Alpex Solar Limited
NSE: ALPEXSOLAR · Other · sector
₹690.75NSE close 2026-10-26
Key numbers
Market cap₹1,764 cr
Price₹690.75
52w high / low₹1,319 / ₹660
P/E8.7xSector median 14.4x
P/B3.1xSector median 1.7x
Book value₹219.9
Dividend yield–Sector median 0.37%
ROE51.4%Sector median 13.8%
ROCE29.1%Sector median 19.6%
OPM14.1%Sector median 10.4%
Debt / equity0.90xSector median 0.29x
EV/EBITDA6.4xSector median 8.4x
Interest cover9.0x
Current ratio1.71x
Sales growth 3y–Sector median +7.7%
Profit growth 3y–Sector median +16.6%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 688 companies in Other (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹150 cr vs borrowings ₹507 cr (FY26): borrowings are higher by ₹357 cr.
- Operating profit covered interest 9.0x in the last 12 months.
- Operating cash flow was below net profit in 3 of the last 3 years (FY26, FY25, FY24).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 5% of net profit in the last 12 months.
- No dividend in the last 3 financial years.
- Price ₹690.75 on 2026-10-26: -47.6% from the 52-week high, +4.7% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,352.05 · low ₹540.30
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 200 | 265 | 515 | 380 | 523 | 648 | 672 | 503 |
| EBITDA | 28 | 37 | 91 | 63 | 78 | 89 | 89 | 75 |
| OPM % | 13.9% | 13.9% | 17.6% | 16.5% | 14.9% | 13.8% | 13.2% | 14.8% |
| Other income | 1 | 1 | 1 | 2 | 1 | 1 | 4 | 3 |
| Net profit | 19 | 25 | 59 | 42 | 53 | 54 | 53 | 40 |
| EPS (₹) | 0.00 | 10.26 | 23.99 | 17.28 | 21.45 | 21.25 | 20.85 | 15.61 |
| Revenue YoY | +161.7% | +144.4% | +30.5% | +32.4% | ||||
| Profit YoY | +178.1% | +116.0% | -9.3% | -5.7% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|
| Revenue | 413 | 780 | 2,223 | 2,346 |
| EBITDA | 42 | 125 | 319 | 331 |
| Net profit | 27 | 83 | 201 | 200 |
| EPS (₹) | 0.00 | 34.11 | 80.52 | 79.16 |
| Revenue growth | +89.1% | +185.0% | – | |
| Profit growth | +214.3% | +141.3% | – | |
| Dividend / share (₹) | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | – | – | – |
| Net profit | – | – | – |
| EPS | – | – | – |
| Share price | – | -8.5% (2y) | -34.8% |
Balance sheet
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Shareholders' equity | – | 216 | 562 |
| Borrowings | – | 72 | 507 |
| Cash & equivalents | – | 46 | 150 |
| Total assets | – | 474 | 1,384 |
| Fixed assets | – | 47 | 113 |
| Capital work in progress | – | 23 | 175 |
| Investments | – | 2 | 1 |
| Receivables | – | 124 | 255 |
| Inventory | – | 102 | 359 |
| Payables | – | 110 | 202 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Cash from operations | -5 | 82 | -116 |
| Cash from investing | -17 | -85 | -437 |
| Cash from financing | 46 | 3 | 553 |
| Capex | 0 | 60 | 241 |
| Free cash flow | -5 | 22 | -357 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| ROE % | – | 38.6% | 35.9% |
| ROCE % | – | 41.5% | 28.4% |
| Debtor days | – | 58 | 42 |
| Inventory days | – | 62 | 73 |
| Payable days | – | 67 | 41 |
| Cash conversion cycle (days) | – | 53 | 74 |
| Working capital days | – | 57 | 62 |
Peers in Other
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| TSFINV | ₹8,585 cr | 17.6x | 1.4x | 8.4% | 3.6% | 20.5% | +121.7% | 2.30% |
| KRISHANA | ₹6,339 cr | 39.9x | 11.3x | 41.6% | 23.2% | 12.6% | +95.7% | 0.05% |
| MARINE | ₹5,431 cr | 84.2x | 11.0x | 14.3% | 18.0% | 10.8% | +25.6% | 0.07% |
| ZOTA | ₹4,139 cr | – | 6.0x | -22.5% | -12.4% | -0.5% | +56.7% | 0.07% |
| AIMTRON | ₹3,319 cr | 71.7x | 17.1x | 28.0% | 31.8% | 21.8% | – | – |
| ACCORD | ₹2,984 cr | – | 261.7x | 12.4% | 12.0% | 2.4% | – | – |
| MONOLITH | ₹2,646 cr | 64.6x | 24.3x | 36.0% | 48.7% | 24.4% | – | – |
| UTSSAV | ₹2,390 cr | 40.2x | 14.1x | 43.4% | 54.7% | 7.9% | – | – |
| BETA | ₹2,200 cr | 40.6x | 5.0x | 16.4% | 17.0% | 20.8% | – | – |
| ALPEXSOLAR | ₹1,764 cr | 8.7x | 3.1x | 51.4% | 29.1% | 14.1% | – | – |
Business segments (2026-06-30)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Solar Panel | ₹424 cr | 84.2% | ₹57 cr | 13.4% |
| Solar Pump and EPC | ₹80 cr | 15.8% | ₹10 cr | 12.6% |
| Cell | ₹0 cr | – | ₹0 cr | – |
| IPP | ₹0 cr | – | ₹0 cr | – |
Documents
Links go to the original files on the exchange website.
About the company
| Sector | |
| Industry | Other |
| Sub-industry | |
| Symbol | ALPEXSOLAR |
| BSE code | – |
| ISIN | INE0R4701017 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results); price = NSE close 2026-10-26.