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Alpex Solar

ALPEXSOLAR NSE

Key Fundamentals

SMEOther Electrical EquipmentCapital Goods
Market Cap
₹2,299 Cr
Volatility
Moderate
P/E Ratio
11.92
EBITDA
₹318 Cr
Return on Equity
38.57%
Debt to Equity
0.96
Book Value
₹219.94
52W High
₹1,374.85
52W Low
₹660

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

4
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 132% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 47.5%
  • Debtor days have improved from 54.1 to 41.8 days.

Weaknesses

2
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
184% higher than 3Y
Net Income Growth
144% lower than 3Y
ROE
90.19% higher than 3Y
ROCE
70.72% lower than 3Y
EBITDA Margin (Avg.)
-12.95% lower than 3Y

Quarterly Results

Particulars Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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
PBT
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
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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
PBT
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
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Cash Flow

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
7
2
-1
-7
-5
69
-116
Investing
-1
-8
6
-9
-17
-82
-437
Financing
-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
Figures in ₹ Crores

Ratios

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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61 extracted metrics + investor summaries across FY20–FY26.

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Shareholding Pattern

DIIs0.40%Promot.65.90%FIIs3.13%Others5.64%Public24.94%As ofJun 2026
6.47% of promoter holding pledged as of 10 Sep 2026

Documents

Frequently Asked Questions about Alpex Solar

What does Alpex Solar Ltd do?
Incorporated in 2008, Alpex Solar Ltd manufactures photovoltaic modules and provides all-inclusive solar energy solutions[1]
Where is Alpex Solar Ltd (ALPEXSOLAR) listed?
Alpex Solar Ltd trades as ALPEXSOLAR on the NSE.
Which sector does Alpex Solar Ltd belong to?
Alpex Solar Ltd is classified under the Capital Goods sector, in the Other Electrical Equipment industry.
What is the market capitalisation of Alpex Solar Ltd?
Alpex Solar Ltd has a market capitalisation of ₹2,299 Cr, which places it in the Small Cap band.
What is the PE ratio of Alpex Solar Ltd?
Alpex Solar Ltd trades at a PE ratio of 11.92, against a book value of ₹219.94 per share.
What is the 52-week high and low of Alpex Solar Ltd?
Over the last 52 weeks Alpex Solar Ltd has traded between ₹660 and ₹1,374.85.
What is the Return on Equity (ROE) of Alpex Solar Ltd?
Alpex Solar Ltd reported a return on equity of 38.57%. Its debt-to-equity ratio is 0.96.

Company Information

Incorporated in 2008, Alpex Solar Ltd manufactures photovoltaic modules and provides all-inclusive solar energy solutions[1]

Website alpexsolar.com
Listed 2024-02-15
Face Value ₹ 10
Issued Size 2,55,43,000

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