Incorporated in April 1995, Premier Energies Limited specializes in manufacturing integrated solar cells and solar panels. Its product portfolio includes solar cells, solar modules, monofacial and bifacial modules, as well as EPC and O&M solutions.[1]
Business Profile[1]Premier Energies is a leading integrated solar PV manufacturer in India, specializing in solar cells and modules. It holds nearly100% share in India’s solar cell exportsand ranks among the country’s largest integrated cell-module producers. Notably, it was the first Indian company to manufacture TOPCon cells.
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Waaree Energies | 2714.30 | 28.89 | 78074.37 | 0.07 | 878.21 | 132.97 | 6065.64 | 69.70 | 34.94 | 17952.69 | 22.55 | 2702.29 | 842.55 | 6.80 | 12.40 | 0.26 |
| 2. | Premier Energies | 787.75 | 201.22 | 35684.63 | 0.13 | 55.11 | 244.87 | 192.63 | -10.84 | 12.37 | 813.14 | 14.33 | 177.34 | 55.11 | 19.13 | 7.30 | 0.01 |
| 3. | Apar Inds. | 8172.50 | 34.94 | 32827.56 | 0.62 | 251.70 | 29.82 | 5715.42 | 23.06 | 32.70 | 20745.76 | 8.33 | 939.50 | 251.70 | 6.77 | 7.83 | 0.14 |
| 4. | Emmvee Photovol. | 184.91 | 22.39 | 12802.15 | 0.00 | 237.86 | 577.28 | 1131.00 | 181.06 | 28.01 | 2335.61 | 30.91 | 368.94 | 237.86 | – | 12.12 | 2.15 |
| 5. | Waaree Renewab. | 953.80 | 28.18 | 9952.50 | 0.10 | 116.35 | 117.22 | 774.78 | 47.73 | 82.31 | 2214.90 | 21.39 | 353.17 | 116.30 | 15.11 | 25.06 | 0.12 |
| 6. | Genus Power | 295.25 | 19.00 | 8982.03 | 0.83 | 148.15 | 162.44 | 1149.00 | 135.99 | 19.21 | 3632.39 | 21.18 | 472.85 | 148.15 | 4.79 | 8.43 | 0.93 |
| 7. | Vikram Solar | 239.71 | 33.28 | 8685.42 | 0.00 | 128.49 | 1645.79 | 1109.91 | 93.72 | 26.45 | 3423.45 | 14.37 | 139.83 | 128.49 | 2.94 | 5.16 | 0.09 |
| – | Median: 58 Co. | 207.35 | 29.67 | 666.74 | 0.0 | 9.61 | 52.08 | 117.8 | 25.18 | 19.85 | 378.67 | 13.38 | 25.55 | 9.7 | 4.36 | 8.27 | 0.36 |
Standalone figures in ₹ crores
| Dec 2023 | Dec 2024 | Jun 2024 | Jun 2025 | Mar 2024 | Mar 2025 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|
Sales | 226 | 295 | 339 | 187 | 256 | 139 | 378 | 216 | 193 |
Expenses | 226 | 264 | 342 | 162 | 250 | 112 | 374 | 198 | 159 |
Operating Profit | 0 | 30 | -3 | 25 | 6 | 27 | 4 | 18 | 34 |
Other Income | 8 | 19 | 4 | 8 | 5 | 53 | 3 | 13 | 39 |
Profit before tax | 2 | 48 | -8 | 32 | 4 | 78 | 0 | 21 | 71 |
Tax % | 29% | 25% | -27% | 26% | 18% | 20% | 25% | 26% | 22% |
Net Profit | 2 | 36 | -6 | 23 | 4 | 63 | 0 | 16 | 55 |
EPS in Rs | 0.06 | 0.80 | -0.17 | 0.52 | 0.13 | 1.39 | 0.00 | 0.35 | 1.22 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
Sales | 643 | 685 | 748 | 721 | 1,050 | 989 | 813 |
Expenses | 594 | 619 | 730 | 712 | 1,039 | 917 | 697 |
Operating Profit | 50 | 66 | 18 | 9 | 11 | 72 | 117 |
Other Income | 13 | 18 | 34 | 33 | 24 | 89 | 120 |
Interest | 15 | 15 | 15 | 16 | 15 | 5 | 3 |
Depreciation | 11 | 10 | 8 | 8 | 12 | 17 | 4 |
Profit before tax | 37 | 59 | 28 | 18 | 9 | 140 | 229 |
Net Profit | 28 | 43 | 18 | 14 | 7 | 109 | 177 |
EPS in Rs | 1.12 | 1.72 | 0.67 | 0.52 | 0.27 | 2.42 | 3.93 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 21% | – |
Standalone figures in ₹ crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
Equity Capital | 25 | 25 | 26 | 26 | 26 | 45 | 45 |
Reserves | 165 | 210 | 413 | 428 | 440 | 1,770 | 1,820 |
Borrowings | 59 | 72 | 33 | 78 | 31 | 8 | 18 |
Other Liabilities | 269 | 333 | 306 | 247 | 344 | 301 | 312 |
Total Liabilities | 518 | 639 | 778 | 779 | 841 | 2,124 | 2,195 |
Fixed Assets | 100 | 97 | 97 | 88 | 85 | 68 | 79 |
Gross Block | 130.07 | 134.04 | 140.31 | 139.04 | 131.91 | 79.72 | – |
Accumulated Depreciation | 30.13 | 36.69 | 43.53 | 50.78 | 47.14 | 11.58 | – |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 52 | 95 | 228 | 307 | 345 | 1,378 | 1,605 |
Other Assets | 366 | 447 | 454 | 384 | 411 | 678 | 512 |
Total Assets | 518 | 639 | 778 | 779 | 841 | 2,124 | 2,195 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
Cash from Operating Activity | 25 | 74 | 52 | -8 | 114 | 50 |
Cash from Investing Activity | -36 | -74 | -136 | -52 | -17 | -1,082 |
Cash from Financing Activity | 8 | 4 | 136 | 8 | -66 | 1,205 |
Net Cash Flow | -3 | 4 | 52 | -52 | 32 | 173 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
Debtor Days | 78 | 88 | 64 | 65 | 39 | 61 |
Inventory Days | 79 | 76 | 61 | 64 | 41 | 13 |
Days Payable | 96 | 112 | 115 | 104 | 115 | 104 |
Cash Conversion Cycle | 60 | 52 | 11 | 25 | -35 | -30 |
Working Capital Days | 41 | 21 | 9 | 13 | -19 | -0 |
ROCE % | – | 25% | 11% | 7% | 5% | 12% |
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Stock Analysis
Premier Energies Limited is a leading integrated solar photovoltaic (PV) manufacturer in India, specializing in solar cells and modules. It holds a significant share in India’s solar cell exports and ranks among the country’s largest integrated cell-module producers, notably being the first Indian company to manufacture TOPCon cells.
Premier Energies Limited announced securing orders worth ₹2,307.30 crore in Q3 FY26, with execution scheduled for FY27 and FY28.
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