Alpex Solar to set up 1.2 GW solar module plant in Mathura

Alpex Solar Ltd will establish a 1.2 GW solar module manufacturing plant in Mathura, Uttar Pradesh, as part of its capacity expansion. The board has approved the project, which will raise total manufacturing capacity to 3.6 GWs. 

The facility, with an investment of Rs 110 crore funded through internal resources and credit, is scheduled to start operations in FY 2026–27.

The expansion comes after a sharp rise in Q1 FY 2026 performance. Net profit rose to Rs 42.29 crore from Rs 1.06 crore a year earlier. Revenue increased to Rs 382.58 crore from Rs 77.09 crore, while EBITDA rose to Rs 64.85 crore from Rs 4.31 crore. Basic earnings per share grew to Rs 17.28 from Rs 0.43.

Alpex Solar operates six manufacturing units in Greater Noida, Kosi-Kotwan, Eco-Tech, and Madhya Pradesh.