Premier Energies reports 64% rise in Q4 FY26 profit on strong solar cell demand and expansion push – alcircle

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Premier Energies gain profits from solar cells
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Premier Energies Limited reported strong growth in revenue and profit during the fourth quarter of FY26, supported by higher-margin solar cell sales and increased production utilisation.
The company’s revenue for Q4 FY26 rose 37.6 per cent year-on-year to INR 22.3 billion (USD 232 million). Profit after tax increased 64.45 per cent to INR 4.57 billion (USD 47.5 million) during the quarter.
On a sequential basis, revenue increased 15.17 per cent, while net profit rose 15.34 per cent, indicating continued momentum heading into FY27.
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The company said stronger operating leverage, favourable product mix and silver price hedging supported profitability despite commodity cost pressures. Capacity utilisation during the quarter stood at 84 per cent.
Premier Energies Limited reported an order book of 9,383 MW valued at INR 140.1 billion (USD 1.45 billion) as of March 31, 2026. Management expects more than two-thirds of the current order book to be executed during FY27.
The company plans to expand manufacturing capacity across several business segments. It aims to add 7 GW of solar cell capacity by September 2026 and 10 GW of ingot-wafer capacity by December 2028.
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Additional expansion targets include nearly 6 GWh of battery energy storage system container capacity by March 2027, 10 GVA transformer capacity by July 2026 and 3 GW inverter capacity by December 2026.
The board has approved plans to raise up to INR 50 billion (USD 520 million) through equity, debt or convertible securities to support expansion projects. Total planned capital expenditure for FY27 stands at INR 51 billion (USD 530 million) as part of a broader INR 120 billion (USD 1.25 billion) expansion programme through FY28.
Brokerage firms revised their targets for the stock following the quarterly results. Jefferies maintained a “Buy” rating with a target price of INR 1,135 (USD 11.79), while UBS also retained a “Buy” rating and raised its target to INR 1,340 (USD 13.92).
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Kotak Mahindra Bank maintained a “Sell” rating with a target price of INR 900 (USD 9.35), citing delays in the battery energy storage business and the cancellation of an inverter acquisition.
Analysts said future growth will depend on the execution of expansion projects, the timely delivery of orders and continued policy support for the solar energy sector.
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