Premier Energies Secures Multiple Solar Orders
Shares of Premier Energies soared up to 10% on October 14th, after securing substantial orders in solar module and cell sectors, amounting to Rs 765 crore.
Stocks in News | Shares of Premier Energies Ltd surged up to 10% on October 14th, following the announcement that its subsidiaries, Premier Energies International Pvt Ltd and Premier Energies Photovoltaic Pvt Ltd, have secured multiple substantial orders amounting to Rs 765 crore. These orders include Rs 632 crore for solar modules and Rs 133 crore for solar cells. Deliveries are scheduled to begin in July 2025, catering to eight domestic clients and one international customer.
Earlier in the month, Premier Energies signed a significant Module Supply Agreement (MSA) with BN Hybrid Power-1 Pvt Ltd, a Special Purpose Vehicle (SPV) of BrightNight India. Under this agreement, Premier Energies will supply 173.35 MWp of solar modules featuring Topcon technology for a 300 MW Firm and Dispatchable Renewable Energy (FDRE) storage power project in Barmer, Rajasthan. This agreement further strengthens Premier Energies’ position in the renewable energy sector.
About Premier Energies
Premier Energies is the second-largest solar cell manufacturer and ranks fourth in solar module production in India. It was also the top solar cell exporter to the US in FY24. It operates five manufacturing units in Telangana, with capacities of 2 GW for solar cells and 4.13 GW for solar modules. By 2025, the company plans to add a 1 GW integrated solar cell and module line.
Expanding into the U.S. Market
In addition to its domestic growth, Premier Energies is partnering with Heliene USA to establish a solar cell manufacturing facility in the United States. This joint venture is part of the company’s strategic effort to enhance its supply chain and capitalize on the global demand for solar energy solutions. The company is also exploring solar wafer production to further consolidate its market presence.
Strong Financial Performance
Premier Energies has shown impressive growth, with its operating revenue and EBITDA increasing at a compounded annual growth rate (CAGR) of 106% and 207% respectively, from FY22 to FY24. The firm also reversed a loss of Rs 14.48 crore to a profit of Rs 231.36 crore during this period, benefiting from increased scale and operational efficiencies.
For Q1FY25, Premier Energies reported a net profit of Rs 198.16 crore, a substantial increase from Rs 31.33 crore in the corresponding quarter of the previous year. Its net sales also saw a sharp rise to Rs 1,657.37 crore from Rs 611.02 crore in Q1FY24.
IPO Success
Premier Energies made headlines earlier this year with its successful IPO, which debuted at a remarkable 120% premium over its issue price. The company raised approximately Rs 2,830.40 crore through its IPO, including a fresh issue of Rs 1,291.40 crore and an offer for sale of 3.42 crore shares.
Currently, the stock is trading 156% above its issue price of Rs 450, reflecting strong investor confidence. But the big question remains: Is there more upside for this stock?
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