What Australian Premium Solar does

Australian Premium Solar (India) Limited (NSE: APS) is a vertically integrated solar manufacturer and solution provider headquartered in Ahmedabad, Gujarat. Founded in 2013 and listed on the NSE, the company designs, manufactures, and sells monocrystalline PERC, bifacial, and N-type TopCon solar panels (output 260W–605W, efficiency up to 23.20%), grid-tied inverters (1 kW–110 kW, 98.5% efficiency, up to 10-year warranty), and BIS/IEC-certified solar water pumps, supported by an in-house 1.2 GW manufacturing facility in Sabarkantha, Gujarat following a 400 MW TopCon line commissioning in August 2026. Its product portfolio is MNRE-approved, ALMM-listed, BIS/IEC/CE-certified, and covered by up to 30-year performance warranties.

APS operates a hybrid go-to-market combining direct enterprise and government tender sales with a nationwide network of authorized dealers, distributors, and 255+ installation locations concentrated in Gujarat, Rajasthan, Maharashtra, and Karnataka. Revenue is generated primarily through hardware sales (panels, inverters, pumps) supplemented by professional services for utility-scale and rooftop solar projects under government schemes such as PM-KUSUM and PM Surya Ghar Yojana, where subsidy pass-through (up to ₹78,000 per 3 kW+ system) anchors the residential channel. Reported FY26 revenue of ₹708.74 crore grew 60.7% YoY with PAT of ₹57.87 crore, and the customer base spans residential homeowners, commercial and industrial users, agricultural pump buyers (5,500+ installations), and state utilities (e.g., MSEDCL ~₹100 crore and SBPDCL ~₹68 crore orders).

Management is executing a stated expansion into battery energy storage systems (BESS) and captive solar power plants, supported by the June 2026 acquisition of the remaining 49% of Aplus Solar Cell Limited (battery manufacturing) and a publicly stated goal of 20,000 employees by 2030. Founder and CEO Nikunj Patel and Chairman & Executive Director Nikunjkumar Chimanlal Patel lead the company alongside Senior Vice President Samir Patel. India policy tailwinds (PLI scheme, ALMM framework, 500 GW renewable target by 2030) and a ₹5.5 trillion solar pump addressable market underpin the growth strategy.

Name

Australian Premium Solar

Legal name

Australian Premium Solar Private Limited

Website

https://australianpremiumsolar.co.in

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

251–500 employees

Short description

Australian Premium Solar (India) Limited (NSE: APS) is an Ahmedabad-headquartered, vertically integrated solar manufacturer producing TopCon, PERC, and bifacial panels, grid-tied inverters, and solar water pumps at a 1.2 GW Gujarat facility, serving residential, commercial, agricultural, and government customers across India.

Ownership category

akta.pro rank

Product category

Solar PV Manufacturing

NAICS

Solar Electric Power Generation (221114)

SIC

Electric Lighting & Wiring Equipment (3640)

akta.pro primary industry

Solar PV Module Manufacturing (Cells, Modules, Thin-Film) (EUAMABAD)

akta.pro secondary industries

Solar Inverters, Power Electronics & MLPE (String/Central Inverters, Optimizers, Microinverters) (EUAMABAE), PV Balance of System (BOS) & Electrical Infrastructure (Inverters, Transformers, Cabling, Substations) (EUACAGAC), Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)

Keywords

• Solar panel manufacturing
• Grid-tied inverters
• Solar water pumps
• Rooftop solar systems
• Renewable energy solutions

Headquarters

HQ city

Ahmedabad

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Solar PV Module Sales: Sale of solar panels including monocrystalline, bifacial, and TopCon modules to residential, commercial, and industrial customers
2. Solar Inverter Sales: Manufacturing and sale of grid-tied inverters ranging from 1 kW to 110 kW for residential and commercial solar installations
3. Solar Water Pump Sales and Installation: Sale and installation of solar water pumping systems for agricultural applications, including AC and DC ranges in surface and submersible categories
4. Government Project Contracts: Utility-scale solar project development under government schemes like PM Surya Ghar Yojana and PM-KUSUM, including CAPEX and annual revenue generation
5. Captive Power Plant Solutions: Design and implementation of captive solar power plants for industries requiring 4 MW or more of energy, with full ownership retained by the client organization

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Australian Premium Solar manufactures and sells solar PV modules (monocrystalline PERC, bifacial, and N-Type TopCon panels), grid-tied inverters (1 kW to 110 kW), and solar water pumps for agricultural use. The company provides end-to-end solar solutions covering residential rooftop, commercial/industrial, and agricultural irrigation segments, with government project execution under PM-KUSUM and PM Surya Ghar Yojana schemes. Manufacturing is vertically integrated at a 1.2 GW facility in Sabarkantha, Gujarat.

Product overview

Australian Premium Solar (India) Ltd is a NSE-listed solar manufacturer and solution provider offering a comprehensive portfolio of solar products and end-to-end solutions. The core product portfolio includes three main solar panel technologies: Monocrystalline PERC panels (APSAM series), Bifacial dual-glass panels (APSBF series), and N-Type TOPCon panels (APSTM series), along with Grid Tied Inverters (APS-GTI) ranging from 1kW single-phase to 110kW three-phase units, and Solar Water Pumps for agricultural applications. The company provides three service offerings: Residential Solar Solutions, Commercial Solar Solutions, and Agricultural Solar Solutions. Aplus Solar Cell Limited is a wholly owned subsidiary (acquired June 2026) manufacturing batteries. The company is expanding into Battery Energy Storage Systems (BESS) and Captive Power Plants as announced in May 2026. Manufacturing capacity stands at 1.2 GW following a 400 MW TopCon line commissioned in August 2026, with operations supported by the PLI scheme and ALMM listing for government projects.

Differentiator

Problem solved

Functional benefit

Products and services

• Monofacial / Monocrystalline PERC Solar Panels (APSAM Series)
• Bifacial Solar Panels (APSBF Series)
• TopCon Solar Panels (APSTM Series)
• Grid Tied Inverters (APS-GTI)
• Solar Water Pumps
• Residential Solar Solutions
• Commercial Solar Solutions
• Agricultural Solar Solutions

Quantifiable outcome

• Reduces electricity bills by 50-80%
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Aplus Solar Cell LimitedcoreOEM/ Whitelabel/ Licensing Partner · 28 June 2026APS acquired an additional 49% equity stake in Aplus Solar Cell Limited, increasing ownership from 51% to 100%. The transaction valued at ₹99,990 was completed through cash consideration, making Aplus Solar Cell a wholly owned subsidiary. This acquisition provides APS full control over manufacturing capabilities for primary and rechargeable batteries.

Scale indicators8 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Waaree Energies: India's largest vertically integrated solar module manufacturer with multi-GW capacity across PERC and TopCon and a strong government-channel presence — the most directly comparable pure-play solar module manufacturer to APS.
• Vikram Solar: NSE/BSE-listed Indian module manufacturer serving utility-scale, commercial and rooftop segments with PERC and TopCon modules — directly comparable product mix and customer segments to APS.
• Premier Energies: Indian solar cell and module manufacturer expanding TopCon capacity and listing publicly on Indian exchanges — closely comparable in scale, technology focus and ALMM-listed positioning to APS.
• Emmvee Photovoltaic: Bengaluru-based ALMM-listed Indian solar module and cell manufacturer with bifacial and TopCon products serving rooftops and utility-scale projects — directly comparable manufacturing footprint and customer mix.
• Goldi Solar: Indian ALMM-listed module manufacturer with manufacturing capacity in Gujarat and a focus on rooftop, utility and EPC segments — closely comparable scale and customer overlap to APS's Gujarat-rooted franchise.
• RenewSys (REIL): Indian manufacturer of solar PV cells, modules and EVA backsheets, ALMM-listed and vertically integrated — comparable in vertical integration strategy and ALMM positioning to APS.
• Loom Solar: India-focused residential rooftop solar panel and inverter brand with D2C and dealer-led distribution — comparable in channel-led rooftop focus and residential customer emphasis to APS.
• Jakson Group: Indian integrated energy solutions provider with solar EPC, manufacturing and captive power offerings — comparable in combining project execution with solar manufacturing and captive power ambitions to APS.

Broad incumbents

• Adani Solar: Solar manufacturing and project development arm of the Adani Group, a much larger incumbent combining multi-GW cell/module manufacturing with utility-scale project development — directly overlapping but at materially greater scale than APS.

Others

• Tata Power Solar Systems: Tata Group's solar EPC and module manufacturing subsidiary with deep balance sheet, pan-India EPC execution and residential rooftop leadership — overlapping with APS across residential, C&I and EPC, with APS holding no comparable parent-group ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/APS_Ahmedabad
• LinkedInlinkedin.com/company/australian-premium-solar-india-pvt-ltd-

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Australian Premium Solar