Greater Noida-based Alpex Solar Ltd, an NSE Emerge-listed solar systems manufacturing company, has reported consolidated operational revenues of INR 780.15 crore for FY 2025, an 89.1% increase year-on-year from INR 412.60 crore in FY24.
EBITDA surged by 231.8% to INR 128.15 crore with EBITDA margin improving to 16.4% in FY25. Profit after tax (PAT) grew by 187% to INR 83.48 crore in FY25 compared to INR 29.09 crore in FY24.
For Q4 FY25, the company’s PAT surged 462% year-on-year to INR 35.32 crore, while quarterly operational revenue jumped 171.4% to INR 327.39 crore.
“2024-25 was a pivotal year for the company. We set our sights on an audacious vision that comprises building scale in our existing product verticals and venturing into solar cell manufacturing, thereby marking a significant shift in our capabilities,” said Ashwani Sehgal, managing director, Alpex Solar Ltd. “We concluded a dominant part of the issue objectives, while navigating a challenging yet rewarding demand landscape for solar modules in FY25. The results reflect the tenacity of our efforts, with higher double-digit growth compared to the previous year.”
Alpex Solar currently operates six units across Greater Noida, Kosi-Kotwan, Sikandrabad, and Madhya Pradesh. The company’s current manufacturing capacity of solar modules stands at 1.2 GW, which is set to expand to 2.4 GW with an ongoing expansion. In FY 26, it will also commence commercial production of the first phase, comprising 500 MW of solar cells, out of the total 1.6 GW project. Additionally, the aluminium frame facility, with a capacity of 12,000 MT per year, will enter production during the current financial year.
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