Price
Financials
Consolidated, Rs crore| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 79 | 121 | 77 | 188 | 188 | 327 | 380 | 523 | 648 | 672 | 503 |
| Expenses | 71 | 106 | 73 | 158 | 151 | 274 | 318 | 445 | 558 | 583 | 429 |
| Operating Profit | 8 | 14 | 4 | 31 | 37 | 54 | 63 | 78 | 90 | 89 | 75 |
| OPM % | 10% | 12% | 5% | 16% | 20% | 16% | 16% | 15% | 14% | 13% | 15% |
| Other Income | 0 | -5 | 0 | 1 | 1 | 1 | 2 | 2 | 0 | 4 | 4 |
| Interest | 2 | 1 | 2 | 1 | 2 | 2 | 3 | 3 | 6 | 10 | 15 |
| Depreciation | 1 | 1 | 1 | 1 | 3 | 3 | 4 | 4 | 7 | 9 | 10 |
| Profit before tax | 6 | 8 | 1 | 29 | 32 | 49 | 57 | 72 | 77 | 74 | 54 |
| Tax % | 21% | 17% | 29% | 19% | 28% | 28% | 26% | 27% | 29% | 28% | 26% |
| Net Profit | 5 | 6 | 1 | 24 | 23 | 35 | 42 | 53 | 54 | 53 | 40 |
| EPS in Rs | 2.51 | 2.57 | 0.43 | 9.69 | 9.56 | 14.43 | 17.28 | 20.62 | 21.25 | 20.86 | 15.61 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 98 | 149 | 166 | 195 | 413 | 780 | 2,223 | 2,346 |
| Expenses | 91 | 140 | 161 | 183 | 375 | 654 | 1,904 | 2,015 |
| Operating Profit | 7 | 9 | 5 | 12 | 37 | 126 | 319 | 331 |
| OPM % | 7% | 6% | 2.7% | 6% | 9% | 16% | 14% | 14% |
| Other Income | 2 | 1 | 2 | 1 | 6 | 3 | 8 | 10 |
| Interest | 4 | 4 | 4 | 5 | 6 | 8 | 23 | 35 |
| Depreciation | 2 | 2 | 3 | 2 | 3 | 8 | 24 | 30 |
| Profit before tax | 3 | 4 | 0 | 5 | 34 | 112 | 279 | 277 |
| Tax % | 5% | 9% | 39% | 29% | 22% | 26% | 28% | |
| Net Profit | 3 | 3 | 0 | 4 | 27 | 83 | 202 | 200 |
| EPS in Rs | 10.86 | 34.11 | 78.89 | 78.34 | ||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 72% | 125% | 117% | ||
| Compounded Profit Growth | % | 132% | 276% | 61% | ||
| Stock Price CAGR | % | % | % | -25% | ||
| Return on Equity | % | 43% | 47% | 52% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 6 | 24 | 24 | 26 |
| Reserves | 29 | 31 | 32 | 35 | 106 | 192 | 536 |
| Borrowings | 20 | 30 | 27 | 47 | 49 | 79 | 537 |
| Other Liabilities | 23 | 32 | 36 | 37 | 50 | 178 | 286 |
| Total Liabilities | 78 | 99 | 100 | 126 | 230 | 474 | 1,384 |
| Fixed Assets | 13 | 20 | 17 | 17 | 31 | 78 | 168 |
| CWIP | 7 | 1 | 2 | 4 | 0 | 23 | 175 |
| Investments | 5 | 4 | 4 | 3 | 2 | 2 | 1 |
| Other Assets | 53 | 75 | 77 | 100 | 197 | 371 | 1,040 |
| Total Assets | 78 | 99 | 100 | 126 | 230 | 474 | 1,384 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 7 | 2 | -1 | -7 | -5 | 69 | -116 |
| Cash from Investing Activity | -1 | -8 | 6 | -9 | -17 | -82 | -437 |
| Cash from Financing Activity | -6 | 7 | -6 | 17 | 46 | 16 | 553 |
| Net Cash Flow | 1 | 0 | -1 | 2 | 23 | 3 | 0 |
| Free Cash Flow | 8 | -1 | -2 | -12 | -9 | 11 | -447 |
| CFO/OP | 116% | 28% | 6% | -58% | -10% | 65% | -21% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 57 | 35 | 37 | 35 | 63 | 58 | 42 |
| Inventory Days | 94 | 93 | 110 | 115 | 42 | 62 | 73 |
| Days Payable | 79 | 69 | 56 | 53 | 39 | 67 | 41 |
| Cash Conversion Cycle | 73 | 58 | 91 | 97 | 65 | 53 | 74 |
| Working Capital Days | 31 | 25 | 46 | 23 | 48 | 35 | 37 |
| ROCE % | 13% | 7% | 14% | 26% | 51% | 44% |
| Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Promoters | 68.76% | 68.76% | 68.76% | 68.76% | 65.89% | 65.89% | 65.90% | 65.90% |
| FIIs | 4.86% | 0.73% | 1.48% | 1.67% | 2.99% | 3.42% | 3.21% | 3.13% |
| DIIs | 1.82% | 0.42% | 0.26% | 0.27% | 0.34% | 0.40% | 0.41% | 0.40% |
| Public | 24.55% | 30.09% | 29.50% | 29.29% | 30.79% | 30.30% | 30.48% | 30.58% |
| No. of Shareholders | 2,224 | 4,544 | 5,730 | 6,010 | 6,397 | 7,354 | 8,032 | 8,517 |
Fundamentals
Market Cap₹ 2,210 Cr.
Current Price₹ 865
Stock P/E11.0
Book Value₹ 220
ROCE43.5 %
ROE52.0 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)117%
Compounded Profit Growth (TTM)61%
Consolidated figures.
Valuation
Market capRs 2,103 Cr
Enterprise valueRs 2,138 Cr
P/E (TTM)10.51x
Price to book50.70x
Price to sales0.90x
EV / EBITDA6.27x
EV / EBIT6.87x
EV / sales0.91x
Earnings yield9.51%
Profitability
Operating margin (excl. other income)5.92%
Operating margin (incl. other income)6.56%
EBITDA margin14.53%
Pre-tax margin11.79%
Net profit margin8.53%
Net margin, latest quarter7.92%
ROE9.58%
ROCE13.99%
ROA3.36%
ROE, 3-year average6.27%
ROCE, 3-year average11.17%
ROA, 3-year average2.37%
ROIC (approx.)290.91%
Tax rate28.68%
Other income / net worth2.99%
Growth
Sales growth (latest year)17.59%
Profit growth (latest year)1894.74%
Sales CAGR, 3 years25.61%
Profit CAGR, 3 years6.02%
Sales growth QoQ-25.08%
Profit growth QoQ-25.15%
Sales growth YoY (latest quarter)32.37%
Profit growth YoY (latest quarter)-5.72%
Per share
EPS (TTM)Rs 78.33
EPS (latest year)Rs 6.32
EPS (latest quarter)Rs 15.61
EPS, 3-year averageRs 3.96
Book value per shareRs 16.24
Sales per shareRs 918.60
Cash flow per shareRs -2.68
Free cash flow per shareRs -175.00
Efficiency
Asset turnover1.55x
Fixed asset turnover11.19x
Inventory turnover3.19x
Inventory days114 days
Debtor days35 days
Debtors turnover10.41x
Creditor days41 days
Cash conversion cycle74 days
Working capital days37 days
Leverage
Total debtRs 47 Cr
Cash and bankRs 13 Cr
Net debtRs 35 Cr
Debt to equity1.14x
Net debt / EBITDA0.10x
Interest coverage9.01x
Owners' fund to total sources33.02%
Debt to assets37.71%
Cash flow
Cash from Operating Activity (latest year)Rs -7 Cr
Cash from Investing Activity (latest year)Rs -9 Cr
Cash from Financing Activity (latest year)Rs 17 Cr
Net Cash Flow (latest year)Rs 2 Cr
Free cash flow (latest year)Rs -447 Cr
FCFE (approx.: FCF + change in debt)Rs -426 Cr
Cash from ops / profit, 5 years-0.19x
Statement figures
Net sales (TTM)Rs 2,346 Cr
Net sales (latest year)Rs 195 Cr
Sales (latest quarter)Rs 503 Cr
Operating profit excl. other income (latest year)Rs 12 Cr
Operating profit (latest quarter)Rs 75 Cr
Other income (TTM)Rs 10 Cr
EBITDA (TTM)Rs 341 Cr
PBDT (TTM)Rs 306 Cr
Profit before tax (TTM)Rs 277 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs 200 Cr
Net profit (latest year)Rs 4 Cr
Net profit (latest quarter)Rs 40 Cr
Depreciation (TTM)Rs 30 Cr
Depreciation (latest quarter)Rs 10 Cr
Interest (TTM)Rs 35 Cr
Cost of goods sold (latest year)Rs 169 Cr
Total expenditure (latest year)Rs 183 Cr
Total income (latest year)Rs 196 Cr
Share capitalRs 6 Cr
ReservesRs 35 Cr
Shareholders' fundsRs 41 Cr
Total assetsRs 126 Cr
Net blockRs 17 Cr
Capital work in progressRs 4 Cr
InvestmentsRs 3 Cr
ReceivablesRs 19 Cr
InventoryRs 53 Cr
Other liabilitiesRs 37 Cr
Shares outstanding (crore)2.55
Ownership
Promoter holding65.90% (-2.86 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/B 50.70 is at the 24th percentile (median 53.18).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | ALPEXSOLAR | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -2.8% | -2.8% | -0.0 pts |
| 1 month | -3.1% | -6.8% | +3.7 pts |
| 3 months | -5.0% | -7.6% | +2.6 pts |
| 6 months | +8.4% | +0.4% | +8.0 pts |
| 1 year | -31.9% | -9.9% | -22.0 pts |
| 2 years | +1.7% | -13.6% | +15.2 pts |
Red flags
F-score 4 of 8| explain | Weak cash conversion Cash from operations was -88% of net profit over the last 3 years |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹503 Cr +32.4% vs Jun 2025.
Net profit ₹40 Cr -4.8%.
Against our estimate for Jun 2026: sales -17.3%, profit -28.7% big miss. Our estimate for Sep 2026: sales Rs 837 Cr, profit Rs 68 Cr (how).
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Apar Industries Ltd | 74,545 | 61.8 | 31.8 % |
| Waaree Energies Ltd | 68,461 | 17.0 | 38.4 % |
| Premier Energies Ltd | 39,494 | 23.7 | 32.7 % |
| MTAR Technologies Ltd | 22,842 | 166 | 15.2 % |
| Emmvee Photovoltaic Power Ltd | 21,778 | 17.1 | 44.6 % |
| Diamond Power Infrastructure Ltd | 21,055 | 114 | 24.2 % |
| Avalon Technologies Ltd | 15,396 | 115 | 19.3 % |
| Fujiyama Power Systems Ltd | 12,512 | 29.9 | 35.1 % |
| Genus Power Infrastructures Ltd | 8,934 | 13.7 | 25.3 % |
| Waaree Renewable Technologies Ltd | 8,574 | 16.8 | 85.0 % |
| Vikram Solar Ltd | 5,801 | 16.1 | 30.6 % |
| Ram Ratna Wires Ltd | 5,450 | 42.1 | 23.6 % |
| Saatvik Green Energy Ltd | 5,249 | 21.1 | 32.9 % |
| Shilchar Technologies Ltd | 4,613 | 33.5 | 50.7 % |
| Yash Highvoltage Ltd | 3,293 | 84.6 | 28.6 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
SME scrip is not regularly traded
Quick answers
What is the market cap of Alpex Solar Ltd?
Alpex Solar Ltd (ALPEXSOLAR) has a market capitalisation of Rs 2,210 Cr. at the 2026-10-01 close.
What is the P/E ratio of Alpex Solar Ltd?
Alpex Solar Ltd trades at a P/E of 11.0 on trailing twelve-month profit, at the 2026-10-01 close.
What were Alpex Solar Ltd's latest quarterly results?
In the Jun 2026 quarter, Alpex Solar Ltd sales was Rs 503 Cr (+32.4% vs Jun 2025) and net profit was Rs 40 Cr.
What is the 52-week high and low of Alpex Solar Ltd?
The 52-week high is Rs 1,319.00 and the 52-week low is Rs 660.00.