Premier Energies Posts Strong Q3 as Net Profit Surges Five Times
05 Feb 2025
2 Min Read
CW Team
Premier Energies, a solar module and cell manufacturer, recorded a total income of Rs 17.49 billion in the third quarter (Q3) of the financial year (FY) 2025, marking a 144.76 per cent year-over-year (Y-o-Y) increase from Rs 7.15 billion.
The company's quarterly earnings before interest, taxes, depreciation, and amortization (EBITDA) surged by 337.76 per cent Y-o-Y to Rs 5.49 billion from Rs 1.26 billion. Net profit for the quarter rose by 490.58 per cent Y-o-Y to Rs 2.55 billion compared to Rs 432.15 million. Earnings per share (EPS) increased to Rs 5.66 from Rs 1.03 in the previous year.
By December 2024, the company had an order book of 4,539 MW valued at Rs 69.46 billion, consisting of 63 per cent module capacity and 36 per cent cell capacity.
Premier Energies operates with a 2 GW solar cell manufacturing capacity, with plans to expand it to 7 GW by Q1 FY27. Additionally, the company aims to increase its 4.1 GW solar module manufacturing capacity to 9.1 GW by Q4 FY26. A 2 GW wafer manufacturing plant is scheduled to begin operations in FY26.
In December 2024, the company announced the establishment of a 1 GW tunnel oxide passivated contact (TOPCon) solar module manufacturing facility at the EMC Maheshwaram industrial zone in Telangana. The project is slated for completion by March 2025. Previously, the company invested Rs 4.83 billion to set up a 1.5 GW facility in Hyderabad for manufacturing advanced monocrystalline passivated emitter and rear cell (MonoPERC) technology cells using larger wafers.
For the first nine months (9M) of FY25, Premier Energies reported a revenue of Rs 49.72 billion, reflecting a 144.58 per cent Y-o-Y increase from Rs 20.33 billion. The 9M EBITDA rose by 329.39 per cent Y-o-Y to Rs 13.26 billion from Rs 3.09 billion, while net profit surged by 417.52 per cent Y-o-Y to Rs 6.59 billion from Rs 1.27 billion in 9M FY24. EPS for the period reached Rs 16.86, up from Rs 5.48 (~$0.063).
The company is reviewing its plans to establish a 1.2 GW solar cell manufacturing facility in the U.S. due to ongoing policy uncertainty in the market. No formal negotiations have been conducted with potential partners regarding this initiative.
In August 2024, Premier Energies launched an initial public offering (IPO) worth ?28.30 billion (~$337.4 million), which received significant interest from investors, with the issue being subscribed over 74 times.
News source: Mercom India
Premier Energies, a solar module and cell manufacturer, recorded a total income of Rs 17.49 billion in the third quarter (Q3) of the financial year (FY) 2025, marking a 144.76 per cent year-over-year (Y-o-Y) increase from Rs 7.15 billion.
The company's quarterly earnings before interest, taxes, depreciation, and amortization (EBITDA) surged by 337.76 per cent Y-o-Y to Rs 5.49 billion from Rs 1.26 billion. Net profit for the quarter rose by 490.58 per cent Y-o-Y to Rs 2.55 billion compared to Rs 432.15 million. Earnings per share (EPS) increased to Rs 5.66 from Rs 1.03 in the previous year.
By December 2024, the company had an order book of 4,539 MW valued at Rs 69.46 billion, consisting of 63 per cent module capacity and 36 per cent cell capacity.
Premier Energies operates with a 2 GW solar cell manufacturing capacity, with plans to expand it to 7 GW by Q1 FY27. Additionally, the company aims to increase its 4.1 GW solar module manufacturing capacity to 9.1 GW by Q4 FY26. A 2 GW wafer manufacturing plant is scheduled to begin operations in FY26.
In December 2024, the company announced the establishment of a 1 GW tunnel oxide passivated contact (TOPCon) solar module manufacturing facility at the EMC Maheshwaram industrial zone in Telangana. The project is slated for completion by March 2025. Previously, the company invested Rs 4.83 billion to set up a 1.5 GW facility in Hyderabad for manufacturing advanced monocrystalline passivated emitter and rear cell (MonoPERC) technology cells using larger wafers.
For the first nine months (9M) of FY25, Premier Energies reported a revenue of Rs 49.72 billion, reflecting a 144.58 per cent Y-o-Y increase from Rs 20.33 billion. The 9M EBITDA rose by 329.39 per cent Y-o-Y to Rs 13.26 billion from Rs 3.09 billion, while net profit surged by 417.52 per cent Y-o-Y to Rs 6.59 billion from Rs 1.27 billion in 9M FY24. EPS for the period reached Rs 16.86, up from Rs 5.48 (~$0.063).
The company is reviewing its plans to establish a 1.2 GW solar cell manufacturing facility in the U.S. due to ongoing policy uncertainty in the market. No formal negotiations have been conducted with potential partners regarding this initiative.
In August 2024, Premier Energies launched an initial public offering (IPO) worth ?28.30 billion (~$337.4 million), which received significant interest from investors, with the issue being subscribed over 74 times.
News source: Mercom India
Next Story
Reliance, Diehl Advance Pact for Precision-Guided Munitions
Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..
Next Story
Modis Navnirman to Migrate to Main Board, Merge Subsidiary
Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..
Next Story
Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025
The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..
