Premier Energies Posts Strong Q3 as Net Profit Surges Five Times

05 Feb 2025 CW Team

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

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