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Alpex Solar Ltd

Q2 FY26Electrical Equipment

Alpex Solar Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹816
Market cap₹2.0K Cr
P/E9.9
Updated23 Aug 2026
Read4 min read

Alpex Solar Ltd Q2 FY26 key numbers

Revenue
FY’26 revenue is estimated around Rs. 1800 to Rs. 2000 crores, with expectations of reaching Rs. 3600 to Rs. 4000 crores in FY’27.

As stated in Alpex Solar Ltd's Q2 FY26 earnings call transcript · published 6 Aug 2026. Reported figures, not investment advice.

The short version

The company targets a 2x growth trajectory, aiming to double revenue from around Rs. The company targets a doubling of revenues from approximately Rs.

From Alpex Solar Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • The company targets a 2x growth trajectory, aiming to double revenue from around Rs. 780 crores initially to approximately Rs. 3200 crores by FY’27.
  • FY’26 revenue is estimated around Rs. 1800 to Rs. 2000 crores, with expectations of reaching Rs. 3600 to Rs. 4000 crores in FY’27.
  • A 2.2 GW solar cell manufacturing capacity will be operational by FY’27, providing significant growth impetus and insulating business from competition.
  • Module capacity will increase to 3.6 GW by FY’27, supporting scaling volume production.
  • The firm plans to sustain 2x growth year-on-year and expand capacities further if market demand favors.

2 more points from Alpex Solar Ltd's call on revenue

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Profitability & Margins

See what Alpex Solar Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • The company is undertaking a significant capacity expansion, including a 2.2 GW solar cell manufacturing line coming up in two phases (1.4 GW and 0.8 GW), with the first phase expected to be operational from February-March.
  • An additional 1.2 GW solar module capacity line is expected to be fully operational by December.
  • Another 1.2 GW module capacity adjacent to the cell factory in Kosi is planned for the next financial year.
  • The total upcoming capacity will be 3.6 GW for modules and 2.2 GW for cells by the next financial year.
  • CAPEX is being funded largely from internal accruals, with EBITDA of approximately Rs. 25 crores monthly.
  • Peak debt related to expansion is estimated around Rs. 325-350 crores.

2 more points from Alpex Solar Ltd's call on capex

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Top-ranked in Electrical Equipment

Ranked on what management guided this quarter

Guidance-ranked
1Waaree Energies Ltd
Rev 1Mar 1
2MTAR Technologies Ltd
Rev 1Mar 1
3
Rev 1Mar 1
4
Rev 1Mar 2
5
Rev 1Mar 2
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what Alpex Solar Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

  • As of September 30, the announced order book position is approximately Rs. 1800 crore.
  • The current order book, including open orders yet to be executed in the second half, is estimated around Rs. 1600 to Rs. 1700 crore.
  • The company has already received Rs. 1800 crore in new orders in the first half of the financial year.

2 more points from Alpex Solar Ltd's call on order book

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Alpex Solar Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹672 Cr, net profit ₹53 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Alpex Solar Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Alpex Solar Ltd Q2 FY26 results?

The company targets a 2x growth trajectory, aiming to double revenue from around Rs. The company targets a doubling of revenues from approximately Rs.

What is Alpex Solar Ltd share price analysis?

Alpex Solar Ltd currently shows a neutral. The stock trades at a P/E of 9.9 with a market cap of ₹1,985 Cr. Investors should review the full earnings analysis for detailed insights.

Is Alpex Solar Ltd planning capital expenditure?

The company is undertaking a significant capacity expansion, including a 2.2 GW solar cell manufacturing line coming up in two phases (1.4 GW and 0.8 GW), with the first phase expected to be operational from February-March. - An additional 1.2 GW solar module capacity line is expected to be fully operational by December. - Another 1.2 GW module capacity adjacent to the cell factory in Kosi is planned for the next financial year. - The total upcoming capacity will be 3.6 GW for modules and 2.2 GW for cells by the next financial year. - CAPEX is being funded largely from internal accruals, with EBITDA of approximately Rs.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.