Q2 2026 Alpex Solar Ltd Earnings Call Transcript

Nov 3, 2025 / 05:30 AM GMT

Release Date Price: ₹1274.75 (-0.78%)

Transcript

Key Points

Positve

Alpex Solar Ltd (NSE:ALPEXSOLAR) is on track with its capacity expansion plans, including a 2.2 gigawatt solar cell line and additional module capacity.
The company has a strong order book position with approximately 1,600 to 1,700 crore worth of orders, ensuring a steady revenue stream.
Alpex Solar Ltd (NSE:ALPEXSOLAR) is generating significant EBITDA, allowing for internal funding of expansion projects without the need for external financing.
The management team is experienced and well-regarded, with a strategic focus on backward and forward integration to enhance profitability.
The company is poised to benefit from the implementation of ALMM list 2, which will require local cell purchases, potentially increasing demand for its products.

Negative

There is increasing competition in the solar industry, with many new entrants expanding capacity, which could lead to market saturation.
The company faces margin pressures due to increased interest costs and additional manpower expenses related to capacity expansion.
Alpex Solar Ltd (NSE:ALPEXSOLAR) has a higher inventory and receivables, leading to negative operating cash flow in the first half of the year.
The company will still need to procure some cells externally, especially for non-DCR panels, which could impact margins.
There is uncertainty regarding future policy changes and market conditions, which could affect the company's growth trajectory and profitability.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ALPX.NS - Alpex Solar Ltd
Q2 2026 Alpex Solar Ltd Earnings Call
Nov 04, 2025 / 05:30AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning ladies and gentlemen, and welcome to the earnings conference call for Q2NH1F26 for Alex Solar Limited.

Let us now begin with the introduction of the management team. We have with us today Mr. Ashwini Segal, managing director. Mr. Ashwini Segal, a mechanical engineer from Punjab University, has been a stalwart and pioneer in the field of solar manufacturing and currently serves as the general secretary of the Indian Solar Manufacturers Association. ISMA, where he has also served as a President for 12 years and played a pivotal role in advocating for favorable government policies that benefit solar manufacturers. His impeccable reputation within the solar manufacturing industry has solidified his position as a respected

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