Financial Result: Alpex Solar Reports 265 Crore Revenue In H1

Alpex Solar

Greater Noida-based solar module manufacturer Alpex Solar has reported a total revenue of Rs 265. 66 crore for the half-year (H1) in FY25 ended on September 2024. The company reported a total revenue of Rs 213.07 crore in the H1 of FY24. Thus on a Year-on-Year (YoY) basis, the firm witnessed a rise in its total revenue by 24.67%.

The company’s net profit for H1 touched  25.12 crore, compared to the net profit of Rs. 7.61 crore in the H1 of FY24. This led to a surge in its profit by 229.87% on a YoY basis, the detailed shared by the firm in its filing said.

The company currently has a total module manufacturing capacity of 900 MW with 100 percent of its revenues coming from domestic sales (as of FY24). On a consolidated basis, the company. The company has planned to expand and take up its total solar module manufacturing capacity upto 2.4 GW. It also has a plan to launch 1.6 GW of solar cell manufacturing.

The company besides the production of solar equipment, meanwhile has planned to start the production of Aluminium frames. It also has planned 150 MW of EPC business and 100 MW of capacities as an Independent Power Producer (IPP).

The company has planned to produce solar cells at Kosi KOtwan. In the initial phase, the firm has planned to produce 500 MW of solar cells, which is slated to start from September 2025. On the other hand, another 1 GW of capacity will be added by April 2026. As per the plan, Alpex Solar will have a 1.6 GW of solar cell production capacity by September 2026.

Alpex Solar has planned two subsidiaries-Alpex Green Energies and Alpex Gh2 Private Limited. While Alpex Green Energies will look after the EPC and IPP business, Alpex GH2 Pvt Limited will be the Research and Development wing of the firm for hydrogen storage device.