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Alps Industries Ltd

| Quarterly Financial Results Q3 FY 2025-26

Report Source

⬤20th Mar 26

Summary : Alps Industries implemented an NCLT-approved resolution plan, leading to a change in management, restructuring of capital, and a reported profit due to liability write-offs, moving towards a going concern basis.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Cost of Material consumed
  2. Employee Benefit expense
  3. Finance cost
  4. Depreciation & Amortisation expenses
  5. Other expenses
  6. Income from operations
  7. Other income
  8. Equity share capital consolidated and reduced from Rs. 10 to Rs. 1 per share.
  9. New equity and preference shares issued as part of resolution plan.
  10. Subsidiaries: Alps Energy Private Limited and Alps USA Inc.
  11. Both standalone and consolidated unaudited financial results are presented.

Corporate Overview

  1. India (Registered office in Noida, Uttar Pradesh)
  2. USA (through subsidiary Alps USA Inc.)
  3. Underwent Insolvency and Bankruptcy Code (IBC) proceedings.
  4. Implementation of NCLT-approved resolution plan.
  5. Textile Segment
  6. Formal and factual, reporting compliance and resolution plan outcomes.
  7. Textile Segment (sole reportable segment)

Risk Factors

  1. Company emerged from insolvency proceedings.
  2. Financial impact of resolution plan ongoing.
  3. Subsidiary financial results are unaudited.
  4. Past auditor's qualification highlighted issues.

Key Drivers

  1. NCLT approved resolution plan implemented.
  2. New management and board appointed.
  3. Significant liabilities written off, boosting profit.
  4. Capital restructured with new share issuance.

Auditor’s Report

  1. Limited Review Report (not an audit opinion).
  2. Implementation of the resolution plan approved by NCLT and its financial impacts.
  3. Consolidated results include unaudited interim financials of subsidiaries (Alps Energy Private Limited and Alps USA Inc.) which are deemed not material.

Board Commentary

  1. Management of the company has changed.
  2. Existing board of directors replaced by new Board.
  3. Past IBC proceedings and their financial impact.
  4. IBC proceedings initiated by Edelweiss Asset Reconstruction Company Limited.
  5. NCLT approved resolution plan on November 4, 2025.
  6. Issuance of 7,30,02,000 equity shares to Resolution Applicants.
  7. Issuance of 1,00,00,000 preference shares to Edelweiss Asset Reconstruction Company Limited.

Corporate Governance

  1. New Board of Directors replaced the existing management.
  2. Company underwent IBC proceedings, indicating past governance issues.

Management Discussion & Analysis

Future Strategy

  1. Implementation of NCLT-approved resolution plan.
  2. Maintenance of books and records at new registered office.

Operational Focus Areas

  1. Re-appointment of Internal Auditor for FY 2026-27.
  2. Shifting of registered office and records to new location.

Performance Drivers

  1. Reported profit primarily due to write-off of liabilities as per approved resolution plan.

Risk Control Measures

  1. Successful implementation of the NCLT-approved resolution plan.
  2. Settlement of liabilities as per the resolution plan.

Critical Risks

  1. Past insolvency proceedings and their financial implications.
  2. Subsidiaries' interim financial results are unaudited by their auditors.
Alps Industries Ltd (ALPSINDUS) Quarterly Report Analysis & Insights | Dhanarthi