Alpex Solar Ltd
Incorporated in August 1993, Alpex Solar Limited is a manufacturer of Solar panels using monocrystalline and polycrystalline cell technologies.[1]
- Market Cap ₹ 2,004 Cr.
- Current Price ₹ 819
- High / Low ₹ 1,132 / 235
- Stock P/E 49.9
- Book Value ₹ 63.8
- Dividend Yield 0.00 %
- ROCE 27.4 %
- ROE 26.2 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
Cons
- Stock is trading at 12.8 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -24.8%
- Debtor days have increased from 45.0 to 62.7 days.
* 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
Sector: Capital Goods - Electrical Equipment Industry: Electric Equipment
Half Yearly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
|---|---|---|---|---|---|---|
| 98 | 149 | 166 | 195 | 413 | 465 | |
| 91 | 140 | 161 | 183 | 375 | 405 | |
| Operating Profit | 7 | 9 | 5 | 12 | 37 | 60 |
| OPM % | 7% | 6% | 3% | 6% | 9% | 13% |
| 2 | 1 | 2 | 1 | 6 | 6 | |
| Interest | 4 | 4 | 4 | 5 | 6 | 5 |
| Depreciation | 2 | 2 | 3 | 2 | 3 | 4 |
| Profit before tax | 3 | 4 | 0 | 5 | 34 | 56 |
| Tax % | 5% | 9% | 39% | 30% | 22% | |
| 3 | 3 | 0 | 4 | 27 | 44 | |
| EPS in Rs | 10.86 | 18.00 | ||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 41% |
| TTM: | 112% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 96% |
| TTM: | 504% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 16% |
| Last Year: | 26% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 6 | 24 | 24 |
| Reserves | 29 | 31 | 32 | 35 | 106 | 132 |
| 20 | 30 | 27 | 47 | 36 | 33 | |
| 23 | 32 | 36 | 37 | 50 | 74 | |
| Total Liabilities | 78 | 99 | 100 | 126 | 217 | 263 |
| 13 | 20 | 17 | 18 | 31 | 51 | |
| CWIP | 7 | 1 | 2 | 4 | 0 | 0 |
| Investments | 5 | 4 | 4 | 2 | 2 | 6 |
| 53 | 75 | 77 | 101 | 184 | 206 | |
| Total Assets | 78 | 99 | 100 | 126 | 217 | 263 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| 7 | 2 | -1 | -7 | -5 | |
| -1 | -8 | 6 | -9 | -17 | |
| -6 | 7 | -6 | 17 | 46 | |
| Net Cash Flow | 1 | 0 | -1 | 2 | 23 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| Debtor Days | 57 | 35 | 37 | 35 | 63 |
| Inventory Days | 94 | 93 | 110 | 123 | 42 |
| Days Payable | 79 | 69 | 56 | 57 | 39 |
| Cash Conversion Cycle | 73 | 58 | 91 | 101 | 65 |
| Working Capital Days | 82 | 69 | 78 | 96 | 76 |
| ROCE % | 13% | 7% | 14% | 27% |
Documents
Announcements
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Statement of deviation(s) or variation(s) under Reg. 32
14 November 2024 - Alpex Solar Limited has informed about statement of deviation(s) or variation(s) under Reg. 32
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Outcome of Board Meeting
12 November 2024 - Alpex Solar Limited has informed regarding Board meeting held on November 12, 2024.
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Financial Result Updates
12 November 2024 - Alpex Solar Limited has submitted to the Exchange, the financial results for the period ended September 30, 2024.
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Related Party Transactions
12 November 2024 - Alpex Solar Limited has informed about related Party Transactions
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Investor Presentation
8 November 2024 - Alpex Solar Limited has informed about Investor Presentation
Business Division
A) Manufacture Solar Photovoltaic (PV) module.[1]
Co. manufactures Solar Photovoltaic cells and Solar PV modules under this division. It manufactures and delivers solar panels in the B2B space and also serves as a contract manufacturer for several large companies, including Luminous, Jakson, and Tata Power
Company has 450 MW of manufacturing capacity of PV Solar Panels.