About Company

* The Company was originally incorporated as “Premier Solar Systems Pvt. Ltd” in
April 1995, at Andhra Pradesh. Subsequently on conversion to public limited
company, the name was changed to “Premier Energies Ltd” in September 2019.
The company is an integrated solar cell and module manufacturer. In addition,
to manufacturing solar cells and modules, the company provides engineering,
procurement and construction solutions, operations and maintenance
services and operates as an independent power producer.
* Premier Energies is the 2nd largest integrated solar cell and solar module
manufacturer in India as well as it is 2nd largest solar cell manufacturer in terms
of annual installed capacity as of March 31, 2024. The company has an
aggregate annual installed capacity of 2 GW for solar cells and 4.13 GW for solar
modules. Further, the company is the largest solar cell exporter to the US
market in FY2024. The company exported US$ 31.2 million worth of solar cells
to the US in FY2024.
* The company has 5 manufacturing facilities all located in Hyderabad,
Telangana, India, and it conduct its operations through 8 subsidiaries in India
and overseas.
* In 2022 the company transitioned from the production of polycrystalline solar
cells to monocrystalline PERC solar and further plans to transition towards the
manufacturing of TOPCon solar cells given the even greater efficiencies afforded
by such cells. The company plans to commission a new 1,000 MW annual
installed capacity production line for the production of solar cells using TOPCon
technology in 2025.
* The company’s key customers across its business offerings include several IPPs,
OEMs and off-grid operators such as NTPC, TATA Power Solar Systems,
Panasonic Life Solutions, Continuum, Shakti Pumps, First Energy, Bluepine
Energies, Luminous, Hartek Solar, Green Infra Wind Energy (a subsidiary of
Sembcorp Green Infra), Madhav Infra Projects, SolarSquare Energy and Axitec
Energy India.
* As on July 31,2024 the company had an order book of * 5,926.56 Cr of which
* 1,609.11 Cr was in relation to non-DCR solar modules, * 2,214.06 Cr was in
relation to DCR solar modules, * 1,891.12 Cr was in relation to solar cells and
* 212.72 Cr was in relation to EPC projects.
* The company’s revenue from operations increased at a CAGR of 105.72% from
* 742.87 Cr in FY2022 to * 3,143.79 Cr in FY 2024. The company’s EBITDA
margin improved from 7.01% in FY2022 to 15.93% in FY2024. The company’s
Profit stood at * 231.36 Cr in FY2024 from a Loss of * 14.41 Cr in FY2022.

Strengths

Competitive Strength 

• Integrated solar cell and solar module manufacturer
• Long track record in the solar module manufacturing sector
• Experienced in solar cell line production
• Diversified customer base with customer relationships both within India and overseas with a robust order book
• Experienced Promoter-led senior management team

 Business Strategies 

• Expand overseas presence and increase exports especially in the U.S. market through strategic backward integration of production chain and establishing manufacturing capabilities outside of India
• Develop and grow its rooftop solar offering
• Capitalize on available market opportunities to grow the domestic business
• Expanding and upgrading manufacturing capacities using the latest technology

Company Promoters

Company Financials

Premier Energies Limited Financial Information (Restated Consolidated)

Objects of the Issue

The company proposes to utilize the net proceeds, being the gross proceeds of the Fresh Issue less the Offer related expenses (“Net Proceeds”), towards funding the following objects (collectively, the “Objects”):

• Investment in the 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”); and
• General corporate purposes