Rs 1,278.84 crore order book: Solar modules manufacturer successfully concludes preferential issue; raises Rs 260.17 crore
DSIJ Intelligence-1 / 26 Sep 2025/ Categories: Multibaggers, Trending
The stock has given multibagger returns of over 140 per cent from its 52-week low of Rs 495 per share.
Alpex Solar Limited, a major player in India's solar PV module manufacturing sector, has successfully raised Rs 260.17 crore through a Preferential Issue of equity shares and warrants. This strategic capital injection, which attracted participation from investors including those with existing exposure to renewable energy, is specifically earmarked to fund the company's ambitious vision: transforming into an integrated solar cell and module manufacturer. This move signals a significant step towards self-reliance in its core components.
The immediate focus for the newly raised capital is aggressive expansion. Alpex Solar plans to more than triple its solar module manufacturing capacity from the current 1.2 GW to 3.6 GW by FY 2026-27. Crucially, the company is also developing solar cell manufacturing capability, aiming for a 1.6 GW cell capacity by the same fiscal year, with trial production of the first phase set to commence shortly. Furthermore, its 12,000 MTPA aluminium frame manufacturing facility is expected to become fully operational, bolstering its supply chain and integration efforts across its expanding sites, particularly the Kosi-Kotwan facility, where construction is accelerating.
This expansion comes amidst a period of strong business momentum, highlighted by substantial order wins. Alpex Solar recently secured three major EPC (Engineering, Procurement, and Construction) and product orders, including from prestigious clients like CMPDIL (a Coal India subsidiary) and HAREDA, valued collectively at Rs 1,069 crore. This robust demand, spanning PV modules and solar pumps, brings the company's total order book for FY26 to an impressive Rs 1,278.84 crore, underpinning the necessity and timeliness of the current capacity expansion plans.
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About the Company
Alpex Solar Ltd, established in 2008, is a prominent manufacturer of photovoltaic modules and a provider of comprehensive solar energy solutions, recognised as one of North India's largest PV Module manufacturers. The company's diverse business encompasses the manufacturing of solar PV modules, solar power plants, aluminium frames, IPP, GH2 systems, and AC/DC water pumps, alongside undertaking EPC (Engineering, Procurement, and Construction) projects. Beyond manufacturing, Alpex Solar also engages in trading various products, including circular knitting needles, yarn, air purifiers, water pumps, and solar panels, while offering a range of technical, administrative, consultancy, and financial services within the renewable energy sector, specifically for solar photovoltaic and hybrid energy systems.
The company has a market cap of over Rs 2,900 crore with an ROE of 48 per cent and an ROCE of 52 per cent. The stock has given multibagger returns of over 140 per cent from its 52-week low of Rs 495 per share.
Disclaimer: The article is for informational purposes only and not investment advice.