Reported Earnings • Jun 02
Full year 2026 earnings released: ₹1.75 loss per share (vs ₹1.10 profit in FY 2025) Full year 2026 results: ₹1.75 loss per share (down from ₹1.10 profit in FY 2025). Revenue: ₹327.4m (down 35% from FY 2025). Net loss: ₹15.9m (down 258% from profit in FY 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Announcement • May 18
Alfa Transformers Limited to Report Q4, 2026 Results on May 30, 2026 Alfa Transformers Limited announced that they will report Q4, 2026 results at 12:15 PM, Indian Standard Time on May 30, 2026 Buy Or Sell Opportunity • Apr 01
Now 24% overvalued The stock has been flat over the last 90 days, currently trading at ₹38.76. The fair value is estimated to be ₹31.31, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.4% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Feb 06
Now 29% overvalued Over the last 90 days, the stock has fallen 26% to ₹39.92. The fair value is estimated to be ₹30.93, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.4% over the last 3 years. Meanwhile, the company became loss making. New Risk • Feb 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Market cap is less than US$10m (₹356.9m market cap, or US$3.90m). Minor Risk Revenue is less than US$5m (₹356m revenue, or US$3.9m). Announcement • Jan 24
Alfa Transformers Limited to Report Q3, 2026 Results on Jan 31, 2026 Alfa Transformers Limited announced that they will report Q3, 2026 results at 12:15 PM, Indian Standard Time on Jan 31, 2026 New Risk • Dec 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹345.5m market cap, or US$3.81m). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Revenue is less than US$5m (₹356m revenue, or US$3.9m). New Risk • Nov 16
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: ₹356m (US$4.0m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹495.0m market cap, or US$5.58m). Minor Risk Revenue is less than US$5m (₹356m revenue, or US$4.0m). Reported Earnings • Nov 16
Second quarter 2026 earnings released: ₹0.63 loss per share (vs ₹1.07 profit in 2Q 2025) Second quarter 2026 results: ₹0.63 loss per share (down from ₹1.07 profit in 2Q 2025). Revenue: ₹58.0m (down 66% from 2Q 2025). Net loss: ₹5.78m (down 159% from profit in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 84% per year, which means it is well ahead of earnings. Announcement • Nov 07
Alfa Transformers Limited to Report Q2, 2026 Results on Nov 14, 2025 Alfa Transformers Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Announcement • Sep 11
Alfa Transformers Limited Announces Chief Financial Officer Changes Alfa Transformers Limited at its board meeting held on September 10, 2025, announced that the board took note of the resignation tendered by Mr. Sarthak Agarwala as Chief Financial Officer of the Company, with effect from September 10, 2025 due to personal reasons and towards pursuing other avenues in professional career. After due consideration, the Board accepted the resignation and placed on record its appreciation for the valuable contributions made by Mr. Sarthak Agarwala during his tenure with the Company. The Board took note of the consent received from Mr. Prasanta Kumar Swain to be appointed as Chief Financial Officer and to be designated as a Key Managerial Personnel and after taking into consideration his profile, The Board decided to appoint him as Chief Financial Officer with effect from September 16, 2025. Mr. Prasanta Kumar Swain, a Member of the Institute of Chartered Accountants of India with over 11+years of increasing experience and responsibility in all areas of general accounting including general ledger, through financial statements, financial analysis, accounts receivable and payable, collections and cash flow, annual financial reports, ensuring compliance of Accounting Standards. Checking the daily cash flow, keeping records of financial transactions as well as customer/supplier account details up to date. Handling Reconciliation statements i.e. Bank, Debtors, Creditors, and GL reconciliation. Preparation of quarterly and annual financial statements as per INDAS, like Balance sheet, profit & loss statements, Change in Equity, cash flow statements and notes forming part of financial statements. He has served in various Companies like MGM BIOFUELS PRIVATE LIMITED, Gupta Power Infrastructure Limited & Nanda Ranjan & Jena Chartered Accountants Firm. Reported Earnings • Aug 16
First quarter 2026 earnings released: ₹0.44 loss per share (vs ₹0.28 loss in 1Q 2025) First quarter 2026 results: ₹0.44 loss per share (further deteriorated from ₹0.28 loss in 1Q 2025). Revenue: ₹49.8m (down 39% from 1Q 2025). Net loss: ₹4.02m (loss widened 59% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 117% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 08
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). Market cap is less than US$10m (₹623.4m market cap, or US$7.28m). Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Profit margins are more than 30% lower than last year (2.0% net profit margin). Announcement • Jul 02
Alfa Transformers Limited, Annual General Meeting, Jul 30, 2025 Alfa Transformers Limited, Annual General Meeting, Jul 30, 2025, at 12:30 Indian Standard Time. Location: pipul restaurant and banquets, 148, mancheswar industrial estate, odisha-751010, bhubaneshwar India Announcement • May 20
Alfa Transformers Limited to Report Q4, 2025 Results on May 27, 2025 Alfa Transformers Limited announced that they will report Q4, 2025 results on May 27, 2025 Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹81.73, the stock trades at a trailing P/E ratio of 60.1x. Average trailing P/E is 35x in the Electrical industry in India. Total returns to shareholders of 968% over the past three years. Recent Insider Transactions • Mar 13
MD & Whole Time Director recently bought ₹1.1m worth of stock On the 11th of March, Dillip Das bought around 15k shares on-market at roughly ₹73.19 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Dillip's only on-market trade for the last 12 months. New Risk • Mar 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.7x net interest cover). Market cap is less than US$10m (₹711.4m market cap, or US$8.16m). Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Profit margins are more than 30% lower than last year (2.5% net profit margin). Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹66.98, the stock trades at a trailing P/E ratio of 49.2x. Average trailing P/E is 34x in the Electrical industry in India. Total returns to shareholders of 857% over the past three years. Reported Earnings • Feb 14
Third quarter 2025 earnings released: EPS: ₹0.43 (vs ₹0.24 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.43 (up from ₹0.24 in 3Q 2024). Revenue: ₹125.0m (down 6.5% from 3Q 2024). Net income: ₹3.96m (up 78% from 3Q 2024). Profit margin: 3.2% (up from 1.7% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has increased by 120% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Feb 13
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. 1 independent director (2 non-independent directors). Woman Non Executive Non Independent Director Sujita Patnaik was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹83.60, the stock trades at a trailing P/E ratio of 71.4x. Average trailing P/E is 39x in the Electrical industry in India. Total returns to shareholders of 1,063% over the past three years. Announcement • Feb 12
Alfa Transformers Limited Announces Resignation of Sandip Kumar Mohanty as Director Alfa Transformers Limited announced that Mr. Sandip Kumar Mohanty has tendered his resignation as Non-Executive Independent Director of the Company with effect from close of business hours on February 12, 2025. Announcement • Feb 06
Alfa Transformers Limited to Report Q3, 2025 Results on Feb 12, 2025 Alfa Transformers Limited announced that they will report Q3, 2025 results at 3:30 PM, Indian Standard Time on Feb 12, 2025 New Risk • Jan 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹849.2m (US$9.81m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Market cap is less than US$10m (₹849.2m market cap, or US$9.81m). Minor Risk Profit margins are more than 30% lower than last year (2.1% net profit margin). Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹92.80, the stock trades at a trailing P/E ratio of 79.3x. Average trailing P/E is 42x in the Electrical industry in India. Total returns to shareholders of 1,032% over the past three years. Announcement • Jan 21
Alfa Transformers Limited Announces Resignation of Suryakanta Das as Non- Executive Independent Director, Member of the Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee Alfa Transformers Limited informed that Mr. Suryakanta Das (DIN: 09421874) has tendered his resignation due to his personal reasons as Non- Executive Independent Director of the Company with effect from close of business hours on January 18, 2025. Mr. Suryakanta Das has confirmed that there are no material reasons for his resignation other than those mentioned in his resignation letter. Consequently, he is also stepping down as the Member of the Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee. New Risk • Nov 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Share price has been highly volatile over the past 3 months (9.1% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (2.1% net profit margin). Market cap is less than US$100m (₹1.23b market cap, or US$14.5m). New Risk • Nov 22
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.1% Last year net profit margin: 18% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.1% average weekly change). Profit margins are more than 30% lower than last year (2.1% net profit margin). Market cap is less than US$100m (₹1.21b market cap, or US$14.4m). Announcement • Nov 13
Alfa Transformers Limited Announces Resignation of Balmukunda Das as Non-Executive Independent Director Alfa Transformers Limited announced that Mr. Balmukunda Das (DIN: 09128997) has tendered his resignation as Non-Executive Independent Director of the Company with effect from close of business hours on 13th November, 2024. Announcement • Nov 06
Alfa Transformers Limited to Report Q2, 2025 Results on Nov 13, 2024 Alfa Transformers Limited announced that they will report Q2, 2025 results on Nov 13, 2024 Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹138, the stock trades at a trailing P/E ratio of 20.6x. Average trailing P/E is 48x in the Electrical industry in India. Total returns to shareholders of 1,502% over the past three years. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹116, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 50x in the Electrical industry in India. Total returns to shareholders of 1,149% over the past three years. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹96.53, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 54x in the Electrical industry in India. Total returns to shareholders of 920% over the past three years. Announcement • Aug 07
Alfa Transformers Limited to Report Q1, 2025 Results on Aug 14, 2024 Alfa Transformers Limited announced that they will report Q1, 2025 results on Aug 14, 2024 Reported Earnings • Jul 31
Full year 2024 earnings released: EPS: ₹8.34 (vs ₹1.11 in FY 2023) Full year 2024 results: EPS: ₹8.34 (up from ₹1.11 in FY 2023). Revenue: ₹509.7m (up 76% from FY 2023). Net income: ₹76.3m (up ₹66.2m from FY 2023). Profit margin: 15% (up from 3.5% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 121% per year but the company’s share price has only increased by 112% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹102, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 53x in the Electrical industry in India. Total returns to shareholders of 872% over the past three years. Announcement • Jul 25
Alfa Transformers Limited, Annual General Meeting, Aug 21, 2024 Alfa Transformers Limited, Annual General Meeting, Aug 21, 2024, at 11:30 Indian Standard Time. Location: pipul restaurant and banquets, 148, mancheswar industrial, estate, bhubaneswar -, 751010, odisha, bhubaneswar India Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₹99.17, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 43x in the Electrical industry in India. Total returns to shareholders of 756% over the past three years. New Risk • May 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹821.7m (US$9.86m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (32% accrual ratio). Market cap is less than US$10m (₹821.7m market cap, or US$9.86m). Reported Earnings • May 29
Full year 2024 earnings released: EPS: ₹8.22 (vs ₹1.11 in FY 2023) Full year 2024 results: EPS: ₹8.22 (up from ₹1.11 in FY 2023). Revenue: ₹515.3m (up 77% from FY 2023). Net income: ₹76.3m (up ₹66.2m from FY 2023). Profit margin: 15% (up from 3.5% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 121% per year but the company’s share price has only increased by 96% per year, which means it is significantly lagging earnings growth. Announcement • May 22
Alfa Transformers Limited to Report Q4, 2024 Results on May 27, 2024 Alfa Transformers Limited announced that they will report Q4, 2024 results on May 27, 2024 Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹104, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 38x in the Electrical industry in India. Total returns to shareholders of 980% over the past three years. Announcement • Mar 27
Alfa Transformers Limited Announces Resignation of Sonam Khandelwal as Company Secretary and Compliance Officer Alfa Transformers Limited announced that Mrs. Sonam Khandelwal has tendered her resignation from the post of Company Secretary & Compliance Officer with effect from closing hours of December 09, 2023. New Risk • Feb 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹805.3m (US$9.71m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹88.00, the stock trades at a trailing P/E ratio of 10.4x. Average trailing P/E is 39x in the Electrical industry in India. Total returns to shareholders of 565% over the past three years. Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: ₹0.24 (vs ₹0.95 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.24 (down from ₹0.95 in 3Q 2023). Revenue: ₹134.8m (up 12% from 3Q 2023). Net income: ₹2.22m (down 75% from 3Q 2023). Profit margin: 1.6% (down from 7.2% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 109% per year whereas the company’s share price has increased by 106% per year. Announcement • Feb 07
Alfa Transformers Limited to Report Q3, 2024 Results on Feb 13, 2024 Alfa Transformers Limited announced that they will report Q3, 2024 results on Feb 13, 2024 Announcement • Jan 15
Alfa Transformers Limited Announces Company Secretary Changes Alfa Transformers Limited announced that the Board of Directors took note resignation of Mrs. Sonam Khandelwal (Membership No. A50045) from the office of Company Secretary & Compliance Officer with effect from closing hours of December 09, 2023 and has appointed Mr. Rajesh Kumar Sundarray (Membership No: A66744) as Company Secretary & Compliance Officer with effect from January 15, 2024. The required details pursuant to listing regulation is herewith enclosed as Annexure- I. Reason for resignation of Mrs. Sonam Khandelwal: Resignation from the Post of Company Secretary due to personal reasons. Mr. Rajesh Kumar Sundarray is a qualified Company Secretary from Institute of Company Secretaries of India (ICSI) with M.N.: A66744 and also, he is a degree holder in Bachelors and Masters of Commerce. He has an experience of more than 3 years and well versed with Company Law, SEBI Laws and other Industrial Laws. Announcement • Dec 05
Alfa Transformers Limited Appoints Sonam Khandelwal as Company Secretary and Compliance Officer Alfa Transformers Limited announced that Mrs. Sonam Khandelwal, an Associate Member of the Institute of Company Secretaries of India (IC51), having Membership No.: 50045, has been appointed as Company Secretary and Compliance Officer of the Company with effect from 5th December. 2023. This is in compliance with the provisions of the Section 203 of the Companies Act, 2013 & the Rules made thereunder & Regulation 6 (1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: ₹6.62 (vs ₹0.31 in 2Q 2023) Second quarter 2024 results: EPS: ₹6.62 (up from ₹0.31 in 2Q 2023). Revenue: ₹139.7m (up 124% from 2Q 2023). Net income: ₹60.6m (up ₹57.8m from 2Q 2023). Profit margin: 43% (up from 4.5% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 68% per year, which means it is significantly lagging earnings growth. Announcement • Nov 04
Alfa Transformers Limited to Report Q2, 2024 Results on Nov 10, 2023 Alfa Transformers Limited announced that they will report Q2, 2024 results on Nov 10, 2023 Announcement • Nov 03
Alfa Transformers Limited Announces Resignation of Mr. Sambit Kar as Company Secretary and Compliance Officer Alfa Transformers Limited informed that Mr. Sambit Kar (A52756), Company Secretary & Compliance Officer of the Company has resigned from the post of Company Secretary with effect from 1 November, 2023. Also Consequent to his resignation Mr. Sambit Kar also ceases to be the Compliance Officer of the Company. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹70.00, the stock trades at a trailing P/E ratio of 24.8x. Average trailing P/E is 36x in the Electrical industry in India. Total returns to shareholders of 362% over the past three years. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹54.53, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 37x in the Electrical industry in India. Total returns to shareholders of 277% over the past three years. Reported Earnings • Jul 26
First quarter 2024 earnings released: EPS: ₹1.34 (vs ₹0.38 loss in 1Q 2023) First quarter 2024 results: EPS: ₹1.34 (up from ₹0.38 loss in 1Q 2023). Revenue: ₹125.3m (up 260% from 1Q 2023). Net income: ₹12.3m (up ₹15.7m from 1Q 2023). Profit margin: 9.8% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 50% per year, which means it is significantly lagging earnings growth. Announcement • Jul 18
Alfa Transformers Limited to Report Q1, 2024 Results on Jul 25, 2023 Alfa Transformers Limited announced that they will report Q1, 2024 results on Jul 25, 2023 New Risk • Jun 25
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Market cap is less than US$10m (₹319.2m market cap, or US$3.89m). Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Revenue is less than US$5m (₹291m revenue, or US$3.5m). Reported Earnings • Jun 24
Full year 2023 earnings released: EPS: ₹1.11 (vs ₹4.33 loss in FY 2022) Full year 2023 results: EPS: ₹1.11 (up from ₹4.33 loss in FY 2022). Revenue: ₹290.5m (up 201% from FY 2022). Net income: ₹10.1m (up ₹49.8m from FY 2022). Profit margin: 3.5% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year whereas the company’s share price has increased by 51% per year. Announcement • Jun 16
Alfa Transformers Limited, Annual General Meeting, Jul 19, 2023 Alfa Transformers Limited, Annual General Meeting, Jul 19, 2023, at 12:00 Indian Standard Time. Recent Insider Transactions • May 26
MD & Whole Time Director recently bought ₹237k worth of stock On the 23rd of May, Dillip Das bought around 7k shares on-market at roughly ₹32.99 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Dillip has been a buyer over the last 12 months, purchasing a net total of ₹382k worth in shares. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹31.31, the stock trades at a trailing P/E ratio of 28.2x. Average trailing P/E is 24x in the Electrical industry in India. Total returns to shareholders of 161% over the past three years. Reported Earnings • May 12
Full year 2023 earnings released: EPS: ₹1.08 (vs ₹4.33 loss in FY 2022) Full year 2023 results: EPS: ₹1.08 (up from ₹4.33 loss in FY 2022). Revenue: ₹294.4m (up 205% from FY 2022). Net income: ₹10.1m (up ₹49.8m from FY 2022). Profit margin: 3.4% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 16
Third quarter 2023 earnings released: EPS: ₹0.95 (vs ₹0.85 loss in 3Q 2022) Third quarter 2023 results: EPS: ₹0.95 (up from ₹0.85 loss in 3Q 2022). Revenue: ₹121.8m (up 427% from 3Q 2022). Net income: ₹8.73m (up ₹16.5m from 3Q 2022). Profit margin: 7.2% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Feb 07
Alfa Transformers Limited to Report Q3, 2023 Results on Feb 14, 2023 Alfa Transformers Limited announced that they will report Q3, 2023 results on Feb 14, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹0.31 (vs ₹1.56 loss in 2Q 2022) Second quarter 2023 results: EPS: ₹0.31 (up from ₹1.56 loss in 2Q 2022). Revenue: ₹62.6m (up 281% from 2Q 2022). Net income: ₹2.84m (up ₹17.1m from 2Q 2022). Profit margin: 4.5% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Announcement • Sep 03
Alfa Transformers Limited, Annual General Meeting, Sep 28, 2022 Alfa Transformers Limited, Annual General Meeting, Sep 28, 2022, at 12:00 Indian Standard Time. Location: Plot No. 3337, M.I.E. Bhubaneswar Odisha India Agenda: To receive, consider and adopt the Audited Balance Sheet of the Company for the year ended 31 March, 2022 including statement of Profit and Loss and Cash flow Statement along with notes on Accounts for the year ended 31 March, 2022 and the Directors' and Auditors' Reports thereon; to consider and re-appoint a Director in place of Mr. Dillip Kumar Das who retires by rotation and being eligible offers himself for reappointment; to consider and confirm the re-appointment of Statutory Auditors of the company and to fix their remuneration; and to consider any other matters. Reported Earnings • Aug 18
First quarter 2023 earnings released: ₹0.38 loss per share (vs ₹1.25 loss in 1Q 2022) First quarter 2023 results: ₹0.38 loss per share (up from ₹1.25 loss in 1Q 2022). Revenue: ₹35.1m (up 42% from 1Q 2022). Net loss: ₹3.43m (loss narrowed 70% from 1Q 2022). Announcement • Aug 07
Alfa Transformers Limited to Report Q1, 2023 Results on Aug 13, 2022 Alfa Transformers Limited announced that they will report Q1, 2023 results on Aug 13, 2022 Reported Earnings • Feb 16
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: ₹0.85 loss per share (down from ₹0.68 loss in 3Q 2021). Revenue: ₹24.1m (down 63% from 3Q 2021). Net loss: ₹7.74m (loss widened 25% from 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 41% per year whereas the company’s share price has fallen by 36% per year. Reported Earnings • Jul 03
Full year 2021 earnings released: ₹12.87 loss per share (vs ₹8.23 loss in FY 2020) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2021 results: Revenue: ₹196.4m (down 40% from FY 2020). Net loss: ₹117.9m (loss widened 57% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 14
New 90-day low: ₹11.40 The company is down 3.0% from its price of ₹11.70 on 14 December 2020. The Indian market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 29% over the same period. Is New 90 Day High Low • Dec 08
New 90-day low: ₹11.60 The company is down 12% from its price of ₹13.15 on 09 September 2020. The Indian market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 23% over the same period. Announcement • Nov 05
Alfa Transformers Limited to Report Q2, 2021 Results on Nov 12, 2020 Alfa Transformers Limited announced that they will report Q2, 2021 results on Nov 12, 2020 Recent Insider Transactions • Oct 04
MD & Whole Time Director recently bought ₹2.0m worth of stock On the 25th of September, Dillip Das bought around 139k shares on-market at roughly ₹14.42 per share. This was the largest purchase by an insider in the last 3 months. This was Dillip's only on-market trade for the last 12 months. Is New 90 Day High Low • Sep 29
New 90-day high: ₹15.70 The company is up 47% from its price of ₹10.70 on 01 July 2020. The Indian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 5.0% over the same period. Announcement • Sep 13
Alfa Transformers Limited to Report Q1, 2021 Results on Aug 21, 2020 Alfa Transformers Limited announced that they will report Q1, 2021 results on Aug 21, 2020 Announcement • Sep 08
Alfa Transformers Limited to Report Q4, 2020 Results on Jun 30, 2020 Alfa Transformers Limited announced that they will report Q4, 2020 results on Jun 30, 2020 
