Green Energy Stock to Watch After Reporting 64% Profit Growth With ₹14,000 Cr Order Pipeline

Synopsis: The company delivered a strong operational performance with improving production, healthy demand visibility and ongoing expansion plans, helping it stay well-positioned to benefit from the growing solar manufacturing opportunity in India. 

The shares of this midcap company majorly engaged in manufacturing integrated solar cells, solar panels, monofacial & bifacial modules and many more were in focus after announcing robust Q4 FY26 Result. 

With the market capitalization of Rs. 45,334 Crores, the shares of Premier Energies Ltd were trading at around Rs. 995 per share which is 17 percent discount from its 52-week high of Rs. 1164 per share and is trading at a P/E 30 whereas industry P/E stands at 27.4.

Q4 FY26 results: 

Year on Year analysis: Revenue from operations has increased from Rs. 1621 Crores to Rs. 2230 Crores, up 27.56 percent. Operating profit has increased from Rs. 528 Crores to Rs. 675 Crores, up 27.8 percent and net profit has increased from Rs. 278 Crores to Rs. 457 Crores, up 64 percent. 

Quarter on Quarter analysis: Revenue from operations has increased from Rs. 1936 Crores to Rs. 2230 Crores, up 15 percent. Operating profit has increased from Rs. 593 Crores to Rs. 675 Crores, up 13.8 percent and net profit has increased from Rs. 392 Crores to Rs. 457 Crores, up 16.5 percent 

Strong Order Book Supports Future Growth

The company’s order book stood at 9.4GW, up 77% year-on-year, providing strong revenue visibility for the coming years. In value terms, the order pipeline stands at nearly Rs 14,000 Crores, while fresh orders worth Rs 2500 Crores were added during Q4FY26, reflecting continued demand for both modules and cells.

Higher Production Helped Margins

The company delivered a margin beat during the quarter mainly due to a favourable product mix and higher in-house cell production. Cell output increased to 722MW in Q4FY26 compared to 590MW in Q3FY26, helping the company perform better than several peers despite ongoing margin pressure across the solar manufacturing sector.

Healthy Capacity Utilisation

For the full FY26 period, total cell production reached 2.26GW compared to 1.6GW in the previous year. The company operated at an effective capacity utilisation level of 84 percent, indicating strong operational efficiency and better use of existing manufacturing facilities.

Expansion Plans Remain on Track 

The company continues to expand its manufacturing capacity to meet future demand. It is targeting 4.8GW of cell capacity by June 2026, followed by an additional 2.2GW expansion by September 2026. Alongside this, backward integration plans are progressing steadily, with 5GW ingot-wafer capacity expected by December 2027 and another 5GW planned by December 2028.

Positive Management Outlook

Management remains optimistic about future demand and expects momentum to continue into FY27. Strong policy support for domestic solar manufacturing, combined with the company’s large order book and expansion plans, is expected to support long-term growth opportunities. 

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