The shares of this solar company hit the circuit after the new order, know whether you can also get profit?

Premier Energies Ltd Shares Hit Upper Circuit After Recent Orders

On Friday, shares of Premier Energies Ltd, one of India’s leading solar manufacturers, surged by 3.11% to ₹1,127.70. This increase follows a previous closing price of ₹1,093.70. The stock reached an intraday high of ₹1,142.35, contributing to a market capitalization exceeding ₹50,000 crore. The 52-week high stands at ₹1,264.90, while the low is ₹801.60 per share.

Know About Premier Energies Limited

With nearly three decades in the solar sector, Premier Energies specializes in the production of solar cells and modules. The company operates five manufacturing facilities in Hyderabad, boasting a total capacity of 2 GW and a production capability of 4.13 GW for solar modules.

Financial Performance of the Company

In Q2 FY25, Premier Energies reported a remarkable 121% growth in net sales, totaling ₹1,553.59 crore, with a net profit increase of 290% to ₹205.95 crore compared to Q2 FY24. For H1 FY25, net sales grew by 144%, reflecting the company’s robust financial health.

Strong Order Book

As of September 30, 2024, the company’s order book stood at ₹6,233 crore, with key clients including NTPC and Tata Power Solar Systems. Recently, it secured orders worth ₹765 crore for solar modules, reinforcing its strong market position.

Conclusion

The recent rise in Premier Energies’ stock highlights its potential in the solar market, making it an attractive option for investors looking at renewable energy opportunities.

Disclaimer: This article is for educational purposes only and should not be considered investment advice.