Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Alpex Solar Ltd
Quarter-by-quarter operating performance
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 79 | 121 | 77 | 188 | 188 | 327 | 380 | 523 | 648 | 672 |
| Expenses + | 71 | 106 | 73 | 158 | 151 | 274 | 318 | 445 | 558 | 583 |
| Operating Profit | 8 | 14 | 4 | 31 | 37 | 54 | 63 | 78 | 90 | 89 |
| OPM % | 10% | 12% | 5% | 16% | 20% | 16% | 16% | 15% | 14% | 13% |
| Other Income + | 0 | -5 | 0 | 1 | 1 | 1 | 2 | 2 | 0 | 4 |
| Interest | 2 | 1 | 2 | 1 | 2 | 2 | 3 | 3 | 6 | 10 |
| Depreciation | 1 | 1 | 1 | 1 | 3 | 3 | 4 | 4 | 7 | 9 |
| Profit before tax | 6 | 8 | 1 | 29 | 32 | 49 | 57 | 72 | 77 | 74 |
| Tax % | 21% | 17% | 29% | 19% | 28% | 28% | 26% | 27% | 29% | 28% |
| Net Profit + | 5 | 6 | 1 | 24 | 23 | 35 | 42 | 53 | 54 | 53 |
| EPS in Rs | 2.51 | 2.57 | 0.43 | 9.69 | 9.56 | 14.43 | 17.28 | 20.62 | 21.25 | 20.86 |
Financials of Alpex Solar Ltd
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 98 | 149 | 166 | 195 | 413 | 780 | 2,223 |
| Expenses + | 91 | 140 | 161 | 183 | 375 | 654 | 1,904 |
| Operating Profit | 7 | 9 | 5 | 12 | 37 | 126 | 319 |
| OPM % | 7% | 6% | 3% | 6% | 9% | 16% | 14% |
| Other Income + | 2 | 1 | 2 | 1 | 7 | 3 | 8 |
| Interest | 4 | 4 | 4 | 5 | 6 | 8 | 23 |
| Depreciation | 2 | 2 | 3 | 2 | 4 | 8 | 24 |
| Profit before tax | 3 | 4 | 0 | 5 | 34 | 112 | 279 |
| Tax % | 5% | 9% | 39% | 30% | 14% | 26% | 28% |
| Net Profit + | 3 | 3 | 0 | 4 | 29 | 83 | 202 |
| EPS in Rs | 11.89 | 34.11 | 78.89 | ||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Alpex Solar Ltd
Capital structure and asset base
| 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 | 109 | 192 | 536 |
| Borrowings + | 20 | 30 | 27 | 47 | 49 | 79 | 537 |
| Other Liabilities + | 23 | 32 | 36 | 37 | 48 | 178 | 286 |
| Total Liabilities | 78 | 99 | 100 | 126 | 230 | 474 | 1,384 |
| Fixed Assets + | 13 | 20 | 17 | 18 | 47 | 78 | 168 |
| CWIP | 7 | 1 | 2 | 4 | 0 | 23 | 175 |
| Investments | 5 | 4 | 4 | 2 | 2 | 2 | 1 |
| Other Assets + | 53 | 75 | 77 | 101 | 180 | 371 | 1,040 |
| Total Assets | 78 | 99 | 100 | 126 | 230 | 474 | 1,384 |
Financials of Alpex Solar Ltd
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 7 | 2 | -1 | -7 | -8 | 69 | -116 |
| Cash from Investing Activity + | -1 | -8 | 6 | -9 | -19 | -82 | -437 |
| Cash from Financing Activity + | -6 | 7 | -6 | 17 | 50 | 16 | 553 |
| Net Cash Flow | 1 | 0 | -1 | 2 | 23 | 3 | 0 |
| Free Cash Flow | 8 | -1 | -2 | -12 | -13 | 11 | -447 |
| CFO/OP | 116% | 28% | 6% | -58% | -7% | 65% | -21% |
Financials of Alpex Solar Ltd
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 57 | 35 | 37 | 35 | 62 | 58 | 42 |
| Inventory Days | 94 | 93 | 110 | 123 | 39 | 62 | 73 |
| Days Payable | 79 | 69 | 56 | 57 | 36 | 67 | 41 |
| Cash Conversion Cycle | 73 | 58 | 91 | 101 | 65 | 53 | 74 |
| Working Capital Days | 31 | 25 | 46 | 24 | 32 | 35 | 37 |
| ROCE % | 13% | 7% | 14% | 26% | 50% | 44% |