Alps Industries has successfully executed its NCLT-approved resolution plan, resulting in a net profit of Rs 26.78 crore for FY 2025-26, largely driven by debt de-recognition. The company underwent a massive capital restructuring, including a 99% reduction in old equity, fresh share allotments, and a complete board overhaul. While the financial turnaround reflects the impact of debt relief, core operations remain minimal. Investors should track the new management's ability to rebuild revenue streams following this survival milestone.
Alps Industries Completes NCLT Resolution, Reports Profit After Massive Restructuring
Net Profit: Rs 26.78 crore | EBITDA: Negative Rs 2.50 crore
Reader Takeaway: Resolution plan cleared the balance sheet via debt de-recognition; operations now focus on stabilization under new management.
What just happened
Alps Industries has officially implemented its NCLT-approved resolution plan, marking a significant pivot for the company after undergoing a rigorous Corporate Insolvency Resolution Process (CIRP). The filing reveals a technical turnaround for FY 2025-26, with the company reporting a profit of Rs 26.78 crore, compared to a loss of Rs 63.99 crore in the previous year. This profit is primarily a result of Rs 77.37 crore in exceptional items related to the de-recognition of liabilities.
Why this matters
The financial results highlight a survival phase. While the bottom line shows profit, the company’s operating business remains severely hampered with total income reported at just Rs 0.16 crore. The resolution plan has fundamentally altered the company's capital base. The existing equity was reduced by 99% and consolidated, followed by a major fresh issue of 7.30 crore shares to a consortium led by Securocorp Securities India Private Limited. Additionally, 1 crore preference shares were issued to Edelweiss Asset Reconstruction Company Limited (EARCL) at a premium.
Management and Structural Changes
In line with the resolution, a new board was appointed effective December 1, 2025. The company has also relocated its registered office to Sector-136, Noida, and appointed M/s O. Aggarwal & Co. as the new statutory auditors.
What to track next
The primary concern for investors now shifts from insolvency survival to operational viability. With minimal revenue and no significant operating assets, the new management team faces the challenge of building a sustainable trading model. Future filings should be monitored for evidence of revenue scaling and progress in post-insolvency stabilization.