Alpex Solar Limited — Investor Meet, 20-08-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Alpex Solar reported Q1 FY27 revenue of Rs. 500 Cr, EBITDA of Rs. 80 Cr, and PAT of Rs. 40 Cr, maintaining 15.5% EBITDA and 8% PAT margins. For FY26, revenue exceeded Rs. 2,200 Cr with PAT of Rs. 201 Cr. Management anticipates commissioning its 2.2 GW TOPCon G12R solar cell line mid-September, expecting first invoices shortly after. This backward integration is key for margin expansion (cells have 35-40% EBITDA) and long-term viability in the competitive module market. The company has also initiated 2.5 GW ingot and wafer manufacturing, targeting operational readiness by ALWM enforcement. FY28 revenue guidance stands at Rs. 4,000 Cr. The outlook for integrated players is strong, backed by government policy supporting domestic solar manufacturing. The firm is confident in sustaining better margins and is on track for main board migration post-February 15th.