Shares of Premier Energies surged by 10 percent on October 14 following the announcement that its subsidiaries, Premier Energies International Private Ltd and Premier Energies Photovoltaic Private Ltd, secured orders totaling Rs 765 crore. This includes Rs 632 crore for solar modules and Rs 133 crore for solar cells, with supplies set to begin in July 2025. The company has received orders from eight domestic clients and one international customer.
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On October 8, Premier Energies revealed that it signed a Module Supply Agreement (MSA) with BN Hybrid Power-1 Private Limited, a special purpose vehicle of BrightNight India. Under this agreement, Premier Energies will supply 173.35 MWp of solar modules utilizing Topcon technology for a 300 MW Firm and Dispatchable Renewable Energy (FDRE) storage project in Barmer, Rajasthan, also starting in July 2025.
Premier Energies specializes in manufacturing integrated solar cells and solar panels, with a diverse product range including solar modules, bifacial modules, EPC solutions, and O&M solutions. The company operates five manufacturing facilities located in Hyderabad, Telangana.
Having gone public earlier this year, Premier Energies raised approximately Rs 2,830.40 crore through its initial public offering (IPO), which was open from August 27 to August 29. The IPO comprised a fresh share sale of Rs 1,291.40 crore and an offer for sale of 3.42 crore shares.
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As of 1:13 PM, Premier Energies shares were trading 4.8 percent higher at Rs 1,158.15 on the National Stock Exchange (NSE). Since its listing in September, the stock has gained about 38 percent, significantly outperforming the Nifty index, which has seen around a one percent increase during the same period. The company reported a consolidated net profit of Rs 198.16 crore in Q1 FY25, up from Rs 31.33 crore in Q1 FY24, with net sales climbing to Rs 1,657.37 crore from Rs 611.02 crore in the previous year.
