₹1,234 Cr Orders: BlackRock held stock jumps after receiving orders for solar PV modules

The shares of the second-largest solar module and cell manufacturer gained up to 2 percent after the company secured two significant orders for the supply of solar PV modules worth Rs 1,234 crore.

Price movement

With a market capitalization of Rs  44,982.77 crore, the shares of Premier Energies Ltd were trading at Rs 997.90  apiece, decreasing around 0.34 percent as compared to the previous closing price of Rs 1,001.30 per share.

Reason for rise 

According to the company filing, Premier Energies Ltd secured significant two orders for the Supply of Solar PV Modules from its existing customers, orders aggregating Rs 1,234 crore. The supply of Modules is scheduled to commence from April 2025.

Financial analysis

Recently, Premier Energies reported exceptional results in Q3FY25, revenue increased by 12 percent on a quarter-on-quarter basis from Rs. 1,527 crore in Q2FY25 to Rs. 1,713 crore in Q3FY25. Further, revenue zoomed by 140 percent year on year, from Rs 712 crore in Q3FY24 to Rs. 1,713 crore in Q3FY25.

The company’s net profit increased by 14 percent on a quarter-on-quarter basis, from Rs. 206 crore in Q2FY25 to Rs. 255 crore in Q3FY25. Further, net profit magnified significantly

by 493 percent year on year from Rs 43 crore in Q3FY24 to Rs. 255 crore in Q3FY25. The company’s EBITDA margin expanded to 30 percent from 17.3 percent last year.

Also read: B.R Goyal Infra in focus after winning ₹38 Cr order from Liugong India

Market Dynamics

Robust domestic demand is driving solar sector growth, supported by rising adoption across segments. Exports contributed 3.44 percent of revenue for the quarter and 2.11 percent year-to-date. Favorable government policies and technological advancements are expected to further accelerate the sector’s expansion.

Prominent client & Footprint

The company has strong clientele including NTPC, TATA Power Solar Systems Limited, Panasonic Life Solutions Private Limited, Continuum, Shakti Pumps, First Energy, Bluepine Energies Private Limited, Luminous, Hartek Solar Private Limited, Green Infra Wind Energy Limited, Madhav Infra Projects Limited, SolarSquare Energy Private Limited and Axitec Energy India Private Limited.

The company has exported its products around the globe includes, 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 Philippines.

Order Book

As of December 2024, the company had an order book of Rs 6,946 crore This total included Rs Rs 4,375 crore for DCR solar modules, Rs 2,500 crore for solar cells, and Rs 69.46 crore for EPC projects.

Expansion plan

The company plans to expand with a 1 GW TOPCon cell and module line by Q1 FY26 and a 4 GW line by Q1 FY27, reaching 7 GW solar cell and 9.1 GW module capacity by June 2026. It also plans a 2 GW wafer facility and a 36,000 MT aluminum frame unit by FY26.

 BlackRock and Other prominent investors

The company received a stellar response for its anchor investments from big names like Blackrock, Nomura, Abu Dhabi Investment Authority, DSP India, Morgan Stanley, PNB Paribas, HDFC, ICICI, and many other Indian and global pension/equity funds. National Pension services managed by Blackrock Institutional Trust Company subscribed 3.5 percent of the anchor Portion.

Capex Plans

The company currently has a 2GW solar cell manufacturing facility, with plans to expand to 7GW, and a 4GW solar module manufacturing facility with a capex plan of Rs. 3,400 crore, partially funded by IPO proceeds and other sources. 

Future Outlook

The company remains optimistic about solar sector growth, focusing on the domestic market. Management is confident in completing new projects on time to meet rising demand. Continuous enhancement of technical and operational capabilities aims to maximize stakeholder value and sustain long-term success.

Company profile

Premier Energies is a manufacturer of solar cells and modules, with its core operations centered around the production of solar photovoltaic (PV) cells, specifically bifacial monocrystalline PERC cells using the M10 wafer size in a 182mm x 182mm format which could be assembled into solar modules.

Written by:- Abhishek Singh

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