Shares of this newly listed company, which manufactures integrated Solar cells and modules, jumped approximately 10 percent to Rs.1,216.80 per share following the announcement of multiple orders for the supply of Solar PV cells and modules, totaling Rs.765 crores.
Price Movement
In Monday’s trading session, Premier Energies Ltd share price hit an intraday high of Rs.1,216.80 per share, up 10 percent from the previous close of Rs.1,107.40 per share. The company debuted on the BSE and NSE on September 3, 2024, listing at Rs.990 per share, which was a notable 120 percent premium over its IPO issue price of Rs.450 apiece.
Contract Specifications
Premier Energies Ltd has secured multiple orders from 8 domestic customers and 1 international customer for the supply of solar PV cells and modules.
These one-time contracts include orders awarded by both domestic and international entities, with a total value of Rs.765 crores, comprising Rs.632 crores for solar PV modules and Rs.133 crores for solar PV cells. The supply is scheduled to commence in July 2025.
As of October 2024, the company has a total order book of Rs.6906.6 crore, of which nearly 22 percent are from the public sector undertakings and government entities, while the rest are from private players.
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Installed Capacity
Premier Energies Limited is the second largest solar cell manufacturer in India with an annual installed capacity of 2 GW and a 25 percent market share and it is the 4th largest manufacturer of solar models with an annual installed capacity of 4.13 GW out of India’s 72 GW Capacity and 6 percent market share.
Capex Plans
Premier Energies has an installed capacity of 2GW Solar cell manufacturing facility with work going on for setting up a 1GW along with goals of expanding it to 7 GW and a 4 GW Solar Module manufacturing facility with goals to expand it to 8 GW with a capex plan of Rs.3,400 Crores by part financing it with the IPO proceeds and funding from other sources.
Revenue Segments
Company generated 64.32 percent of its revenue from the sale of solar modules, 22.48 percent from the sale of solar cells, 4.3 percent from EPC Projects, and 8.21 percent from the sale of traded goods. Revenue share from the domestic market is 86.01 percent and exports were 13.99 percent.
Presence and Client base
It has a global presence with its products being exported to countries like the United States, Hong Kong, South Africa, Bangladesh, Norway, Nepal, France, Malaysia, Canada, Sri Lanka, Germany, Hungary, the United Arab Emirates, Uganda, Turkey, South Korea, China, Taiwan, and the Philippines.
It has a strong clientele base with well-known players NTPC, TATA Power Solar Systems Limited, Panasonic Life Solutions Private Limited, Shakti Pumps, Luminous, Continuum, First Energy, Bluepine Energies Private Limited, Green Infra Wind Energy Limited, Madhav Infra Projects Limited, SolarSquare Energy Private Limited and many others.
Financial Performance
According to its recent financial updates, the company reported Revenue from operations of Rs.3,144 crore in FY24, 120 percent more when compared to Rs.1,429 crore in FY23. Net Profits grew significantly to Rs.231 crore from a net loss of Rs.13 crore in the same period.
Company Profile
Premier Energies Limited is an integrated player in the solar ecosystem engaged in manufacturing and supplying integrated solar cells and solar panels. The company’s product portfolio includes Cell, Solar Module, Monofacial and Bifacial, modules, EPC Solutions, and O&M Solutions.
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Written by – Siddesh S Raskar
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