Premier Energies Reports FY26 PAT of INR 15,097 Mn, Up 61 Percent YoY, Module Capacity Reaches 11.1 GW
Premier Energies reported a 61 percent surge in FY26 PAT to INR 15,097 Mn on revenue of INR 80,259 Mn, with cell capacity at 3.6 GW and module capacity at 11.1 GW.
May 19, 2026. By EI News Network
For the fourth quarter of FY26, the company posted total revenue of INR 22,689 million, a 15.4 percent sequential increase and 35 percent higher than the same quarter last year. Quarterly PAT came in at INR 4,568 million, up 64.5 percent year-on-year, with a margin of 20.1 percent. The company's EBITDA for the full year was INR 25,787 million, a growth of 34.7 percent over FY25, with margins expanding to 32.1 percent from 28.8 percent a year ago.
On the production front, Premier Energies reported annual cell production of 2,268 MW in FY26, up from 1,611 MW in FY25, while module production rose to 3,570 MW from 2,431 MW over the same period. As of March 31, 2026, the company's installed solar cell capacity stood at 3.6 GW and module capacity at 11.1 GW. During the year, the company commissioned a 5.6 GW fully automated module manufacturing facility capable of producing four modules every 16 seconds using TOPCon technology with Zero Busbar architecture.
The company's ambitious expansion plans remain on track. A 7 GW cell manufacturing plant at Naidupeta in Andhra Pradesh has completed civil work, with machinery installation underway; 4.8 GW is expected to be commissioned by June 2026 and the remaining 2.2 GW by September 2026.
Additionally, a 10 GW ingot-wafer plant at the same location is under development, with land acquisition complete and the first 5 GW phase targeted for December 2027, followed by the balance 5 GW by December 2028. Premier Energies is also diversifying into new verticals, with first-phase targets including a 12 GWh BESS container plant, an 18,000 MTPA aluminium frames facility, and a 3 GW inverter plant, all expected by March 2027 except the inverter plant which is slated for December 2026. The company has also completed a 51 percent acquisition of Transcon, which has a transformer order book of INR 2,314 million, and a new 10 GVA transformer plant (up to 400 kV) is expected to be commissioned by July 2026.
As of March 31, 2026, Premier Energies reported a total order book of INR 140,100 million (9,383 MW), almost entirely from the domestic market, with cells accounting for 58 percent of the order value and modules for 42 percent. The company's balance sheet remains strong, with a total debt-to-equity ratio of 0.86x, net debt-to-EBITDA of 0.41x, a CRISIL rating of A+/A1 (Stable), return on capital employed of 33.5 percent, and return on equity of 42.4 percent Operating cash flow for the year stood at INR 12,611 million.
The filing noted that India added a record 44.6 GW AC of solar capacity in FY26, driven by utility-scale projects and the PM Surya Ghar scheme. The company highlighted that over 60 GW of solar and 20 GW of hybrid projects are under development with signed PPAs. Premier Energies also pointed to upcoming policy shifts, including mandatory domestic cells (ALMM-II) for rooftop and open access projects after May 2026, and future ingot-wafer requirements (ALMM-III), which are expected to drive industry consolidation and benefit upstream manufacturers.
On the ESG front, the company reported that it avoided an estimated 100 million metric tonnes of CO2e through its cell and module supply in FY26. It also achieved zero liquid discharge, 30 percent female employees in its plants, and a LEED Gold rating for its manufacturing facility. Premier Energies was ranked among the top 13 global module manufacturers by Terawatt PV and received the CII National EHS Excellence Award (Bronze) for 2025.
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