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Alpex Solar share price & results

Alpex Solar· Capital Goods· Industrials

Results to
Jun 2026
Latest analysed call
Q1 FY27
Ownership as of
Sept 2026

Integrated Indian solar manufacturer: PV modules, cells, aluminium frames, EPC projects and power generation (IPP).

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue503 ₹ crore+32.4% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin15.0 %−1.0 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit40.0 ₹ crore−4.8% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity51.58 %+5.0 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin-16.28 %−17.7 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)116.62 %+96.1 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

1 of 1 judged target kept · 12 open · verdicts reflect calls analysed to Q1 FY27.

Alpex Solar management guidance track record on Inve: 13 targets tracked across analysed earnings calls (1 achieved, 0 missed, 12 open).

TargetOriginal wordingSaidLatest callVerdict
FY26 Revenue Growthat least 100% growth for FY26
Call transcript, Q4 FY25 · 28 May 2025		Q4 FY25Q1 FY27:This was a target for a prior fiscal year and has been achieved. No new updates.
Call transcript, Q1 FY27 · 17 Aug 2026		Achieved
Cell Manufacturing Capacity (Phase 1)500 MW commercial production before March FY26
Call transcript, Q4 FY25 · 28 May 2025		Q4 FY25Q1 FY27:Timeline delayed again, with production now set to commence around September 15, 2026. The delay was attributed to a fire incident.
Call transcript, Q1 FY27 · 17 Aug 2026		Delayed
Total Cell Capacity1.6 GW
Call transcript, Q1 FY26 · 19 Aug 2025		Q1 FY26Q1 FY27:Reiterated the 2.2 GW capacity and provided a specific commissioning timeline of mid-September 2026.
Call transcript, Q1 FY27 · 17 Aug 2026		On Track

Source: Inve Guidance Tracker for Alpex Solar · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

12 of Alpex Solar's 13 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 10 more targets are in the full ledger.

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Price

₹695.85 +0.74% · +₹5.1

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −42.0% 1Y

₹0.8k₹1.0k₹1.2kOct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 4 Nov 2025Q3 FY26 — 12 Feb 2026Q4 FY26 — 25 May 2026Q1 FY27 — 17 Aug 2026

1Y: ₹1,200.7 on 24 Oct 2025 → ₹695.85. High ₹1,284.8 (3 Nov 2025), low ₹674.55 (23 Oct 2026).

Previous close
₹690.75
Market cap
₹1.8k Cr
52-week range
₹674.55 – ₹1,284.8
One year
−42.72%
Price to earnings (TTM to Jun 2026)
8.79×
Return on equity (TTM to Jun 2026)
51.58%

Overview

Symbol
NSE:ALPEXSOLAR
Industry
Industrials
Exchange
NSE
Currency
INR

What Alpex Solar does

Based on the company's own presentations, annual report and earnings calls.

Alpex Solar manufactures solar PV modules (G12R TOPCon, bifacial and Mono PERC types) and solar water pumps, and has backward-integrated into in-house aluminium frame manufacturing with a new solar cell plant under commissioning; it also runs an EPC (engineering, procurement and construction) business executing utility-scale and rooftop solar projects, and operates as an Independent Power Producer (IPP) developing and owning solar power assets under long-term Power Purchase Agreements. It additionally has a legacy international trading business dating to its 1993 origins. Manufacturing is concentrated in a cluster of units across Uttar Pradesh and Madhya Pradesh, serving PSUs, EPCs, corporates and global energy clients on a pan-India basis.

Segments

  • Solar Modules
  • Solar Cells
  • Solar Pumps
  • Aluminium Frames
  • EPC Solutions
  • Independent Power Production (IPP)
  • International Trading
Manufacturing units
7 (across Uttar Pradesh and Madhya Pradesh)
Total manufacturing footprint
1,000,000+ sq ft
Solar module manufacturing capacity
2.4 GW installed
Aluminium frame manufacturing capacity
12,000 MT
Independent Power Producer (IPP) capacity
100 MW
Solar pump installations experience
26,000+ installations
Founded 1993Headquarters B-79, Shivalik Enclave, Near Malviya Nagar, New Delhi 110017 Company website

How the price took the results

close before → close after

Q1 FY27
−0.5%
17 Aug
Q4 FY26
+3.0%
25 May
Q3 FY26
−3.8%
12 Feb
Q2 FY26
−0.8%
4 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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