Alps Industries Limited has reported a remarkable financial turnaround in its Q3 FY26 results, posting a profit of ₹6,204.17 lakh for the quarter ended December 31, 2025. This represents a dramatic improvement from the loss of ₹1,604.94 lakh recorded in the corresponding quarter of the previous year. The transformation follows the successful implementation of a resolution plan approved by the National Company Law Tribunal (NCLT).

Financial Performance Overview

The company's quarterly performance shows significant improvement across key metrics:

For the nine-month period ended December 31, 2025, the company reported a profit of ₹2,801.09 lakh compared to a loss of ₹4,766.92 lakh in the corresponding period of the previous year.

Independent Auditor's Review Report

O. Aggarwal & Co. Chartered Accountants has issued the independent auditor's review report for both standalone and consolidated unaudited financial results pursuant to Regulation 33 of SEBI Listing Regulations. The review was conducted in accordance with Standard on Review Engagements (SRE) 2410.

The auditors emphasized the implementation of the resolution plan approved by NCLT and its resultant impacts on financial results. The consolidated results include subsidiaries Alps Energy Private Limited and Alps USA Inc., with minimal impact on overall group performance.

Resolution Plan Implementation

The company's turnaround stems from the implementation of a resolution plan approved by the NCLT on November 4, 2025. The resolution plan was initiated after Edelweiss Asset Reconstruction Company Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. Key aspects include:

Capital Structure Changes

The resolution plan involved significant changes to the company's capital structure:

Corporate Governance and Compliance

The Board of Directors approved maintaining books of accounts and statutory records at the company's new registered office at A-115, Sector-136, Maharishi Nagar, Gautam Buddha Nagar, Noida, Uttar Pradesh, 201304. The auditor's review confirms compliance with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

The successful implementation of the resolution plan has positioned Alps Industries Limited for operational recovery, with the company now operating under new management and a restructured balance sheet that eliminates previous financial burdens.

Alps Industries Limited has formally announced the re-appointment of Mr. Ajay Gupta as the company's Internal Auditor for the financial year 2026-27. The decision was approved by the Board of Directors during their meeting held on March 20, 2026, demonstrating the company's commitment to maintaining robust internal audit functions.

Re-appointment Details

The re-appointment becomes effective from April 01, 2026, and covers a period of one financial year. Mr. Gupta will continue to serve in his dual capacity as Company Secretary & Assistant Vice President – Legal while fulfilling his internal auditor responsibilities.

Professional Background

Mr. Ajay Gupta brings substantial expertise to his re-appointed role as Internal Auditor. He is a qualified Company Secretary and Commerce Graduate with extensive experience in the corporate sector. His professional background encompasses:

• Over 28 years of experience in accounting and company law
• Specialized expertise in internal audits and corporate procedures
• Current role as Company Secretary & Assistant Vice President – Legal at Alps Industries

The internal audit function will be performed with a team of experienced officials working under Mr. Gupta's supervision, ensuring comprehensive coverage of the company's audit requirements.

Regulatory Compliance

The re-appointment has been made in accordance with Section 138 of the Companies Act, 2013, which mandates the appointment of internal auditors for specified companies. Alps Industries has duly informed both the National Stock Exchange of India Limited (Script Code: ALPSINDUS) and Bombay Stock Exchange Limited (Script Code: 530715) about this development as required under Regulation 30 read with Part A of Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

This re-appointment reflects Alps Industries' ongoing commitment to maintaining strong corporate governance practices and ensuring effective internal audit mechanisms for the upcoming financial year.