Premier Energies has announced robust financial results for the year ended March 31, 2026, reporting a consolidated net profit of ₹15,096.89 million. The company has also secured board approval to raise up to ₹5,000 crore through qualified institutional placements to support its growth initiatives. Additionally, the company announced key leadership transitions, including the appointment of Mr. Hitesh Kumar Jain as the new Company Secretary and Compliance Officer.
Financial Performance Highlights
For the financial year ended March 31, 2026, Premier Energies demonstrated significant growth. The company reported a total consolidated revenue of ₹80,259.06 million, up from ₹66,520.86 million in the previous year. Consolidated profit for the year stood at ₹15,096.89 million, showing a strong upward trajectory compared to the ₹9,371.32 million recorded in FY25. On a quarterly basis, the company reported a net profit of ₹4,568.37 million for the quarter ended March 31, 2026.
Strategic Fund Raising Plans
To fuel its ambitious expansion plans, the Board of Directors has approved the raising of funds for an aggregate amount not exceeding ₹5,000 crore. This capital will be raised through the issuance of equity shares, non-convertible debentures with warrants, or other eligible securities convertible into equity shares, primarily via qualified institutional placements or other permissible modes. This move is subject to necessary shareholder and regulatory approvals.
Leadership Transition
The company announced a change in its leadership team. Mr. Ravella Sreenivasa Rao has resigned from his position as Company Secretary and Compliance Officer, effective from the close of business hours on May 15, 2026. Consequently, the Board has appointed Mr. Hitesh Kumar Jain, an experienced legal and governance professional with over 25 years of experience, as the new Company Secretary and Compliance Officer, effective May 16, 2026.
Audit and Governance Updates
In a move to ensure continued governance excellence, the Board has approved the re-appointment of M/s. Deloitte Haskins & Sells as the Statutory Auditors for a second term of five consecutive years. Furthermore, M/s. Protiviti India Member Private Limited has been re-appointed as the Internal Auditor for the 2026-27 financial year, underscoring the company’s commitment to robust internal controls and financial transparency.
Source: BSE
