Australian Premium Solar IPO

Australian Premium Solar (India) Limited

₹1,02,000 /2000 sharesMinimum Investment

Australian Premium Solar IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
NSE₹54.00₹140.00₹86.00 (159.26%)

Australian Premium Solar IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
11 Jan ‘24 - 15 Jan ‘24₹1,02,0002,000₹51 - ₹54
Issue SizeIPO Doc
28.08Cr
RHP PDF

About Australian Premium Solar

Australian Premium Solar (India) Limited, incorporated in May 2013, is a solar energy equipment supplier, headquartered in Sabarkantha, Gujarat. The company specializes in manufacturing both Monocrystalline and Polycrystalline Solar Panels as part of its Photovoltaic Module (PV) portfolio. It has a manufacturing facility in Tajpur, Sabarkantha, Gujarat, catering to residential, agricultural, and commercial sectors and offering advanced solar technology products. The facility is spread over 25,375 square meters and has a production capacity for 200 MW per annum. The Company also provides comprehensive Engineering, Procurement, and Construction (EPC) services in solar installations. APS has implemented more than 10000 residential rooftop systems and delivered more than 2300 agricultural solar water pumps.;
Parent Organisation
Australian Premium Solar (India) Limited
Founded
2013
Managing Director
Mr. Nikunj Chimanlal Patel

Strengths & Risks

  • Australian Premium Solar functions in the under-tapped renewable energy sector that has been a prominent theme in recent years.
  • The company’s 25375 sq mt factory is fully operational with production capacity of 200 MW per annum.
  • Australian Premium Solar provides a diverse range of products and services, including the manufacturing of Monocrystalline and Polycrystalline Solar Panels and comprehensive EPC services. The company caters to a wide audience including households, businesses and agriculture.
  • The company has shown profitability with a PAT of Rs. 3.33 crores (as of 31 March 2023).
  • Australian Premium Solar is strategically expanding its EPC services, particularly in rooftop solar and solar pump verticals.
  • The company adopts product-wise, client-wise, location-wise and geography-wise approach for selling and marketing its products.
  • Australian Premium Solar (India) Limited and its promoters are involved in a few legal proceedings and claims. Adverse outcomes in these cases could lead to liabilities, penalties, and a negative impact on the company's reputation and financial status.
  • A significant portion of the company's sales relies on a few key customers. Losing any major customer could adversely affect revenues and profitability. In the financial year ending March 31, 2023, the top ten customers contributed 44.65% of total sales, indicating high dependence on a limited client base.
  • The company's operations and revenue are heavily concentrated in the state of Gujarat. Any negative economic or policy changes in this region could severely impact the company's financial health and operations.
  • The company's EPC services for residential rooftops and agricultural solar pumps rely on state and central government subsidies. Reduction or discontinuation of these subsidies could lead to higher project costs for consumers and a consequent reduction in potential customers.
  • The company has previously faced compliance issues with the Companies Act, 2013, and other regulations. Non-compliance and incorrect statutory filings could lead to penalties and impact the company's operations and financial position.
  • The company relies entirely on third-party transportation for the delivery of raw materials and products. The absence of formal contracts with these providers poses a risk to the company's business operations and financial health.
  • The company has availed unsecured loans amounting to Rs. 0.38 crores and those are repayable on demand. This could impact cash flows and financial conditions if lenders suddenly recall these loans.
  • The company's reliance on credit facilities from banks, subject to restrictive covenants, could affect its operational flexibility. Delays in obtaining necessary permissions could impact the company's financial and operational plans.
  • Australian Premium Solar requires numerous approvals, licenses, and permits for its operations. Failure to obtain, renew, or comply with these requirements could delay operations and adversely affect the business.

Financials

*All values are in Rs. Cr
No Graph Data To Display

Application details

Apply asPrice bandApply upto
Regular51 - 54₹2 Lakh
High Networth Individual51 - 54₹2 - 5 Lakh
For Australian Premium Solar IPO, eligible investors can apply as Regular.
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