Rs 3,011 Crore Orders: This Solar Stock Rises 4% After Strong Q1 FY27 Performance and Rating Upgrade; Check Details

On Thursday, Indian equity benchmark indices traded higher, with the Nifty 50 rising 153.55 points, or 0.64 per cent, to 24,231.85. Amid the market movement, Premier Energies shares were trading at Rs 1,040.00, up Rs 38.00 or 3.79 per cent. The stock's previous close stood at Rs 1,002.00, based on the change reported in the trading data. The movement came after the company announced that CRISIL Ratings has upgraded its long-term credit rating to ‘A+/Positive’ from ‘A/Positive’.

CRISIL Upgrades Long-Term Credit Rating

Premier Energies has received a one-notch upgrade in its long-term credit rating from CRISIL Ratings to A+/Positive from A/Positive. The company's short-term rating remains unchanged at A1. According to the company, the upgrade reflects its strengthening business and financial profile, supported by robust operating performance, disciplined execution and the expansion of its integrated manufacturing capabilities.

Premier Energies Q1 FY27 Revenue Rises 34 per cent YoY

The rating upgrade follows a strong start to FY27. During Q1 FY27, Premier Energies reported total revenue of Rs 2,507.60 crore, representing a 34.1 per cent YoY growth. EBITDA stood at Rs 759.40 crore, increasing 27.2 per cent YoY, while the EBITDA margin stood at 30.3 per cent. Profit after Tax rose 53.3 per cent YoY to Rs 471.90 crore.

During the quarter, the company produced 844 MW of Solar cells, 953 MW of solar modules and 570 MVA of Transformers, highlighting the expansion of its manufacturing operations.

Rs 3,011 Crore Orders Secured in Q1 FY27

Premier Energies secured orders worth Rs 3,011 crore during Q1 FY27, comprising 1,846 MW of solar cells and modules. The deliveries are scheduled across FY27 and FY28, providing visibility for the company's future business. The orders were received from a mix of leading power producers, module manufacturers, EPC companies and other customers.

Management Commentary

Nand Kishore Khandelwal, Group CFO, Premier Energies Limited, said: “The credit rating upgrade reflects the continued strengthening of Premier Energies’ business fundamentals and our disciplined approach to growth. As we expand our integrated manufacturing capabilities, our focus remains on technology leadership, operational excellence and prudent financial management. We remain committed to building a globally competitive clean-energy manufacturing platform in India and contributing to the country’s Make in India and energy security objectives.”

Expansion of Solar Manufacturing Capacity

Premier Energies recently inaugurated its 5.6 GW Seetharampur module manufacturing facility, described by the company as one of India's most advanced module manufacturing plants. The facility is equipped with automation capable of producing four modules every 16 seconds. The company is also progressing on its 7 GW solar cell manufacturing facility at Naidupeta, further expanding its domestic manufacturing capabilities and integrated solar manufacturing footprint.
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About Premier Energies

Premier Energies Limited is a publicly listed integrated solar manufacturer with more than 30 years of solar manufacturing experience. The company manufactures high-efficiency solar cells and modules and is expanding its integrated manufacturing capabilities across the solar value chain. It focuses on technology innovation and sustainability while continuing to expand its manufacturing footprint.

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Disclaimer: The article is for informational purposes only and not investment advice.