Australian Premium Solar (India), known for its Monocrystalline and Topcon solar panels, has just landed a hefty purchase order. The deal, valued at INR 23.2 crore, involves supplying 18,000 panels, each with a capacity of 540 watts. This is another contract showcasing the company’s growing influence in India’s renewable energy market. The company is set to fulfil the order in three months.
Australian Premium Solar – Market Reaction
The market took note. Shares of Australian Premium Solar jumped by nearly 3% to close at INR 543.8 on the NSE. By mid-morning, the stock was still up at INR 536.95, a 1.5% increase from the previous day’s close of INR 529.1. With a market cap of INR 1,060 crore, investors seem to be betting big on the company’s potential. Analysts are pointing to this as a sign of a bullish trend in renewables, driven by the company’s strong performance and execution prowess.
Order Details
Regulatory filings reveal that this order involves 18,000 solar panels, each boasting 540 watts. The client’s identity remains under wraps due to confidentiality clauses, but the deal’s quick turnaround speaks volumes about Australian Premium Solar’s capability to handle big projects. This is not the company’s first venture; contracts have been accumulating, demonstrating its market leadership.
Just a day earlier, on 2 January 2025, the company secured another deal worth INR 13.85 crore from Tripura Renewable Energy Development Agency (TREDA), under the PM-KUSUM Scheme, to solarize 500 agricultural pumps in Tripura.
Back in November 2024, the company clinched orders worth INR 27.05 crore for solar panels and inverters, diversifying product offerings. These are set to be completed by March 2025, showing a commitment to broaden the market footprint and innovate with products like the APSG-series inverters.
Financial Health and Expansion
Financially, the company is on an upward trajectory. Revenue from operations soared by 58% from INR 95 crore in FY23 to INR 150 crore in FY24. Net profit has also doubled from INR 3 crore to INR 6 crore. The growth story is compelling, marked by operational efficiency and market demand.
The company is not stopping there. On 17 December 2024, plans were announced to boost authorized share capital to INR 22 crore, proposing to issue 3,83,500 equity shares and 94,750 convertible warrants at INR 527 each. This move aims at funding further expansion and seizing new opportunities in the green energy space.
Looking Ahead
Since 2013, Australian Premium Solar has been juggling manufacturing solar modules and providing EPC services for various sectors including agriculture, residential, and industrial. With about 68% of its revenue from manufacturing, the company is now aggressively pushing into EPC services, aiming for higher margins and aligning with market trends.
Conclusion
This INR 23 crore order isn’t just another number in the books; it signifies Australian Premium Solar’s robust growth and strategic foresight in India’s renewable energy landscape. With solid financials, smart capital moves, and a continuous flow of contracts, the company is not just participating in the green revolution; it’s leading it. Investors and stakeholders should keep an eye out as this company continues to shape the future of sustainable energy in India.
Australian Premium Solar made its stock market debut on January 18, 2024. On the listing day, the stock delivered multibagger returns, soaring by 172.22%. Since then, the stock has continued to perform well, providing investors with nearly quadruple their initial investment. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.
