Alpine Texworld IPO

Its Return on Equity (RoE), which shows how well a company generates returns from shareholders' money, improved from 12.17% in FY24 to 33.85% in FY26. Its Return on Capital Employed (RoCE), which measures how efficiently the overall business uses its capital, also increased from 12.12% to 17.56%. This suggests the company has become more effective at turning invested capital into profits.

The company's weaving capacity utilisation (how much of its production capacity is being used) rose from 95.41% in FY24 to 107.30% in FY26. Running above 100% indicates very strong demand for its products and also explains why it is investing in a new manufacturing unit to increase production.

In FY25, the company started its own spinning division, allowing it to produce yarn instead of buying it from outside suppliers. This helped reduce raw material costs and improved its EBITDA margin (operating profit before interest, tax, depreciation, and amortisation) from 10.84% in FY24 to 13.84% in FY26.

The company has installed more than 10.30 MW of solar power capacity across its three solar units. By generating a large part of its own electricity, it reduces dependence on grid power and keeps energy costs under control, supporting its profit margins.

Its debt-to-equity ratio (a measure of debt compared with shareholders' funds) improved from 3.14 in FY25 to 2.35 in FY26. Since the company plans to use ₹52.20 crore from the IPO to repay bank loans, its debt burden and interest expenses are likely to come down even further.

The company's revenue from operations increased from ₹183.60 crore in FY24 to ₹342.71 crore in FY26. During the same period, its profit after tax grew from ₹4.88 crore to ₹21.72 crore. This shows that the business has expanded quickly while also becoming much more profitable.

The company received government subsidies of ₹10.97 crore in FY26, which were equal to 50.50% of its profit after tax. If these subsidies are reduced or withdrawn, its profitability and net profit margin of 6.34% could be affected.

In FY26, the company generated 97.37% of its revenue, or ₹333.69 crore, from Gujarat alone. This means the business is heavily dependent on one region. Any disruption in the state, such as policy changes, natural disasters, or labour strikes, could have a significant impact on its operations.

The company's top 10 customers accounted for 70.33% of its operating revenue, or ₹241.02 crore, in FY26. Since it does not have long-term purchase agreements with these customers, losing even one major buyer could affect its revenue and cash flows.

Its top 10 suppliers accounted for 64.26% of raw material and traded goods purchases, worth ₹175.42 crore, in FY26. Since these supplies are not backed by long-term contracts, any supply disruption or sharp movement in cotton prices could affect production.

Grey Fabric contributed 96.69% of the company's operating revenue, or ₹331.39 crore, in FY26. If demand for grey fabric weakens or market prices fall, the company's revenue and profit margins could come under pressure.

The company's permanent employee attrition rate (the percentage of employees leaving the company) jumped from 14.46% in FY25 to 76.92% in FY26. Such high turnover can increase hiring and training costs and may also affect production efficiency and product quality.