Alpa Laboratories Posts Full-Year Profit Growth Despite Weak Final Quarter
Annual profit rose 16.3% even as the March quarter saw revenue decline and profit margins contract sequentially.
Alpa Laboratories delivered a strong full-year performance with profit up 16.3%, though the final quarter showed pressure with lower revenue and a sharp drop in quarterly profit.
Alpa Laboratories capped its financial year with a mixed quarter, as annual profit growth was overshadowed by a sharp decline in the final three months. While the full-year picture shows resilience, the March quarter reveals emerging pressures on both sales and profitability.
For the quarter ended March 2026, revenue fell 21.3% year-on-year to ₹31.4 crore. Profit also declined 27.4% from the previous quarter to ₹1.38 crore. However, the year-on-year profit comparison is distorted by a loss in the same quarter last year; the net profit margin actually improved to 4.4% from -5.3% a year ago. Sequentially, the margin narrowed from 6.6% in Q3.
The quarterly trajectory over the past year has been volatile, as shown in the table below.
Revenue (₹ Cr)
Profit (₹ Cr)
Net Profit Margin
| Metric | CurrentQ4 FY26 | PreviousQ3 FY26 | Same quarter LYQ4 FY25 |
|---|---|---|---|
| Revenue (₹ Cr) | 31.4YoY -21% | 29.05 | 39.92 |
| Profit (₹ Cr) | 1.38YoY +165% | 1.90 | -2.12 |
| Net Profit Margin | 4.4%YoY +183% | 6.6% | -5.3% |
Zooming out, the full-year results tell a more positive story. For FY25 (the latest completed fiscal year), revenue grew 3.4% to ₹112.45 crore, while profit jumped 16.3% to ₹19.5 crore. This drove the annual net profit margin to a healthy 17.3%. Over a five-year horizon, profit has grown at a compound annual rate of 11.4%, significantly outpacing nearly flat revenue growth.
Key Points
- The company maintains a robust balance sheet with zero debt and a strong interest cover of 111.7 times.
- Return on Equity (ROE) stood at 12.06% for the latest period.
- The stock trades at a significant discount to the industry, with a P/E of 11.2 compared to the sector average of 37.4.
The challenge for Alpa Labs will be to stabilize its quarterly earnings after a year of extreme fluctuations and translate its strong annual profitability into more consistent performance.
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· ALPA
(BSE)
ISIN: INE385I01010
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