Premier Energies spurts after bagging orders worth Rs 217 cr

This initiative falls under Component-B of PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan) Scheme aimed at ensuring energy security for farmers in India

The order includes supply, installation, and commissioning with 5 years comprehensive warranty of 8,085 solar water pumping systems in Uttar Pradesh (AP).

The said order is worth Rs 217 crore and it will be completed on or before March 2025.

The shares of Premier Energies entered the stock market on 3 September 2024. The scrip was listed at Rs 991, a premium of 120.22% to the issue price, Rs 450 per share.

Premier Energies is an integrated manufacturer of solar PV cells and solar modules, including custom-made modules for specific applications.

The company's consolidated net profit surged to Rs 198.16 crore in Q1 FY25 as compared with Rs 31.33 crore in Q1 FY24. Net sales stood at Rs 1,657.37 crore, steeply higher than Rs 611.02 crore in Q1 FY24.