Alpex Solar Limited promoters have confirmed that no equity shares held in the company were encumbered during the financial year 2025-26. The disclosure, submitted to the National Stock Exchange of India Limited, covers all promoters and the promoter group along with persons acting in concert.

The declaration was made by Monica Sehgal, a promoter of Alpex Solar , on April 06, 2026. It confirms that no shares were pledged or encumbered directly or indirectly other than those previously disclosed during the financial year. The filing was made in compliance with Regulation 31(4) & (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.

The list of individuals and entities classified as promoters includes Ashwani Sehgal, Monica Sehgal, Vipin Sehgal, Ashwani Sehgal (HUF), Aditya Sehgal, and Krishma Machine Tools Pvt. Ltd. The document notes that Krishma Machine Tools Private Limited has changed its name to Zyconic Private Limited, with the demat account update currently under process.

Members of the promoter group identified in the filing include Anita Bhagwati Sikka, Udaya Sehgal, and Udaya Fibers Private Limited. The declaration was signed on behalf of all promoters and the promoter group.

[Alpex Solar](alpex solar) reported a 185% year-on-year increase in revenue to ₹2,223 crore for the financial year ended March 31, 2026, driven by strong demand for its solar modules. Profit after tax (PAT) rose 141% to ₹201 crore from ₹83 crore in the previous year, while EBITDA grew 155% to ₹327 crore. The company’s margins expanded significantly, with EBITDA margins reaching nearly 15% compared to 6.5% in FY23. For the fourth quarter, revenue stood at ₹671 crore and PAT at ₹53 crore.

The company’s growth was supported by its integrated manufacturing operations, which include solar modules, aluminum frames, and solar water pumps. Alpex Solar has a total module manufacturing capacity of 2.4 GW, which is set to increase to 3.6 GW. The management attributed the performance to operational efficiency and the benefits of backward integration.

Expansion Plans

Alpex Solar is advancing its backward integration strategy with a new 2.2 GW TOPCon solar cell manufacturing facility in Kosi, Uttar Pradesh. The plant, spread over 9 lakh sq. ft., is expected to commence commercial production within the next 90 days. The facility will use advanced LECO laser technology to produce cells with efficiencies up to 26.5%. The company has also announced plans to set up a 5 GW solar glass line and a 5 GW ingot and wafer manufacturing facility by FY2030.

Financial Highlights

Future Outlook

The company has provided a revenue guidance of exceeding ₹3,000 crore for FY27, supported by the upcoming cell line. Alpex Solar expects its EBITDA margins to improve further with the integration of cell manufacturing, targeting levels similar to industry peers of around 35% for the cell business. The company also plans to migrate to the main board of the stock exchange upon completion of the mandatory three-year listing period in February 2027.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0R4701017/21b9183fbcda441a.pdf