Alpex Solar Targets 2x Revenue Growth by FY26 - PTI
Nov 08, 2023 19:20
Alpex Solar, a leading Indian solar panel maker, aims to double its revenue to Rs 1,000 crore by FY26, driven by expansion plans and robust government support.
New Delhi, Nov 8 (PTI) 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".
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