Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · APLAB LTD. · 28 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
APLAB LTD.
BSE: 517096
BSE: 517096
Industrials › Capital Goods › Electrical Equipment › Other Electrical Equipment
APLAB LTD.
StateQ4 FY26 filed
Last close · 28 Oct 2026₹65.90
Market cap₹0.1k cr
TTM P/E · P/B · EV/EBITDA38.7 · 5.02 · 17.8
APLAB LTD. is a Electrical Equipment company. The annual-report business brief for this company has not been generated yet; the numbers below are as filed.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 51 | 51 | 50 | 64 | 58 |
| EBITDA (ex other income) | 5 | 3 | 4 | (8) | 3 |
| margin % | 9.7 | 6.2 | 7.9 | (12.5) | 5.1 |
| Owners' profit | 0 | 0 | 1 | 0 | 3 |
| EPS, as reported (₹) | 0.19 | 0.20 | 0.72 | 0.23 | 1.69 |
| ROE % · ROCE % | 0.0 · (0.0) | (1.0) · 6.5 | 7.9 · 22.8 | 2.5 · (13.8) | 12.6 · 20.8 |
| Debt / equity (x) | (2.29) | (2.54) | 2.56 | 2.89 | 0.94 |
| Cash from operations | 18 | (2) | 1 | 2 | 14 |
| Capex | (1) | (1) | (1) | (1) | (3) |
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · APLAB LTD. · 28 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 10 | 14 | 16 | 24 | 15 | 17 | 11 | 14 |
| Profit before tax | 0 | 2 | (8) | 0 | 1 | 2 | 1 | (1) |
| Net profit | 0 | 2 | (8) | 7 | 1 | 2 | 1 | (1) |
| EPS (₹) | 0.09 | 1.38 | (6.69) | 6.03 | 0.68 | 1.04 | 0.42 | (0.49) |
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WAAREE ENERGIES LIMITED | 65,440 | 17.1 | 4.36 | 10.6 | 25.9 | 29.0 | — | 20.3 |
| APAR INDUSTRIES LTD. | 60,809 | 51.5 | 11.27 | 32.0 | 18.1 | 21.9 | 29.1 | 12.0 |
| PREMIER ENERGIES LIMITED | 39,130 | 23.2 | 9.08 | 16.0 | 35.0 | 25.7 | — | 30.8 |
| MTAR TECHNOLOGIES LIMITED | 20,676 | 154.9 | 25.14 | 110.5 | 11.4 | 12.4 | 28.9 | 25.8 |
| DIAMOND POWER INFRA LTD | 17,654 | 89.8 | — | 87.0 | (26.2) | 8.6 | — | 12.3 |
| EMMVEE PHOTOVOLTAIC PWR L | 16,571 | 12.4 | 4.48 | 9.2 | 29.3 | 31.2 | — | 36.3 |
| AVALON TECHNOLOGIES LTD | 14,460 | 108.1 | 20.04 | 72.0 | 15.6 | 20.0 | — | 12.5 |
| GENUS POWER INFRASTRU LTD | 8,156 | 11.4 | 3.68 | 10.4 | 26.7 | 22.7 | 50.8 | 22.1 |
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 38.7 | 22.6 | 36 of 52 | 31% |
| P/B | 5.0 | 3.3 | 36 of 49 | 27% |
| ROCE | 12.0 | 12.4 | 30 of 55 | 46% |
| ROE | 12.6 | 12.4 | 25 of 50 | 51% |
| Debt / Equity | 0.9 | 0.3 | 41 of 50 | 18% |
| EBITDA margin | (1.4) | 12.6 | 51 of 51 | 0% |
| Revenue growth | (40.0) | 20.7 | 44 of 46 | 4% |
| Profit growth | (110.3) | 37.7 | 44 of 45 | 2% |
| Market cap | 100 | 576 | 40 of 56 | 29% |
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · APLAB LTD. · 28 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Board meeting to approve September 2026 quarterly and half-year results | results | low | — | — |
| 8 Oct 2026 · SEBI Regulation 74(5) compliance certificate for Sep 2026 quarter | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1 till Q2 results announcement | compliance | minimal | — | — |
| 29 Aug 2026 · All four resolutions approved at 61st AGM with 99.41 percent votes in favour | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Aplab 61st AGM: All 4 resolutions passed with 99.41% majority | board shareholder meetings | low | — | — |
| 28 Aug 2026 · 61st AGM held via video conferencing; 4 resolutions including 2 director appointments | board shareholder meetings | medium | — | — |
| 28 Aug 2026 · Aplab FY26 PAT jumps to Rs 2.52 cr on cost cuts; no dividend | investor communications | low | — | — |
| 13 Aug 2026 · APLAB 61st AGM on Aug 28, 2026; book closure Aug 22-28; e-voting cut-off Aug 21 | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Rights issue proceeds fully used for stated objects; no deviation reported | fund raising | low | — | — |
| 6 Aug 2026 · 61st AGM on 28 Aug 2026; Annual Report FY26 and director appointments | board shareholder meetings | low | — | — |
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in