There was a surge in the stock of Premier Energies after receiving orders for solar modules worth ₹560 crore, know whether you will also get profit in the stock now?

Surge in Stock Following ₹560 Crore Solar Module Orders

Shares of Premier Energies Limited, India’s second-largest solar module manufacturer, surged by up to 4.06% after the company announced new orders totaling ₹560 crore from major independent power producers. Following this news, the stock traded at ₹1,058.80, reflecting a slight decline of 1.34% from the previous close.

Financial Performance Highlights

Premier Energies has reported remarkable growth in Q1 FY25, with revenues soaring by 171% to ₹1,657 crore compared to ₹611 crore in Q1 FY24. Net profit jumped 538%, rising from ₹31 crore to ₹198 crore. Notably, 64.32% of revenue stemmed from solar modules, solidifying the company’s position in the market.

Expanding Customer Base and Future Plans

With a robust customer base that includes NTPC and Tata Power Solar, Premier Energies aims to enhance its manufacturing capacity. Currently, the company has a solar cell production capacity of 2 GW and plans to invest ₹3,400 crore to expand to 7 GW in solar cell capacity and 8 GW in solar module capacity.