February 3, 2025 – Premier Energies Limited has announced its financial results for Q3 FY25, showcasing a strong performance marked by substantial revenue growth and improved profitability.
Key Financial Highlights (Q3 FY25)
| Financial Metric | Q3 FY25 | Q3 FY24 | YoY Growth | Q2 FY25 | QoQ Growth |
|---|---|---|---|---|---|
| Revenue from Operations (INR Mn) | 17,133 | 7,125 | +140.47% | 15,272 | +12.19% |
| EBITDA (INR Mn) | 5,495.72 | 1,255.41 | +337.76% | 4,069.02 | +35.06% |
| EBITDA Margin (%) | 31.42% | 17.56% | +78.85% | 26.19% | +19.95% |
| PAT (INR Mn) | 2,552.21 | 432.15 | +490.58% | 2,059.46 | +23.93% |
| PAT Margin (%) | 14.59% | 6.05% | +141.32% | 13.26% | +10.03% |
Segment-Wise Performance
- Capacity Utilization: Reached 96% for cells and 74% for modules, reflecting operational efficiency gains.
- Revenue Mix:
- Domestic Sales: 96.6% of total revenue.
- Exports: 3.4%, showing steady international market presence.
- Segment Contribution:
- Modules: 63%
- Cells: 36%
- EPC: 1%
Business & Expansion Updates
- Increased Order Book: Total orders stand at 4,539 MW, valued at INR 69,461 million.
- Capacity Expansion Plans:
- By June 2026: Expanding to 7 GW cell and 9.1 GW module manufacturing capacity.
- FY26: 2.0 GW wafer plant expected to commence operations.
- FY28: Plans for a 1.2 GW cell line in the U.S. to strengthen global presence.
- Technology Advancements:
- Achieved 23.65% cell efficiency for Mono PERC, M10R technology.
- Certified for 710W TOPCon modules under BIS & IEC standards.
Capital Structure & Financial Strength
- Debt-to-Equity Ratio: 0.62, indicating a stable financial position.
- ROE (Annualized): 42.05%
- ROCE (Annualized): 41.51%
- Net Debt: Increased to INR 19,177 million, reflecting capital investments in expansion.
Industry Outlook & Policy Tailwinds
- Strong government support through Production-Linked Incentives (PLI) and Import Duties (40% on modules, 25% on cells).
- Increased Renewable Purchase Obligations (RPOs) expected to boost demand.
- Global industry dynamics, including overcapacity in China, leading to declining raw material prices.
Management Commentary
Ravella Sreenivasa Rao, Company Secretary & Compliance Officer, stated: "Our robust performance this quarter is a testament to our operational efficiency, expansion strategies, and growing market presence. With continued technological advancements and capacity expansion, we remain poised for sustained growth in the renewable energy sector."Strategic Outlook
- Strengthening backward integration into wafer manufacturing.
- Expanding into U.S. markets to counter geopolitical trade restrictions.
- Enhancing R&D efforts through collaborations (MOU with BITS Pilani).
- Continued focus on ESG initiatives, including LEED-certified facilities and green energy adoption.