Premier Energies
Premier Energies Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Strong and growing domestic demand driven by government policies like Make in India and ALMM-2/3 initiatives. The company expects strong growth driven by expansion plans including doubling cell and module capacity by FY '27.
From Premier Energies's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Strong and growing domestic demand driven by government policies like Make in India and ALMM-2/3 initiatives.
- Cell capacity increased from planned 4.8 GW to 7 GW by September 2026; target of 10 GW advanced by 18 months to FY 2026-27.
- Expected to double cell and module capacity by FY '27, with additional revenue streams from BESS, inverters, and ingot wafer.
- BESS first phase (6 GWh) completion targeted by June next year; anticipated revenues of INR ~1,000 crores in the first year.
- Inverter business focused initially on residential rooftop, aiming for 3 GW capacity and INR 1,500 crores revenue.
- Transformer capacity expanding to 16.75 GVA from 2.5 GVA, aiming to quadruple financials within 3 years.
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Profitability & Margins
See what Premier Energies said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Cell capacity expansion from 4.8 GW to 7 GW with incremental capex of ~INR 502 crores, advancing original FY '28 target by 18 months (Page 8, 14).
- Input wafer project with 5 GW in the first phase and another 5 GW in the second, with expected capex around INR 6,000 crores, mostly beyond next 12 months (Page 8).
- BESS capex planned in two phases: first phase (~INR 300 crores) till June next year, second phase another INR 300 crores nine months later (Page 8).
- Transformer company acquisition includes ramp-up and expansion: capacity increasing to 16.75 GVA by April next year with investment in higher value-added products (Page 13, 19).
- Focus on backward integration, adopting latest technologies (TOPCon, R&D in perovskites, tandem tech), and strategic expansion in modules, cells, BESS, and transformers (Pages 12, 24).
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Fundraising & Capital Structure
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Order Book & Pipeline
- The current order book has grown substantially, comprising several quarters' worth of revenue.
- The order book is firm; no framework or cancellable orders are included.
- Prices and margins in the order book are protected with pass-through clauses for forex and wafer costs.
- The order book spans a period of 12 to 18 months for execution.
- There is a significant increase in cell orders compared to modules due to capacity blocking by module manufacturers lacking their own cell production.
- External cell orders form about 60% of the backlog, all for external clients.
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Premier Energies — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹2.2K Cr, net profit ₹457 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Premier Energies Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Premier Energies Q2 FY26 results?
Strong and growing domestic demand driven by government policies like Make in India and ALMM-2/3 initiatives. The company expects strong growth driven by expansion plans including doubling cell and module capacity by FY '27.
What is Premier Energies share price analysis?
Premier Energies currently shows a neutral. The stock trades at a P/E of 24.6 with a market cap of ₹40,903 Cr. Investors should review the full earnings analysis for detailed insights.
Is Premier Energies planning capital expenditure?
Cell capacity expansion from 4.8 GW to 7 GW with incremental capex of ~INR 502 crores, advancing original FY '28 target by 18 months (Page 8, 14).
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.