in the next three years”.
 
Giving more insights, Sehgal said, “Our operational revenue is projected to reach Rs. 400 crore in FY2024. We aim to surpass the Rs. 1,000 crore revenue threshold by March 2026, representing a 2.5-fold growth over the Rs. 400 crore forecast in FY2024.”
 
The company has clocked in a revenue of Rs. 207crore in H1FY2024 with an EBIDTA of Rs. 16.57 crore and PAT of Rs. 10 crore.
 
India’s solar photovoltaic (PV) module manufacturing capacity is likely to increase to over 60 GW by 2025 from the current level of 37 GW, with improved backward integration into cell and wafer manufacturing, according to a report by rating agency Icra.