Premier Energies’ Shares Skyrocket After Bagging Rs 215 Crore Order

Premier Energies, a leading solar energy company, saw its shares soar to a lifetime high of Rs 1,264.90 per share on the BSE, marking a 4.84% increase in Tuesday’s trading session. This surge came after the company secured a significant order worth Rs 215 crore from the State Department of Agriculture in Uttar Pradesh.

The order entails the supply, installation, and commissioning of 8,085 solar water pumping systems across various districts in the state. With a completion deadline set for March 2025, this project is part of the PM-KUSUM scheme, aimed at providing energy security to farmers in India and increasing the share of non-fossil fuel sources in the country’s energy mix.

Premier Energies, the second-largest integrated solar cell and module manufacturer in India, boasts an annual installed capacity of 2 GW for cells and 3.36 GW for modules. The company offers a range of services in the solar power value chain, including engineering, procurement, construction, operation, maintenance, and independent power production.

In terms of financial performance, Premier Energies reported consolidated revenue of Rs 1,657.36 crore for the quarter ended June 30, 2024, and Rs 3,143.80 crore for the financial year 2023-24. The company’s market capitalization currently stands at Rs 56,137.19 crore, with its share price trading at Rs 1,244.35 at 10:45 AM.

As Premier Energies continues to expand its presence in the renewable energy sector, investors are closely watching its growth trajectory and the impact of its projects on the environment and the economy. With a strong focus on sustainability and innovation, the company is well-positioned to capitalize on the growing demand for clean energy solutions in India and beyond.

Stay tuned for more updates on Premier Energies and the latest developments in the renewable energy industry.