Alpex Solar Ltd

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

Alpex Solar Ltd

₹ 1,320 1.08%
17 Sep - close price
Company website 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 ₹ 3,230 Cr.
  • Current Price ₹ 1,320
  • High / Low ₹ 1,450 / 495
  • Stock P/E 25.9
  • Book Value ₹ 88.4
  • Dividend Yield 0.00 %
  • ROCE 51.8 %
  • ROE 48.1 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 93.8% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 36.7%

Cons

  • Stock is trading at 14.9 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend

* 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025
79 121 77 188 188 327 380
71 106 73 155 151 274 318
Operating Profit 8 14 4 33 37 54 63
OPM % 10% 12% 5% 17% 20% 16% 16%
0 -5 0 0 1 1 2
Interest 2 1 2 1 2 2 3
Depreciation 1 1 1 1 3 3 4
Profit before tax 6 8 1 30 32 49 57
Tax % 21% 17% 29% 23% 28% 28% 26%
5 6 1 24 23 35 42
EPS in Rs 2.51 2.57 0.43 9.64 9.56 14.43 17.28
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
98 149 166 195 413 780 1,084
91 140 161 183 375 655 898
Operating Profit 7 9 5 12 37 125 186
OPM % 7% 6% 3% 6% 9% 16% 17%
2 1 2 1 6 3 4
Interest 4 4 4 5 6 7 9
Depreciation 2 2 3 2 3 8 11
Profit before tax 3 4 0 5 34 112 170
Tax % 5% 9% 39% 30% 22% 26%
3 3 0 4 27 83 125
EPS in Rs 10.86 34.11 50.91
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 51%
3 Years: 68%
TTM: 89%
Compounded Profit Growth
10 Years: %
5 Years: 94%
3 Years: 1107%
TTM: 269%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 55%
Return on Equity
10 Years: %
5 Years: 30%
3 Years: 37%
Last Year: 48%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 6 6 6 6 24 24
Reserves 29 31 32 35 106 192
20 30 27 47 36 79
23 32 36 37 50 178
Total Liabilities 78 99 100 126 217 474
13 20 17 18 31 78
CWIP 7 1 2 4 0 23
Investments 5 4 4 2 2 2
53 75 77 101 184 371
Total Assets 78 99 100 126 217 474

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
7 2 -1 -7 -5 69
-1 -8 6 -9 -17 -85
-6 7 -6 17 46 16
Net Cash Flow 1 0 -1 2 23 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 57 35 37 35 63 58
Inventory Days 94 93 110 123 42 62
Days Payable 79 69 56 57 39 67
Cash Conversion Cycle 73 58 91 101 65 53
Working Capital Days 31 25 46 24 48 35
ROCE % 13% 7% 14% 27% 52%

Shareholding Pattern

Numbers in percentages

Mar 2024Sep 2024Mar 2025Jun 2025
68.76% 68.76% 68.76% 68.76%
4.86% 0.73% 1.48% 1.67%
1.82% 0.42% 0.26% 0.27%
24.55% 30.09% 29.50% 29.29%
No. of Shareholders 2,2244,5445,7306,010

* 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

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