Alpex Solar Reports 32% Revenue Growth in Q1 FY27 as Solar Cell Manufacturing Facility Nears Production

Alpex Solar Limited has reported a 32.37% year-on-year increase in operating revenue to ₹503.42 crore for the first quarter of FY27, supported by higher demand, market expansion and stronger distribution channels.

The company’s operating revenue stood at ₹380.32 crore in Q1 FY26. Alpex Solar attributed the growth to strategic sales initiatives, improved market penetration and sustained demand across its business segments.

EBITDA increased 20.92% YoY to ₹78.43 crore, compared with ₹64.86 crore in the corresponding quarter last year. The company said improved operational efficiency, streamlined processes, disciplined cost controls and stronger supply chain management supported EBITDA growth.

Profit After Tax (PAT), however, declined to ₹39.86 crore in Q1 FY27 from ₹42.29 crore in Q1 FY26. Earnings per share (EPS) stood at ₹15.61 during the quarter.

The quarter also marked progress in Alpex Solar’s expansion into integrated solar manufacturing. The company’s 2.2 GW G12R TOPCon third-generation solar cell manufacturing facility at Kosi Kotwan, Mathura, is ready to commence production.

Alpex Solar has also submitted an application to the Ministry of New and Renewable Energy (MNRE) for inclusion of the 2.2 GW TOPCon G12R solar cell manufacturing facility in ALMM List-II. The application has been acknowledged and is currently under evaluation.

The company said inclusion in the ALMM list would strengthen its position in India’s domestic solar manufacturing ecosystem and support greater participation in government-backed and utility-scale solar projects.

Ashwani Sehgal, Managing Director of Alpex Solar, said the company has started FY27 with strong execution and sustained demand, while continuing to focus on expanding manufacturing capacity and strengthening backward integration.

With a healthy order book and its solar cell manufacturing facility nearing commercial production, Alpex Solar said it remains focused on strengthening its position as an integrated renewable energy company and sustaining its growth momentum.