Premier Energies Limited · NSE:PREMIERENE
Premier Energies — Q2 FY2026 Earnings Presentation
43 slides from Premier Energies's earnings presentation, Oct 28, 2025
Slide 1: Exchange filing cover letter for investor presentation
Ref: PEL 62/ 2025-26 Date: October 28, 2025 To To The Secretary The Manager, BSE Limited Listing Department Phiroze Jeejeebhoy Towers, National Stock Exchange of India Limited Dalal Street, Exchange Plaza, C-1, G Block, Bandra-Kurla Mumbai - 400001 Complex, Bandra (East), Mumbai – 400 051 Scrip Code
Slide 2: Premier Energies Limited Q2 FY 2026 Earnings Call
PREMIER ENERGIES LIMITED Q2 FY 2026 Earnings Call 28 October 2025
Slide 3: Disclaimer
About Us Disclaimer This presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairn
Slide 4: Q2 highlights
About Us Q2 highlights Results Production Strong capital base Revenue Current capacity Total Debt / Equity 19,214 INR Mn Modules Cells 5.1 GW 3.2 GW 0.47 EBITDA 6,454 INR Mn Production Net Debt Modules Cells PAT 961 MW 507 MW -5,673 INR Mn 3,534 INR Mn 3
Slide 5: Agenda
AG E N DA 01 Industry highlights 02 Business updates 03 Sustainability and ESG 04 New businesses 05 Financial performance 06 Annexure – Company and Industry background 4
Slide 6: Industry Highlights
Premier Energies INDUSTRY HIGHLIGHTS
Slide 7: Attractive growth prospects for solar manufacturing
Industry Highlights Attractive growth prospects for solar manufacturing Growing demand Clear path to 100% domestic manufacturing Solar capacity addition in India, GW AC ALMM implementation timeline 12,000 2024 2025 2026 2027 2028 ALMM-I implementation from 10,000 April 2024 onwards 8,000 6,000 ALMM-
Slide 8: Strong policy support for domestic manufacturing
Strong policy support for domestic manufacturing GST on solar cells, modules and inverters slashed from 12% to 5% Lower project costs >> boost in consumer demand MNRE announces ALMM-II enforcement timeline Domestic cells required for utility-scale solar projects bid after August 2025 and for private
Slide 9: ALMM approved cell and module capacity
ALMM approved cell and module capacity ALMM-approved cell capacity, MW ALMM-approved module capacity, MW 15,078 3,212 < 1 GW capacity Thin-film 11,169 PERC Total Total 28,011 17,880 MW 116,427 MW 1-3 GW capacity 3,499 TOPCon 64,199 9,139 > 3 GW capacity > 3 GW capacity > 22% efficiency < 22% efficie
Slide 10: Improving outlook for cell manufacturing in the US
Improving outlook for cell manufacturing in the US US maintains IRA incentives for solar manufacturers Incentives for US made solar cells/modules intact until 2029; gradual phase out by 2032; projects completed by 2027 eligible for incentives, provided they commence construction by mid-2026 US launc
Slide 11: Soaring BESS demand
Soaring BESS demand Tender status, GWh Cumulative tender issuance 46 Open tenders 24 29 25 Awarded 14 Under construction 18 2018 - 2021 2022 2023 2024 2025 BESS (GWh) FDRE (GW) Solar+BESS (GWh) Source: IESA (29 September 2025) Note: Tender status data excludes awarded FDRE projects, where storage ca
Slide 12: Business Updates
BUSINESS UPDATES 11
Slide 13: Expansion of the cell project
Expansion of the cell project 7 GW cell manufacturing plant 4.8 GW Naidupeta, Andhra Pradesh to ✓ Land development work 7.0 GW completed ✓ Building work in progress ✓ Machinery orders being placed • Alignment with our Mission 2028 ahead of target ✓ Debt financing tied up • Capitalise on growing dema
Slide 14: Planning for ingot-wafer capacity
Business Updates Planning for ingot-wafer capacity 5 GW ingot-wafer manufacturing 2.0 GW wafers plant Naidupeta, Andhra Pradesh to 5.0 ✓ Land acquired GW ingot-wafers ✓ Site development work in progress ✓ Design work commenced • Draft ALMM-III policy issued for ingot-wafer manufacturing ✓ Machinery
Slide 15: Other key projects
Business Updates Other key projects 5.6 GW Module manufacturing plant BESS manufacturing plant Aluminium manufacturing plant Seetharampur, Telangana Pune, Maharashtra Seetharampur, Telangana ✓ Land acquisition completed ✓ Hired an experienced team ✓ Land acquired and development ✓ Site levelling and
Slide 16: Order book
Business Updates Order book As on 30 September 2025 Split by value Order book, INR Mn EPC, 0.1% 64,838 1,32,496 9,114 Cell, 59% Module, 40% MW 86,027 -18,369 Split by geography Export 0% 132,496 INR Mn Domestic Order Book value Jun' 25 Volume Sold New Bookings Order book value Sep' 25 100% 15
Slide 17: Production
Business Updates Production Quarterly production, MW Effective capacity utilization Cells Modules Cells Modules 961 96% 95% 94% 735 665 670 77% 79% 588 77% 79% 507 74% 75% 459 453 447 69% 363 Q2 FY Q3 FY Q4 FY Q1 FY Q2 FY Q2 FY Q3 FY Q4 FY Q1 FY Q2 FY 2025 2025 2025 2026 2026 2025 2025 2025 2026 202
Slide 18: Other contract wins
Business Updates Other contract wins Orders worth INR 1,749 Mn from Orders worth INR 583 Mn from the Republic of Benin, Africa Maharashtra and Madhya Pradesh • 750 rooftop solar systems • 2,630 solar pump systems • Over 4,400 high-efficiency solar • Under PM-KUSUM scheme streetlights • 650 solar wat
Slide 19: Sustainability and ESG
S U S TA I N A B I L I T Y A N D E S G 18
Slide 20: Sustainability goals
Sustainability and ESG Sustainability goals 38% Zero Liquid Discharge Avoided emission of Certified Great Place to Female employees Recycle 75% of water 24 MMTCO2e in Q2 FY Work for the fourth year on shop floor Reuse 80% of water 2026 by supply of in a row recycled modules & cells 25% Total green j
Slide 21: Sustainability goals
Sustainability and ESG Sustainability goals India’s first LEED gold rated Zero waste to land fill Adopted 9.74 acres for greenbelt solar manufacturing facility development certification by US Green Traceable and audited Building Council GHG emission accounting sourcing process implemented for scope
Slide 22: Empowering communities
Sustainability and ESG Empowering communities Funding support to Heal a Financial support for flood- Child Foundation to provide affected families in medical treatment for Uttarakhand, Punjab, and critically ill underprivileged Jammu & Kashmir children Installation of rooftop solar Awarded by Rotary
Slide 23: New Businesses
NEW BUSINESSES 22
Slide 24: Inverters – KSolare acquisition
New businesses Inverters – KSolare acquisition • Deep electronics manufacturing experience with 14 plants in 12 states 51:49 JV • Backward integration into PCB and other component manufacturing INR 1,700 Mn for acquisition • Catering to multiple industries including INR 800 Mn for capacity expansion
Slide 25: Inverter business – compelling market fundamentals
New businesses Inverter business – compelling market fundamentals India rooftop solar installations, MW Growing policy support for domestic 1,200 manufacturing 800 Mandatory data localization 400 MNRE has mandated India-based data storage for - Surya Ghar rooftop solar inverters to enhance cybersecu
Slide 26: Transformers – Transcon acquisition
New businesses Transformers – Transcon acquisition Promoters 51:49 JV FY 2025 audited financials Revenue INR 2,666 Mn Management TRANSCON IND LIMITED team EBITDA INR 340 Mn 72:28 JV PAT INR 163 Mn Current capacity - 2.5 GVA New capacity - 4.25 GVA by Jan-2026 with a capex of INR 400 Mn NEOTRAFO LIMI
Slide 27: Transformer business - compelling market fundamentals
New businesses Transformer business - compelling market fundamentals Power generation capacity, GW Transformer demand, GVA • High growth in demand because of electrification of economy – strong 693 605 alignment with RE capacity addition 545 269 • Attractive export potential 475 412 300 347 255 • Su
Slide 28: Powering clean energy with a complementary product portfolio
New businesses Powering clean energy with a complementary product portfolio Solar module manufacturing Allied products Ingots Wafers Cells Modules Inverters BESS Transformers • Diversified product portfolio with new engines of growth • Allied products expected to contribute about 25% of group revenu
Slide 29: Financial Performance
FINANCIAL PERFORMANCE 28
Slide 30: Operational performance and revenues
Financial Performance Operational performance and revenues Revenue from operations, INR Mn Operating EBITDA, INR Mn PAT, INR Mn +20.3% YOY +47.4% YOY +71.6% YOY +0.9% QOQ +2.3% QOQ +14.8% QOQ 32.6% 16.5% 16.5% 18.4% 18,207 18,369 6,800 30.0% 30.1% 30.5% 4,000 13.3% 14.6% 20.0% 17,133 3,534 16,208 5,
Slide 31: Revenue mix
Financial Performance Revenue mix Revenue mix by geography Revenue mix by business 7% 4% 6% 2% 5% 61% 70% 74% 72% 91% 94% 77% 97% 99% 99% 35% 24% 23% 24% 1% 16% 9% 3% 6% 1% Q2 FY Q3 FY Q4 FY Q1 FY Q2 FY Q2 FY Q3 FY Q4 FY Q1 FY Q2 FY 2025 2025 2025 2026 2026 2025 2025 2025 2026 2026 Exports Domestic
Slide 32: Other financial indicators
Financial Performance Other financial indicators Net debt, INR Mn Total debt to equity 0.69 0.62 0.55 0.49 0.47 -4,971 -5,673 -8,252 -9,919 -10,570 Q2 FY Q3 FY Q4 FY Q1 FY Q2 FY Q2 FY Q3 FY Q4 FY Q1 FY Q2 FY 2025 2025 2025 2026 2026 2025 2025 2025 2026 2026 Note: Net debt equals total debt less cash
Slide 33: Consolidated P&L
Financial Performance Consolidated P&L Amount, INR Mn Q2 FY 2026 Q2 FY 2025 Y-O-Y Q1 FY 2026 Q-O-Q Revenue from operations 18,368.65 15,272.20 20.28% 18,207.42 0.89% Other Income 845.01 263.72 220.42% 487.78 73.24% Total Income 19,213.66 15,535.92 23.67% 18,695.20 2.77% Cost of materials consumed 12
Slide 34: Consolidated balance sheet & cash flow statements
Financial Performance Consolidated balance sheet & cash flow statements Amount, INR Mn H1 FY 2026 FY 2025 Shareholders' Funds 34,540.61 28,221.06 Non-Current Liabilities 13,925.02 12,358.61 Current Liabilities 28,878.99 27,834.35 Total Liabilities 77,344.62 68,414.02 Fixed Assets 19,800.27 12,203.28
Slide 35: Annexure – Company Background
ANNEXURE – COMPANY BACKGROUND
Slide 36: 30 years of solar manufacturing excellence
Company background 30 years of solar manufacturing excellence Capacity expansion plus IPO inverter and Fresh capital transformer Capacity raise of INR acquisitions expansion INR 1.8 Bn 12.9 Bn Equity First cell line investment First module by GEF Capital line Incorporation Capacity Capacity Capacity
Slide 37: Mission 2028
Company background Mission 2028 To become India’s leading provider of cleantech solutions with a portfolio of complementary products Transition to TOPCon Backward integration technology Entry into allied products 10 GW+ integrated capacity Solar inverters BESS solutions Aluminium frames Ingots Wafer
Slide 38: Leading Indian manufacturer of cells and modules
Company background Leading Indian manufacturer of cells and modules Amongst the largest integrated One of the first 30 years cell-module manufacturers in India Indian companies to produce TOPCon cells of successful manufacturing track record ALMM, DCR and BIS compliant Nearly 100% market share Top P
Slide 39: Certifications and awards
Company background Certifications and awards 2025 2025 2025 2025 CII award for CFO of the 1.925 GW cell CII award for manufacturing Financial deal of year – energy, capacity approved excellence the year infrastructure & utilities under ALMM-II in July 2025 2025 2024 2024 Recognized among Star labell
Slide 40: Growing demand in India and worldwide
Industry Highlights Growing demand in India and worldwide Solar PV installed capacity, GW Power generation capacity addition in India from FY 2025-2032, GW 886 Biomass Coal 5 42 Nuclear Wind 12 609 76 Large Hydro 15 392 432 321 306 255 253 GW 204 204 175 168 163 138 137 131 118 113 102 96 94 94 90 8
Slide 41: Strong policy tailwinds
Industry Highlights Strong policy tailwinds Demand-side support Supply-side support Make in India support Renewable Purchase Obligation Solar park scheme ALMM RPO target for DISCOMs and bulk users rising 37.7 GW land and transmission infrastructure Enlisting requirement for cell and module from 29.9
Slide 42: Clear demand visibility for DCR modules
Industry Highlights Clear demand visibility for DCR modules ALMM-cell applicable to ALMM-cell applicable to ALMM-cell already applicable projects completed from projects auctioned from 9 June 2026 onwards Dec 2024 onwards PM-Surya Ghar PM-KUSUM CPSU Corporate rooftop Utility scale solar Yojana Yojan
Slide 43: Thank you!
Thank you! PREMIER ENERGIES LIMITED CIN: L40106TG1995PLC019909 Corporate office Production facilities 8th floor, Orbit Tower 1, Sy. No. 83/1, Plot No. 8/B/1&2, E-City, (Fab City) Maheshwaram Hyderabad Knowledge City, TSIIC, Mandal, Raviryala Village, Ranga Reddy District, Raidurgam, Hyderabad- 50008