Alpex Solar
- P/E
- 8.63
Key Fundamentals
SMEElectrical EquipmentCapital GoodsPrice-based figures as of · EPS basis: Consolidated · TTM
- ROCE
- 44.80%
- Debt to Equity
- 0.96
- EPS (TTM)
- ₹78.34
- Book Value
- ₹207.17
- Market Cap
- —
- P/E (TTM)
- 8.63
- P/B
- 3.26
- ROE
- 52.80%
- Dividend Yield
- 0.00%
- EBITDA
- ₹328 Cr
- 52W High
- ₹1,308.95
- 52W Low
- ₹650.00
- Day Range
- ₹661.15 – ₹682.75
- Volume
- 1,91,400
Peer Comparison
Industrials › Capital Goods › Other Electrical Equipment
| ₹2,408.00 | 18.15 | ₹67,713 Cr | 4.32 | 0.17% | 32.50% | 38.40% | ₹30,043 Cr | ₹4,003 Cr | |
| ₹15,998.00 | 54.39 | ₹65,476 Cr | 7.86 | 0.39% | 20.30% | 31.80% | ₹24,389 Cr | ₹1,181 Cr | |
| ₹904.00 | 24.61 | ₹40,624 Cr | 9.53 | 0.11% | 41.00% | 32.70% | ₹8,466 Cr | ₹1,674 Cr | |
| ₹385.85 | 111.84 | ₹22,658 Cr | — | 0.00% | — | 10.40% | ₹2,348 Cr | ₹182 Cr | |
| ₹6,036.50 | 137.95 | ₹19,040 Cr | 22.57 | 0.05% | 12.60% | 15.20% | ₹1,080 Cr | ₹134 Cr | |
| ₹246.41 | 12.03 | ₹16,196 Cr | 3.89 | 0.43% | 50.70% | 44.60% | ₹6,023 Cr | ₹1,418 Cr | |
| ₹2,041.00 | 102.05 | ₹13,437 Cr | 18.92 | 0.00% | 16.50% | 19.30% | ₹1,764 Cr | ₹134 Cr | |
| Alpex Solar (this company) | ₹675.95 | 8.63 | ₹1,709 Cr | 3.26 | 0.00% | 52.80% | 44.80% | ₹2,346 Cr | ₹200 Cr |
| Median 8 companies | ₹1,472.50 | 39.50 | ₹20,849 Cr | 7.86 | 0.08% | 32.50% | 32.25% | ₹4,186 Cr | ₹691 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the latest 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 →
Overall score
Data confidence 100/100
Category scores
- Quality
- 43
- Weak
- Returns, margins, earnings quality 22% weight
- Valuation
- 56
- Good
- Cheap vs sector & own history 24% weight
- Growth
- 99
- Strong
- Sales & profit trajectory 9% weight
- Financial Health
- 40
- Weak
- Solvency, leverage, coverage 9% weight
- Momentum
- 14
- Poor
- Trend strength, vol-adjusted 12% weight
- Ownership
- 60
- Good
- 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
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 12 | 3 | 4 |
| Oscillators | Bullish | 2 | 3 | 4 |
| Moving Averages | Strong Bearish | 10 | 0 | 0 |
Oscillators
Bullish
Overall
Strong Bearish
Moving Averages
Strong Bearish
Key readings
- RSI (14)
- 29.34
- Bullish
- MACD (12,26,9)
- −45.95
- Bearish
- SMA (50)
- 816.71
- Bearish
- SMA (200)
- 858.74
- Bearish
As of
Growth Rate
From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 5Y | +71.69% |
|---|---|
| 3Y | +125.06% |
| 1Y | +185.00% |
| TTM | +116.62% |
Net profit
| 5Y | +132.08% |
|---|---|
| 3Y | +269.63% |
| 1Y | +143.37% |
| TTM | +61.29% |
Operating cash flow
| 5Y | Turned negative |
|---|---|
| 3Y | Outflow widened by ₹109 Cr |
| 1Y | Turned negative |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 5Y | +8.71 pp |
|---|---|
| 3Y | +8.60 pp |
| 1Y | −1.40 pp |
| TTM | −2.93 pp |
Revenue by year
| Mar 2020 | ₹98.00 Cr |
|---|---|
| Mar 2021 | ₹149 Cr |
| Mar 2022 | ₹166 Cr |
| Mar 2023 | ₹195 Cr |
| Mar 2024 | ₹413 Cr |
| Mar 2025 | ₹780 Cr |
| Mar 2026 | ₹2,223 Cr |
Net profit by year
| Mar 2020 | ₹3.00 Cr |
|---|---|
| Mar 2021 | ₹3.00 Cr |
| Mar 2022 | ₹0.00 Cr |
| Mar 2023 | ₹4.00 Cr |
| Mar 2024 | ₹27.00 Cr |
| Mar 2025 | ₹83.00 Cr |
| Mar 2026 | ₹202 Cr |
Quarterly Results
₹ Cr| Particulars | 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 |
| 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 |
Profit & Loss
₹ Cr| Particulars | 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 | 1,895 | 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% | — |
Balance Sheet
₹ Cr| Particulars | 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 | 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 |
Cash Flow
₹ Cr| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 |
Ratios
| Particulars | 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 | 24 | 37 |
| ROCE % | — | 13% | 7% | 14% | 26% | 51% | 45% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Alpex Solar insights
58 extracted metrics across FY20–FY27.
Documents
- Q1 FY27 concall · Aug 2026Transcript Recording
- Q4 FY26 concall · May 2026Transcript PPT
- Q3 FY26 concall · Feb 2026Transcript PPT Recording
- Q2 FY26 concall · Nov 2025Transcript PPT Recording
- Q1 FY26 concall · Sep 2025PPT
- 27 Feb 2026
- 27 Nov 2025
- 20 Nov 2025
- 28 Jul 2025
- 27 Dec 2024
- 1 Oct 2026
- 29 Sep 2026
- 25 Sep 2026
- 17 Sep 2026
Frequently Asked Questions about Alpex Solar
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Company Information
Incorporated in 2008, Alpex Solar Ltd manufactures photovoltaic modules and provides all-inclusive solar energy solutions
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