Premier Energies Ltd
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]
- Market Cap ₹ 32,996 Cr.
- Current Price ₹ 728
- High / Low ₹ 1,212 / 709
- Stock P/E 186
- Book Value ₹ 41.2
- Dividend Yield 0.14 %
- ROCE 12.4 %
- ROE 9.49 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 31.3% CAGR over last 5 years
Cons
- Stock is trading at 17.7 times its book value
- The company has delivered a poor sales growth of 8.99% over past five years.
- Company has a low return on equity of 6.25% over last 3 years.
- Earnings include an other income of Rs.120 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 643 | 685 | 748 | 721 | 1,050 | 989 | 813 | |
| 594 | 619 | 730 | 712 | 1,039 | 917 | 697 | |
| Operating Profit | 50 | 66 | 18 | 9 | 11 | 72 | 117 |
| OPM % | 8% | 10% | 2% | 1% | 1% | 7% | 14% |
| 13 | 18 | 34 | 33 | 24 | 89 | 120 | |
| Interest | 15 | 15 | 15 | 16 | 15 | 5 | 3 |
| Depreciation | 11 | 10 | 8 | 8 | 12 | 17 | 4 |
| Profit before tax | 37 | 59 | 28 | 18 | 9 | 140 | 229 |
| Tax % | 25% | 27% | 37% | 22% | 23% | 22% | |
| 28 | 43 | 18 | 14 | 7 | 109 | 177 | |
| EPS in Rs | 1.12 | 1.72 | 0.67 | 0.52 | 0.27 | 2.42 | 3.93 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 21% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 9% |
| 3 Years: | 10% |
| TTM: | -22% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 31% |
| 3 Years: | 86% |
| TTM: | 1044% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -38% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 7% |
| 3 Years: | 6% |
| Last Year: | 9% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 25 | 25 | 26 | 26 | 26 | 45 | 45 |
| Reserves | 165 | 210 | 413 | 428 | 440 | 1,770 | 1,820 |
| 59 | 72 | 33 | 78 | 31 | 8 | 18 | |
| 269 | 333 | 306 | 247 | 344 | 301 | 312 | |
| Total Liabilities | 518 | 639 | 778 | 779 | 841 | 2,124 | 2,195 |
| 100 | 97 | 97 | 88 | 85 | 68 | 79 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 52 | 95 | 228 | 307 | 345 | 1,378 | 1,605 |
| 366 | 447 | 454 | 384 | 411 | 678 | 512 | |
| Total Assets | 518 | 639 | 778 | 779 | 841 | 2,124 | 2,195 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 25 | 74 | 52 | -8 | 114 | 50 | |
| -36 | -74 | -136 | -52 | -17 | -1,082 | |
| 8 | 4 | 136 | 8 | -66 | 1,205 | |
| Net Cash Flow | -3 | 4 | 52 | -52 | 32 | 173 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 78 | 88 | 64 | 65 | 39 | 61 |
| Inventory Days | 79 | 76 | 61 | 64 | 41 | 13 |
| Days Payable | 96 | 112 | 115 | 104 | 115 | 104 |
| Cash Conversion Cycle | 60 | 52 | 11 | 25 | -35 | -30 |
| Working Capital Days | 41 | 21 | 9 | 13 | -19 | -0 |
| ROCE % | 25% | 11% | 7% | 5% | 12% |
Documents
Announcements
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Rumour verification - Regulation 30(11)
12 Jan - Clarifies 7.4GW cell, 6GW module addition and ₹11,000 crore capex already disclosed; target 10.6GW/11.1GW by Sept 2026.
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Clarification sought from Premier Energies Ltd
12 Jan - Exchange has sought clarification from Premier Energies Ltd on January 12, 2026, with reference to news appeared in https://www.ndtvprofit.com dated January 12, 2026 quoting "Premier …
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Board Meeting Intimation for Consider And Approve The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Nine Months Ended December 31, 2025.
8 Jan - Board meeting on 22 Jan 2026 to approve Q3/9M Dec 31, 2025 unaudited results; trading window closed.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 8 Jan
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
31 Dec - Premier Energies secures ₹2,307.30 crore orders in Q3 FY26; execution in FY27–FY28.
Concalls
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Nov 2025Transcript PPT REC
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Jul 2025TranscriptPPTREC
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Jul 2025TranscriptAI SummaryPPT REC
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT
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Feb 2025TranscriptAI SummaryPPT REC
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Nov 2024Transcript PPT
Business Profile[1]
Premier Energies is a leading integrated solar PV manufacturer in India, specializing in solar cells and modules. It holds nearly 100% share in India’s solar cell exports and ranks among the country’s largest integrated cell-module producers. Notably, it was the first Indian company to manufacture TOPCon cells.