Alpine TexworldIPO Review — Financials, Valuation & Peers
A data-only look at the Alpine Texworld IPO: restated financials, valuation ratios, the RHP peer group and third-party analyst views. ipostation does not rate IPOs — nothing here is a recommendation.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2025 | 237.66 | 8.63 | 27 | 51.13 | 294.86 | 166.09 | — |
| FY 2026 | 350.18 | 21.72 | 47.45 | 72.88 | 305.31 | 177.6 | 8.28 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 12.68x
- P/E (post-issue)
- 18.49x
- RoNW
- 29.44%
- RoE
- 33.85%
- RoCE
- 17.56%
- Debt / Equity
- 2.35
- EPS (pre-issue)
- ₹8.28
- EPS (post-issue)
- ₹5.68
- EBITDA Margin
- 13.84%
- PAT Margin
- 6.34%
- P/BV
- 3.78x
- NAV / share
- ₹27.79
- Market Cap
- ₹401.59 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV | Statements |
|---|---|---|---|---|---|---|
| Alpine Texworld | 8.18 | 27.79 | — | 29.44% | — | Consolidated |
| Ken Enterprises | 6.27 | 51.68 | 5.27x | 12.14% | 0.65x | Consolidated |
| Pashupati Cotspin Ltd | 0.66 | 10.4 | 145.21x | 6.33% | 9.5x | Consolidated |
| United Polyfab Gujarat Ltd | 1.07 | 5.78 | 31.6x | 18.48% | 6.6x | Consolidated |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Promoters & Shareholding
Promoters: <p>Sumit Champalal Agarwal, Sandeep Santkumar Agarwal, Sachinkumar Santkumar Agarwal</p>
- Holding (pre-issue)
- 90.36%
- Holding (post-issue)
- 61.95%
- Dilution
- 28.41%
Broker Recommendations
| Reviewer | Verdict |
|---|---|
| Capital Market | Neutral |
Third-party analyst views on the Alpine Texworld IPO, aggregated for reference. ipostation does not rate IPOs — nothing here is investment advice.
Analysis in brief
Analyst view tally
ipostation tracks 1 third-party reviewer on the Alpine Texworld IPO, including Capital Market. Of the 1 with a stated verdict, 1 says "Neutral". These are the views of the named reviewers, reproduced as published — they are not ipostation's recommendation, and this page does not rate the issue.
Margin and return profile
The offer document gives a read on the operating engine behind the issue. Alpine Texworld operates at an EBITDA margin of 13.84% and a net (PAT) margin of 6.34% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 17.56% and a return on equity (RoE) of 33.85%. At the upper band, the post-issue market capitalisation works out to about ₹401.59 crore. These are offer-document figures for the latest reported period (as of 31 Mar 2026); they describe the business as disclosed, not how the stock will trade.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward prepayment or repayment, in part or full of certain outstanding borrowings (₹52.2 crore), alongside proposing to finance the cost of setting up a new weaving unit at proposed manufacturing unit 3 to expand its production capabilities to produce grey fabric at ahmedabad, gujarat, india (₹30.71 crore). In all, 4 objects are disclosed.
Financials
In FY2026, Alpine Texworld reported revenue of ₹350.18 crore and a net profit of ₹21.72 crore. Revenue grew from ₹237.66 crore in FY2025 to ₹350.18 crore in FY2026 (+47.0%). Net worth stood at ₹72.88 crore at the end of FY2026. At the upper band, that puts the issue at roughly 12.7× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 18.49× post-issue earnings and 3.78× book value, against a return on net worth of 29.44% and a debt-to-equity ratio of 2.35. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Ken Enterprises and Pashupati Cotspin Ltd, with a median peer P/E of about 31.6×. The issue's own post-issue P/E works out to 18.49×.
Promoters
The promoters of the company are <p>Sumit Champalal Agarwal, Sandeep Santkumar Agarwal, Sachinkumar Santkumar Agarwal</p>. Promoter holding stands at 90.36% before the issue and comes down to 61.95% after listing.
Frequently asked questions
- What is the reservation split in the Alpine Texworld IPO?
- Of the total shares offered, retail investors get 70%, QIBs 1%, non-institutional investors 29%.
- Who are the promoters of Alpine Texworld and what is their holding?
- The promoters are <p>Sumit Champalal Agarwal, Sandeep Santkumar Agarwal, Sachinkumar Santkumar Agarwal</p>. Promoter holding is 90.36% before the issue and 61.95% after listing.
- What is the P/E ratio of the Alpine Texworld IPO?
- At the upper price band, the Alpine Texworld IPO is valued at 12.68× pre-issue earnings and 18.49× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Alpine Texworld IPO?
- The net proceeds go primarily toward prepayment or repayment, in part or full of certain outstanding borrowings, among 4 disclosed objects.