Premier Energies (PREMIERENE) Q3 24/25 earnings summary

Executive summary

• Achieved consolidated Q3 FY25 revenue of INR 17,494 million, up 144.76% year-over-year, with PAT rising 490% to INR 2,552 million and EBITDA margin improving to 29.97%.

• Capacity utilization for cells reached 96% in Q3 FY25, reflecting strong operational efficiency.

• Order book stood at INR 69 billion (4,539 MW) as of December 31, 2024, with 97% domestic orders.

• Approved unaudited financial results for Q3 and 9M FY25, declared interim dividend of ₹0.50 per share, and completed a major IPO.

• Focus remains on operational excellence, cost optimization, and timely project execution.

Financial highlights

• Revenue increased from INR 7,147 million in Q3FY24 to INR 17,494 million in Q3FY25; 9M FY25 revenue was INR 48,979 million, up 142.81% year-over-year.

• PAT margin improved from 6.05% to 14.59% year-over-year; EPS (Q3 FY25) rose to ₹5.66 from ₹1.29.

• Net debt to EBITDA ratio improved to 0.62 in Q3 FY25 from 9.51 a year ago.

• ROE and ROCE annualized at 42.05% and 41.51% respectively in Q3 FY25.

• Export sales comprised 74.7% of Q3 FY25 revenue, with cell and module sales as primary contributors.

Outlook and guidance

• Expansion plans target 9.1 GW module and 7 GW cell capacity by June 2026, with 2 GW wafer production to commence in FY26.

• Board approved technological upgradation plan for manufacturing assets, impacting depreciation expense.

• Management expects strong solar sector growth in India, supported by favorable policy and technology improvements.

• No formal EBITDA margin guidance, but management aims to maintain margins in the 25-30% range.

• Plans for 1.2 GW cell line in the US under review for FY 2028.