Premier Energies logo

Premier Energies

PREMIERENE NSE

Key Fundamentals

MidcapOther Electrical EquipmentCapital Goods
Market Cap
₹39,843 Cr
Volatility
Moderate
P/E Ratio
23.91
EBITDA
₹2,579 Cr
Return on Equity
35.02%
Debt to Equity
0.86
Book Value
₹94.9
52W High
₹1,134
52W Low
₹660

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

3
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 131% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 44.8%

Weaknesses

3
  • Stock is trading at 9.23 times its book value
  • Promoter holding has decreased over last quarter: -5.46%
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
20.65% lower than 3Y
Net Income Growth
61.1% lower than 3Y
Cash Flow Change
-6.45%
ROE
5.45% lower than 3Y
ROCE
-20.18% lower than 3Y
EBITDA Margin (Avg.)
11.64% lower than 3Y

AI Analysis — Bull vs Bear

6d ago
AI opinion · based on fundamentals
Risk high

Premier Energies Ltd has a market capitalisation of about ₹40,529 crore. Over the last five years it has compounded profit at 131% and sales at 62%, and its three-year average ROE is 45%. The stock trades at 24.4x earnings and 9.46x book value. It is down 13% over the past year, promoter holding fell 5.46% last quarter, and growth has slowed from its three-year pace, with TTM sales growth at 27% against a three-year CAGR of 76%.

Bull Case 7
  • Profit has compounded at 131% a year over five years and 365% a year over three years, so earnings have scaled quickly.
  • Returns on equity are high and have held up: 45% on a three-year average, 40% on a five-year average and 41% last year.
  • Sales have compounded at 76% over three years and 62% over five years, which points to rapid capacity additions and demand take-up.
  • TTM profit growth of 59% is more than double TTM sales growth of 27%, which suggests margins are still expanding or operating leverage is kicking in.
  • The P/E of 24.4x is modest next to TTM profit growth of 59% and a five-year profit CAGR of 131%, so the earnings multiple is not stretched relative to recent growth.
  • The stock fell 13% over the past year while profits grew 59% TTM, so the valuation multiple has compressed compared with a year ago.
  • The company is expected to report a good quarter, which may keep near-term earnings momentum going on top of the 59% TTM profit growth.
Bear Case 7
  • The stock trades at 9.46x book value, a large premium that assumes ROE stays near the current 41% level.
  • Promoter holding fell 5.46% in the last quarter, a sizeable one-quarter drop that increases free float and may signal promoter selling.
  • The company may be capitalising interest cost. That would lift reported profit, so the 59% TTM profit growth and 41% ROE could overstate underlying earnings quality.
  • Growth is slowing. TTM sales growth of 27% is well below the three-year CAGR of 76% and the five-year CAGR of 62%.
  • The three-year profit CAGR of 365% likely comes off a low base, so it is not a sustainable run-rate for a company now valued at about ₹40,529 crore.
  • The stock has returned -13% over one year, and there is no three-, five- or ten-year return or ten-year financial history available, which limits any assessment of how the business behaves across a full cycle.
  • The dividend yield of 0.11% gives investors almost no income cushion, so returns depend almost entirely on growth being delivered.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

1d ago
Headwinds 5
  • Ambit maintains Sell, cuts target Sep 24

    Ambit kept its 'Sell' rating and cut the target price to ₹825 from ₹899, implying 10% downside. It also cut FY27-FY29 EBITDA estimates by 3%/5%/6% and PAT estimates by 4%/7%/8%. The stock was down 2.52% at ₹887.

  • Solar cell oversupply arrives early Sep 24

    August 2026 cell production rose 35% to about 2.87GW, which annualises to 34.4GW against an estimated 30GW of FY27 domestic cell demand. India's roughly 230GW of module capacity compares with annual demand of 65-84GW over FY27-FY32.

  • Industry RoIC and pricing compression Sep 24

    Ambit expects solar PV RoIC to fall to 19-21% from more than 40%. Recent DCR module awards came in about 15% below current prices, at ₹18.2-18.6/W, and a domestic cell order was priced at ₹12.5/W.

  • Management flags margin pressure Sep 29

    In an interview, management said it expects market pain in the coming quarters and named margin pressure as a near-term concern.

  • ALMM-II deferral delays cell demand Sep 24

    ALMM-II has been deferred to January 2027, which pushes out part of the C&I domestic cell demand. That ends the tight cell supply that had supported Premier's margins.

Positives 5
  • 7 GW TOPCon cell plant commissioned Sep 21

    The 7 GW N-type TOPCon G12R facility at Naidupeta, AP cost ₹3,293 crore and was delivered on time and within budget. It lifts total cell capacity to 10.6 GW, making Premier India's largest cell maker, and the stock rose to ₹903 from ₹883.

  • Entry into 12 GWh BESS manufacturing Sep 10

    Premier signed a binding term sheet with Germany's RCT Group for a 12 GWh battery storage JV in Telangana, holding an 85% stake against RCT's 15-20%. Phase 1 of 6 GWh is targeted for FY27-28.

  • Strong Q1 FY27 earnings, order book Sep 10

    Q1 FY27 PAT rose 50.45% YoY to ₹463.07 crore and revenue rose 35.25% to ₹2,462.59 crore. The order book of ₹15,000 crore is nearly 2x FY26 revenue of ₹7,824 crore.

  • CRISIL upgrade to A+/Positive Sep 10

    CRISIL upgraded Premier's credit rating to 'A+/Positive' in August 2026, citing improved financial resilience.

  • ₹5,000 Cr fundraise approved at AGM Sep 21

    At the 31st AGM, shareholders approved raising up to ₹5,000 crore and a final dividend of ₹1 per share. The funds can support capex in cells and BESS.

Neutral 3
  • Singapore trading subsidiary incorporated Sep 23

    Premier incorporated a wholly owned subsidiary, PE Horizon Pte. Ltd., in Singapore on September 23, 2026, for clean energy trading and consulting.

  • ₹17.44 Cr block trade on BSE Sep 30

    About 198,644 shares changed hands at ₹878 each on BSE. The buyer and seller have not been disclosed.

  • Morgan Stanley investor seminar Sep 9

    Management took part in Morgan Stanley's virtual India Industrials & Energy Seminar on September 16, 2026.

TL;DR: Premier Energies is executing well: it delivered its 7 GW cell plant on time to reach 10.6 GW, grew Q1 FY27 PAT by 50%, holds a ₹15,000 crore order book, and is diversifying into BESS. The main risk is cell oversupply arriving earlier than expected, along with ALMM-II deferral and falling DCR pricing, which led Ambit to cut its target to ₹825 and pushed management to warn of margin pressure. The stock has fallen from ₹965 on Sep 11 to about ₹878 by Sep 30, so sentiment is weakening even though the operating story is strong. Near-term earnings will depend on how fast the new 7 GW capacity ramps up and how far cell spreads fall in H2 FY27.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
611
694
712
1,127
1,657
1,527
1,713
1,621
1,821
1,837
1,936
2,230
2,463
Expenses
540
595
589
942
1,299
1,147
1,200
1,092
1,272
1,276
1,343
1,555
1,748
Operating Profit
71
99
123
184
358
381
514
528
548
561
593
675
714
OPM %
12%
14%
17%
16%
22%
25%
30%
33%
30%
31%
31%
30%
29%
Other Income
6
8
2
12
12
26
36
59
49
84
30
44
46
Interest
18
21
37
45
45
42
47
43
37
32
47
41
44
Depreciation
15
16
28
37
79
90
152
177
158
146
70
79
96
PBT
44
71
61
115
246
275
351
368
403
467
505
598
620
Tax %
28%
25%
29%
9%
19%
25%
27%
25%
24%
24%
22%
24%
24%
Net Profit
31
53
43
104
198
206
255
278
308
353
392
457
472
EPS in Rs
1.19
2.01
1.64
3.95
5.93
4.57
5.66
6.16
6.83
7.8
8.65
10.08
10.2
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
947
701
743
1,429
3,144
6,519
7,824
8,466
Expenses
853
648
713
1,350
2,666
4,738
5,447
5,923
Operating Profit
94
54
30
78
478
1,781
2,378
2,543
OPM %
10%
8%
4%
5%
15%
27%
30%
30%
Other Income
19
35
25
36
29
134
206
203
Interest
35
22
43
69
121
177
158
165
Depreciation
17
12
28
53
96
498
452
391
PBT
61
56
-16
-8
289
1,240
1,973
2,191
Tax %
26%
54%
-8%
72%
20%
24%
23%
—
Net Profit
45
26
-14
-13
231
937
1,510
1,674
EPS in Rs
1.5
0.94
-0.55
-0.49
8.78
20.79
33.33
36.73
Div. Payout %
0%
0%
0%
0%
0%
5%
3%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
25
25
26
26
26
45
45
Reserves
206
197
368
385
620
2,777
4,262
Borrowings
256
347
455
765
1,401
1,954
3,707
Other Liabilities
342
406
491
934
1,489
2,065
2,825
Total Liabilities
828
975
1,340
2,110
3,537
6,841
10,840
Fixed Assets
263
425
479
592
1,203
978
1,747
CWIP
21
0
114
349
20
242
2,144
Investments
6
9
55
59
9
845
670
Other Assets
538
541
693
1,110
2,305
4,775
6,280
Total Assets
828
975
1,340
2,110
3,537
6,841
10,840
Figures in ₹ Crores

Cash Flow

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-66
237
5
37
90
1,348
1,261
Investing
-56
-353
-218
-304
-447
-2,410
-2,156
Financing
134
109
279
252
549
1,608
1,559
Net Cash Flow
13
-7
66
-16
192
546
664
Free Cash Flow
-90
-83
-178
-237
-359
728
-1,736
CFO/OP
-50
467
57
60
24
98
70
Figures in ₹ Crores

Ratios

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
74
84
71
15
71
45
46
Inventory Days
56
44
135
197
157
121
159
Days Payable
76
114
168
124
152
88
90
Cash Conversion Cycle
55
14
38
88
76
78
115
Working Capital Days
52
-24
-28
-58
-12
-22
8
ROCE %
—
13%
4%
6%
25%
41%
33%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Public4.94%Promot.58.49%FIIs7.92%Others10.68%DIIs17.97%As ofJun 2026

Documents

Frequently Asked Questions about Premier Energies

What does Premier Energies Ltd do?
Incorporated in April 1995, Premier Energies Limited specializes in manufacturing integrated solar cells and solar panels. Its product portfolio includes solar cells, solar modules, monofacial and bifacial modules, as well as EPC and O&M solutions.[1]
Where is Premier Energies Ltd (PREMIERENE) listed?
Premier Energies Ltd trades as PREMIERENE on the NSE and under code 544238 on the BSE.
Which sector does Premier Energies Ltd belong to?
Premier Energies Ltd is classified under the Capital Goods sector, in the Other Electrical Equipment industry.
What is the market capitalisation of Premier Energies Ltd?
Premier Energies Ltd has a market capitalisation of ₹39,843 Cr, which places it in the Large Cap band.
What is the PE ratio of Premier Energies Ltd?
Premier Energies Ltd trades at a PE ratio of 23.91, against a book value of ₹94.9 per share.
What is the 52-week high and low of Premier Energies Ltd?
Over the last 52 weeks Premier Energies Ltd has traded between ₹660 and ₹1,134.
Does Premier Energies Ltd pay dividends?
Premier Energies Ltd has a dividend yield of 0.11%.
What is the Return on Equity (ROE) of Premier Energies Ltd?
Premier Energies Ltd reported a return on equity of 35.02%. Its debt-to-equity ratio is 0.86.

Company Information

Incorporated in April 1995, Premier Energies Limited specializes in manufacturing integrated solar cells and solar panels. Its product portfolio includes solar cells, solar modules, monofacial and bifacial modules, as well as EPC and O&M solutions.[1]

Website premierenergies.com
Listed 2024-09-03
Face Value ₹ 1
Issued Size 45,29,94,368

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