Alps Industries Limited

Board Meeting and Key Decisions

The Board of Directors meeting commenced at 11:00 AM and concluded at 05:15 PM on November 13, 2026. The Board considered and approved the following matter:

1. Approval of Unaudited Financial Results: The Unaudited Financial Results (Standalone and Consolidated) along with cash flow statement, related party transaction statement, and statement of assets and liabilities for the quarter and half year ended September 30, 2026, were approved. The results were accompanied by Limited Review Reports from the auditor.

Financial Results Overview (Standalone)

(All figures in ₹ Lakh, unless otherwise stated)

For the quarter ended September 30, 2026 (Unaudited):

  • Total Revenue: ₹0.02
  • Total Expenditure: ₹14.89
  • Loss Before Tax: ₹(14.87)
  • Tax Expense: ₹0.00
  • Loss After Tax: ₹(14.87)
  • Total Comprehensive Loss: ₹(14.87)
  • Basic & Diluted EPS: Not Annualized (₹(0.02) per share)
  • Paid-up Equity Share Capital: ₹769.13 (Face value Re. 1)

For the half year ended September 30, 2026 (Unaudited):

  • Loss After Tax: ₹(34.07)
  • Total Comprehensive Loss: ₹(34.07)
  • Basic & Diluted EPS: Not Annualized (₹(0.04) per share)

Comparative Figures (Quarter ended September 30, 2025 - Unaudited):

  • Loss After Tax: ₹(1,709.81)
  • Basic & Diluted EPS: Not Annualized (₹(4.37) per share)

Comparative Figures (Financial Year ended March 31, 2026 - Audited):

  • Profit After Tax: ₹2,596.44
  • Basic & Diluted EPS: ₹3.37 per share

Financial Results Overview (Consolidated)

The consolidated results include Alps Industries Limited and its subsidiaries:

  • Alps Energy Private Limited
  • Alps USA Inc.

The subsidiaries' results for Q2 FY27 were not reviewed by their auditors. Their contribution was immaterial to the group:

  • Alps Energy Pvt. Ltd.: Revenue ₹NIL, Net Loss ₹0.02 Lakh
  • Alps USA Inc.: Revenue ₹NIL, Net Loss ₹NIL

For the quarter ended September 30, 2026 (Unaudited):

  • Loss After Tax: ₹(34.09)
  • Total Comprehensive Loss: ₹(60.16)

For the half year ended September 30, 2026 (Unaudited):

  • Loss After Tax: ₹(84.00)

Balance Sheet Highlights (Standalone as of September 30, 2026)

  • Total Assets: ₹298.83 Lakh
  • Non-Current Assets: ₹129.96 Lakh (incl. PPE: ₹1.38 Lakh, Investments: ₹128.60 Lakh)
  • Current Assets: ₹168.87 Lakh (incl. Cash & Equiv.: ₹1.80 Lakh, Other Bank Balances: ₹0.32 Lakh)
  • Total Equity: ₹(831.13) Lakh
  • Non-Current Liabilities: ₹1,110.52 Lakh (incl. Borrowings: ₹1,106.13 Lakh)
  • Current Liabilities: ₹19.44 Lakh

Cash Flow Statement (Standalone, H1 FY27)

  • Net Cash Used in Operating Activities: ₹(35.24) Lakh
  • Net Cash from Investing Activities: ₹35.23 Lakh
  • Net Cash Used in Financing Activities: ₹(0.01) Lakh
  • Net Decrease in Cash & Equiv.: ₹(0.02) Lakh

Key Notes to Accounts

1. Audit Committee & Board Approval: The results were reviewed by the Audit Committee and adopted by the Board on November 13, 2026.

2. Segment Reporting: The company has only one reportable segment - Textiles.

3. NCLT Resolution Plan Implementation: A pivotal event significantly impacting the financials:

  • Hon'ble NCLT approved the resolution plan on November 4, 2025.
  • The plan was implemented in the previous financial year (FY2025-26).
  • Financial Impact Includes:
  • Derecognition of financial/operational creditors and extinguishments of liabilities/assets, recognized in P&L as "Exceptional Items."
  • Capital Restructuring: Existing 3,91,14,100 equity shares of ₹10 each were reduced and consolidated to 39,11,410 equity shares of ₹1 each. The reduction was credited to Capital Reserve.
  • New Issuance: Issued 7,30,02,000 new equity shares of Re. 1 each to Resolution Applicants for cash (₹7,30,02,000). Listing with NSE & BSE is underway.
  • Preference Share Issuance: Issued 1,00,00,000 0.01% Non-Cumulative Redeemable Preference Shares (Category "E") of Re. 1 each at a premium of ₹603 per share to Edelweiss ARC Ltd. (EARCL). Total issue: ₹6,04,00,00,000. These are measured at amortized cost and redeemable within 20 years.
  • The financial statements are prepared on a going concern basis.

4. Regrouping of Figures: Previous period figures have been regrouped/recasted where necessary.

5. Debt Disclosure: As of September 30, 2026, the company's total debt is ₹22.91 Crore, entirely comprising long-term Non-Cumulative Redeemable Preference Shares (NCRPS) issued under the NCLT plan. There are no defaults on any debt.

Publication and Availability

In accordance with Regulation 47, a summarized version of the results was published in a newspaper. The full results are available on the company's website (www.alpsindustries.com) and the stock exchanges (BSE: www.bseindia.com, NSE: www.nseindia.com).

Auditor's Review Report

Firm: O. Aggarwal & Co., Chartered Accountants

Conclusion: Based on their review, nothing has come to their attention that causes them to believe the financial results contain any material misstatement.

Emphasis of Matter: The auditor drew attention to Note 4 regarding the implementation of the NCLT resolution plan and its impact on the financial results. Their conclusion is not modified concerning this matter.