Date: August 18, 2026

Credit Rating Upgrade

CRISIL Ratings Limited upgraded Premier Energies Limited's long-term credit rating to 'A+/Positive' from 'A/Positive'. The short-term rating remains unchanged at 'A1'. The upgrade reflects the company's strengthening business and financial profile, supported by robust operating performance, disciplined execution, and expansion of integrated manufacturing capabilities.

Q1 FY27 Financial Performance

The rating upgrade follows strong Q1 FY27 results:

  • Total Revenue: ₹25,076 million, up 34.1% Year-over-Year (YoY)
  • EBITDA: ₹7,594 million, up 27.2% YoY
  • EBITDA Margin: 30.3%
  • PAT: ₹4,719 million, up 53.3% YoY

Operational Performance

During Q1 FY27, the company achieved the following production volumes:

  • Solar Cells: 844 MW
  • Solar Modules: 953 MW
  • Transformers: 570 MVA

Order Book

The company secured orders worth ₹3,011 crore during Q1 FY27, comprising 1,846 MW of solar cells and modules. Deliveries are scheduled across FY27 and FY28, providing strong business visibility. The orders came from a mix of leading power producers, module manufacturers, EPC companies, and other customers.

Management Commentary

Mr. Nand Kishore Khandelwal, Group CFO, stated: \"The credit rating upgrade reflects the continued strengthening of Premier Energies' business fundamentals and our disciplined approach to growth. As we expand our integrated manufacturing capabilities, our focus remains on technology leadership, operational excellence and prudent financial management. We remain committed to building a globally competitive clean-energy manufacturing platform in India and contributing to the country's Make in India and energy security objectives.\"

Capacity Expansion

The company recently inaugurated its 5.6 GW Seetharampur module manufacturing facility, described as one of India's most advanced module manufacturing plants with automation capable of producing four modules every 16 seconds. The company is also making significant progress on its 7 GW solar cell manufacturing facility at Naidupeta, which will further strengthen its domestic manufacturing capabilities and integrated solar manufacturing footprint.

Company Background

Premier Energies Limited is a publicly listed company and one of India's leading integrated solar manufacturers with more than 30 years of solar manufacturing expertise. The company manufactures high-efficiency solar cells and modules and is expanding its integrated manufacturing capabilities across the solar value chain.