Australian Premium Solar (India) Limited — Investor Meet, 27-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Australian Premium Solar reported FY25 revenue of INR 438.87 Cr, nearly tripling YoY, with PAT at INR 26.71 Cr (170% growth). H2 turnover was INR 275 Cr at 75%-80% plant utilization. An 800 MW Topcon panel line will start by August, targeting 400-450 MW production in FY26. Plans include a 4 GW solar cell facility for commercial production by FY27-end with CapEx of INR 150 Cr (FY26) and INR 850 Cr (FY27).

Segments expand across distribution (2 to 8 states), govt. pump tenders (~INR 300 Cr order book), and retail/C&I (10-15% sales). Management expects 75% CAGR over two years, aims for mostly debt-free by FY28, despite near-term funding. Retail growth limited by domestic solar cell supply; exports depend on excess capacity and U.S. certification post-Topcon launch.

The diversified model, focus on sustainable growth, healthy working capital, and strong supplier ties stand out. Confident management tone on scaling efficiently while maintaining margins and market share.