Australian Premium Solar (India) Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹447 Cr
- P/E
- 7.89
- ROE
- 45.52%
- PEG
- 0.05
- Price to sales
- 0.65
- Debt to equity
- 0.27
- 52W high / low
- ₹522 / ₹205
- Sales growth (5Y)
- 56.23%
- EBITDA margin
- 13.43%
- Net profit margin
- 8.23%
- Promoter holding
- 72.62%
- Sales (last year)
- ₹689 Cr
Incorporated in 2013, Australian Premium Solar Ltd is a solar panel and inverter manufacturer, and an EPC services provider.[1]
Guidance scorecard · Q4 FY26 call
What Australian Premium Solar (India) Ltd's management guided
and where it ranks in Electrical Equipment
Electrical Equipment
RevenueQ4 FY26 call
20–40%- APS expects 30 to 35% revenue growth in FY27, supported by the commissioning of the additional 400 MW Topcon solar module manufacturing line by August 2026.
- For the next three years, APS targets a minimum 30% increase in net assets annually, reflecting an overall growth strategy.
- The company plans moderate growth in turnover while investing profits into higher-growth businesses over the next 18-30 months, focusing less on solar cell manufacturing and more on segments like BESS.
- APS aims to capture about 2 to 2.5% of India's solar module market, anticipating India's demand to grow to 70-80 GW over five years, which supports growth prospects.
2 more points from Australian Premium Solar (India) Ltd's call on revenue
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MarginsQ4 FY26 call
FlatSee what Australian Premium Solar (India) Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- The company has recently commissioned a 400 MW Topcon solar module manufacturing line at Prantij, completing 800 MW capacity in total.
- Remaining 400 MW expansion is underway, expected to be operational by August 2026.
- Capex for new BESS (Battery Energy Storage Systems) assembly line: 3 GWh capacity costing approximately ₹20 crore for machinery.
- APS plans to start with 1 GWh BESS assembly initially, with search ongoing for staff and location; timeline expected within a quarter.
- Focus shifting away from solar cell manufacturing; no major solar cell investment planned for at least 24 months.
- Strategic investments to emphasize BESS and EPC businesses for better growth and financial discipline.
2 more points from Australian Premium Solar (India) Ltd's call on capex
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FundraisingQ4 FY26 call
See what Australian Premium Solar (India) Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
Rising- Current order book for solar pump segment: over ₹150 crore.
- Wholesale distribution side order book: approximately ₹50 crore.
- Retail rooftop order book: around ₹15-20 crore.
- Total order book across segments: roughly ₹220 crore.
- Wholesale distribution typically books orders for 1-2 months to manage price risk.
2 more points from Australian Premium Solar (India) Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Electrical Equipment
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Electrical Equipment companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹72,673 Cr | 18.1 | |
| 2 | 40%+ | Up 2%+ | ₹21,700 Cr | 158.1 | |
| 3 | 40%+ | Up 2%+ | ₹491 Cr | 12.2 | |
| 4 | 40%+ | Up 0–2% | ₹12,434 Cr | 48.4 | |
| 5 | 40%+ | Up 0–2% | ₹2,042 Cr | 35.4 | |
| 6 | 40%+ | Up 0–2% | ₹529 Cr | 7.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Electrical Equipment rankingFinancials of Australian Premium Solar (India) Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Australian Premium Solar (India) Ltd
Quarterly Results
Quarter-by-quarter operating performance
Financials of Australian Premium Solar (India) Ltd
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 50 | 74 | 98 | 94 | 149 | 433 | 689 |
| Expenses + | 47 | 70 | 93 | 88 | 140 | 377 | 596 |
| Operating Profit | 3 | 4 | 5 | 6 | 9 | 56 | 93 |
| OPM % | 5% | 5% | 5% | 6% | 6% | 13% | 13% |
| Other Income + | 0 | 0 | 0 | 0 | 1 | 2 | 1 |
| Interest | 0 | 0 | 0 | 1 | 0 | 1 | 5 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 4 | 9 |
| Profit before tax | 2 | 2 | 4 | 5 | 8 | 53 | 79 |
| Tax % | 27% | 25% | 26% | 28% | 25% | 26% | 29% |
| Net Profit + | 1 | 2 | 3 | 3 | 6 | 39 | 57 |
| EPS in Rs | 610.00 | 900.00 | 1,350.00 | 1,650.00 | 3.12 | 19.82 | 28.04 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Australian Premium Solar (India) Ltd
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.02 | 0.02 | 0.02 | 0.02 | 20 | 20 | 20 |
| Reserves | 7 | 8 | 11 | 15 | 28 | 68 | 142 |
| Borrowings + | 1 | 3 | 3 | 2 | 10 | 8 | 44 |
| Other Liabilities + | 18 | 23 | 21 | 22 | 23 | 113 | 180 |
| Total Liabilities | 26 | 35 | 35 | 39 | 80 | 208 | 386 |
| Fixed Assets + | 5 | 8 | 7 | 7 | 19 | 30 | 67 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 1 | 1 | 0 | 0 | 0 | 0 |
| Other Assets + | 21 | 26 | 27 | 32 | 61 | 178 | 319 |
| Total Assets | 26 | 35 | 35 | 39 | 80 | 208 | 386 |
Financials of Australian Premium Solar (India) Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 5 | 3 | 3 | -5 | 24 | -4 | |
| Cash from Investing Activity + | -6 | -1 | -3 | -13 | -14 | -45 | |
| Cash from Financing Activity + | 2 | -1 | -1 | 35 | -2 | 54 | |
| Net Cash Flow | 1 | 2 | -1 | 16 | 9 | 4 | |
| Free Cash Flow | 1 | 3 | 1 | -19 | 9 | -50 | |
| CFO/OP | 149% | 59% | 56% | -45% | 46% | 10% |
Financials of Australian Premium Solar (India) Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 36 | 14 | 11 | 38 | 40 | 36 | 95 |
| Inventory Days | 48 | 51 | 30 | 22 | 12 | 51 | 34 |
| Days Payable | 141 | 118 | 67 | 88 | 48 | 90 | 88 |
| Cash Conversion Cycle | -57 | -53 | -26 | -28 | 5 | -3 | 41 |
| Working Capital Days | 18 | 1 | 6 | 22 | 46 | 31 | 53 |
| ROCE % | 28% | 31% | 33% | 23% | 71% | 56% |
Guidance history
How Australian Premium Solar (India) Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 20–40% | Flat | Planned | — | Rising |
| Q2 FY26 call → | 40%+ | Flat | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Continue your research
What Australian Premium Solar (India) Ltd's management said in earlier quarters
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