The shares of the second-largest solar module manufacturer gained up to 4.06 percent after the company’s subsidiary bagged multiple orders worth Rs 560 core from 2 large independent power producers (IPP) and others.
Premier Energies Ltd has a market capitalization of Rs 47,727.99 crore, the shares were trading at Rs 1,058.80 per share, decreasing around 1.34 percent as compared to the previous closing price of Rs 1,076.65 apiece.
Reason for Rise:-
According to the company filing, Premier Energies International Private Ltd. & Premier Energies Photovoltaic Private Ltd, the subsidiaries of Premier Energies Limited, have received multiple orders aggregating to Rs 560.00 Crore from 2 large Independent Power Producer (IPP) and others. These orders include Rs 513.00 crore for Solar Modules and Rs 47.00 crore for Solar Cells.
Financial performance:-
Looking into Premier Energies Ltd’s performance, revenue climbed by 171 percent from Rs 611 crore in Q1FY24 to Rs 1,657 crore in Q1FY25. During the same duration, net profit climbed by 538 percent from Rs 31 crore to Rs 198 crore.
It 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.
Prominent client & Footprint:-
The company has stronge clientele including NTPC, TATA Power Solar Systems Limited, Panasonic Life Solutions Private Limited, Continuum, Shakti Pumps, First Energy, Bluepine Energies Private Limited, Luminous, Hartek Solar Private Limited, Green Infra Wind Energy Limited, Madhav Infra Projects Limited, SolarSquare Energy Private Limited and Axitec Energy India Private Limited.
The company has exported its products around the globe includes, 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 Philippines.
Order Book:-
As of July 31, 2024, the company had an order book of Rs 5,926.5 crore This total included Rs 16,09.1crore for non-DCR solar modules, Rs 2,214.0 crore for DCR solar modules, Rs 1,891.1 crore for solar cells, and Rs 2,12.2 crore for EPC projects.
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:-
The company 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.
BlackRock and Other prominent investors:-
The company received a stellar response for its anchor investments from big names like Blackrock, Nomura, Abu Dhabi Investment Authority, DSP India, Morgan Stanley, PNB Paribas, HDFC, ICICI, and many other Indian and global pension/equity funds. National Pension services managed by Blackrock Institutional Trust Company subscribed 3.5 percent of the anchor portion.
Company profile:-
Premier Energies is a manufacturer of solar cells and modules, with its core operations centered around the production of solar photovoltaic (PV) cells, specifically bifacial monocrystalline PERC cells using the M10 wafer size in a 182mm x 182mm format which could be assembled into solar modules.
Written by:- Abhishek Singh
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