Rs 5,926.57 crore order book: 4 days ago listed solar pump manufacturer bags new order worth Rs 215 crore from Uttar Pradesh Department of Agriculture
The company has a market cap of over Rs 49,000 crore and saw a spurt in volume by more than 2 times on BSE.
Premier Energies Limited has secured a significant contract from the Uttar Pradesh Department of Agriculture to provide, install, and commission 8,085 solar water pumping systems across the state under the PM-KUSUM scheme. This domestic project, valued at Rs 215 crore, is expected to be completed by March 2025. The initiative aligns with India's goal of achieving 40 per cent of its installed electric power capacity from non-fossil fuel sources by 2030, as outlined in its Intended Nationally Determined Contributions (INDCs).
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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As of July 31, 2024, the company had an order book of Rs 5,926.57 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.
On Friday, shares of Premier Energies Limited gained 18.15 per cent to Rs 1,190 per share from its previous 1,007.20 per share. The stock also made a new 52-week high of Rs 1,190 per share while its 52-week low is Rs 801. 60 per share.The company has a market cap of over Rs 49,000 crore and saw a spurt in volume by more than 2 times on BSE. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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