Premier Energies reported a strong 43.3% YoY revenue jump to Rs 2,632 crore for Q2 FY2027. While net profit rose 30.8% YoY to Rs 462 crore, sequential growth faced pressure with a 2% profit dip. The company maintains a healthy order book of 10,729 MW valued at Rs 16,600 crore, supported by a massive expansion roadmap in solar cells and wafers.
Premier Energies Q2 Profit Rises 31% YoY
Revenue: Rs 2,631.9 Crore | PAT: Rs 462.4 Crore
Reader Takeaway: Strong revenue visibility via a massive 10,729 MW order book, though rising working capital days require monitoring.
What just happened
Premier Energies announced its Q2 FY2027 results showing a robust year-on-year performance. Revenue from operations reached Rs 2,631.9 crore, marking a 43.3% increase compared to Q2 FY2026. The company’s Profit After Tax (PAT) climbed 30.8% to Rs 462.4 crore. However, sequentially, PAT saw a marginal decline of 2.0%, and the EBITDA margin compressed to 28.6% from 33.6% a year ago.
Why this matters
The company’s massive order book of 10,729 MW, valued at Rs 16,600 crore, provides significant long-term revenue visibility. With 99% of orders coming from the domestic market, the company is deeply integrated into India’s solar energy expansion. Investors are focusing on the upcoming 7 GW cell plant and the ambitious 10 GW ingot-wafer facility, which are critical to the company's shift toward backward integration.
The backstory
Premier Energies has been aggressively scaling its manufacturing capabilities. In the reported quarter, the company produced 916 MW of cells and 1,199 MW of modules. Its transformer division, Transcon, is also gaining traction, reaching a capacity of 10.75 GVA and securing its first EHV order.
Risks to watch
Management noted an increase in net working capital days to 113 in H1 FY2027, up from 77 in FY2026, which may tighten cash flows. Additionally, the execution of capital-intensive projects like the BESS facility and the large-scale ingot-wafer plant carries inherent commissioning risks that shareholders should track closely.
What to track next
Watch for updates on the commercial commissioning of the 7 GW cell plant and the stabilization of margin profiles in the upcoming quarters to see if the sequential decline was a one-off event.