Premier Energies Subsidiaries secured orders totalling Rs 560 crore

Premier Energies is a manufacturing company that specializes in producing solar cells and solar modules. It was founded in 1995. The Washington, DC-based private equity firm GEF Capital supports Premier Energies, which is at the forefront of cutting-edge technology and creating photovoltaic products and solutions. The state-of-the-art manufacturing facilities of Premier Energies span three distinct locations in Telangana, with a combined land area exceeding 44.91 acres. The company will have the ability to produce 2 GW of solar cells and 3.36 GW of solar modules annually as of March 31, 2024. Further development is presently underway for a second Topcon Cell line and module line, totalling 75 acres of land. It is anticipated that these new facilities will include cell and module facilities.

The company received projects worth Rs. 560 crore

The business has revealed that two significant domestic Independent Power Producers (IPPs) and other parties have recently placed multiple orders totalling Rs 560.00 crore with its subsidiaries, Premier Energies International Private Ltd. and Premier Energies Photovoltaic Private Ltd. Deliveries are expected to begin in December 2024, and these orders include Rs 513.00 crore for solar modules and Rs 47.00 crore for solar cells.

Company finances

The company’s quarterly results show that Premier Energies Ltd.’s revenue climbed from Rs 611 crore in June 2024 to Rs 1657 crore, an approximate 171% year-over-year increase. In contrast to Rs 71 crore with a margin of 12%, the operating profit for the period was Rs 358 crore with a margin of 22%. Compared to the profit of Rs 31 crore the year before, the net profit of Rs 198 crore was about 538 per cent higher. In terms of yearly performance, the company made Rs 3144 crore in FY24 as opposed to Rs 1429 crore in FY23. In FY24, the operating profit was Rs 478 crore, with a net profit of Rs 231 crore as opposed to a Rs 13 crore loss.

Today, Premier Energies Ltd.’s stock is slightly higher

The stock of Premier Energies Ltd. is currently trading at Rs. 1,079.85 per share, which is a slight increase from the high price of Rs. 1,119.65 per share earlier today. At the end of the day, we can observe the positive move.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.