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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹708.74 Cr
verification pending
Revenue YoY
60.7%
reported change
EBITDA
₹95.6 Cr
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Australian Premium Solar reported a strong FY26 with revenue of ₹708.74 Cr (+60.7% YoY) and EBITDA of ₹95.6 Cr (+62.6% YoY), driven by robust demand across solar modules, EPC, and solar pump segments. The commissioning of a 400 MW TOPCon line expanded total module capacity to 800 MW, with another 400 MW expected by August 2026. Solar pump revenue surged to over ₹300 Cr, contributing significantly to growth. Management guided for 30-35% revenue growth in FY27 with margin improvement, supported by DCR policy tailwinds and expansion into BESS. Key risk: working capital strain from pump segment receivables (90-120 day cycle) could pressure cash flows if collections slow.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects 30-35% revenue growth in FY27, driven by module capacity expansion, solar pump momentum, and EPC projects.
- Margins are expected to improve slightly as price hikes for raw material pass-through take effect, recovering ~2% margin lost in H2 FY26.
- Management targets minimum 30% annual increase in net assets (net worth) over the next three years.
- Company plans to enter BESS with a 1 GWh assembly line (expandable to 3 GWh), focusing on sub-5 MW projects; concrete timeline expected within a quarter.
Risks flagged
- Trade receivables surged to ~₹160 Cr (from ~₹40 Cr in FY25) due to 90-120 day payment cycle for solar pump segment; only ₹40 Cr collected post-March.
- With ALMM for cells effective June 2026, domestic cell supply is tight (20-25 GW capacity vs 40 GW demand); APS relies on long-term supplier relationships but faces execution risk.
- Glass and aluminium price increases in H2 FY26 compressed margins by ~2%; while pass-through is practiced, short-term order commitments could impact profitability.
Key quotes
- We are expecting 30 to 35% growth this year and we are looking for a little bit better margin than this last three four to six months because we lose around 2% margin due to war and other situation.
- We like to invest with financial discipline. We like to manage our risk.
- The DCR panels are usually more in value compared to the non-DCR. So overall margin will be better by selling the DCR panel.
Research modules