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The supply of these modules is scheduled to commence from April 2025.
Premier Energies said that it has received two orders from existing customers.
Brokerage firm ICICI Securities initiated coverage on Premier Energies, with a ‘Buy’ rating on February 13. It has a price target of ₹1,228 on the stock.ICICI Securities wrote in its note that Premier Energies has catapulted itself in the last three years to emerge as the third largest player in solar cell manufacturing in India.
The government recently bolstered its support for the sector with a slew of measures – among other outcomes, it has been able to fend off Chinese competition.The current set of import barriers, despite being significant, are still limited. The new set of barriers would effectively limit competition in the domestic market to Indian solar integrated cell and module manufacturers, post June 2026.
Separately, opportunities from export markets, especially US, are aiding Indian manufacturers.
Over the next two years, Premier Energies is expected to expand its existing cell and module capacity of 2GW and 3GW to 7GW and 8GW, respectively. As a result, earnings will likely grow at a 90% CAGR over FY24–27E.
Premier Energies manufactures integrated solar cell and solar panel. The company’s product portfolio includes Cell, Solar Module, Monofacial modulesBifacial modules, EPC Solutions and O&M Solutions.
Premier Energies is trading at 30 times its financial year 2027 earnings estimate.
Shares of Premier Energies are trading 0.79% lower on Friday at ₹992.30. The stock still remains below its post-listing high of ₹1,388.
