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Alpex Solar (ALPEXSOLAR)₹713.90−1.44%Other Electrical Equipment
In the Jun 2026 quarter (consolidated), Alpex Solar reported sales of ₹502 Cr, up 32.3% from Jun 2025, and net profit of ₹40.01 Cr, down 4.8% year on year. For the year to Mar 2026, sales were ₹2,222 Cr and net profit ₹202 Cr.
Company filings, consolidated accounts; latest reported quarter Jun 2026
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 78.90 | 121 | 76.96 | 188 | 188 | 327 | 380 | 523 | 648 | 672 | 502 |
| Expenses | 70.81 | 106 | 72.79 | 158 | 151 | 273 | 317 | 444 | 556 | 581 | 428 |
| Operating Profit | 8.02 | 14.03 | 4.01 | 31.06 | 37.10 | 54.12 | 63.16 | 78.23 | 90.22 | 89.13 | 75.15 |
| OPM % | 9.9% | 11.9% | 5.0% | 15.9% | 20.0% | 16.0% | 15.9% | 14.9% | 13.9% | 12.9% | 14.9% |
| Other Income | 0.00 | −5.01 | 0.00 | 1.01 | 1.01 | 1.01 | 2.01 | 2.01 | 0.00 | 4.01 | 4.01 |
| Interest | 1.99 | 0.99 | 1.99 | 0.99 | 1.99 | 1.99 | 2.99 | 2.99 | 5.98 | 9.97 | 14.95 |
| Depreciation | 1.01 | 1.01 | 1.01 | 1.01 | 3.01 | 3.01 | 4.01 | 4.01 | 7.01 | 9.01 | 9.99 |
| Profit before tax | 5.99 | 7.99 | 0.99 | 28.97 | 31.96 | 49.01 | 56.95 | 71.94 | 76.89 | 74.01 | 53.98 |
| Tax % | 21.0% | 17.0% | 29.0% | 19.0% | 28.0% | 28.0% | 26.0% | 27.0% | 29.0% | 28.0% | 26.0% |
| Exceptional items | 0.00 | −2.45 | 0.00 | 0.12 | 0.01 | −0.12 | 0.00 | 0.00 | −0.67 | 0.00 | 0.00 |
| Net Profit | 5.01 | 6.01 | 1.01 | 24.01 | 23.04 | 35.02 | 42.03 | 53.08 | 54.01 | 53.06 | 40.01 |
| EPS (Rs) | 2.52 | 2.58 | 0.44 | 9.72 | 9.60 | 14.49 | 17.35 | 20.69 | 21.32 | 20.95 | 15.66 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 98.01 | 149 | 166 | 195 | 413 | 779 | 2,222 | 2,345 |
| Expenses | 90.70 | 140 | 160 | 182 | 374 | 652 | 1,898 | 2,009 |
| Operating Profit | 7.02 | 9.02 | 5.01 | 12.03 | 37.08 | 126 | 319 | 333 |
| OPM % | 7.0% | 6.0% | 2.7% | 6.0% | 8.9% | 16.0% | 13.9% | 14.2% |
| Other Income | 2.01 | 1.01 | 2.01 | 1.01 | 6.01 | 3.01 | 8.03 | 10.03 |
| Interest | 3.98 | 3.99 | 3.98 | 4.99 | 5.98 | 7.98 | 22.92 | 33.89 |
| Depreciation | 2.01 | 2.01 | 3.01 | 2.01 | 3.01 | 8.01 | 24.01 | 30.02 |
| Profit before tax | 2.99 | 4.01 | 0.00 | 4.99 | 33.95 | 112 | 279 | 277 |
| Tax % | 5.0% | 9.0% | 39.0% | 29.0% | 22.0% | 26.0% | 28.0% | — |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 3.99 | 0.00 | −0.99 | −0.67 |
| Net Profit | 3.01 | 3.01 | 0.00 | 4.01 | 27.02 | 83.04 | 202 | 200 |
| EPS (Rs) | — | — | — | — | 10.90 | 34.24 | 79.25 | 78.62 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 6.02 | 6.02 | 6.02 | 6.02 | 24.08 | 24.08 | 26.07 |
| Reserves | 29.04 | 31.05 | 32.02 | 35.01 | 106 | 192 | 536 |
| Borrowings | 20.06 | 30.10 | 27.09 | 47.12 | 49.15 | 79.26 | 538 |
| Other Liabilities | 23.11 | 32.15 | 36.17 | 37.17 | 50.23 | 179 | 287 |
| Total Liabilities | 78.23 | 99.32 | 100 | 126 | 231 | 476 | 1,387 |
| Fixed Assets | 13.02 | 20.01 | 17.02 | 17.01 | 31.04 | 78.10 | 168 |
| CWIP | 7.01 | 1.01 | 2.01 | 4.01 | 0.00 | 23.02 | 175 |
| Investments | 5.01 | 4.01 | 4.01 | 3.01 | 2.01 | 2.01 | 1.01 |
| Other Assets | 53.19 | 75.29 | 77.26 | 100 | 198 | 372 | 1,043 |
| Inventories | 19.05 | 31.10 | 44.08 | 53.14 | 37.10 | 102 | 360 |
| Trade receivables | 15.01 | 14.02 | 17.01 | 19.01 | 71.10 | 124 | 255 |
| Cash & equivalents | 7.99 | 15.02 | 7.01 | 13.01 | 43.03 | 46.01 | 150 |
| Total Assets | 78.23 | 99.32 | 100 | 126 | 231 | 476 | 1,387 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from operating activity | 6.99 | 1.99 | −0.99 | −6.99 | −4.99 | 68.88 | −116 |
| Cash from investing activity | −1.01 | −8.03 | 6.02 | −9.03 | −17.05 | −82.28 | −438 |
| Cash from financing activity | −6.01 | 7.01 | −6.01 | 17.02 | 46.11 | 16.02 | 554 |
| Net cash flow | 0.99 | 0.00 | −0.99 | 1.99 | 22.95 | 2.99 | 0.00 |
| Capex | 0.00 | 2.99 | 0.99 | 4.99 | 11.99 | 57.92 | 332 |
| Free cash flow | 7.98 | −0.99 | −1.99 | −11.97 | −8.99 | 10.98 | −446 |
| CFO / OP % | 116.0% | 28.0% | 6.0% | −58.0% | −10.0% | 65.0% | −21.0% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 58 | 36 | 38 | 36 | 64 | 59 | 43 |
| Inventory days | 94 | 93 | 110 | 115 | 42 | 62 | 73 |
| Days payable | 79 | 69 | 56 | 53 | 39 | 67 | 41 |
| Cash conversion cycle | 74 | 59 | 92 | 98 | 66 | 54 | 75 |
| Working capital days | 32 | 26 | 47 | 24 | 49 | 36 | 38 |
| ROCE % | — | 13.0% | 7.0% | 14.0% | 26.0% | 51.0% | 44.0% |
For the Jun 2026 quarter, Alpex Solar reported sales of ₹502 Cr, up 32.3% year on year and net profit of ₹40.01 Cr, down 4.8% year on year. The operating margin was 14.9%.
Alpex Solar's sales for the year to Mar 2026 were ₹2,222 Cr; over the last twelve months they were ₹2,345 Cr.
Net profit for the year to Mar 2026 was ₹202 Cr, and ₹200 Cr over the last twelve months. Earnings per share over the same trailing period were ₹78.62.
Alpex Solar reported borrowings of ₹538 Cr at Mar 2026, against cash and equivalents of ₹150 Cr.
Cash from operations was −₹116 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹446 Cr.