Rs 6,233 Crore Order Book: Solar Modules & PV Cells Manufacturer Bags Multiple Orders Worth Rs 1087,00,00,000
The supply of these modules is slated to commence from January 2025.
Premier Energies Limited's subsidiaries, Premier Energies Global Environment Private Limited, Premier Energies International Private Limited, and Premier Energies Photovoltaic Private Limited, have secured multiple orders totalling Rs 1,087 crore from two major Independent Power Producers (IPPs) and one domestic customer. This significant order includes Rs 964 crore for Solar Modules and Rs 123 crore for Solar Cells. The supply of these modules is slated to commence from January 2025.
Earlier, Premier Energies secured Rs 765 crore in solar module and cell orders, including a Rs 632 crore order and a Rs 133 crore order, both due by July 2025. They also signed an MSA with BN Hybrid Power-1 to supply 173.35 MWp of advanced Topcon solar modules for a Rajasthan renewable energy project. This highlights Premier Energies' strong position and commitment to innovation in the solar energy market.
Premier Energies Limited is a leading integrated manufacturer of solar cells and modules, with nearly 30 years of experience in the solar industry. Its product portfolio encompasses solar cells, solar modules, monofacial and bifacial modules, EPC solutions and O&M solutions. The company operates five manufacturing facilities, all located on its own land in Hyderabad, India. Together, these facilities have an annual installed capacity of 2 GW for solar cells and 4.13 GW for solar modules.
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According to Quarterly Results, the net sales increased by 121 per cent to Rs 1,553.59 crore and net profit increased by 290 per cent to Rs 205.95 crore in Q2FY25 compared to Q2FY24. In its half-yearly results, the net sales increased by 144 per cent to Rs 3,222.38 crore and net profit increased by 380 per cent to Rs 404.11 crore in H1FY25 compared to H1FY24. In FY24, the company reported net sales of Rs 3,171.31 crore and net profit of Rs 231.36 crore.
As of September 30, 2024, the company had an order book of Rs 6,233 crore. Its key customers across various business segments include NTPC, Tata Power Solar Systems Ltd, Panasonic Life Solutions Pvt Ltd, Shakti Pumps, First Energy, Bluepine Pvt Ltd and Luminous, among others. The company has exported its products to several countries, including the United States, Hong Kong, South Africa, Bangladesh, Norway, Nepal, France, Malaysia, Canada, Sri Lanka, Germany, Hungary, the United Arab Emirates, Uganda, Turkey, South Korea, China, Taiwan and the Philippines.
The company has a market cap of over Rs 49,000 crore. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.