Premier Energies (PREMIERENE) Q4 23/24 earnings summary

Executive summary

• Consolidated revenue surged to ₹31,437.93 million for FY24, up from ₹14,285.34 million in FY23, with net profit at ₹2,317.76 million versus a net loss of ₹133.36 million last year.

• Standalone revenue rose to ₹10,502.54 million (FY23: ₹7,212.56 million), but net profit declined to ₹70.08 million from ₹138.34 million.

• Major expansion in manufacturing capacity and new technology adoption, including TOPCon solar cell lines.

Financial highlights

• Consolidated total income: ₹31,713.09 million (FY24) vs ₹14,632.12 million (FY23).

• Consolidated net profit: ₹2,317.76 million (FY24) vs net loss of ₹133.36 million (FY23).

• Standalone net profit: ₹70.08 million (FY24) vs ₹138.34 million (FY23).

• EBITDA and EBIT not explicitly stated, but operating profit before tax improved significantly on a consolidated basis.

• Earnings per share (EPS): Basic ₹6.93, Diluted ₹5.48 (adjusted for bonus issue).

Outlook and guidance

• Plans to commission a new 1,000 MW TOPCon solar cell line in FY25.

• Proceeds from proposed IPO to fund further expansion, including 4 GW each of new TOPCon cell and module lines.

• No dividend recommended for FY24 to consolidate financial position.