Alpex Solar Ltd - Stock Valuation and Financial Performance

Alpex Solar Limited was originally incorporated on August 27, 1993 as a Private Limited Company as ‘Alpex Exports Private Limited’ under the provisions of the Companies Act, 1956 with the Registrar of Companies, Chandigarh. Subsequently, pursuant to a special resolution passed by the Shareholders at their Extraordinary General Meeting held on August 10, 2017, the name of the Company was changed to ‘Alpex Solar Private Limited’ and a fresh Certificate of Incorporation was issued on September 07, 2017 by Registrar of Companies, Delhi. Subsequently pursuant to a special resolution passed by the Shareholders at their Extraordinary General Meeting held on August 16, 2023, the company was converted from a Private Limited Company to Public Limited Company and consequently, the name of the Company was changed to ‘Alpex Solar Limited’ and a Fresh Certificate of Incorporation dated September 01, 2023 was issued to the company by Registrar of Companies, Delhi.

The company is a solar photovoltaic (PV) module manufacturer in North India. Its PV modules are manufactured using both monocrystalline and polycrystalline cell technologies. Its portfolio of solar energy products consists of bifacial, mono perc, Halfcut solar PV modules. It also provides integrated solar energy solutions, including engineering, procurement, construction (EPC) of AC/DC Solar Pumps in both Surface and Submersible categories.

It manufactures and delivers solar panels in the B2B space and also serves as a contract manufacturer for several large companies, including Luminous, Jakson, and Tata Power. Its solar panels are delivered to companies, with a specific focus on EPC companies such as Solarworld Energy Solutions Pvt Ltd, BVG India Limited, Tata Power, Hild Energy Private Limited, and Shakti Pumps India Limited. These companies install its solar panels at their clients’ locations after securing orders. As for solar water pumps, it targets the B2C segment. It begins by applying for tenders in respective states, and if it succeeds in winning the tender, it proceeds to assess the installation site and subsequently install solar water pumps at the designated locations.

Business area of the company

The company is engaged in the business of manufacturing & trading of solar panels in India.

Products of the company 

Manufacturer solar photovoltaic module

• Mono-crystalline solar modules
• Polycrystalline solar modules

EPC - AC/DC solar water pumps  

History and milestones

• 1993: Incorporation of the company.
• 2008: Entered in the business of Manufacturing of Solar PV panels.
• 2017: Achieved the Turnover of Rs 394 crore.
• 2019: Received Bureau of India Standard Licence, Registration number - R-93007480, for production of Crystalline Silicon Terrestrial Photovoltaic (PV) Modules.
• 2021: Obtain Approval for Manufacturing and Models of solar PV Modules from ALMM.
• 2021: Assessed and certified as meeting the standards of ISO 14001: 2015 Quality Management System vide Certificate No. KAEM202307012 issued by KVQA Assessment Private Limited.
• 2021: Assessed and certified as meeting the standards of ISO 45001: 2018 Quality Management System vide Certificate No. KAOH202307009 issued by KVQA Assessment Private Limited.
• 2021: Assessed and certified as meeting the standards of ISO 9001: 2015 Quality Management System vide Certificate No. KAQM202307016 issued by KVQA Assessment Private Limited.
• 2021: Obtain Certification for quality and reliability of PV Modules from ‘Solar PTL’ (US certified).
• 2023: Converted to Public Limited Company- consequently the name of the company was changed to ‘Alpex Solar Limited’.