Alpex Solar Ltd

Alpex Solar Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Alpex Solar Ltd

₹ 716 -0.73%
05 Mar 12:24 p.m.
alpexsolar.com NSE - SME: ALPEXSOLAR
About

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

Key Points

Business Overview:[1][2][3]
ASL is among North Indiaʼs largest PV Module Manufacturers. Company manufactures solar PV modules, solar power plants, aluminium frames, IPP, GH2, and AC/DC water pumps.
It also undertakes EPC projects. Moreover, ASL trades in circular knitting needles, yarn, air purifiers, water pumps and solar panel. It has installed 15,000+ solar pump installation till date

Website NSE - SM
  • Market Cap ₹ 1,829 Cr.
  • Current Price ₹ 716
  • High / Low ₹ 1,450 / 495
  • Stock P/E 9.90
  • Book Value ₹ 185
  • Dividend Yield 0.00 %
  • ROCE 50.3 %
  • ROE 47.4 %
  • Face Value ₹ 10.0
Edit ratios

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 98.0% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 37.6%

Cons

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

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Electrical Equipment Other Electrical Equipment

Edit Columns
Loading peers table ...

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
79 121 77 188 188 327 380 522 646
71 106 73 158 151 274 318 445 556
Operating Profit 8 14 4 31 37 53 63 78 90
OPM % 10% 12% 5% 16% 20% 16% 17% 15% 14%
0 -5 0 1 1 1 2 1 0
Interest 2 1 2 1 2 2 3 3 6
Depreciation 1 1 1 1 3 3 4 4 7
Profit before tax 6 8 1 29 32 48 58 72 77
Tax % 21% 17% 29% 20% 27% 28% 26% 27% 29%
5 6 1 23 24 35 43 52 55
EPS in Rs 2.54 2.57 0.43 9.49 9.61 14.26 17.38 20.39 21.35
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
92 138 153 183 404 779 1,876
86 130 149 172 367 654 1,592
Operating Profit 6 8 4 11 37 125 284
OPM % 7% 6% 2% 6% 9% 16% 15%
2 1 3 1 9 3 4
Interest 4 4 4 5 6 8 15
Depreciation 2 2 3 2 3 8 18
Profit before tax 3 3 0 5 36 111 255
Tax % 3% 8% 36% 28% 13% 26%
3 3 0 4 32 83 184
EPS in Rs 12.90 33.86 73.38
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 53%
3 Years: 72%
TTM: 227%
Compounded Profit Growth
10 Years: %
5 Years: 98%
3 Years: 378%
TTM: 227%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 15%
Return on Equity
10 Years: %
5 Years: 31%
3 Years: 38%
Last Year: 47%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 6 6 6 6 24 24 26
Reserves 27 29 30 33 109 192 448
19 28 20 40 49 77 172
22 30 34 35 48 163 273
Total Liabilities 74 93 89 114 230 456 918
19 20 17 15 47 72 91
CWIP 0 1 2 4 0 11 67
Investments 5 5 4 4 3 3 3
49 68 66 90 180 371 758
Total Assets 74 93 89 114 230 456 918

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
7 2 4 -8 -14 51
-0 -4 6 -7 -16 -68
-6 2 -11 17 53 18
Net Cash Flow 1 0 -1 1 24 2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 87 46 38 43 64 58
Inventory Days 53 69 91 94 39 62
Days Payable 79 68 56 53 37 58
Cash Conversion Cycle 61 47 73 84 66 62
Working Capital Days 24 17 30 14 33 43
ROCE % 12% 7% 15% 27% 50%

Insights

In beta
Mar 2008Mar 2010Mar 2012Mar 2021Mar 2022Mar 2023Mar 2024Sep 2025Mar 2027
Solar PV Module Installed Capacity
MW

Log in to view insights

Please log in to see hidden values.

Login
Cumulative Solar Water Pumps Installed
Numbers
Employee Headcount
Numbers
Order Book Position
Rs. Crore
Target Aluminium Frame Manufacturing
MTPA
Target TOPCon Solar Cell Capacity
GW

Shareholding Pattern

Numbers in percentages

4 Recently
Mar 2024Sep 2024Mar 2025Jun 2025Sep 2025Dec 2025
68.76% 68.76% 68.76% 68.76% 65.89% 65.89%
4.86% 0.73% 1.48% 1.67% 2.99% 3.42%
1.82% 0.42% 0.26% 0.27% 0.34% 0.40%
24.55% 30.09% 29.50% 29.29% 30.79% 30.30%
No. of Shareholders 2,2244,5445,7306,0106,3977,354

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

Credit ratings

Concalls