Solar module and cell manufacturer Premier Energies has reported a revenue of ₹24.63 billion (~$258.6 million) in the first quarter (Q1) of the financial year (FY) 2027, rising 35.25% year-over year (YoY) from ₹18.21 billion (~$191.18 million).

Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₹7.14 billion (~$75.01 million), up 30.3% YoY from ₹5.48 billion (~$57.57 million).

Profit after tax (PAT) grew 53.32% to ₹4.72 billion (~$49.55 million)from ₹3.08 billion (~$32.32 million) last year.

Premier Energies attributed its performance to higher solar cell and module production, strong domestic demand and order execution, and gains from its transformer business.

Premier Energies posted a revenue of ₹22.7 billion (~$237.12 million) in Q4 FY 2026.

Business Updates

Premier Energies’ solar cell production rose to 844 MW from 447 MW in Q1 FY 2026, while module production increased to 953 MW from 735 MW.

Effective capacity utilization was 92% for cells and 73% for modules during the quarter. The module utilization figure excludes Premier Energies’ newly commissioned 5.6 GW Seetharampur facility in Telangana. The facility uses advanced automation and can produce four modules every 16 seconds.

Domestic sales accounted for 99% of Premier Energies’ Q1 revenue, with exports contributing about 1%. Modules contributed 71% to the revenue, cells 24%, and Transcon about 4%.

In Q1 FY 2026, modules and cells accounted for about 76% and 22% of the revenue, respectively.

The company is developing 10 GW of ingot-wafer capacity, expanding cell capacity from 3.6 GW to 10.6 GW, and constructing 18,000 MT of aluminum frames and 12 GWh of battery energy storage system container capacity.

Premier Energies said the construction of its 7 GW solar cell manufacturing plant in Naidupeta, Andhra Pradesh, is nearing completion. Trial runs for this facility are expected by the end of August 2026.

The company’s order book stood at ₹150 billion (~$1.57 billion) as of June 30, 2026, representing 9,867 MW. Solar cells accounted for 58% of the order book value, modules for 40%, transformers for 2%, and engineering, procurement, and construction contracts accounted for less than 1%.

The order book value rose from ₹140 billion (~$1.47 billion) in March 2026, supported by ₹33 billion (~$346.51 million) in new orders, partly offset by ₹23 billion (~$241.5 million) of sales and execution.

Premier Energies’ transformer business, Transcon, reported a Q1 2027 revenue of approximately ₹1.1 billion (~$11.55 million), EBITDA of ₹294 million (~$3.1 million), and PAT of ₹183 million (~$2 million). Its operational capacity was 6.75 GVA, with another 10 GVA under construction and an order book of about ₹2.5 billion (~$26.25 million).

Transcon’s new 10 GVA high-voltage and extra-high-voltage transformer facility is in the advanced stages of construction, with commercial operation expected by September 2026.