Alpex Solar has announced plans to establish a 1.2-gigawatt (GW) solar module manufacturing facility in Mathura, Uttar Pradesh, taking its overall capacity to 3.6 GW.

The new plant, estimated at Rs 1.10 billion, is expected to commence operations in FY27 and will be financed through internal accruals and credit facilities, the company said.

The expansion comes on the back of strong quarterly results. Alpex posted a consolidated net profit of Rs 422.9 million in Q1 FY26, compared with Rs 10.6 million in the year-ago quarter. Revenue rose 396 per cent to Rs 3.83 billion, while EBITDA surged to Rs 648.5 million from Rs 43.1 million.

To further strengthen its growth plans, the company aims to raise Rs 2.61 billion via preferential allotment of equity and warrants, subject to shareholder approval at its extraordinary general meeting on August 28.

Alpex has an order book worth Rs 15.55 billion for FY26, comprising contracts from Maharashtra State Electricity Distribution Company, the Solar Energy Corporation of India, Haryana Renewable Energy Development Agency, CMPDIL and three large manufacturers.

The NSE Emerge-listed company currently operates six units across Greater Noida, Kosi-Kotwan, Eco-Tech Greater Noida and Madhya Pradesh.

News source: Saur Energy