Alpex Solar Limited is a leading solar energy company based in North India. They manufacture high-quality solar PV modules using cutting-edge monocrystalline and polycrystalline cell technologies. Their product range includes bifacial, mono-perc, and Halfcut solar PV modules.
In addition to manufacturing, Alpex provides comprehensive solar energy solutions, including engineering, procurement, and construction (EPC) services for AC/DC Solar Pumps. They cater to both B2B and B2C segments, serving as a contract manufacturer for prominent companies like Luminous, Jakson, and Tata Power while also targeting individual consumers with solar water pumps.
Manufacturing Facility:
Operating from a state-of-the-art facility in Greater Noida, with additional offices across various cities, Alpex Solar Limited employs 196 employees with over 15 years of industry experience. Their manufacturing unit boasts a capacity of 450MW, with plans for expansion to 1GW.
Recognised for their quality and reliability, Alpex's plant has been approved by reputable companies like Tata Power and government agencies such as NTPC and HAREDA.
Industry Outlook
- Alpex Solar Limited notes India's recent commitment to achieve net zero carbon emissions by 2070 and generate 50% of its electricity from renewables by 2030, marking a significant step in global climate efforts.
- Renewable power capacity in India has grown rapidly, with a 15.92% annual growth rate between FY16-22, and is expected to double by 2026.
- Government support and improved economics have made the renewable energy sector attractive to investors. With India's energy demand projected to reach 15,820 TWh by 2040, renewable energy will play a crucial role in meeting this demand.
Alpex Solar Limited IPO Details
Alpex Solar Limited IPO Dates
The IPO of Alpex Solar Limited is open for subscription from February 8, 2024, to February 12, 2024.
Alpex Solar Limited IPO's Price Band
Alpex Solar Limited’s IPO is a fresh issue IPO of up to ₹74.52 crore. It is a book-building issue. The price range is set to ₹109 to ₹115 per share.
Alpex Solar Limited IPO's Lot Size
The lot size for Alpex Solar Limited’s IPO is 1,200 shares with a minimum investment of ₹1,38,000.
Alpex Solar Limited IPO's Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding Capital Expenditure for upgrading and expanding our existing solar module manufacturing facility by increasing 750 MW.
- Funding Capital Expenditure towards setting up a new manufacturing unit for the Aluminum frame for our solar module.
- To Meet the Working Capital requirements of the company.
- For general corporate expenses.
Peer Details
As per RHP, Insolation Energy Limited, the only listed peer whose business portfolio is comparable to the company
How To Check the Allotment Status of Alpex Solar Limited’s IPO?
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- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
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Contact Details of Alpex Solar Limited
Registered office: B-79 Shivalik Enclave Near Malviya Nagar New Delhi -110017 India
Contact Person: Ms. Sakshi Tomar (Company Secretary and Compliance Officer)
Phone: +91 - 9971751589
E-mail: csalpex@alpexonline.com
IPO Financials
| Particulars | For the period Ended on September 30, 2023 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Total Income | 20,713.36 | 18,393.22 | 15,606.91 |
| EBITDA Margin (%) | 6.87% | 6.52% | 4.18% |
| Profit After Tax (PAT) | 1,002.97 | 374.61 | 7.05 |
| PAT Margin (%) | 3.57% | 1.94% | 0.12% |
| Cash & Cash Equivalents | 717.88 | 1,255.01 | 660.23 |
| Debt to Equity Ratio(x) | 0.85 | 1.14 | 0.71 |
| Return on Equity (%) | 16.69% | 9.55% | 0.52% |
| Return on Capital Employed (RoCE) (%) | 25.15% | 18.81% | 2.79% |
| Earning Per Share (EPS) in absolute ₹ | 5.57 | 2.08 | 0.04 |
Know before investing
Strengths
4The company is positioned in a well-developed industrial area with easy access to infrastructure, skilled labour, and transportation networks.
Boasts a seasoned management team with extensive experience in solar power, EPC, finance, and marketing, backed by knowledgeable promoters.
Maintains strong supplier relationships, ensuring timely delivery of quality raw materials and efficient supply chain management.
Benefits from government schemes like the Jawaharlal Nehru National Solar Mission, which promotes solar energy growth, reducing costs and increasing capacity.
Risks
4The company faces uncertainty regarding its ability to secure bids for solar water pump EPC projects, which could hinder its growth potential.
Unfavorable solar weather conditions could negatively impact the company's sales and financial performance, as demand for solar panels may decrease.
Alpex Solar Limited faces potential delays and cost overruns in setting up its proposed aluminum plant if machinery/equipment orders are not placed promptly or if vendors fail to deliver on time.
