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Alpex Solar

ALPEXSOLAR NSE
₹672.00 down 6.15 (0.91%)
Market Cap
₹1,716 Cr
P/E
8.58

Alpex Solar (ALPEXSOLAR) share price was ₹678.15 at the 28 Oct 2026 close; market capitalisation ₹1,732 Cr; P/E (TTM) 8.66; sector Capital Goods. The share price fell 42.4% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue rose 32.4% year on year to ₹503.4 Cr and net profit fell 5.7% year on year to ₹39.9 Cr (compared with Jun 2025). Promoters held 65.90% of Alpex Solar in Sep 2026, unchanged from Jun 2026. Its Tapetide Score is 49/100 (Average) as of 28 Oct 2026.

Close 28 Oct 2026 ₹678.15 −511.15 −42.98% 1Y

Key Fundamentals

SMEElectrical EquipmentCapital Goods
Market Cap
₹1,716 Cr
P/E (TTM)
8.58
EBITDA
₹328 Cr
Return on Equity
35.87%
Debt to Equity
0.96
Book Value
₹207.17
EPS (TTM)
₹78.34
52W High
₹1,319.00
52W Low
₹650.00

Price-based figures as of 29 Oct 2026, 10:39 IST · EPS basis: Consolidated · TTM

Peer Comparison

Industrials › Capital Goods › Other Electrical Equipment

Waaree Energies
₹2,288.0017.2465,815 Cr4.110.18%25.88%30.63%32,189 Cr4,003 Cr
Apar Industries
₹15,270.0051.9263,939 Cr8.100.40%18.11%29.21%24,377 Cr1,181 Cr
Premier Energies
₹855.1023.2838,817 Cr9.010.12%35.02%27.88%8,670 Cr1,674 Cr
MTAR Technologies
₹6,952.00158.8721,384 Cr26.000.04%11.43%15.30%1,097 Cr134 Cr
Diamond Power Infrastructure
₹335.0097.1020,035 Cr19.850.00%-26.18%10.63%2,314 Cr182 Cr
Emmvee Photovoltaic Power
₹242.2011.8216,769 Cr3.820.42%29.27%34.80%6,063 Cr1,418 Cr
Avalon Technologies
₹2,071.00103.5513,851 Cr19.190.00%15.65%21.95%1,794 Cr134 Cr
Alpex Solar (this company)
₹672.008.581,716 Cr3.240.00%35.87%35.40%2,357 Cr200 Cr
Median 8 companies₹1,463.0537.6020,710 Cr8.560.08%21.99%28.55%4,210 Cr691 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

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

49 Average
Overall score

Data confidence 100/100

Category scores

Quality Weak 43
Returns, margins, earnings quality 22% weight
Valuation Good 55
Cheap vs sector & own history 24% weight
Growth Strong 99
Sales & profit trajectory 9% weight
Financial Health Weak 40
Solvency, leverage, coverage 9% weight
Momentum Poor 14
Trend strength, vol-adjusted 12% weight
Ownership Weak 43
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

4
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 133% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 48.0%
  • Debtor days have improved from 54.1 to 41.8 days.

Weaknesses

1
  • Though the company is reporting repeated profits, it is not paying out dividend

Technical Indicators

Oscillators

Bullish

Bearish
2
Neutral
4
Bullish
3

Overall

Bearish

Bearish
12
Neutral
4
Bullish
3

Moving Averages

Bearish

Bearish
10
Neutral
0
Bullish
0

Growth Rate

Revenue Growth
185% higher than 3Y

change over 1 year

Net Income Growth
141% lower than 3Y

change over 1 year

Cash Flow Change
-268%

change over 1 year

EBITDA Margin Change
-10.14%

change over 1 year Operating margin 15% · Jun 2026

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 (₹)
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
1,895
2,015
Operating Profit
7
9
5
12
37
126
328
331
OPM %
7%
6%
2.7%
6%
9%
16%
15%
14%
Other Income
2
1
2
1
6
3
3
10
Interest
4
4
4
5
6
8
28
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 (₹)
—
—
—
—
10.86
34.11
78.87
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
166
CWIP
7
1
2
4
0
23
177
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
-361
CFO/EBITDA
116
28
6
-58
-10
65
-20
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
24
37
ROCE %
—
13%
7%
14%
26%
51%
45%

Insights

Beta

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

Log in to view Alpex Solar insights

61 extracted metrics + investor summaries across FY20–FY27.

Shareholding Pattern

DIIs0.39%Promot.65.90%FIIs3.28%Others5.54%Public24.89%As ofSep 2026
6.47% of promoter holding pledged as of 14 Oct 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 ₹1,716 Cr as of 29 Oct 2026, 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 8.58 as of 29 Oct 2026, on earnings per share of ₹78.34, against a book value of ₹207.17 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 ₹650 and ₹1,319 as of 29 Oct 2026.
What is the Return on Equity (ROE) of Alpex Solar Ltd?
Alpex Solar Ltd reported a return on equity of 35.87%. 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
Shares Outstanding 2,55,43,000

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