Premier Energies Share Price

Premier Energies Secures Massive Rs 765 Crore Solar Orders, Stock Surges 10%

Premier Energies is making waves in the stock market! The company’s shares surged by a remarkable 10% on October 14, 2024, after its subsidiaries bagged substantial orders worth Rs 765 crore. This solar powerhouse is not just growing—it’s skyrocketing, setting new benchmarks in the renewable energy sector.

The big news? Premier Energies International Private Ltd and Premier Energies Photovoltaic Private Ltd—the company’s arms—have secured multiple lucrative contracts, including Rs 632 crore for solar modules and Rs 133 crore for solar cells. The supply for these contracts is slated to begin in July 2025, setting the stage for long-term growth. These orders were placed by eight domestic customers and one international buyer, showcasing Premier’s expanding global reach.

The Module Supply Agreement that’s Driving Growth

Earlier, on October 8, Premier Energies inked a major Module Supply Agreement (MSA) with BN Hybrid Power-1 Private Limited, a Special Purpose Vehicle (SPV) of BrightNight India. As part of this agreement, Premier Energies will supply 173.35 MWp of solar modules featuring the advanced Topcon technology for BN Hybrid Power’s massive 300 MW Firm and Dispatchable Renewable Energy (FDRE) storage project located in Barmer, Rajasthan.

This is a game-changer, positioning Premier Energies at the forefront of India’s energy revolution. The modules for this project will also begin rolling out in July 2025, cementing the company’s role in powering a more sustainable future.

Premier Energies’ Strong Market Performance

Premier Energies is no stranger to success. Shares of the company, which debuted earlier this year, have climbed an impressive 38% since their listing in September, vastly outperforming Nifty’s modest 1% gain during the same period. At 1:13 pm on October 14, Premier Energies’ shares were trading 4.8% higher at Rs 1,158.15 on the National Stock Exchange (NSE).

This stellar performance is backed by robust financials. In Q1 FY25, Premier Energies posted a consolidated net profit of Rs 198.16 crore, a jaw-dropping surge compared to the Rs 31.33 crore net profit in Q1 FY24. Net sales also skyrocketed to Rs 1,657.37 crore, up from Rs 611.02 crore in the same period last year.

IPO Success and Future Outlook

Premier Energies’ journey has been nothing short of extraordinary. The company’s initial public offering (IPO), which opened from August 27 to August 29, raised Rs 2,830.40 crore. This includes a fresh share sale of Rs 1,291.40 crore and an offer for sale of 3.42 crore shares, further fueling the company’s growth ambitions.

With five cutting-edge manufacturing units based in Hyderabad, Telangana, Premier Energies is a leading name in the production of integrated solar cells and panels. Their portfolio spans solar modules, bifacial modules, EPC solutions, and Operations & Maintenance (O&M) services, making them a holistic player in the renewable energy ecosystem.

What’s Next for Premier Energies?

Looking ahead, the orders worth Rs 765 crore and the massive MSA deal signal a bright future for Premier Energies. As the company continues to expand both domestically and internationally, it’s positioning itself as a key player in the global renewable energy market. With the ongoing global push for sustainable energy solutions, Premier Energies is not just riding the wave—it’s leading it.

Conclusion:

Premier Energies is on a remarkable growth trajectory, bolstered by a surge in solar orders and a strong market performance. The company’s success in securing Rs 765 crore worth of solar module and cell contracts showcases its expanding influence in the renewable energy sector. Premier Energies Share Price, As Premier Energies continues to outperform the broader market and grow its global presence, it’s clear that the company is well-positioned to lead the energy revolution in India and beyond.

FAQs:

1.Why did Premier Energies’ stock rise?

A. Premier Energies’ stock surged by 10% after securing Rs 765 crore in solar module and cell orders.

2.What is the total value of the orders Premier Energies secured?

A. Premier Energies secured orders worth Rs 765 crore—Rs 632 crore for solar modules and Rs 133 crore for solar cells.

3.When will the supply for these orders begin?

A. The supply for these solar modules and cells is scheduled to commence in July 2025.

4.What is the Module Supply Agreement (MSA) with BN Hybrid Power?

A. Premier Energies signed an agreement to supply 173.35 MWp of solar modules using Topcon technology for BN Hybrid Power’s FDRE energy project in Barmer, Rajasthan.

5.How much did Premier Energies raise through its IPO?

A. Premier Energies raised Rs 2,830.40 crore through its IPO, which was open from August 27 to August 29.

6.What is Premier Energies’ product portfolio?

A. Premier Energies manufactures solar cells and modules, including bifacial modules, and offers EPC and O&M solutions.

7.How has Premier Energies’ stock performed since its listing?

A. Since its listing in September, Premier Energies’ stock has risen around 38%, outperforming Nifty’s 1% return.

8.What was Premier Energies’ net profit in Q1 FY25?

A. Premier Energies reported a net profit of Rs 198.16 crore in Q1 FY25, compared to Rs 31.33 crore in Q1 FY24.

9.Where are Premier Energies’ manufacturing units located?

A. All five of Premier Energies’ manufacturing units are located in Hyderabad, Telangana.

10.What sectors is Premier Energies involved in?

A. Premier Energies is a key player in solar energy, specializing in the manufacturing of solar cells, modules, and providing energy solutions through EPC and O&M services.