Latest news with #ChiranjeevSaluja
Time of India
28-07-2025
- Business
- Time of India
Premier Energies Q1 net profit soars 55% to ₹308 cr
Premier Energies , a Telangana-based renewable energy firm, on Monday announced 55 per cent surge in its consolidated net profit , reaching ₹307.8 crore in the April-June (Q1) period of FY26, an improvement from the ₹198.1 crore profit recorded in the same period last financial year, according to a report by news agency PTI . It added that the growth was driven by increased revenues from its core solar cell and module manufacturing businesses. The company's revenue for the first quarter climbed to ₹1,869.6 crore, up from ₹1,668.7 crore in the corresponding period last year. Profit before tax also saw a healthy increase, rising to ₹402.9 crore from ₹245.7 crore. 'Our new cell line is one of the first TOPCon cell manufacturing plants in India and marks the company's foray into the next generation of high-efficiency solar technologies,' said Chiranjeev Saluja, managing director and chief executive officer, Premier Energies. The company has successfully commissioned its new 1.4 GW module and 1.2 GW TOPCon solar cell lines during the quarter, boosting its total manufacturing capacity to 5.1 GW and 3.2 GW. It added that commercial production at these new facilities is expected to commence soon. It plans to further expand its solar cell and module manufacturing capacity to 8.4 GW and 11.1 GW by June 2026. The renewable energy firm is diversifying into allied areas such as ingots and wafers, battery storage , and solar inverters.
News18
28-07-2025
- Business
- News18
Premier Energies profit grows 55 pc to Rs 308 cr in Apr-Jun
Agency: PTI Last Updated: New Delhi, Jul 28 (PTI) Renewable energy player Premier Energies on Monday posted 55 per cent rise in consolidated net profit at Rs 307.8 crore for June quarter FY26, driven by increase in revenues from core businesses. The company, which is into manufacturing of solar cells and modules, had clocked a net profit of Rs 198.1 crore in the April-June period of preceding 2024-25 financial year. In the first quarter, revenue rose to Rs 1,869.6 crore from Rs 1,668.7 crore in the year-ago period. Profit before tax also surged to Rs 402.9 crore from Rs 245.7 crore. 'The results reflect great progress on manufacturing and new projects fronts. Our new cell line is one of the first TOPCon cell manufacturing plants in India and marks the company's foray into next generation of high efficiency solar technologies," MD & CEO Chiranjeev Saluja said. The company will continue to support India's clean energy journey for 500 GW target by scaling up business with investments in cutting edge technologies, he said. Premier Energies achieved successful commissioning of its new 1.4 GW module and 1.2 GW TOPCon (series) cell lines taking the total manufacturing capacity to 5.1 GW and 3.2 GW, respectively during the quarter. Commercial production at the new plants is expected to begin soon. The company is looking to expand its solar cell and module manufacturing capacity to 8.4 GW and 11.1 GW by June 2026. It is also entering into allied areas like ingots and wafers, battery storage and solar inverters to become one of the largest fully leading integrated renewable energy equipment manufacturers globally. Last month, Crisil Ratings upgraded Premier Energies' long-term credit rating and short-term credit rating to A positive and A1, respectively. PTI ABI ABI ANU ANU view comments First Published: July 28, 2025, 13:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Business Standard
24-06-2025
- Business
- Business Standard
CRISIL Upgrades Premier Energies' Credit Rating to 'A / Positive' and 'A1'
NewsVoir Hyderabad (Telangana) [India], June 24: Premier Energies Limited, one of India's leading integrated solar cell and module manufacturers, is pleased to announce that CRISIL Ratings has upgraded its long-term credit rating from 'CRISIL A- / Positive' to 'CRISIL A / Positive' and short-term credit rating from 'CRISIL A2+' to 'CRISIL A1'. The rating upgrade underscores Premier Energies' strong operational performance, disciplined financial management, and strategic initiatives aimed at reinforcing its leadership in India's renewable energy landscape. Chiranjeev Saluja, Managing Director of Premier Energies Limited, commented, "We are honoured by CRISIL's recognition of our consistent performance and growth trajectory. This upgrade reflects the strength of our business fundamentals, the resilience of our strategy, and our steadfast commitment to creating long-term value for our stakeholders. It further enhances the trust of our investors, financial institutions, and customers as we scale our operations and support India's clean energy transition." Nand Kishore Khandelwal, CFO of Premier Energies Limited, added, "The upgraded rating by CRISIL is a testament to the continued strength of Premier Energies' financial position and its commitment to maintaining financial discipline while pursuing our strategic growth objectives. This upgrade positions us well for the next phase of expansion and innovation in the renewable energy sector." The rating upgrade reflects Premier Energies Group's strong operational and financial performance. Consolidated revenue more than doubled to Rs 6,518 crore in FY25, while EBITDA margins improved to 27.3% from 15.6% the previous year. Capacity utilisation also saw a sharp rise, averaging 88% for solar cells and 74% for modules. Backed by a strong order book and sustained demand, the group is well-positioned to execute its expansion plans and maintain momentum. Premier Energies has steadily expanded its manufacturing footprint, embracing cutting-edge technologies and diversifying its product portfolio to meet the dynamic needs of the solar industry. With a total capacity of 11.1 GW (including 6 GW under construction), the company is among India's largest integrated solar cell and module manufacturers. Significant investments are underway in AI-enabled production systems, full vertical integration, and the development of a complementary product suite--including inverters, ingots, wafers, and aluminium frames. These initiatives align with the Government of India's Atmanirbhar Bharat mission, promoting self-reliance in the renewable energy value chain. Premier Energies is a publicly listed company and a leading player in India's renewable energy sector with a current manufacturing capacity of 11.1 GW (including 6 GW under construction). The company is known for its innovation, sustainability, and employee culture, holding the distinction of winning a Great Place to Work certification for four consecutive years.
Fashion Value Chain
24-06-2025
- Business
- Fashion Value Chain
CRISIL Upgrades Premier Energies' Credit Rating to ‘A / Positive' and ‘A1'
Premier Energies Limited, one of India's leading integrated solar cell and module manufacturers, is pleased to announce that CRISIL Ratings has upgraded its long-term credit rating from 'CRISIL A- / Positive' to 'CRISIL A / Positive' and short-term credit rating from 'CRISIL A2+' to 'CRISIL A1'. The rating upgrade underscores Premier Energies' strong operational performance, disciplined financial management, and strategic initiatives aimed at reinforcing its leadership in India's renewable energy landscape. Mr. Chiranjeev Saluja, Managing Director of Premier Energies Limited Mr. Chiranjeev Saluja, Managing Director of Premier Energies Limited, commented, 'We are honoured by CRISIL's recognition of our consistent performance and growth trajectory. This upgrade reflects the strength of our business fundamentals, the resilience of our strategy, and our steadfast commitment to creating long-term value for our stakeholders. It further enhances the trust of our investors, financial institutions, and customers as we scale our operations and support India's clean energy transition.' Mr. Nand Kishore Khandelwal, CFO of Premier Energies Limited, added, 'The upgraded rating by CRISIL is a testament to the continued strength of Premier Energies financial position and its commitment to maintaining financial discipline while pursuing our strategic growth objectives. This upgrade positions us well for the next phase of expansion and innovation in the renewable energy sector.' The rating upgrade reflects Premier Energies Group's strong operational and financial performance. Consolidated revenue more than doubled to Rs 6,518 crore in FY25, while EBITDA margins improved to 27.3% from 15.6% the previous year. Capacity utilisation also saw a sharp rise, averaging 88% for solar cells and 74% for modules. Backed by a strong order book and sustained demand, the group is well-positioned to execute its expansion plans and maintain momentum. Premier Energies has steadily expanded its manufacturing footprint, embracing cutting-edge technologies and diversifying its product portfolio to meet the dynamic needs of the solar industry. With a total capacity of 11.1 GW (including 6 GW under construction), the company is among India's largest integrated solar cell and module manufacturers. Significant investments are underway in AI-enabled production systems, full vertical integration, and the development of a complementary product suite-including inverters, ingots, wafers, and aluminium frames. These initiatives align with the Government of India's Atmanirbhar Bharat mission, promoting self-reliance in the renewable energy value chain. About Premier Energies Limited Premier Energies is a publicly listed company and a leading player in India's renewable energy sector with a current manufacturing capacity of 11.1 GW (including 6 GW under construction). The company is known for its innovation, sustainability, and employee culture, holding the distinction of winning a Great Place to Work certification for four consecutive years.
Business Standard
20-05-2025
- Business
- Business Standard
Premier Energies Limited and Sino-American Silicon Products Inc. Announce a Joint- Venture for Solar Wafer Manufacturing
NewsVoir Hyderabad (Telangana) [India], May 20: Premier Energies Limited, an integrated solar cell and module manufacturer, has signed a 74:26 joint venture agreement with Taiwan-based Sino-American Silicon Products Inc. (SAS), whose subsidiary, GlobalWafers Co. Ltd., is the world's third-largest manufacturer of semiconductor silicon wafer with expertise in the research, development, and manufacturing of Silicon wafers. The JV will establish a 2 GW per annum State-of-the-art manufacturing plant in India. It will slice polysilicon ingots into silicon wafers for use in the production of photovoltaic cells and modules. The collaboration aims to bring together Premier Energies' large-scale manufacturing capabilities with SAS's advanced expertise in semiconductor wafer manufacturing. On the occasion of signing the JV agreement, Mr. Chiranjeev Saluja, Managing Director of Premier Energies, commented, "This agreement marks the start of our backward integration into solar wafers. We are excited to partner with SAS to produce high-quality solar wafers to increase the share of local manufacturing in the solar value chain. The JV will play a pivotal role in strengthening the Make-in-India policy initiative of the Indian government." Doris Hsu, Chairperson and CEO of Sino-American Silicon Products Inc. and GlobalWafers Co., Ltd., stated that this cooperation will be an important step for our future development in India. SAS and Premier Energies will bolster a critical aspect of the solar supply chain among various industry in India domestic and overseas markets. Furthermore, this can enhance both operational resilience and seize the strong demand of Indian market. Premier Energies is a publicly listed company and a leading player in India's renewable energy sector with a current manufacturing capacity of 11.1 GW (including 5.8 GW under construction). The company is known for its innovation, sustainability, and employee culture, holding the distinction of winning a Great Place to Work certification for four consecutive years. Sino-American Silicon Products Inc. (SAS), established in 1981, is a leading global supplier in the semiconductor and solar industries. While SAS itself focuses on high-performance solar cells and modules, the broader SAS Group offers a comprehensive range of related products through its subsidiaries, including high-quality silicon ingots, polished and epitaxial wafers, and sapphire wafers. Renowned for its technological excellence and superior product performance, SAS has consistently broken operational records and earned recognition as a top performer in both domestic and international markets. The company's commitment to innovation and customer satisfaction has made it a trusted partner in the solar and semiconductor industries.
