Alpex Solar Reports 173% Jump in Q2 Revenue, Net Profit Up 122% YoY

Indian solar module manufacturer Alpex Solar Limited on Friday reported strong financial results for the second quarter (Q2) of fiscal year 2025–26, with both revenue and profit more than doubling year-on-year.

The company posted a total income of Rs 524.27 crore in Q2 FY26, up from Rs 189.48 crore a year earlier, reflecting a year-on-year growth of 173%. On a quarter-on-quarter basis, revenue rose 37% from Rs 382.58 crore in Q1.

Profit Rises

Net profit climbed to Rs 52.57 crore, compared with Rs 23.71 crore a year earlier, marking an increase of 122%. Compared to the previous quarter’s profit of Rs 42.29 crore, profit rose about 24.3%.

Alpex Solar, which was traditionally focused on solar module manufacturing, has in recent years embarked on a broader plan of backward integration and capacity expansion. The company has announced plans to commission a 1.6 GW solar cell manufacturing line, marking a major step toward expanding its presence in upstream solar manufacturing at locations in Uttar Pradesh and Madhya Pradesh.

Increasing Footprints

In August 2025, Alpex Solar said it would establish a 1.2 GW solar module plant in Uttar Pradesh, which will increase its total module capacity to 3.6 GW once operational in FY 2026–27. The company has also won a consortium contract worth Rs 349.99 crore from a wholly owned subsidiary of Coal India Limited, further highlighting its growing capability to execute large-scale projects in India’s renewable energy sector.