Alpex Solar Secures ₹380.52 Crore Order from Leading Manufacturer; Shares Hit 5% Upper Circuit

Alpex Solar Limited (ASL) announced via a regulatory filing that it has received a significant purchase order from a leading manufacturer. Alpex Solar Limited disclosed to the stock exchanges that it has secured a substantial purchase order worth ₹380.52 crore from a reputed manufacturing company.

Expanding Capabilities in Renewable Energy

Alpex Solar Limited (ASL) forayed into the renewable energy space in 2005, initially diversifying into wind power generation as an independent power producer. It subsequently expanded into the manufacturing of solar photovoltaic (PV) panels. Over the years, ASL has emerged as one of the most trusted and reputable manufacturers of solar PV panels in the country.

The promoters, with more than 16 years of industry experience, have developed a deep understanding of market dynamics and cultivated strong relationships with both suppliers and customers. The company’s robust client base includes Luminous Power Technologies Pvt Ltd, Premier Energies Ltd, NTPC Ltd, Tata Power Solar Systems Ltd, Hindustan Aeronautics Ltd, as well as the state governments of Rajasthan, Punjab, Haryana, and Himachal Pradesh.

Additionally, ASL is currently undertaking a significant debt-funded capital expenditure to double its solar module manufacturing capacity. The expansion also includes backward integration initiatives for manufacturing solar cells, panels, and junction boxes. These developments are expected to further enhance the company’s market standing, strengthen revenue visibility, and support margin improvement. That said, timely completion of this capital expenditure project remains a key factor to watch.

Market Reaction: Share Price Hit Upper Circuit

As of 11:54 AM on April 23, 2025, the Alpex Solar share price surged to hit the 5% upper circuit limit. 

Read More: Stocks That Hit Circuit Limits On April 22, 2025: Alok Industries, Gensol, and Avalon, Among Others

About Alpex Solar Limited

Incorporated in 1993 and promoted by the Delhi-based Sehgal family, ASL manufactures solar PV modules and AC/DC water pumps, and sets up solar power plants. It also undertakes solar EPC projects. 

Conclusion

This latest order highlights Alpex Solar’s expanding reach and operational capability within the renewable energy space. While this development may be viewed as a positive business milestone. 

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