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
HCL-Foxconn to invest Rs 37 billion in chip plant near Jewar airport
The Union Cabinet has approved the establishment of a new semiconductor unit near Jewar airport in Uttar Pradesh under the India Semiconductor Mission. This sixth plant, a joint venture between HCL and Foxconn, marks further progress in India鈥檚 semiconductor journey. The project will see an investment of Rs 37 billion.The facility will produce display driver chips for mobile phones, laptops, automobiles, PCs, and other digital devices. It is designed for a monthly capacity of 20,000 wafers and an output of 36 million units.Five semiconductor units are already in advanced stages of constructi..
Next Story
Brigade acquires Velachery land for Rs 16-billion project
Brigade Enterprises has acquired a 5.41-acre land parcel on Velachery Road, Chennai, through an outright purchase for Rs 4.417 billion. Located next to Phoenix Market City, the site will be developed into a premium residential project with a gross development value of approximately Rs 16 billion and a development potential of 0.8 million square feet.The project offers strategic access to both the OMR IT Corridor and Chennai鈥檚 Central Business District, promising strong connectivity and premium lifestyle offerings. Brigade plans to create signature residences focused on aesthetics, functional..
Next Story
Liebherr marks 10,000th XPower wheel loader milestone
Liebherr-Werk Bischofshofen has rolled out its 10,000th XPower wheel loader, marking a major production milestone. The anniversary L 580 XPower model, featuring a power-split travel drive developed with ZF Friedrichshafen AG, was handed over to the BERGER Group in Passau.鈥淭he transmission from our partner ZF is a key component of the drivetrain in our XPower wheel loaders,鈥� said Gerhard Pirnbacher, Head of Quality Management at Liebherr. 鈥淲ith an impressive total of around 64 million operating hours already clocked up by XPower models, this transmission has proven its exceptional robustn..
