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Premier Energies Limited reported record revenue and profits for Q2 and H1 FY26. New cell and module lines are ramping up, with the 1.2 GW TOPCon cell line nearing full utilization by December, targeting >25.2% efficiency. The company is significantly expanding its Naidupeta TOPCon cell project from 4.8 GW to 7 GW by September 2026, bringing total cell capacity to 10.6 GW, 18 months ahead of schedule. This expansion is cost-efficient and funded by internal accruals.
New orders worth INR 6,511 crore were secured this quarter, with cell orders primarily external (60% backlog). Recent acquisitions of KSolare (inverters) and Transcon (transformers) are strategic; KSolare aims for INR 1,500 crore revenue within 2-3 years, while Transcon's capacity will quadruple to 16.75 GVA by April 2026. These new businesses, along with BESS (6 GWh phase one by June next year, targeting INR 1,000 crore+ revenue in FY27), are expected to contribute 30% of future revenue. Management highlighted stable margins for cells and DCR modules, with strong demand and positive long-term outlook despite short-term tender slowdowns. The company is actively studying US market expansion and accelerating a 5 GW ingot wafer project for commissioning by December 2027, driven by 'Make in India' initiatives and ALMM-3. The focus remains on scale, vertical integration, and advanced technology adoption.