Solar stock jumps 3% after winning order worth over ₹33 Cr for supply of solar modules

During Monday’s trading session, the shares of one of the leading solar manufacturers in India that produce high-quality Monocrystalline and Topcon solar panels surged nearly 3 percent, upon  securing a purchase order worth nearly Rs. 33.2 crores for the supply of solar PV modules.

Price Movement

With a market cap of Rs. 962.2 crores, the shares of Australian Premium Solar (India) Limited moved up by nearly 3 percent to hit an intraday high at Rs. 506.5 on NSE, as against its previous closing price of Rs. 491.55.

What’s the News

According to the latest regulatory filings with the NSE, Australian Premium Solar (India) Limited has announced securing purchase orders worth nearly Rs. 33.3 crores from an undisclosed client.

The order involves the supply of solar PV modules with capacities of 500 Wp, 520 Wp, and 535 Wp, with an expected completion date of 31st May 2025.

Previous Order & 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.

4th February 2025: The company secured an order worth Rs. 25.4 crores from an undisclosed client for the supply of Mono Crystalline DCR Mono Facial Solar PV Modules (540 Watts, 144 Cells), with specifications including a 40mm frame size, 3.2mm glass size.

Also read: Advani Hotels in focus after reporting 110% YoY increase in revenue in Q3

Financials

Australian Premium Solar experienced significant growth in its revenue from operations, showing a year-on-year rise of 45.3 percent from Rs. 47.5 crores in H1 FY24 to Rs. 69 crores in H1 FY25.

Similarly, its net profit increased during the same period from Rs. 1.65 crores to Rs. 3.55 crores, indicating an impressive growth of around 115.2 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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