Australian Premium Solar (India) Limited Delivers 45% Growth in Total Income in H1 FY27; PAT Up 16% as Module Capacity Scales to 1.2 GW

VMPL
Ahmedabad (Gujarat) [India], November 12: Australian Premium Solar (India) Limited, one of the leading solar manufacturers in India that produces high-quality Monocrystalline and TOPCon solar panels, offers advanced solar water pumps and inverters, and provides comprehensive EPC services, has announced its unaudited consolidated financial results for the H1 FY27 ended September 30th, 2026.
Key Financial Highlights
H1 FY26 H1 FY27
-        Total Income: Rs 439.41 Cr in H1 FY27, compared to Rs 302.93 Cr in H1 FY26, registering a growth of 45.05 percent.
-        EBITDA: Rs 52.40 Cr in H1 FY27, compared to Rs 43.28 Cr in H1 FY26, registering a growth of 21.07 percent.
-        PAT: Rs 33.12 Cr in H1 FY27, compared to Rs 28.60 Cr in H1 FY26, registering a growth of 15.80 percent.
-        EPS: Rs 16.43 in H1 FY27, compared to Rs 14.19 in H1 FY26, registering a growth of 15.79 percent.
Management Commentary
Mr. Nikunj Kumar Chimanlal Patel, Chairman & Executive Director of Australian Premium Solar (India) Limited, commented on the H1 FY27 results- “We are pleased to report a strong H1 FY27, with total income growing 45.05% year-on-year to ₹439.41 crore, EBITDA rising 21.07% to ₹52.40 crore and PAT increasing 15.80% to ₹33.12 crore. EBITDA margin moderated to 11.93% as material costs formed a higher share of revenue with scaling volumes; we expect operating leverage from our expanded capacity to support margins going forward. Reflecting our confidence in the business, the Board has declared an interim dividend of ₹0.15 per equity share.
On the manufacturing front, commercial production commenced at our second 400 MW TOPCon module line on October 13, 2026, increasing our total module capacity to 1.2 GW. This positions APS among the few domestic manufacturers producing high-efficiency TOPCon modules at scale, complementing our EPC, solar pump and inverter offerings.
We have also laid the foundation for our entry into energy storage. During the half-year, we acquired the remaining stake in Aplus Solar Cell Limited for a cash consideration of ₹99,990, making it a wholly owned subsidiary. The battery manufacturing business will operate through Aplus Solar BESS Private Limited, our 90%-held subsidiary, providing a dedicated platform to develop our Battery Energy Storage Systems business. This will enable us to integrate in-house energy storage solutions with our solar modules for captive power and commercial & industrial customers. This strategic expansion comes at a time when India's BESS market is projected to grow from USD 1.54 billion in 2025 to USD 8.59 billion by 2031, supported by the CEA's target of 47 GW of energy storage by 2030.
With 1.2 GW of module capacity, a growing solar pump business, our entry into BESS and captive power, and an expanding footprint across India, we aim to grow our net assets by 25–30%, strengthening our balance sheet to support the next phase of expansion.
About Australian Premium Solar (India) Limited
Established in 2013, Australian Premium Solar (India) Limited is a leading indigenous solar solutions provider specialising in the manufacturing of Monocrystalline and TopCon solar modules, along with offering EPC services for diverse applications.
Drawing on the founders’ extensive international experience in the solar industry, the company develops and produces high-quality, locally-manufactured solar products tailored to various sectors, including residential, commercial, industrial, and agricultural markets. With total module manufacturing capacity scaling to 1.2 GW and new verticals in Battery Energy Storage Systems (BESS) and captive solar power production.
Drawing on the founders' extensive international experience in the solar industry, the company develops and produces high-quality, locally-manufactured solar products tailored to various sectors, including residential, commercial, industrial, and agricultural markets.
As an ISO 9001-certified organization, APS adheres to rigorous quality standards, ensuring reliability and excellence in every product. The company partners with esteemed firms to supply solar panels for critical applications across industries, underscoring its commitment to innovation and advancing renewable energy solutions.
Disclaimer
This document contains forward-looking statements, which are not historical facts and are subject to risks and uncertainties such as government actions, local developments, and technological risks. The Company is not responsible for any actions taken based on these statements and does not commit to publicly updating them to reflect future events or circumstances.
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