Alpex Solar Ltd
Alpex Solar Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q4 FY26 earnings call: what management guided on revenue, margins and order book.
What the Q4 FY26 call signalled
3 of 4 strong
Not discussed on this call: fundraise.
The short version
Alpex Solar aims to exceed its revenue guidance of Rs. Revenue for FY27 is guided to exceed Rs.
From Alpex Solar Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Alpex Solar aims to exceed its revenue guidance of Rs. 3,000 crores for FY27, boosted by the upcoming 2.2 GW cell line becoming operational within 90 days.
- The company targets to grow module capacity from 2.4 GW in FY26 to around 3.6 GW in FY27, with plans to further expand to 5 or 5.5 GW in coming years.
- Long-term focus includes backward integration into wafer, ingot, and glass manufacturing with 5 GW capacity targeted around FY30.
- The 2.2 GW cell capacity is expected to generate about Rs. 1,350 crores revenue from 1 GW at current TOPCon cell prices.
- EBITDA margins on cell business projected around 35%, with company-level EBITDA expected around 25%.
- Overall, Alpex envisions rapid growth fueled by government policies favoring domestic manufacturing and solar's increasing adoption as the least-cost, reliable power source in India.
Profitability & Margins
See what Alpex Solar Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Setting up a 2.2 GW TOPCon solar cell manufacturing line in Kosi, Uttar Pradesh, operational within the next 90 days.
- Planning a 5 GW solar glass manufacturing line targeted for FY2030.
- Planning a 5 GW wafer and ingot manufacturing facility expected around 2029-30.
- A 200 MW pilot wafer and ingot project planned to be operational by April 2027 to absorb technology.
- 2.5 GW manufacturing capacity of ingot and wafer to be operational by June 2028, with further expansions to follow.
- Expanding aluminum frame capacity from current 12,000 MT to double or triple within the year using internal accruals.
- Cell and module capacity expansions anticipated beyond the current 3.6 GW module line, potentially to 5-5.5 GW with newer technology.
- CAPEX for wafer and ingot (2.5 GW and further 2.5 GW) is under finalization; initial phases funded through internal accruals without loans.
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Ranked on what management guided this quarter
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Fundraising & Capital Structure
See what Alpex Solar Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current order book stands at around Rs. 1,900 crores.
- The company is deliberately not taking more orders currently to focus on capitalizing on the cell business.
- Guidance for FY27 order book is approximately Rs. 3,000 crores based on old estimates.
- The cell line becoming operational is expected to add significantly to the order book.
- The company anticipates surpassing previous guidance if good orders are received along with contributions from the new cell line.
Alpex Solar Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: 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 Q4 FY26 results?
Alpex Solar aims to exceed its revenue guidance of Rs. Revenue for FY27 is guided to exceed Rs.
What is Alpex Solar Ltd share price analysis?
Alpex Solar Ltd currently shows a strong growth signal based on ranking data. 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?
Setting up a 2.2 GW TOPCon solar cell manufacturing line in Kosi, Uttar Pradesh, operational within the next 90 days.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.