Shares of one of the leading solar manufacturers in India that produce high-quality Monocrystalline and Topcon solar panels surged nearly 3 percent on NSE at Rs. 543.8 on Friday, after the company secured a purchase order worth nearly Rs. 23.2 crores for the supply of solar panels.
At 11:52 a.m., the shares of Australian Premium Solar (India) Limited were trading in the green at Rs. 536.95, up by nearly 1.5 percent, as against its previous closing price of Rs. 529.1, with a market cap of Rs. 1,060 crores.
What’s the News
As per the latest regulatory filings with the NSE, Australian Premium Solar (India) Limited has secured a purchase order valued at around Rs. 23.18 crores.
The scope of the order includes the supply of solar panels, with a total quantity of 18,000 units, having a capacity of 540 watts. This order is scheduled to be executed within a timeframe of 3 months.
The company has disclosed that the purchase order was secured from a client but, due to privacy agreements and mutual understanding, the client’s name cannot be revealed.
Previous Order
2nd January 2025: Australian Premium Solar secured an order worth around Rs. 13.85 crores from Tripura Renewable Energy Development Agency (TREDA), Department of Power, Government of Tripura.
As per the regulatory filings, the company received a Letter of Award (LoA) for the solarisation of 2 HP AC Agricultural Pumps of a total quantity of 500 numbers in Tripura.
The order was under the PM-KUSUM Scheme (Component C) of the Ministry of New & Renewable Energy, Government of India.
Previous News
17th December 2024: Australian Premium Solar announced plans for a proposed capital increase to accelerate growth in the renewable energy sector.
As per the filings, the company plans to raise its authorized share capital from Rs. 20 crore to Rs. 22 crore, increasing authorized equity shares from 2 crore to 2.20 crore shares at Rs. 10 per share.
The proposed corporate action includes two key issuances: firstly, up to 3,83,500 equity shares to non-promoter shareholders at Rs. 527 per share (comprising Rs. 10 face value and a Rs. 517 premium); and secondly, up to 94,750 fully convertible warrants to promoter shareholders, each convertible into one equity share at the same price.
This strategic capital expansion is designed to strengthen the company’s financial position and create investment opportunities.
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Financials
Australian Premium Solar experienced significant growth in its revenue from operations, showing a year-on-year rise of 58 percent from Rs. 95 crores in FY23 to Rs. 150 crores in FY24.
Similarly, its net profit increased during the same period from Rs. 3 crores to Rs. 6 crores, indicating an impressive growth of around 100 percent YoY.
About the company
Established in 2013, Australian Premium Solar (India) Limited is engaged in the business of two verticals: manufacturing of solar modules and EPC services of rooftop solar and solar pumps. Its product range serves the residential, commercial, industrial, and agricultural sectors, providing both solar panels and installation services.
It is a leading indigenous solar solutions provider specializing in the manufacturing of Monocrystalline and Topcon solar modules. The company derives around Rs. 64.03 crores from the manufacturing of solar modules amounting to 67.71 percent of total revenue.
Though the majority of the company’s revenue is derived from the manufacturing vertical, it plans to aggressively expand into EPC services for solar systems and the solar pump sector, as these areas offer higher profit margins.
Written by Shivani Singh
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