A market leader in solar cell manufacturing saw its stock rise over 3 percent after announcing the relocation of its 4 GW Solar PV TOPCon Cell manufacturing to Andhra Pradesh. This strategic shift aims to enhance efficiency and strengthen its position in the renewable energy sector.
Price Movement
During Tuesday’s trading session, Premier Energies Ltd‘s share price reached an intra-day high of Rs.882.00 per share, rising 3 percent from its previous close of Rs.855.70 per share. However, the stock has declined since then, trading at Rs.873.50 each. 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.
What happened
Premier Energies Limited has announced a strategic shift in its project implementation, focusing on backward integration by co-locating its silicon ingot and wafer manufacturing with its solar PV cell operations.
As part of this initiative, the company is relocating its 4 GW Solar PV TOPCon Cell manufacturing line to a new site in Andhra Pradesh while retaining the existing location for its module production. This move is aimed at optimizing the supply chain, improving operational efficiency, and enhancing cost-effectiveness.
To support this transition, Premier Energies has secured land in a strategically advantageous location, ensuring seamless production and logistics. The project will be financed through unutilized offer proceeds, with no changes in the overall investment except for land acquisition costs.
Order Book
As of December 31, 2024, the company’s total value stood at Rs.6,946 crore, with a total capacity of 4,539 MW. The distribution by value was as follows: EPC contributed 1 percent, solar cell manufacturing accounted for 36 percent, and module production comprised the largest share at 63 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.1,713 crore in Q3 FY25, 140 percent more when compared to Rs.712 crore in Q3 FY24. Net Profits grew significantly to Rs.255 crore, rising exceptionally by 490 percent from Rs.43 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.
Written by – Siddesh S Raskar
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