Australian Premium Solar (India) Ltd.

•

australianpremiumsolar.co.inBSE: -NSE: APS

Market Cap₹ 494 Cr.

Current Price

High / Low₹ 544 / 228

Stock P/E8.7

Book Value₹ 53

Price to Book8.42

Dividend Yield0.00 %

ROCE70.5 %

ROE57.8 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

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PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 41.8%
Company has a good return on equity (ROE) track record: 3 Years ROE 34.4%
Latest quarter profit grew 838.3% YoY, showing strong momentum
Operating margins have improved to 12.8% from 5.5%

CONS

Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.43x)
Stock is trading at 8.4x its book value
Inventory has been piling up - inventory days up from 11 to 22

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsElectricalsElectronics - Components

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SYRMA	1452.40	76.08	28006.70	0.10	105.69	111.72	1588.62	68.29	17.70	10.17
2.	KAYNES	3487.30	67.62	23376.99	0.00	56.43	-24.37	946.02	40.47	13.38	15.60
3.	AVALON	2247.45	112.51	15031.46	0.00	34.87	145.31	484.41	49.83	14.12	11.96
4.	UTLSOLAR	433.60	44.73	13164.55	0.00	577.94	—	13456.93	—	40.63	18.94
5.	CYIENTDLM	836.40	80.87	6639.62	0.00	162.85	2082.10	3738.00	1242.54	10.41	9.93
6.	VIKRAMSOLR	171.35	17.40	6208.94	0.00	19.78	-85.17	1563.09	37.89	34.07	8.06
7.	SAATVIKGL	421.25	21.58	5354.30	0.00	5.36	-95.49	511.01	-44.20	55.18	6.62
8.	WEBELSOLAR	77.33	11.08	3357.39	0.32	777.90	1511.56	3726.00	2053.88	63.74	33.70
9.	KERNEX	1712.85	15.09	2878.21	0.00	109.85	1382.00	503.58	800.38	23.69	32.33
10.	MODINSULAT	430.10	21.53	2027.66	0.00	29.60	94.43	188.30	33.19	10.53	16.89
11.	INA	89.03	9.80	1962.68	0.00	380.25	796.94	7406.98	1766.82	34.98	9.74
12.	APS	245.00	8.54	493.92	0.00	14.70	—	153.11	309.17	56.76	13.85

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2023	Jun 2024	Dec 2024	Jun 2025
	37	82	121	152
	35	72	105	131
Operating Profit	2	10	16	21
OPM %	6.25%	11.65%	13.47%	13.68%
	0	0	0	0
Interest	0	0	1	0
Depreciation	0	1	1	1
Profit before Tax	2	9	15	20
Tax %	25.73%	25.20%	25.15%	26.01%
Net Profit	2	7	11	14
	0.78	3.32	5.76	7.32

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	74	98	95	150	433	392
	71	93	89	140	377	343
Operating Profit	4	5	6	9	56	49
OPM %	4.75%	5.25%	6.21%	6.25%	12.85%	12.48%
	0	0	0	1	2	1
Interest	0	0	0	0	1	1
Depreciation	1	1	1	1	4	3
Profit before Tax	2	4	5	8	53	46
Tax %	25.32%	26.07%	27.60%	25.44%	25.69%	25.55%
Net Profit	2	3	3	6	39	34
EPS	1.24	1.86	1652.33	3.12	19.82	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 64%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 144%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -59%

RETURN ON EQUITY

10 Years:: —
5 Years:: 30%
3 Years:: 34%
Last Year:: 58%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0	0	0	20	20
	8	11	15	28	68
	3	2	2	10	8
Trade Payables	19	14	19	16	86
	5	7	4	6	27
Total Liabilities	35	35	39	80	208
	8	7	7	19	30
	1	1	0	0	0
	8	6	5	4	48
	0	0	0	16	43
Cash & Bank	2	4	5	21	29
	16	17	23	20	57
Total Assets	35	35	39	80	208

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	5	3	3	-5	25
Cash from Investing	-6	-1	-1	-13	-14
Cash from Financing	2	-1	-1	35	-2
	1	2	-0	16	9

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	900.55	1352.40	1652.33	3.12	19.82
Book Value (₹)	4235.50	5565.95	7311.56	24.36	44.20
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	2.02	2.83	3.16	3.86	21.84
PROFITABILITY
Operating Margin %	5.13%	5.47%	6.48%	6.08%	12.83%
Net Margin %	2.43%	2.76%	3.42%	4.00%	9.03%
ROE %	21.26%	27.60%	25.66%	19.63%	57.82%
ROCE %	22.68%	30.54%	32.10%	22.88%	70.50%
	5.14%	7.76%	8.95%	10.29%	27.12%
EFFICIENCY
Debtor Days	14	10	24	31	25
Inventory Days	41	27	21	11	22
Payable Days	118	77	78	51	54
	-63	-39	-33	-9	-7
FINANCIAL HEALTH
Debt to Equity (x)	0.39x	0.27x	0.15x	0.20x	0.09x
Interest Coverage (x)	10.45x	13.43x	12.22x	32.28x	44.94x
	1.10x	1.24x	1.47x	2.82x	1.60x
GROWTH
Revenue Growth %	0.00%	32.31%	-3.63%	58.28%	189.17%
Operating Profit Growth %	0.00%	40.99%	16.89%	59.30%	479.29%
Net Profit Growth %	0.00%	50.17%	22.18%	86.19%	535.90%
	0.00%	0.00%	0.00%	-99.81%	535.90%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	70.47x	18.78x
P/B (x)	0.00x	0.00x	0.00x	9.02x	8.42x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	42.31x	12.33x

Shareholding Pattern

Numbers in percentages

	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026	Jun 2026
	73.64	73.64	74.26	72.52	72.62	72.62
	1.42	0.46	0.31	0.00	0.00	0.00
	0.10	0.00	0.11	0.56	0.46	0.47
Government	0.00	0.00	0.00	0.00	0.00	0.00
	24.83	25.90	25.31	26.92	26.93	26.91

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

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