Australian Premium Solar (India) Ltd
Incorporated in 2013, Australian Premium Solar Ltd is a solar panel and inverter manufacturer, and an EPC services provider.[1]
- Market Cap ₹ 975 Cr.
- Current Price ₹ 486
- High / Low ₹ 654 / 345
- Stock P/E 20.7
- Book Value ₹ 51.0
- Dividend Yield 0.00 %
- ROCE 70.5 %
- ROE 57.8 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 100% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 43.4%
Cons
- Stock is trading at 9.52 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -0.67%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Electrical Equipment Heavy Electrical Equipment
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 50 | 74 | 98 | 94 | 149 | 433 | 503 | |
| 47 | 70 | 93 | 88 | 140 | 377 | 437 | |
| Operating Profit | 3 | 4 | 5 | 6 | 9 | 56 | 66 |
| OPM % | 5% | 5% | 5% | 6% | 6% | 13% | 13% |
| 0 | 0 | 0 | 0 | 1 | 2 | 2 | |
| Interest | 0 | 0 | 0 | 1 | 0 | 1 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 4 | 4 |
| Profit before tax | 2 | 2 | 4 | 5 | 8 | 53 | 63 |
| Tax % | 27% | 25% | 26% | 28% | 25% | 26% | |
| 1 | 2 | 3 | 3 | 6 | 39 | 47 | |
| EPS in Rs | 610.00 | 900.00 | 1,350.00 | 1,650.00 | 3.12 | 19.82 | 23.68 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 54% |
| 3 Years: | 64% |
| TTM: | 190% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 100% |
| 3 Years: | 144% |
| TTM: | 536% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 6% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 41% |
| 3 Years: | 43% |
| Last Year: | 58% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.02 | 0.02 | 0.02 | 0.02 | 20 | 20 |
| Reserves | 7 | 8 | 11 | 15 | 28 | 68 |
| 1 | 3 | 3 | 2 | 10 | 8 | |
| 18 | 23 | 21 | 22 | 23 | 113 | |
| Total Liabilities | 26 | 35 | 35 | 39 | 80 | 208 |
| 5 | 8 | 7 | 7 | 19 | 30 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 1 | 1 | 0 | 0 | 0 |
| 21 | 26 | 27 | 32 | 61 | 178 | |
| Total Assets | 26 | 35 | 35 | 39 | 80 | 208 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 5 | 3 | 3 | -5 | 24 | ||
| -6 | -1 | -3 | -13 | -14 | ||
| 2 | -1 | -1 | 35 | -2 | ||
| Net Cash Flow | 1 | 2 | -1 | 16 | 9 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 36 | 14 | 11 | 38 | 40 | 36 |
| Inventory Days | 48 | 51 | 30 | 22 | 12 | 51 |
| Days Payable | 141 | 118 | 67 | 88 | 48 | 90 |
| Cash Conversion Cycle | -57 | -53 | -26 | -28 | 5 | -3 |
| Working Capital Days | 18 | 1 | 6 | 22 | 46 | 31 |
| ROCE % | 28% | 31% | 33% | 23% | 70% |
Documents
Announcements
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Analysts/Institutional Investor Meet/Con. Call Updates
17 September 2025 - Virtual analyst meeting with Arihant Capital on Sept 25, 2025, 10:00-11:00 IST.
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Credit Rating- Revision
11 September 2025 - CRISIL upgraded APS long-term to BBB/Stable, short-term to A3+ on Rs50 crore facilities (11 Sep 2025)
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Updates
6 September 2025 - Web-link and Annual Report FY2024-25; AGM on September 30, 2025; sent to non-email shareholders.
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Copy of Newspaper Publication
6 September 2025 - Notice dispatched for 12th AGM and Annual Report FY2024-25; published Sept 6, 2025.
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Shareholders meeting
5 September 2025 - AGM Sep 30, 2025; annual report: revenue Rs435.05cr, PAT Rs38.83cr, two 400MW lines.
Annual reports
Concalls
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Aug 2025Transcript PPT REC
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Jul 2025TranscriptNotesPPT
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Oct 2024Transcript PPT REC
Business Overview:[1]
APSL is a homegrown solar solutions provider specializing in the manufacturing of Monocrystalline and Topcon solar modules. It also offers EPC services across residential, commercial, industrial, and agricultural sectors, delivering both solar panels and end-to-end installation solutions.