Alpex Solar Announces Q Results and Provides Update on 2.2 GW G12R TOPCon Cell Manufacturing Facility
Alpex Solar Limited has released its Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026. The company provided an update on its expansion plans, confirming that commercial production at its advanced 2.2 GW G12R TOPCon Generation III Solar Cell manufacturing facility is expected to be delayed by approximately one month.The results reflect the progress of Alpex Solar as a leading integrated renewable energy platform focused on building a globally competitive solar manufacturing ecosystem in India.
Financial Performance Highlights (Quarter Ended June 30, 2026)
In its Unaudited Standalone Statement, revenue stood at ₹50,143.32 lakhs for the quarter ended June 30, 2026, compared to ₹66,891.74 lakhs in March 2026 and ₹38,033.32 lakhs in June 2025. The company reported a Profit for the year of ₹3,873.46 lakhs.The Consolidated Unaudited Financial Results also showed strong performance across the Group. Total Income reached ₹50,667.28 lakhs for the quarter ended June 30, 2026. The consolidated net profit attributable to the owners of the Company was ₹3,986.70 lakhs.
Key financial metrics from the respective statements are detailed in the table below:
| Particulars | Quarter Ended June 30, 2026 (Standalone) | Quarter Ended June 30, 2025 (Standalone) | Year Ended March 31, 2026 (Standalone) |
|---|---|---|---|
| Revenue from Operations | 50,143.32 lakhs | 38,033.32 lakhs | 2,21,816.36 lakhs |
| Total Income (I) | 50,511.66 lakhs | 38,261.40 lakhs | 2,22,572.90 lakhs |
| Profit for the Year (VII) | 3,873.46 lakhs | 4,252.91 lakhs | 20,377.95 lakhs |
| Basic Profit Per Share | 15.16 | 17.38 | 81.42 |
Segmental Revenue and Results
Alpex Solar operates across several segments, including Solar Panel, Solar Pump and EPC, Cell, and IPP. The segment financial results for the quarter highlight the performance of its key business lines:| Segment | Q Ended June 30, 2026 (Standalone) |
|---|---|
| Solar Panel Revenue | 42,499.70 lakhs |
| Solar Pump and EPC Revenue | 7,643.62 lakhs |
| Total Segment Revenue | 50,143.32 lakhs |
| Total Segment Results (PBIT) | 6,583.96 lakhs |
Operational Milestone: 2.2 GW TOPCon Manufacturing Facility Update
A significant project update involves the state-of-the-art 2.2 GW G12R TOPCon 3rd Generation Solar Cell manufacturing facility in Kosi, Uttar Pradesh. This plant represents one of the most significant capacity expansion initiatives undertaken by Alpex Solar, designed to strengthen its domestic manufacturing capabilities and support India's vision for energy self-reliance.The facility was originally anticipated to commence commercial production in September 2026. However, the company reported that due to supply chain and logistics disruptions affecting select imported equipment, coupled with a minor fire incident in July 2026, the commencement of commercial production is expected to be delayed by approximately one month from the previously envisaged timeline.
Despite this delay, the Management confirmed that project execution activities continue as planned, and no change is anticipated in the Company's strategic objectives or the overall viability of the project.
Capital Allocation and Private Placement Details
The company provided details regarding its capital utilization stemming from both its Initial Public Offering (IPO) and a subsequent preferential allotment.IPO Proceeds Utilization:
A total of ₹6,693.83 lakhs was raised through the IPO. The utilization up to June 30, 2026, stood at ₹6,601.33 lakhs across four key objectives:
| Object | Amount Disclosed | Actual Utilised Amount (up to Q3 FY26) | Unutilised Amount |
|---|---|---|---|
| Funding capital expenditure for upgradation and expansion of existing solar module manufacturing facility (750 MW) | 1,955.80 lakhs | 1,955.80 lakhs | NIL |
| Funding Capital Expenditure towards setting up new Aluminum frame unit | 1,294.65 lakhs | 1,202.15 lakhs | 92.50 lakhs |
| To Meet Working Capital requirements of the Company | 2,049.55 lakhs | 2,049.55 lakhs | NIL |
| General corporate purposes | 1,393.83 lakhs | 1,393.83 lakhs | NIL |
Preferential Allotment Utilization:
During the quarter ended September 2025, a preferential allotment of ₹26,116.18 lakhs was raised from investors. Of the total proceeds, which were intended for defined objectives, the utilization up to June 30, 2026 is as follows:
| Object | Amount Disclosed | Actual Utilised Amount (up to Q3 FY26) | Unutilised Amount |
|---|---|---|---|
| Construction of Building | 4,760.00 lakhs | 2,658.72 lakhs | 2,101.28 lakhs |
| Procurement, Installation & commissioning of Plant Machinery | 10,088.00 lakhs | 7,627.13 lakhs | 2,460.87 lakhs |
| Working Capital requirements | 5,000.00 lakhs | 5,000.00 lakhs | NIL |
| General corporate purposes | 6,169.00 lakhs | 941.01 lakhs | 5,227.99 lakhs |
The company noted that it has not recognized its share of current period losses amounting to INR 132.92 lakhs in Alpex NVNR Consortium because its investment interest in the joint venture stands at NIL.
ALPEXSOLAR Stock Price Movement
Today, Alpex Solar Limited shares rallied as they closed up 1.57% to settle at ₹777.10. The stock traded with a volume of 42,800 shares and moved within an intraday range bounded by ₹752.20 and ₹780.00.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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