Alpex Solar eyes over two-fold growth in revenues by FY26: MD Sehgal

Solar panel maker Alpex Solar is aiming for more than two-fold jump in its revenues to Rs 1,000 crore by financial year 2025-26, the company's Managing Director Ashwani Sehgal said.

The company has set a revenue target of Rs 400 crore for the ongoing 2023-24 fiscal, Sehgal said in a company statement on Wednesday.

"Our revenue is projected to reach Rs 400 crore in FY24. We aim to surpass the Rs 1,000 crore revenue threshold by 2026, representing a 2.5-fold growth over the forecast in FY2024," the MD said in the statement.

The company had clocked in a revenue of Rs 180 crore in preceding FY 2022-23.

UP-based Alpex Solar is a leading solar panel manufacturing company in India.

To achieve the revenue targets, the company said it "is banking on its ambitious expansion plan increasing its capacity from 450 MW to 2 GW to capitalise on the robust policy support by the government and rising demand for domestic solar installations".