Alpex Solar Limited IPO (Alpex Solar IPO) Detail

Today ALPEXSOLAR is trading far below listing price..
What exactly this means

What a fall..... Three days continuous disastrous fall

Although no chance but applying every IPO with belief as below:

Hum Honge Kamyab Hum Honge Kamyab
Hum Honge Kamyab Ek Din
Ohhh...mann Me Hai Viswas.. Pura Hai Viswas
Hum Honge Kamyab Ek Dinnn..

My own observation...
Whenever in public holding percentage of retail investor goes down and percentage of other investors comes in majority...
Then and then only stock definitely surges..
It is my personal opinion.... everyone should have to check rival grownup peers..
It is mandatory to disclose share holding pattern within 21days after ending Half Year or annual year in case of SME..

My Ipo amount Rs 138000 is still marked on lien and i already mail to registrar but have not received any response from his side, what can i do please anyone having knowledge please let me know My bank:- PNB

Anyone having an idea about this my query.।। Please let us know how can we unblock this and I already mails to registrar but he ia unable to reply me

UC broken. Should still hold or sell?

I'm holding. Fair value compared to peers is still 50% up from here

Note - I only bought at listing and plan to hold for a month or two, so short term volatility / downside is ok

But EPS is a mere 1.53

Bought few lots in PreOpen.... holding it for long term...
When compared with it's peers Insolation energy, solex it appeared reasonable by price
As per capacity of manufacturing and revenue prospects it is really good
So bought

How to but in PreOpen? ICICI Direct shows order rejected on trying to buy

Today I. e. On dtd. 16th March Alpex is trading with upper ckt @ 362.70
Now P. E. : 234
M. CAP: 888 Cr.
Number of buyers in queue : 1071600
Traded volume : 133200
Just study these datas

Now PE @362=58.3

FY 23 P.E = 230+

FY 24 P.E = 58

📌BOFA SECURITIES EUROPE SA Bought 2,20,800 shares of #alpexsolar at avg Rs.337.47 🔥🔥

📌Mr.Ashwani Sehgal (MD & promoter) of Alpex Solar Ltd✅ also serves as the President of the Indian Solar Manufacturers Association (ISMA)🔥 . Where he plays a pivotal role in advocating for government policies that favours solar manufacturers.😮

▪TATA Power✅ is a client for whom they WHITE LABEL manufacture the goods and Tata power has now committed to go big for the rooftop solar venture by the govt.🚀

➡Alpex was rated No. 7 in Photon Lab Test Report Germany (International Competition🔥) which had all the top manufacturers from across the globe. A huge achievement and validation of their attention to quality.

📌Rs. 12.95 cr. from IPO proceeds will be used for Capex on new aluminum frame unit🔥(saving ~10% of the frame cost✅), hence PAT margins will improve💫. (After aluminium framing, they plan to backward integrate into making junction boxes too
✅)

📍PE comparison:-
#Insolation energy PE: 120
#WAA Solar PE : 141
#australianpremiumsolar PE: 141
#adanigreen PE: 177
#Ahasolar PE: 82
#UrjaGlobal PE : 582
#alpexsolar PE :55 ✅
➡ Long runway ahead looking at these figures✅
(Very few companies leave so much on the table for the investors💫)

📌📌 ➡ ➡
▪Incorporated in August 1993, Alpex Solar ltd✅ is a manufacturer of Solar panels. The company uses monocrystalline and polycrystalline cell technologies.

▪The company offers a range of solar panel modules including bifacial, mono PERC, and Half-Cut module. The company offers solar energy solutions, including AC/DC solar pumps EPC for surface and submersible categories.

📍1. Manufactures- Solar Photovoltaic(PV) module.(77-87% Rev✅)

➡Benefits of Alpex modules:-
➢Compact design power range from 170W to 590W.💫
➢Increased durability with 4.0MM glass as opposed to 3.2MM industry standard.✅
➢Lower installation cost due to low weight and high efficiency modules.
➢Decreased ground area requirements due to high efficiency designs.

➡➡Quality Review :-
▪Life Span of Solar panels made by Alpex is claimed to be 25 years. Even after 25 years the power declines to about 80% but can still be continued to be used.🔥

▪The first panels they have installed 16-17 years ago are still working excellently.✅

📍2. Engineering, Procurement, Construction(EPC) of Solar PV Water Pumps (11-19 %Rev✅)

▪Installed over 10,000 water pumps all over India🔥🔥
▪Alpex Solar has successfully supplied and installed pumps under Haryana Renewable Energy Development Agency (HAREDA), Chhattisgarh State Renewable Energy Development Agency (CREDA), Punjab Energy Development Agency (PEDA), Rajasthan Agricultural Competitiveness Project (RACP) schemes. 🚀

📌Business Model:-
▪The company manufactures and delivers solar panels in the B2B space and for solar water pumps, it targets the B2C segment.✅

▪It currently operates from one manufacturing facility in Greater Noida✅, situated at Plot Number I-25, 26, 27, Surajpur Industrial Area, Site - V, Kasna, Greater Noida, and has additional offices located in various cities, including New Delhi, Haryana, Chhatisgarh, Mumbai, Ludhiana, Nalagarh (Himachal Pradesh), Jaipur, and Tirupur (Tamil Nadu).💫

▪The Company has received several quality certifications, including ISO 14001:2015, ISO 45001: 2018, and ISO 9001: 2015, all certified by KVQA Assessment Pvt Ltd.✅

▪Their Plant is approved✅ after undergoing rigorous quality and production process due diligence by numerous government and private companies, including Tata Power, Luminous Power, Jakson Power✅, as well as government agencies such as NTPC, NHDC, Haryana Renewable Energy Development Agency (HAREDA), Chhattisgarh State Renewable Energy Development Agency (CREDA), Punjab Energy Development Agency (PEDA), Rajasthan Agricultural Competitiveness Project (RACP), and HP Saur Sinchai Yojana.🔥 🔥

▪Alpex is factory approved vendor for NTPC(National Thermal Power Corporation), NLC(Neyveli Lignite Corporation), SECL(South Eastern Coalfields Limited), HAL(Hindustan Aeronautics Limited.) among many other IPPs who are now diversifying into Solar Power from Fossil Fuel power.🚀

▪Its manufacturing unit is equipped with world-class PV manufacturing lines from worldwide suppliers. The fully automatic robotic🔥 plants currently have a manufacturing capacity of 450MW✅, with plans to increase it to 1GW.🚀 (450MW existing + 750MW more by June 2024, so benefits will start accruing very quickly by Q2 of next FY)

▪They are starting their EPC division so that clients can get the complete Turnkey solution all in one place from Alpex.🚀

▪As of November 2023, the company has a total of 196 employees working across various departments.

📌📌
▪IPO price: Rs.115
▪IPO size: 74.52Cr (excluding anchor size is:53.3Cr)
▪CMP:Rs.345
▪Market cap: 840 Cr
▪P/E: 55✅ (Peers at 120+🔥😮)
▪EPS: 6.22
▪ROE: 9.55%
▪ROCE: 18.81%
▪RoNW: 9.55%
▪Debt/Equity:1.14
▪Assets: 141.88Cr
▪Total Borrowing: 41.75Cr (Reserves and Surplus:43.07Cr)
▪Share Holding Pre Issue: 93.53%
▪Share Holding Post Issue: 68.76%

📌FINANCIALS:
▪FY24H1 Rev: 213.1Cr🔥 (greater than whole FY23)
▪FY24H1 PAT: 7.6 Cr🔥 (greather than whole FY23)
▪FY23 revenue is 195.9 Cr as compared to 168.5 Cr(FY22), 17%✅ growth yoy.
▪FY23 PAT is 3.78 Cr as compared to 0.19 Cr(FY22), 1889%✅🔥 growth yoy.
▪20% growth in revenue in last 2 years.
▪31% growth in PAT in last 2 years.

(PAT margins of 2.13% (FY21), 0.12% (FY22), 1.94% (FY23), 3.57% (H1-FY24). ✅)

➡The reason for poor performance in past 2 years:-
➢The govt had imposed ban on Chinese goods from 1st April 2022. So there was OVER STOCKING of Chinese solar panels by all the customers. Hence there was just no demand for nearly 2 years.

▪ Also now inspite of anti dumping, they need a BIS certification to sell in India which basically ring fences the Indian module manufacturers.

▪60% of solar cells are now sourced from India and the balance 40% that they import from China, will also not be needed in about a year as they will source all the cells from India.🔥

📍REVENUE bifurcation:-

➢80% rev from Uttar Pradesh.

➢Govt: 19% ✅
➢Private: 81% ✅

➢Export: 1-2% (USA, UK, Nepal💫)
➢Domestic: 98-99%
(Plans to gear up exports soon and have appointed Head of Exports Division🔥)

▪working capital cycle: 40 days
(📍40 day cycle helps them recycle the funds and generate big top and bottom line even with a low ebitda✅)

📌IPO funds:
From the net proceeds of the fresh equity issue, it will utilize Rs. 19.56 cr. capex on upgrading and expansion of solar module manufacturing facility🔥, Rs. 12.95 cr. for capex on new aluminum frame unit, Rs. 20.50 cr. for working capital and the rest for general corporate purposes.

📌CLIENTS🔥:

📌SECTOR GROWTH:
▪The global solar power market size was valued at US$ 197.23 billion in 2021 and is expected to hit around US$ 368.63 billion by 2030, poised to grow at a CAGR of 7.2% during the forecast period 2021 to 2030.✅

▪India's energy demand is expected to increase more than that of any other country in the coming decades due to its sheer size and enormous potential for growth and development. Therefore, it is imperative that most of this new energy demand is met by low-carbon, renewable sources. India's announcement India that it intends to achieve net zero carbon emissions by 2070 and to meet 50% of its electricity needs from renewable sources by 2030 marks a historic point in the global effort to combat climate change.💫

▪As of October 2022, India’s installed renewable energy capacity (including hydro) stood at 165.94 GW, representing 40.6% of the overall installed power capacity. The country is targeting about 450 Gigawatt (GW) of installed renewable energy capacity by 2030 – about 280 GW (over 60%) is expected from solar🔥🔥.

▪With a potential capacity of 363 GW and with policies focused on the renewable energy sector, Northern India is expected to become the hub for renewable energy in India.✅

▪The solar energy market growth is driven by rise provision of government incentives and tax rebates in order to install solar panels and growing environmental pollution.

📌STRENGTH:

➢Strategically located manufacturing facility.✅
➢Well versed and equipped with advance technology.✅
➢Diverse product portfolio with focus on quality.
➢Experienced Promoter and management team with strong industry expertise and successful track record
( • They have a management team led by Promoter, Mr. Ashwani Sehgal, who has 34 years💫 of work experience. )

➢Strong supplier base for sourcing of raw materials/ products.
➢Certifications and Recognition.
➢Geographical Presence.

📌FUTURE PLAN:
▪Capital Expenditure towards upgradation and expansion of their existing solar module manufacturing facility and setting up of a new manufacturing unit for Aluminium frame for their solar module.💫
(➡Capacity expansion needs just machinery as they have enough space. So by June 2024 the expansion should be almost ready. The backward integration of Aluminium framing will be ready by about March 2025)

▪Capitalize on the growth opportunities available in the renewable energy sector.

▪Optimal Utilization of Resources.

📌Disclosure: Not a buy/sell recommendation. only for study and education purpose. Please consult your financial advisor before investing. Please stop investing blindly.🙏🙏

Hoping for a 🚀🚀🚀

It’s a long term portfolio stock

per the available datas Alpex Solar @345 the market capitalization is just 284 crore. The annual revenue is likely to be more than 400 crore. Therefore the M. C. of this Solar company may be around 1500-2000 crore. Which indicates everything to all of us.
Samjdar ko Ishara hi kafi hai, isn't it? 🥹🫤😍

​@abc xyz MCap is ~850 Cr at current price. But yes still leaves room to run up, fingers crossed

Added alpexsolar today at UC for long term.
(Added after seeing huge demand at UC✅)

➡️Will post detailed analysis tonight.🙏

Insolation energy PE 106
WAA SOLAR PE 141
AustralianPremSolar PE 141
Adani green PE 177
Ahasolar PE 82
Urja global PE 582😮
(All sourced from screener)

Alpex solar now at 55 🔥

BOFA SECURITIES EUROPE SA      BUY      2,20,800      (rs337.47)

Terrific listing. But too high a risk to hold it at 345. SELL

It seems a good run is still left in this script.

Alpex’s manufacturing process, characterized by stringent quality control and technological innovation, ensures the delivery of superior solar panels and systems. From raw material procurement to final dispatch, each step is meticulously executed to maintain the highest standards of quality and efficiency. It's a 16 year old company which exports Solar panel to various countries and now in Domestic market too.

( Note : Bought lots in Preopening session. )

How long we can hold this... With peers comparison it looks a good runup is still there, any price we can expect as benmark

How to buy in PreOpen?

Over rated

LC Confirm - Post Listing at 10 am

Agar UC Khulna hoga toh aaj khul jaega .. ni toh gayi bat 3-4 din par.. LC ke dar mai toh iski jagah rudra mai try Kiya but na woh Mila na yeh .

​@RPSM  No chance of LC for a couple of sessions. It is gonna fly high.

Booked profit at UC today. A dream became reality. I don't know if UC will continue. Can't take a risk to get stuck in LCs. Better to be content with your booked profits and the decision.

Reliance Securities shows allotted shares of Alpex in portfolio balance but not allowing to to put sell order.??

Bought this today in preopen.

Many!
Zerodha one of them

Prostocks also allows buying/selling SMEs.

Is it good to buy@345??? Many people had burnt their fingers chasing maxposure@145. plz advise senior members @lokes @Noorul @Tejas Pandya @Basuvr @diwan kapoor

Yes, just go for it but less chances to get it today!

Already has gone for 200℅ appreciation in pre listing..Sector is in demand..so can double from here in future.. But share market is always risky & sme's are unpredictable..
So wait.. for some correction..!!
Otherwise lot of possibilities are always remains in the market.. !!

Sold 1 lot in Upper circuit

Congrats for great profit, it would have great if you hold it but no worries!

Sold in pre-open

Great listing. Beyond every explanations and GMP. Again followed by upper circuit. + 200%. Very difficult for allotees to take decision who have yet not sold.
Take your own decision.
All the best.
Both the listings, Great day today. Difficult to get allotment. So lucky members, enjoy the day with family.
Try to donate some out of this profit.