Alpine Texworld Limited

Incorporated in 2016, Alpine Texworld began commercial production in 2017 and has built an integrated manufacturing base in Ahmedabad, Gujarat, combining weaving, yarn spinning, and sizing operations. The company operates 112 Toyota shuttleless air-jet looms with an installed annual weaving capacity of 180 lakh metres, alongside a Karl Mayer sizing machine and four Saurer open-end rotor spinning machines with a combined annual capacity of 6,000 metric tonnes of yarn.

In 2025 the company commissioned a dedicated spinning facility as part of a backward integration strategy, reducing reliance on third-party yarn suppliers. Following the acquisition of a 97 percent stake in Alpine Cottweave LLP, the group added 72 Picanol air-jet looms, lifting consolidated weaving capacity to 276 lakh metres annually.

Manufacturing is the company's core business, contributing over 97 percent of FY2026 revenue, with grey fabric alone accounting for nearly 97 percent of revenue from operations. The company has also invested in renewable energy, installing 10.3 MW of combined rooftop and ground-mounted solar capacity to lower its long-term power costs. As of March 31, 2026, the company employed 164 people.

The promoters are Sumit Champalal Agarwal, Sandeep Santkumar Agarwal, and Sachinkumar Santkumar Agarwal, who together hold approximately 90.4 percent of the company pre-issue.

The Alpine Texworld IPO is a 100 percent fresh issue of 1,20,24,000 equity shares, aggregating up to ₹126.25 crore at the upper price band, with no offer-for-sale component; all net proceeds go to the company itself rather than to selling shareholders.

The issue is allocated 70 percent to Retail investors, 29 percent to Non-Institutional Investors, and just 1 percent to Qualified Institutional Buyers, an unusually retail-heavy structure reflecting the issue's smaller size and SME-adjacent profile despite its mainboard listing.

On financial performance, consolidated revenue grew from roughly ₹237.66 crore in FY2025 to about ₹350.18 crore in FY2026, with profit after tax rising sharply from ₹8.63 crore to ₹21.72 crore over the same period, a 152 percent increase. Return on Net Worth reached 29.44 percent in FY2026, up from 16.78 percent the prior year, while EPS rose to ₹8.28 pre-issue.

Unlike many recent mainboard debutants, Alpine Texworld carries meaningful leverage, with a Debt-to-Equity ratio of 2.35x and total borrowings of approximately ₹177.60 crore as of March 31, 2026; part of the issue proceeds (₹52.20 crore) are earmarked specifically to repay this debt. Against smaller listed textile peers such as United Polyfab, Ken Enterprises, and Pashupati Cotspin, the company's post-issue P/E of approximately 18.49x sits within a wide peer range (5.27x to 145.21x), making direct comparison difficult; investors should weigh the company's strong recent profit growth and capacity expansion against its comparatively high leverage and the execution risk tied to funding a new manufacturing unit from IPO proceeds.