NSE: PREMIERENE · BSE: 544238
PREMIER ENERGIES LIMITED
Manufactures solar photovoltaic cells and modules for power producers, module manufacturers and EPC companies. Operates a 5.6 GW TOPCon module plant at Seetharampur, Telangana, which brings total module capacity to 11.1 GW, alongside a TOPCon cell line running at 90%+ utilisation and targeting 25.5% cell efficiency. Holds an order book of INR 14,010 crores spanning solar cells and modules, and secured INR 3,011 crores of new orders in Q1 FY27 covering 1,846 MW. Acquired a 51% stake in Transcon, an HV/EHV transformer manufacturer that reported FY26 revenue of INR 423 crores and PAT of INR 45 crores. Has incorporated a wholly owned subsidiary (Premier Battery Technologies) for battery energy storage systems and is building a 6 GWh BESS facility plus an 18,000 MT per annum aluminium frames facility on the same Seetharampur campus. Total capacity is targeted to reach 16.75 GVA by July 2026 with FY27 capex of INR 5,100 crores. Materials are the biggest input cost at 54.4% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Solar PV cells and modules, HV/EHV transformers, Battery energy storage systems. Capital-intensive solar PV cell and module manufacturer in heavy capacity expansion phase
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 6,519 | 7,824 |
| EBITDA (ex other income) | 1,781 | 2,377 |
| margin % | 27.3 | 30.4 |
| Owners' profit | 935 | 1,510 |
| EPS, as reported (₹) | 21.35 | 33.63 |
| ROE % · ROCE % | 33.2 · 34.9 | 35.0 · 27.8 |
| Debt / equity (x) | 0.67 | 0.84 |
| Cash from operations | 1,348 | 1,261 |
| Capex | (620) | (2,998) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,527 | 1,713 | 1,621 | 1,821 | 1,837 | 1,936 | 2,230 | 2,463 |
| Profit before tax | 275 | 351 | 368 | 403 | 467 | 505 | 593 | 620 |
| Net profit | 206 | 255 | 278 | 308 | 353 | 392 | 457 | 472 |
| EPS (₹) | 5.71 | 5.66 | 6.16 | 6.83 | 7.89 | 8.72 | 10.14 | 10.45 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WAAREE ENERGIES LIMITED | 65,440 | 17.1 | 4.36 | 10.6 | 25.9 | 29.0 | — | 20.3 |
| APAR INDUSTRIES LTD. | 60,809 | 51.5 | 11.27 | 32.0 | 18.1 | 21.9 | 29.1 | 12.0 |
| PREMIER ENERGIES LIMITED ◆ | 39,130 | 23.2 | 9.08 | 16.0 | 35.0 | 25.7 | — | 30.8 |
| MTAR TECHNOLOGIES LIMITED | 20,676 | 154.9 | 25.14 | 110.5 | 11.4 | 12.4 | 28.9 | 25.8 |
| DIAMOND POWER INFRA LTD | 17,654 | 89.8 | — | 87.0 | (26.2) | 8.6 | — | 12.3 |
| EMMVEE PHOTOVOLTAIC PWR L | 16,571 | 12.4 | 4.48 | 9.2 | 29.3 | 31.2 | — | 36.3 |
| AVALON TECHNOLOGIES LTD | 14,460 | 108.1 | 20.04 | 72.0 | 15.6 | 20.0 | — | 12.5 |
| GENUS POWER INFRASTRU LTD | 8,156 | 11.4 | 3.68 | 10.4 | 26.7 | 22.7 | 50.8 | 22.1 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 23.2 | 22.6 | 27 of 52 | 49% |
| P/B | 9.1 | 3.3 | 44 of 49 | 10% |
| ROCE | 25.8 | 12.4 | 10 of 55 | 83% |
| ROE | 35.0 | 12.4 | 7 of 50 | 88% |
| Debt / Equity | 0.8 | 0.3 | 38 of 50 | 25% |
| EBITDA margin | 30.8 | 12.6 | 9 of 51 | 84% |
| Revenue growth | 35.3 | 20.7 | 19 of 46 | 60% |
| Profit growth | 53.3 | 37.7 | 19 of 45 | 59% |
| Market cap | 39130 | 576 | 3 of 56 | 96% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board meeting for September quarter results and interim dividend | results | low | — | — |
| 15 Oct 2026 · Premier Energies formalises JV with Germany's RCT Group for 12 GWh BESS plant | strategic transactions | high | — | — |
| 9 Oct 2026 · Premier Energies Bags Rs 4,001 Crore Orders in Q2 FY27 | business updates | high | — | — |
| 5 Oct 2026 · Routine compliance filing: RTA certificate for Q2 FY27 under SEBI Reg 74(5) | compliance | minimal | — | — |
| 28 Sept 2026 · Trading Window Closure for Q2 FY27 Results | compliance | minimal | — | — |
| 23 Sept 2026 · Premier Energies incorporates wholly owned subsidiary in Singapore | strategic transactions | medium | — | — |
| 22 Sept 2026 · Premier Energies AGM 2026: 8 resolutions passed, 5000 Cr capital raise approved | board shareholder meetings | medium | — | — |
| 21 Sept 2026 · Chairman highlights 61% PAT growth, outlines ingot-wafer and battery storage expansion at AGM | investor communications | medium | — | — |
| 21 Sept 2026 · Premier Energies holds 31st AGM; proposes Rs 5,000 Cr fundraise | board shareholder meetings | low | — | — |
| 21 Sept 2026 · Premier Energies commissions 7 GW solar cell facility, total capacity 10.6 GW | capex operations | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.