Solar module and cell manufacturer Premier Energies reported a total income of ₹17.49 billion (~$200.86 million) in the third quarter (Q3) of the financial year (FY) 2025, a 144.76% year-over-year (YoY) increase from ₹7.15 billion (~$82.09 million).

The company’s quarterly earnings before interest, taxes, depreciation, and amortization (EBITDA) also rose 337.76% YoY to ₹5.49 billion (~$63.03 million) from ₹1.26 billion (~$14.46 million).

The company’s quarterly net profit was ₹2.55 billion (~$29.28 million), a 490.58% YoY from ₹432.15 million (~$4.96 million).

The company reported an earnings per share (EPS) of ₹5.66 (~$0.065) compared to ₹1.03 (~$0.012) YoY.

As of December 2024, the company had an order book of 4,539 MW worth ₹69.46 billion (~$797.72 million), comprising 63% module capacity and 36% cell capacity.

The company has a solar cell manufacturing capacity of 2 GW, which it plans to expand to 7 GW by Q1 FY27. It also plans to expand its 4.1 GW solar module manufacturing capacity to 9.1 GW by Q4 FY26. Premier’s 2 GW wafer manufacturing plant is expected to commence operations in FY 2026.

In December last year, Premier Energies Global Environment announced the setting up 1 GW tunnel oxide passivated contact (TOPCon) solar module manufacturing facility at the EMC Maheshwaram industrial zone in Telangana. The project is expected to be completed by March 2025.

Premier Energies had previously invested ₹4.83 billion (~$66.3 million) to establish a 1.5 GW facility in Hyderabad to manufacture advanced monocrystalline passivated emitter and rear cell (MonoPERC) technology cells using larger wafers.

9M FY25

Premier Energies reported a revenue of ₹49.72 billion (~$571.01 million) in the first nine months (9M) of FY25, a 144.58% YoY increase from ₹20.33 billion (~$233.48 million).

The company’s 9M EBITDA also rose 329.39% YoY to ₹13.26 billion (~$152.28 million) from ₹3.09 billion (~$35.48 million).

The company’s net profit stood at ₹6.59 billion (~$75.68 million), a 417.52% YoY increase compared to ₹1.27 billion (~$14.58 million) in 9M FY24.

The company reported an EPS of ₹16.86 (~$0.19) compared to ₹5.48 (~$0.063).

Meanwhile, the company said during an investors’ call that its plans to establish a 1.2 GW solar cell manufacturing facility in the U.S. are under review due to the ongoing policy uncertainty in the U.S. market.

However, “We would like to clarify that no formal negotiations have taken place with our U.S. partner, Helaine USA, regarding this matter,” it added.

In August last year, Premier Energies’ ₹28.30 billion (~$337.4 million) initial public offering received an overwhelming response from various investor categories, with the issue subscribed over 74 times.