Alps Industries Limited (ALPSINDUS)
Latest quarterly results (Q3 FY26)
In its latest reported quarter, Q3 FY26, Alps Industries' revenue was ₹0.0 Cr, and net profit ₹62.0 Cr (against a loss a year earlier).
| Q3 FY26 (₹ Cr) | Value | YoY vs Q3 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹0.0 | — | — |
| Operating profit | ₹0.0 | — | — |
| Net profit | ₹62.0 | from loss | from loss |
| EPS (₹) | 15.86 | from loss | from loss |
📢 Recent Corporate Announcements
Alps Industries Limited announced the voting results for its 54th Annual General Meeting held on September 30, 2026. Shareholders approved the audited financial statements for FY26 with 99.99% equity votes in favor. Additionally, the re-appointment of Non-Executive Non-Independent Director Mr. Sanjeev Khanna was passed with 99.93% equity votes in favor. Both ordinary resolutions were passed with the requisite majority through remote e-voting.
- 54th Annual General Meeting concluded on September 30, 2026
- Adoption of FY26 financial statements passed with 99.99% equity votes in favor and 0.01% against
- Re-appointment of Director Mr. Sanjeev Khanna passed with 99.93% equity votes in favor
- 100% of preference shares voting rights were cast in favor of both resolutions
Alps Industries Limited held its 54th Annual General Meeting (AGM) on September 30, 2026, through video conferencing. Shareholders considered the adoption of audited financial statements for the year ended March 31, 2026, and the reappointment of retiring director Mr. Sanjeev Khanna. The company continues to navigate post-insolvency restructuring after its NCLT resolution plan approval in November 2025, operating with Rs 0 Cr TTM revenue and negative net worth of Rs -8 Cr. Remote and meeting e-voting facilities were provided via CDSL.
- 54th Annual General Meeting held on September 30, 2026, from 03:00 P.M. to 03:50 P.M.
- Considered adoption of audited financial statements for FY ended March 31, 2026
- Considered reappointment of Mr. Sanjeev Khanna (DIN: 11083364) retiring by rotation
- Meeting conducted via CDSL video conferencing platform pursuant to Regulation 30
Alps Industries Limited has announced its 54th Annual General Meeting (AGM) to be held on September 30, 2026, via Video Conferencing. Key ordinary agenda items include the adoption of the audited balance sheet and financial statements for FY26 and the reappointment of Mr. Sanjeev Khanna as a director retiring by rotation. The cut-off date to determine voting eligibility is September 23, 2026, and the share transfer books will remain closed from September 9 to September 10, 2026. The company also confirmed that no dividend has been declared for the past seven years.
- 54th Annual General Meeting scheduled for September 30, 2026, at 3:00 PM IST via VC/OAVM.
- Cut-off date for determining remote e-voting eligibility set as September 23, 2026.
- Book closure scheduled from September 09, 2026, to September 10, 2026 (both days inclusive).
- Ordinary agenda includes the re-appointment of retiring director Mr. Sanjeev Khanna (DIN: 11083364).
- Company confirmed that no dividend has been declared over the last 7 years.
Alps Industries has announced September 9, 2026, as the record date for its upcoming Annual General Meeting (AGM) scheduled for September 30, 2026. The cut-off date for determining e-voting eligibility is September 23, 2026, with the voting window open from September 27 to September 29. This administrative filing comes while the company is in a restructuring phase under an NCLT-approved resolution plan, having reported zero revenue and a negative net worth of Rs -8 Cr in recent periods.
- Record date for book closure fixed as September 9, 2026
- Cut-off date for e-voting eligibility set for September 23, 2026
- Annual General Meeting (AGM) to be held via Video Conferencing on September 30, 2026
- Remote e-voting period starts September 27, 2026, at 10:00 A.M. and ends September 29, 2026, at 5:00 P.M.
Alps Industries reported a consolidated net loss of Rs 19.21 lakh for the quarter ended June 30, 2026, a sharp reduction from the Rs 17.01 crore loss in the same period last year. Revenue remains negligible at just Rs 0.21 lakh, as the company currently has no operative assets while under the Corporate Insolvency Resolution Process (CIRP). The company is in the phase of implementing an NCLT-approved resolution plan dated November 4, 2025. With a negative net worth of Rs -8 crore and estimated legacy liabilities of Rs 2,219.49 crore, the company's survival depends entirely on successful restructuring.
- Consolidated net loss narrowed significantly to Rs 19.21 lakh from Rs 1,701.48 lakh in June 2025.
- Total revenue for the quarter was a minimal Rs 0.21 lakh, reflecting a lack of operational activity.
- The company is implementing a Resolution Plan approved by the Hon'ble NCLT Prayagraj on November 4, 2025.
- Auditors highlighted that no operative assets remain with the company during this resolution phase.
- Estimated financial impact of legacy liabilities and observations stands at Rs 2,219.49 crore.
Alps Industries 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 Alankit Assignments Ltd, confirms that physical share certificates received for dematerialization were processed and cancelled as per regulatory norms. This is a standard administrative filing and does not impact the company's ongoing insolvency resolution process. The company currently reports zero operating revenue and is awaiting the implementation of an NCLT-approved resolution plan.
- Compliance certificate submitted for the quarter ended June 30, 2026
- Confirmation of share dematerialization and cancellation by R&T agent Alankit Assignments Ltd
- Company remains under a resolution plan approved by NCLT on November 4, 2025
- Financial impact of observations regarding liabilities estimated at ₹2,219.49 Cr
- TTM revenue remains at Rs 0 Cr as the company has no operative assets
Alps Industries Limited has notified the exchanges regarding the closure of its trading window for the quarter ending June 30, 2026. The closure will commence on July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. This restriction applies to promoters, directors, and designated persons until 48 hours after the declaration of the unaudited financial results. Such announcements are standard regulatory procedures for listed companies in India.
- Trading window closure begins on Wednesday, July 1, 2026
- Closure pertains to the unaudited financial results for the quarter ended June 30, 2026
- Restriction remains in place until 48 hours after the results are declared
- Applies to promoter group, directors, and designated persons of the company
Alps Industries Limited has officially informed the stock exchanges that it does not qualify as a 'Large Corporate' (LC) under SEBI guidelines for the financial year ended March 31, 2026. The company's qualified borrowings significantly decreased from Rs. 668.19 at the beginning of the fiscal year to Rs. 22.03 by the end of the period. As it does not meet the specified criteria, the mandatory requirement to raise incremental borrowings through debt securities is not applicable. This disclosure is based on the latest audited financial statements of the company.
- Alps Industries does not meet the SEBI criteria for 'Large Corporate' status as of March 31, 2026.
- Qualified borrowings stood at Rs. 22.03 at the end of the financial year 2025-26.
- Qualified borrowings saw a sharp decline from Rs. 668.19 recorded on April 1, 2025.
- The company is exempt from mandatory fund-raising through debt securities under SEBI circulars dated 2018 and 2023.
Alps Industries Limited has reported a net profit of ₹25.96 crore for the financial year ended March 31, 2026, a significant turnaround from a loss of ₹63.89 crore in the previous year. This profit is entirely due to an exceptional gain of ₹77.37 crore resulting from the implementation of an NCLT-approved resolution plan, which led to the de-recognition of massive financial and operational liabilities. However, the company's core operations remain non-functional, reporting zero revenue from operations for the year. While the balance sheet has been significantly deleveraged, the company's ability to generate sustainable business income remains the primary concern.
- Turned profitable with a consolidated net profit of ₹25.96 crore in FY26 vs a loss of ₹63.89 crore in FY25.
- Recognized an exceptional gain of ₹77.37 crore from the extinguishment of liabilities under a Resolution Plan.
- Total liabilities saw a massive reduction from ₹907.74 crore to just ₹11.29 crore year-on-year.
- Revenue from operations remained at zero, indicating no active core business during the period.
- The Board of Directors did not recommend any dividend for the financial year ended March 31, 2026.
Alps Industries Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, provided by Alankit Assignments Limited, confirms that physical share certificates received for dematerialization during the quarter ended March 31, 2026, have been processed. These certificates were verified, mutilated, and cancelled, with the depository's name updated in the company's records. This is a standard administrative filing required by all listed entities in India.
- Compliance certificate submitted for the quarter ended March 31, 2026.
- Confirmation received from Registrar and Share Transfer Agent (RTA) Alankit Assignments Ltd.
- Physical share certificates for dematerialization were mutilated and cancelled per SEBI norms.
- Records updated to substitute the name of the depository as the registered owner.
Alps Industries Limited has notified the stock exchanges that its trading window will be closed starting April 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is mandatory for the consideration of the company's audited financial results for the quarter and financial year ending March 31, 2026. The window will remain shut for all designated persons, directors, and promoters until 48 hours after the results are declared. This is a standard regulatory procedure and does not indicate any fundamental change in the company's operations.
- Trading window closure effective from April 1, 2026
- Closure pertains to audited financial results for the quarter and year ended March 31, 2026
- Trading window to reopen 48 hours after the official declaration of results
- Restriction applies to all Designated Persons, Directors, and Promoter Group members
Alps Industries has successfully implemented a resolution plan approved by the Hon'ble NCLT on November 4, 2025. The company reported that its entire previous debt has been settled during the quarter ended December 31, 2025. As part of the settlement, the company issued Unlisted Non-Convertible Redeemable Preference Shares (NCRPS) with a face value of ₹1 crore each, totaling ₹21.60 crore. This restructuring significantly alters the company's financial profile by replacing old liabilities with new instruments measured at amortized cost.
- Entire existing debt settled following NCLT order dated November 4, 2025
- Issued ₹21.60 crore worth of Unlisted NCRPS as part of the resolution plan
- Total financial indebtedness now stands at ₹21.60 crore, down from previous distressed levels
- NCRPS measured at amortized cost using the effective interest method under Ind AS 109
Alps Industries has successfully implemented a resolution plan approved by the NCLT on November 4, 2025, resulting in the settlement of its entire previous debt. As of December 31, 2025, the company's total financial indebtedness stands at ₹21.60 crore, represented entirely by unlisted Non-Convertible Redeemable Preference Shares (NCRPS). This restructuring eliminates previous bank loans and revolving facilities, significantly cleaning up the balance sheet. The NCRPS were issued during the quarter and are measured at amortized cost per Ind AS 109.
- Total financial indebtedness reduced to ₹21.60 crore following NCLT resolution plan implementation
- Entire previous bank debt and revolving facilities settled as per NCLT order dated November 4, 2025
- Issuance of unlisted NCRPS worth ₹21.60 crore with a face value of ₹1 crore per share during the quarter
- Company reports zero outstanding defaults to banks or financial institutions as of December 31, 2025
Alps Industries has successfully implemented a resolution plan approved by the Hon'ble NCLT on November 4, 2025. The company reported that its entire previous debt has been settled during the quarter ended December 31, 2025. The current total financial indebtedness stands at Rs 21.60 crore, which consists entirely of unlisted Non-Convertible Redeemable Preference Shares (NCRPS). These securities were issued with a face value of Rs 1 crore each and are measured at amortized cost.
- Entire previous debt settled following NCLT order dated November 4, 2025.
- Total financial indebtedness reduced to Rs 21.60 crore as of December 31, 2025.
- Issued unlisted NCRPS with a face value of Rs 1 crore each during the quarter.
- Zero defaults reported on the newly restructured debt obligations.
- Debt measured at amortized cost using the effective interest method under Ind AS 109.
Alps Industries has successfully implemented a resolution plan approved by the NCLT vide order dated November 4, 2025. As a result of this settlement, the company's total financial indebtedness stood at ₹21.60 crore as of December 31, 2025. The debt primarily consists of unlisted Non-Convertible Redeemable Preference Shares (NCRPS) issued during the quarter. This marks a critical milestone in the company's financial restructuring, effectively settling previous bank and financial institution liabilities.
- Entire previous debt settled following NCLT resolution plan implementation during the quarter.
- Total financial indebtedness reported at ₹21.60 crore as of December 31, 2025.
- Outstanding debt consists of Unlisted NCRPS with a face value of ₹1 crore each.
- Zero defaults reported on the newly structured debt obligations as of the reporting date.
- Resolution plan was officially approved by the Hon'ble NCLT on November 4, 2025.
Financial Performance
Revenue Growth by Segment
Revenue growth is not explicitly detailed by segment as the company reports a significant reduction in business operations; however, the standalone net loss for the half-year ended September 30, 2025, was INR 34.03 Cr (INR 3,403.08 lakh), compared to a loss of INR 31.62 Cr in the previous year's corresponding period, representing a 7.6% increase in losses.
Profitability Margins
The company is currently reporting deep net losses with a net loss of INR 17.10 Cr (INR 1,709.81 lakh) for Q2 FY26 and INR 34.03 Cr for H1 FY26. Profitability is severely impacted by the insolvency process, with accumulated losses and loan liabilities potentially being higher by INR 2,219.49 Cr (INR 221,948.82 lakh) if the resolution plan's accounting treatments were not applied.
EBITDA Margin
Not disclosed in available documents, though the company reports negative cash earnings for the year, leading to a Debt Service Coverage Ratio of 0.00.
Capital Expenditure
Property, plant, and equipment (PPE) are valued at an absolute carrying amount of INR 2.23 Cr (INR 222.60 lakh) as of September 30, 2025. No new planned CapEx is detailed due to the ongoing implementation of the Resolution Plan.
Credit Rating & Borrowing
The company is under the Insolvency and Bankruptcy Code (IBC) process; borrowing costs are not explicitly stated as interest is not being provided on certain loan liabilities pursuant to the resolution plan. Total liabilities as of September 30, 2025, stood at INR 937.15 Cr.
Operational Drivers
Raw Materials
The documents mention 'raw material' generally in the context of availability and price risks; historically, as a textile company, these include cotton and synthetic fibers, though specific names and cost percentages are not disclosed in the current reporting period.
Capacity Expansion
Current operations are minimal; the company states that 'no operative assets remain' with it as it is under CIRP proceedings. No expansion is planned until the Resolution Plan is fully implemented.
Raw Material Costs
Raw material purchase turnover ratio was 120.32 in the previous year (2023-24), but current year costs are not specified due to the reduction in business operations.
Manufacturing Efficiency
Not disclosed in available documents; business operations have been significantly reduced during the CIRP process.
Strategic Growth
Growth Strategy
Growth is contingent upon the successful implementation of the Resolution Plan approved by the Hon'ble NCLT Prayagraj on November 4, 2025. The strategy involves a change in management, with new directors (Mr. Sanjeev Khanna and Ms. Aayushi Kukreja) appointed effective December 1, 2025, to oversee the restructuring and potential revival of operations.
Products & Services
Historically, the company produced textile products including yarn and home furnishings, though current documents indicate 'no operative assets remain' during the resolution phase.
Strategic Alliances
The company is currently managed by a Monitoring Committee and a Resolution Professional (Mr. Hemant Sharma) following the NCLT-approved resolution plan.
External Factors
Industry Trends
The textile industry is facing demand destruction and changing customer preferences. The company is currently positioned in a restructuring phase under IBC, moving from a 'suspended' board status to the implementation of a resolution plan to address its INR 937 Cr+ liability.
Competitive Landscape
The company faces competition in the global textile market, though specific competitors are not named in the filings.
Competitive Moat
The company does not currently possess a sustainable moat as it is in insolvency; any future competitive advantage would depend on the successful execution of the NCLT-approved resolution plan and the expertise of the new management team.
Macro Economic Sensitivity
The company is sensitive to economic developments in India and international markets, particularly regarding bilateral and multilateral trade agreements.
Consumer Behavior
Shifts in customer preferences are identified as a strategic risk that could lead to demand destruction for the company's products.
Geopolitical Risks
Regulatory risks include changes in international trade disputes and bilateral trade agreements which could impact the textile export business.
Regulatory & Governance
Industry Regulations
The company must comply with SEBI (LODR) Regulations and the Companies Act 2013. Operations are currently governed by the Insolvency and Bankruptcy Code (IBC) and the orders of the NCLT Prayagraj.
Legal Contingencies
The company is subject to the implementation of a Resolution Plan approved by the Hon'ble NCLT Prayagraj vide its order dated November 4, 2025. There is a significant observation regarding unprovided interest and liabilities totaling INR 2,219.49 Cr.
Risk Analysis
Key Uncertainties
The primary uncertainty is the successful implementation of the Resolution Plan and the ability of the new management to restart operations. Financial impact of observations regarding liabilities is estimated at INR 2,219.49 Cr.
Third Party Dependencies
High dependency on the successful execution of the resolution plan by the Monitoring Committee and the Resolution Professional.
Technology Obsolescence Risk
Cyber security risk and IT system breakdown are identified as key operating risks.
Credit & Counterparty Risk
Customers' credit risk is identified as a key operating risk, which could impact the realization of trade receivables (Turnover ratio of 10.31).
