Multibagger Stock: Since its listing in February 2024, Alpex Solar Ltd (NSE – SME: ALPEXSOLAR) shares have given investors over 500% return in just four months. Alpex Solar Ltd shares hit an upper circuit of 5% and are trading at Rs 806.60.
Let us tell you that its IPO price was fixed at ₹ 115. That is since then it has given a strong return of 535%.
Let us tell you that the company’s shares had a tremendous listing. It was reported that the Alpex Solar Ltd share price was the equivalent of 345.4 rupees for each share, based on NSE SME.
What’s The Reason Behind The Growth In Shares?
Based on the information available on the company’s website, Alpex Solar Ltd is a world-class manufacturer of high-performance PV modules and solar panels that lead the market, while remaining cost-effective.
The company aims to make its mark in the field with the latest technology and a well-trained staff.
Recently, Alpex Solar Ltd unveiled an ambitious expansion plan to build a 1.2 GW greenfield facility at Kosi Kotwan Mathura.
According to the IPO plan, the company is currently expanding its capacity at the Surajpur, Greater Noida facility, which will increase capacity to up to 750 MW by FY25.
The business is projected to have a capacity of 2.4 GW by FY26, allowing it to meet growing demand in India and other globally important markets.
On March 1, the firm was awarded a contract worth 43.70 crores rupees from Haryana’s New & Renewable Energy Department and HAREDA, Panchkula for the installation, supply, in addition to commissioning, of 1434 solar water systems.
March Quarter Results
Alpex Solar Ltd’s FY24 revenue grew 121% to ₹404.43 crore. The company’s EBITDA grew 206% to ₹37.58 crore in FY24, while net profit grew 680% to ₹29.05 crore.
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