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Informist, Thursday, Aug. 6, 2026

By Ashutosh Pati

MUMBAI – Premier Energies Ltd. is gearing up for another set of good numbers for the June quarter, supported by an expansion of solar module capacity and a rise in solar cell production, according to analysts. However, the company's margins are likely to be under pressure due to a rise in prices of commodities such as silver.

The solar equipment manufacturer's consolidated net profit for the June quarter is seen rising nearly 49% on year to INR 4.58 billion, according to the average of estimates from eight brokerages. The highest estimate for the company's bottom line is INR 6.21 billion from Anand Rathi Share and Stock Brokers Ltd. and the lowest is INR 3.78 billion from Prabhudas Lilladher Pvt. Ltd.

The company's revenue from operations is expected to rise around 37% on year to INR 24.93 billion, as per the estimates. The projections for the company's revenues range from a high of INR 32.64 billion from Anand Rathi to a low of INR 21.54 billion from JM Financial Institutional Securities Pvt. Ltd. Sequentially, the company's top line is expected to rise around 12% while its bottom line growth is projected to be flat.

Premier Energies is an integrated solar cell and solar module manufacturer and is involved in the entire solar value chain, including engineering, procurement, and construction services. The company has posted robust gains in both net profit and revenues for every quarter since listing in September 2024.

Premier Energies increased its module manufacturing capacity to 11.1 gigawatts from 5.5 GW recently. Three brokerages see the company's solar module production rising 26% on year to 930 megawatts for the June quarter, while Anand Rathi expects it at 1.12 GW. Its solar cell output is seen rising to 810-843 MW, as per three brokerages. "...cell revenue expected to contribute a higher share of overall revenue," according to Prabhudas Lilladher.

The company received orders worth INR 30.11 billion in the June quarter and healthy execution of these is expected to support revenue growth. The orders comprise supply of a total 1.8 GW of solar cells and modules with delivery scheduled across the financial year 2026-27 (Apr-Jun) and FY28. The contracts have come from a mix of leading power producers, module manufacturers, engineering, procurement, and construction companies, and other customers.

The company's earnings before interest, tax, depreciation, and amortisation for the quarter are seen at INR 6.85 billion, up nearly 15% on year but down 4% sequentially, according to the average of seven brokerage estimates. The highest estimate for the EBITDA is INR 7.73 billion from Kotak Securities and the lowest is INR 6.34 billion from Nuvama Wealth Management Ltd.

Premier Energies' EBITDA margin is likely to contract to 28.5-29.5% due to a rise in prices of raw materials such as silver and an uneven product mix, as per three brokerages. Nomura projects the largest fall, of 108 basis points, in EBITDA margin for the quarter "on account of higher raw material prices and less favourable mix between sale of modules and cells." The company's EBITDA margin for the year-ago quarter was 31.94%.

In May, the company's management had dismissed analysts' concerns about a demand slowdown, strong competition, and costs and margin pressures. They said Premier Energies could benefit from the war in West Asia as it is "turning into a moment for renewables as all stakeholders look to rethink energy mix and reduce consumption of fossil fuels."

Nomura said investors will closely track management's commentary on the intensity of competition in the market, the company's capital expenditure plans, and updates on new business verticals.

Premier Energies will detail its June quarter results Thursday. Of the 10 brokerage reports on the company available with Informist, seven have a "buy" or an equivalent recommendation on the stock with an average target price of INR 1,115 per share. This is around 7% higher  than the current market price. Two brokerages have a "hold" recommendation.

At 1117 IST, shares of Premier Energies traded 0.9% lower at INR 1,034.40 on the National Stock Exchange. The company had reported a consolidated net profit of INR 4.57 billion for the March quarter on revenues of INR 22.30 billion. Since then, its shares have risen 6%.

Following are the June quarter earnings estimates for Premier Energies, in INR billion, from eight brokerages in descending order of the net profit estimate:

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Edited by Shubhayan Bhattacharya

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