Alpex Solar Limited — Investor Meet, 10-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Alpex Solar's H1 FY26 results surpassed FY25. Management expects 2x growth next year, exceeding their Rs 1500 Cr annual revenue guidance, with ~Rs 1600-1700 Cr in open orders.

Key operational updates: First phase (1.4 GW) of their 2.2 GW TOPCon cell line starts production by Feb-Mar. An additional 1.2 GW module line is operational by December, targeting 3.6 GW total module capacity by next August. This backward integration, especially into G12R TOPCon cells (a first in India), is projected to boost blended EBITDA margins to over 29-30%. Strategic vertical integration drives sustained growth.