Solar Modules Manufacturer Receives Order Worth Rs 349.99 Crore From Central Mine Planning and Design Institute Ltd
The stock is up by 59 per cent from its 52-week low of Rs 485 per share.
Alpex Solar Ltd, in consortium with NVNR Power & Infra Pvt Ltd, has been awarded a significant domestic order worth Rs 349.99 crore from the Central Mine Planning and Design Institute Ltd. (a subsidiary of Coal India Ltd.). This commercial order entails the design, engineering, procurement, supply, construction, fabrication, erection, installation, testing, and commissioning of a grid-connected ground-mounted solar power plant at Nandan Washery, Kanhan Area, with Alpex Solar holding a 70 per cent share of the total order value. The project is scheduled for completion within 540 days from the receipt of the purchase order.
Earlier, the company had secured a significant order worth Rs 378 crore (including GST) for the supply of solar modules from a Leading Industry Player. This domestic commercial order is scheduled for completion by March 2026, and Alpex Solar Limited will undertake the project according to the terms specified in the work order.
About the Company
Alpex Solar, founded in 1993 by the Sehgal family, specialises in manufacturing high-quality solar PV modules using advanced technologies like monocrystalline and polycrystalline cells. Their product range includes innovative solutions such as bifacial, mono-perc, and Halfcut modules. With a strong focus on customer satisfaction, Alpex also provides comprehensive solar energy solutions, including EPC services for AC/DC Solar Pumps and acts as a contract manufacturer for prominent companies like Jakson and Tata Power. Their solar panels are specifically designed to meet the needs of major EPC players such as Solarworld Energy Solutions and BVG India Limited. In 2007, Alpex established a cutting-edge manufacturing facility spanning 150,000 sq. ft. in Greater Noida. Currently boasting an 848 MW production capacity (as per MNRE notification), this can be significantly expanded to 2.4 GW.
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According to the half-yearly results, the net sales (including other income) increased by 30 per cent to Rs 265.66 crore and net profit increased by 150 per cent to Rs 25.07 crore in H1FY25 compared to H1FY24. In FY24, net sales increased by 112 per cent to Rs 412.60 crore and net profit increased by 611 per cent to Rs 26.56 crore compared to FY23.
On Monday, shares of Alpex Solar Limited hit a 5 per cent upper circuit to Rs 786.15 per share from its previous closing of Rs 748.75 per share. The company has a market cap of over Rs 1,900 crore with an ROE of 26 per cent and an ROCE of 27 per cent. The stock is up by 59 per cent from its 52-week low of Rs 485 per share.
Disclaimer: The article is for informational purposes only and not investment advice.