Alphageo (India) Limited (ALPHAGEO)
₹245.25 +2.21% last close, 22 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Alphageo (India)'s revenue was ₹82.1 Cr (+101.1% year on year, +66.6% on the previous quarter), and net profit ₹14.9 Cr; the operating margin was 23.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹82.1 | +101.1% | +66.6% |
| Operating profit | ₹19.5 | +724.9% | from loss |
| Net profit | ₹14.9 | — | from loss |
| EPS (₹) | 22.40 | — | from loss |
| Operating margin | 23.8% | — | — |
📢 Recent Corporate Announcements
Alphageo (India) Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from Registrar and Share Transfer Agent KFin Technologies confirms the proper processing and dematerialization of securities received. This is a recurring regulatory compliance report with no operational or financial impact on the company.
- Submitted compliance certificate under Regulation 74(5) of SEBI regulations
- Covers the quarter ended September 30, 2026
- Issued by Registrar and Share Transfer Agent KFin Technologies Limited
- Confirms mutilation and cancellation of physical certificates within stipulated time
Alphageo (India) Limited announced that its shareholders at the 39th Annual General Meeting have approved the re-appointment of Mr. Dinesh Alla as Chairman and Managing Director. The reappointment is valid for a five-year term running from August 21, 2026, through August 20, 2031. His remuneration was also approved for a three-year period effective August 21, 2026, to August 20, 2029. Mr. Alla has served as Managing Director since August 1991 and added the role of Chairman in 2017.
- Shareholders approved the re-appointment of Mr. Dinesh Alla as CMD at the 39th AGM.
- Term of CMD re-appointment spans 5 years from August 21, 2026 to August 20, 2031.
- Executive remuneration approved for a 3-year period ending August 20, 2029.
- Mr. Alla has been Managing Director since August 21, 1991, and Chairman since 2017.
Alphageo (India) Limited conducted its 39th Annual General Meeting on September 18, 2026, with 66 members attending via video conferencing. Key resolutions presented included the declaration of a dividend of Rs 5 per equity share (face value Rs 10) for FY26 and the re-appointment of Dinesh Alla as Chairman and Managing Director for a 5-year term. Shareholders also considered the remuneration terms for Whole-Time Director Sashank Alla and the adoption of FY26 financial statements.
- 39th Annual General Meeting held on September 18, 2026, attended by 66 members via video conferencing
- Resolution proposed for declaration of Rs 5 per equity share dividend for FY 2025-26
- Proposed re-appointment of Dinesh Alla as Chairman and Managing Director for 5 years effective August 21, 2026
- Proposed remuneration approval for Whole-Time Director Sashank Alla for remaining 2 years from September 29, 2026
- Remote e-voting window was open from September 14 to September 17, 2026
Alphageo (India) Limited held its 39th Annual General Meeting on September 18, 2026, with 66 members attending via video conferencing. Key resolutions presented included the declaration of a dividend of ₹5 per equity share of face value ₹10 for FY26. Shareholders also considered the re-appointment of Dinesh Alla as Chairman and Managing Director for a 5-year term from August 21, 2026, alongside remuneration approvals for Whole Time Director Sashank Alla. The statutory and secretarial audit reports were confirmed to have no qualifications or adverse remarks.
- Declared a dividend of ₹5 per equity share of ₹10 face value for FY26
- Proposed re-appointment of Dinesh Alla as CMD for a 5-year term effective August 21, 2026
- 66 members attended the AGM held via video conferencing on September 18, 2026
- Auditors issued reports without any qualifications, reservations, or adverse remarks
Alphageo (India) Limited has announced that Alphageo Offshore Services Private Limited (AOSPL) has ceased to be its subsidiary effective September 18, 2026. This follows a Rights Issue by AOSPL where Alphageo renounced its entitlement, causing its shareholding to fall below 51%. Consequently, Alphageo has lost operational control and will no longer consolidate AOSPL as a subsidiary. Exact pre- and post-dilution ownership percentages and financial terms of the rights issue were not disclosed.
- Cessation of AOSPL subsidiary status effective September 18, 2026
- Dilution resulted from AGIL renouncing its entitlement in AOSPL's Rights Issue
- AGIL shareholding dropped from more than 51% to less than 51%
Alphageo (India) Limited has dispatched communications to shareholders whose email addresses are not registered, providing the web-link and QR code for the FY 2025-26 Annual Report and 39th AGM Notice. The 39th AGM is scheduled for Friday, September 18, 2026, at 11:00 AM IST via video conferencing. The company fixed Friday, September 11, 2026, as the record date for final dividend entitlement and cut-off date for remote e-voting. Remote e-voting will run from September 14, 2026, to September 17, 2026.
- 39th Annual General Meeting scheduled for September 18, 2026, at 11:00 AM IST via Video Conferencing
- Record date for Final Dividend fixed as Friday, September 11, 2026
- Cut-off date for Remote e-voting set as Friday, September 11, 2026
- Remote e-voting period opens September 14, 2026 (9:00 AM) and closes September 17, 2026 (5:00 PM)
- Communication dispatched via RTA KFin Technologies on August 27, 2026 under Regulation 36(1)(b)
Alphageo (India) Limited has scheduled its 39th Annual General Meeting (AGM) for September 18, 2026, via video conferencing. Key agenda items include the declaration of a dividend of ₹5 per equity share (face value ₹10) for FY26. Shareholders will also vote on the re-appointment of Mr. Dinesh Alla as Chairman and Managing Director for a 5-year term with remuneration fixed for 3 years, along with the remuneration terms of Whole Time Director Mr. Sashank Alla.
- 39th Annual General Meeting convened for Friday, September 18, 2026, at 11:00 AM IST via VC/OAVM.
- Proposed dividend of ₹5 per equity share of face value ₹10 for the financial year ended March 31, 2026.
- Re-appointment of Mr. Dinesh Alla as Chairman & MD for 5 years effective August 21, 2026, with remuneration fixed for 3 years (FY26 remuneration was ₹134.09 Lakhs).
- Approval of remuneration terms for Mr. Sashank Alla, Whole Time Director, for a 2-year period from September 29, 2026 (FY26 remuneration was ₹28.99 Lakhs).
Alphageo (India) Limited has released a shareholder communication detailing Income Tax Deduction at Source (TDS) provisions for its recommended dividend of ₹5 per equity share (face value ₹10) for FY 2025-26. The record date to determine eligible shareholders is fixed as September 11, 2026, subject to shareholder approval at the AGM on September 18, 2026. Resident individuals with valid PAN will face 10% TDS on dividend payouts exceeding ₹10,000, while eligible shareholders seeking nil or lower withholding must submit relevant declarations by September 11, 2026.
- Recommended dividend of ₹5 per equity share of face value ₹10 for FY 2025-26
- Record date set for September 11, 2026 to determine eligible shareholders
- 39th Annual General Meeting (AGM) scheduled for Friday, September 18, 2026
- Standard TDS rate of 10% applies to resident individuals for dividend amounts exceeding ₹10,000
- Deadline for tax exemption declarations/forms submission is September 11, 2026, 5:00 PM IST
Alphageo (India) reported a strong operational turnaround in Q1 FY27, posting a net profit of ₹12.74 cr compared to a loss of ₹3.62 cr in the preceding quarter. Revenue grew 33% year-on-year to ₹54.38 cr, a significant recovery given the total FY26 revenue was ₹112 cr. The board approved the re-appointment of Mr. Dinesh Alla as CMD for a 5-year term starting August 21, 2026. However, investors should note significant legal overhangs, including ₹16.01 cr in seized fixed deposits and ₹22.46 cr in contingent tax liabilities.
- Revenue from operations increased 33% YoY to ₹54.38 cr in Q1 FY27 from ₹40.84 cr in Q1 FY26.
- Net profit turned to ₹12.74 cr for the quarter, compared to a total net loss of ₹13.84 cr for the full FY26.
- CMD Dinesh Alla re-appointed for a 5-year term effective August 21, 2026, to August 20, 2031.
- Fixed deposits worth ₹16.01 cr remain seized by the Enforcement Directorate under FEMA proceedings since 2022-23.
- Total contingent tax liability disclosed at ₹22.46 cr, representing approximately 10% of the company's net worth of ₹224 cr.
Alphageo (India) Limited has fixed September 11, 2026, as the record date for determining shareholder eligibility for a dividend for FY 2025-26. The 39th Annual General Meeting (AGM) is scheduled for September 18, 2026, via video conferencing. This announcement comes at a time when the company is reporting a TTM net loss of Rs 14 crore and a negative operating margin of 7.4%. The dividend payout is subject to shareholder approval at the upcoming meeting.
- Record date for dividend eligibility fixed as September 11, 2026
- 39th Annual General Meeting (AGM) scheduled for September 18, 2026
- Cut-off date for e-voting eligibility also set for September 11, 2026
- Company reported a TTM net loss of Rs 14 crore on revenue of Rs 112 crore
- Debt-free status maintained with a D/E ratio of 0.00
Alphageo (India) reported a strong turnaround in Q1 FY27, with standalone revenue growing 33% YoY to ₹54.38 Cr. Standalone PAT reached ₹12.74 Cr, a significant improvement from ₹0.92 Cr in Q1 FY26, representing nearly 11% of the entire TTM revenue in just one quarter's profit. The board approved the re-appointment of Mr. Dinesh Alla as CMD for a 5-year term and set September 11, 2026, as the record date for dividend. However, legal overhangs persist with ₹16.01 Cr in assets frozen under FEMA and a ₹22.46 Cr contingent tax liability.
- Standalone Revenue for Q1 FY27 rose to ₹54.38 Cr from ₹40.84 Cr in the previous year's corresponding quarter.
- Standalone PAT turned around to ₹12.74 Cr compared to a marginal profit of ₹0.92 Cr in Q1 FY26.
- Fixed deposits worth ₹16.01 Cr remain seized/frozen by the Directorate of Enforcement under FEMA proceedings.
- Total contingent tax liability disclosed at ₹22.46 Cr, including a ₹16.45 Cr demand on the MD indemnified by the company.
- Mr. Dinesh Alla re-appointed as Chairman and Managing Director for a 5-year term effective August 21, 2026.
Alphageo (India) Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the period ended June 30, 2026. The document, issued by KFin Technologies Limited, confirms that share certificates received for dematerialization were processed, listed on exchanges, and cancelled as per regulations. This is a standard administrative filing required for all listed entities and has no impact on the company's financial performance or business operations. The company currently reports a TTM revenue of Rs 112 Cr and a net loss of Rs 14 Cr.
- Compliance certificate issued for the quarter ended June 30, 2026
- Confirmation provided by Registrar and Share Transfer Agent (RTA), KFin Technologies Limited
- Verification that dematerialized securities are listed on both BSE and NSE
- Company maintains a net worth of Rs 224 Cr despite recent TTM losses of Rs 14 Cr
Alphageo (India) Limited has officially notified the exchanges regarding the closure of its trading window starting July 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the announcement of unaudited financial results for the quarter ending June 30, 2026. The restriction applies to all directors, promoters, and designated employees, lasting until 48 hours after the results are declared. The specific date for the board meeting to approve these results will be communicated at a later time.
- Trading window closure begins on July 1, 2026, for the quarter ending June 30, 2026.
- Restriction applies to Directors, Promoters, Designated Employees, and their immediate relatives.
- The window will remain closed until 48 hours after the declaration of Q1 financial results.
- Board meeting date for result approval is yet to be announced by the company.
Alphageo (India) Limited has issued a notice to shareholders holding shares in physical form to update their KYC details, including PAN, bank account, and nomination information. This action follows SEBI mandates requiring electronic-only dividend payments and the freezing of folios with incomplete KYC. The company also highlighted a special one-year window from February 5, 2026, to February 4, 2027, for the dematerialization of physical shares purchased before April 2019.
- Mandatory submission of PAN (linked with Aadhaar), KYC, and bank details for physical shareholders.
- Dividends and other payments will be processed exclusively through electronic mode effective April 1, 2024.
- Special SEBI window for dematerialization of physical shares open from February 5, 2026, to February 4, 2027.
- Securities dematerialized under the special window will be subject to a one-year lock-in period.
- Physical folios without updated KYC will be ineligible for lodging grievances or receiving service requests from the RTA.
Alphageo (India) Limited reported a 20.6% YoY increase in FY26 revenue to ₹109.72 crore, driven by higher geophysical survey activity. However, the company's net loss nearly doubled to ₹14.29 crore from ₹7.63 crore in FY25, as total expenses outpaced income growth. Despite the poor bottom-line performance, the Board recommended a dividend of ₹5 per share. Investors must remain wary of significant legal and tax contingencies totaling over ₹38 crore, which represent a substantial portion of the company's equity.
- Revenue from operations increased to ₹109.72 crore in FY26 from ₹90.96 crore in FY25.
- Net loss for FY26 widened significantly to ₹14.29 crore compared to a loss of ₹7.63 crore in the previous fiscal.
- Board recommended a dividend of ₹5 per equity share (50% of face value).
- Total expenses rose 21.4% to ₹133.83 crore, with geophysical survey costs increasing by 35% YoY.
- Disclosed contingent liabilities of ₹22.46 crore for tax demands and ₹16.01 crore for FEMA-related seizures.
Financial Performance
Revenue Growth by Segment
The company operates primarily in the seismic survey services segment. For FY24, operating income grew 49.6% YoY to INR 98.67 Cr from INR 65.95 Cr in FY23. However, for H1 FY26 (consolidated), revenue was INR 34.21 Cr, while standalone revenue for the same period was INR 14.88 Cr, representing a 2.1% YoY decline from INR 15.20 Cr in H1 FY25.
Geographic Revenue Split
Revenue is split between India and International (Dubai) operations. Based on H1 FY26 consolidated revenue of INR 34.21 Cr and standalone (India) revenue of INR 14.88 Cr, international operations via Alphageo International Ltd (Dubai) contributed approximately 56.5% (INR 19.33 Cr) of total income, while India operations contributed 43.5%.
Profitability Margins
Profitability has seen significant volatility. FY24 PAT margin dropped to 1.06% from 19.7% in FY23, with PAT falling 91.9% to INR 1.05 Cr. For H1 FY26, the standalone net margin was negative due to a loss of INR 4.83 Cr on revenue of INR 14.88 Cr, compared to a profit of INR 4.67 Cr in H1 FY25, a decline of 203% YoY.
EBITDA Margin
Core profitability is impacted by high fixed costs and seasonality. For H1 FY26, the standalone operating profit before working capital changes was a negative INR 1.26 Cr, compared to a positive INR 4.22 Cr in H1 FY25. Consolidated PAT for H1 FY26 stood at INR 0.64 Cr (INR 64.43 Lakhs).
Capital Expenditure
Historical capital expenditure is reflected in the depreciation and amortisation expense, which was INR 8.51 Cr for H1 FY26, up 31.5% from INR 6.47 Cr in H1 FY25, indicating continued investment in seismic equipment and technology.
Credit Rating & Borrowing
CRISIL reaffirmed and subsequently withdrew the rating of 'CRISIL BBB+/Negative'. The company maintains a healthy financial risk profile with NIL debt and a large net worth expected at INR 271.63 Cr. Interest coverage for FY24 was strong at 59.39 times.
Operational Drivers
Operational analysis data not yet available for this company.
Strategic Growth
Growth Strategy
Growth is pursued through maintaining a dominant market position as India's largest onshore seismic provider, leveraging a 30-year track record, adopting the latest seismic technology, and maintaining strong execution capabilities to secure repeat orders from major PSUs like ONGC and Oil India.
Products & Services
2D and 3D seismic data acquisition, processing, and interpretation services for oil and gas exploration and production companies.
Brand Portfolio
ALPHAGEO
Market Expansion
The company has expanded into international markets through its Dubai-based subsidiaries, Alphageo International Ltd and Alphageo DMCC, to diversify its geographic revenue base.
Market Share & Ranking
Largest onshore seismic survey services provider in India.
Strategic Alliances
The company has a material Indian subsidiary and Joint Venture, Alphageo Offshore Services Private Limited, to undertake offshore and transition zone geophysical services.
External Factors
Industry Trends
The industry is characterized by a shift toward high-resolution 3D seismic surveys and increased exploration activity in India. The company is positioned as a leader in this space due to its established market position and technology adoption.
Competitive Landscape
The landscape is dominated by a few players capable of handling large-scale PSU tenders, with Alphageo being the primary domestic provider.
Competitive Moat
The company's moat is built on its status as the largest onshore seismic provider in India with a 30-year track record and strong relationships with PSU giants. This is sustainable due to the high entry barriers involving specialized equipment and execution expertise.
Macro Economic Sensitivity
Highly sensitive to government policies regarding oil exploration and the capital expenditure budgets of major PSUs like ONGC.
Consumer Behavior
Not applicable as the company provides B2B specialized services.
Geopolitical Risks
Exposure to Middle Eastern markets through Dubai subsidiaries (Alphageo International Ltd) makes the company susceptible to regional geopolitical stability and trade regulations.
Regulatory & Governance
Industry Regulations
Operations are governed by SEBI (LODR) Regulations 2015 and the Companies Act 2013, specifically regarding related party transactions (Section 188) and material subsidiary disclosures (Regulation 16 and 24).
Legal Contingencies
A legal proceeding was received by Alphageo Offshore Services Private Limited via post on 04-11-2025; however, the specific case value and nature were not detailed in the provided announcement.
Risk Analysis
Key Uncertainties
Seasonality in operations and volatility in cash flows are the primary uncertainties, with a potential impact of over 50% on quarterly revenue during monsoon periods.
Geographic Concentration Risk
Significant concentration in India (43.5%) and Dubai (56.5%).
Third Party Dependencies
High dependency on ONGC and Oil India Ltd for the majority of order inflows.
Technology Obsolescence Risk
Risk of obsolescence if the company fails to upgrade to the latest seismic data processing software and acquisition hardware.
Credit & Counterparty Risk
Receivables are primarily from large PSUs and established international entities, generally representing low credit risk but subject to payment cycle delays.
