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Alpex Solar Reports 245 Percent Surge in Q3 FY26 Revenue to INR 648 Cr, PAT Rises 132 percent

Alpex Solar posted a 245.40 percent YoY jump in Q3 FY26 operating income to INR 648.08 crore and a 131.98 percent rise in PAT, driven by higher capacity utilisation and a strong order pipeline.

February 12, 2026. By Mrinmoy Dey

Solar panel manufacturer Alpex Solar has reported a 245.40 percent YoY growth in its operating income to INR 648.08 crore in Q3 FY26 from INR 187.63 crore in Q3 FY25. The company’s profit after tax (PAT) has soared to INR 54.27 crore in Q3 FY26, registering a 131.98 percent YoY growth.

In 9M FY26, the company’s operational revenue grew to INR 1551.32 crore, compared to INR 452.76 crore in 9M FY25. PAT stood at INR 148.24 crore, registering 207.85 percent year-on-year growth.

Alpex Solar reported an increase in capacity utilisation during the period, driving strong revenue growth supported by robust demand. During 9MFY26, the company strengthened its order book with large wins across module supply and EPC segments, including an INR 210.71 crore module supply order from Solar Energy Corporation of India (SECI) and an INR 349.99 crore EPC contract from Central Mine Planning and Design Institute Ltd, underscoring a diversified and expanding order pipeline across public and private sector clients, the company said.

Commenting on the financial results, Ashwani Sehgal, Managing Director, Alpex Solar, said, “Our Q3 and nine-month performance underscores the resilience of our business model and the effectiveness of our execution strategy. With capacity expansion on track, improving demand visibility and a strong pipeline of orders, we remain confident of delivering sustained growth in the coming quarters. We will continue to focus on technology upgradation, quality excellence and operational discipline to create long-term value for all stakeholders.”

He further added, “The Union Budget 2026 decision to exempt basic customs duty on sodium antimonate for solar glass manufacturing will lower input costs and enhance India’s competitiveness across the solar value chain. This targeted measure enables faster scale-up of domestic clean energy manufacturing and underscores the Government’s commitment to the energy transition and self- reliance. We remain focused on technology upgradation, quality excellence and operational discipline to deliver sustained value for all stakeholders.”

Alpex Solar operates multiple manufacturing facilities across Uttar Pradesh and Madhya Pradesh, offering an integrated portfolio that includes solar PV modules, solar cells, EPC solutions, solar pumps, and aluminium frames. The company’s current operations in Greater Noida are set to expand with six new manufacturing units across Greater Noida, Kosi-Kotwan in Uttar Pradesh, and Madhya Pradesh. Notably, the Kosi-Kotwan facility is witnessing accelerated construction as part of its ongoing solar cell and module capacity expansion, the company stated.

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Ashwani Sehgal