Incorporated in April 1995, Premier Energies Limited is a leading manufacturer of integrated solar cells and solar panels. The company’s diverse product portfolio includes solar cells, monofacial and bifacial solar modules, as well as comprehensive EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) solutions. Headquartered in Hyderabad, Telangana, India, Premier Energies operates five state-of-the-art manufacturing units within the region.
Premier Energies serves a wide array of prestigious clients, including NTPC, TATA Power Solar Systems Limited, Panasonic Life Solutions Private Limited, Continuum, Shakti Pumps, and First Energy, among others. The company’s robust order book, as of July 31, 2024, stands at ₹59,265.65 million, comprising orders for non-DCR solar modules, DCR solar modules, solar cells, and EPC projects.
Premier Energies has established a significant global presence, exporting its products to countries such as the United States, Hong Kong, South Africa, Bangladesh, and several others across Europe, Asia, and Africa. As of June 2024, the company employed 1,447 individuals and engaged 3,278 contract labourers, reinforcing its position as a key player in the renewable energy sector.
Industry Outlook:
- Global solar capacity is set to grow at a 22.3% CAGR, reaching 3,180 GW by 2027, surpassing hydropower, natural gas, and coal by CY2027.
- Global renewable capacity additions surged 55% in 2023, reaching 475 GW, with renewables' share in electricity generation expected to hit 72.3% by 2050.
Premier Energies Limited IPO Objectives
The company plans to allocate the net proceeds from the issue for the following purposes:
- Investment in the company’s subsidiary, Premier Energies Global Environment Private Limited, for part-financing the establishment of a 4 GW Solar PV TOPCon Cell and 4 GW Solar PV TOPCon Module manufacturing facility in Hyderabad, Telangana, India (the “Project”).
- General corporate purposes
Peer Details
The only listed company considered by Premier Energies Limited as its peers is Websol Energy System Limited.
How to Apply for Premier Energies IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select Premier Energies IPO: Find and select the Premier Energies IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How to Check the Allotment Status of the Premier Energies Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Premier Energies Limited IPO
- Registered office: Plot No. 8/B/1 and 8/B/2, E-City, Maheshwaram Mandal, RaviryalaVillage, K.V. Rangareddy 501359, Telangana, India
- Phone: + 91 90 3099 4222
- E-mail:investors@premierenergies.com
IPO Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|
| Revenue from Operation (in ₹ million) | 31,437.93 | 14,285.34 |
| Profit After Tax (PAT) (in ₹ million) | 2,313.60 | (133.36) |
| Current Ratio (x) | 1.16 | 1.02 |
| Net Worth (in ₹ million) | 6,176.12 | 3,819.76 |
| Total Borrowings (in ₹ million) | 13,922.40 | 7,635.42 |
| Return on Equity (%) | 43.73 | (3.18) |
| Return on Capital Employed (RoCE) (%) | 25.65 | 5.94 |
| EPS (in ₹) | 6.93 | (0.38) |
Know before investing
Strengths
6Second largest integrated solar cell and module producer in India.
Annual installed capacity of 2 GW solar cells, 4.13 GW modules.
Exported 312.22 MW solar cells globally in Fiscal 2024.
As of July 31, 2024, ₹59,265.65 million in orders.
Transitioning to 1,000 MW TOPCon solar cell technology by Fiscal 2025.
Promoter-led team with 29 years of industry expertise.
Risks
6Reliant on top 10 customers for 67.03% of revenue.
Business depends heavily on solar cells and modules.
All five manufacturing units are concentrated in Hyderabad, Telangana.
Incurred losses of ₹(144.08) million in Fiscal 2022.
Experienced negative cash flow of ₹(410.48) million in June 2024.
Faces stiff competition from Indian and Southeast Asian manufacturers.
