Premier Energies Limited has received a notable credit rating upgrade from CRISIL Ratings Limited, with its long-term rating elevated to ‘A+/Positive’ from ‘A/Positive’. This upgrade reflects the company’s strengthening business and financial profile, driven by robust operating performance and expansion of integrated manufacturing capabilities. Premier Energies also reported a strong start to FY27, with revenue up 34.1% and PAT up 53.3% year-on-year.
Credit Rating Upgrade to A+/Positive
Premier Energies Limited announced today that CRISIL Ratings Limited has upgraded its long-term credit rating to ‘A+/Positive’. The company’s previous rating was ‘A/Positive’, and the short-term rating remains unchanged at ‘A1’. This upgrade signifies a strengthening of Premier Energies’ business and financial standing, underpinned by its consistent operating performance and strategic expansion in integrated manufacturing.
Strong Financial Performance in Q1 FY27
The rating upgrade follows a particularly strong performance in the first quarter of Fiscal Year 2027 (Q1 FY27). Premier Energies reported a total revenue of ₹25,076 million, marking a 34.1% year-on-year increase. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at ₹7,594 million, up 27.2% YoY with a healthy margin of 30.3%. Profit After Tax (PAT) saw a substantial increase of 53.3% YoY, reaching ₹4,719 million. During the quarter, the company produced 844 MW of solar cells, 953 MW of solar modules, and 570 MVA of transformers.
Significant Order Wins and Business Visibility
Adding to its robust performance, Premier Energies secured new orders worth ₹3,011 crore during Q1 FY27. These orders comprise 1,846 MW of solar cells and modules, with deliveries scheduled across FY27 and FY28, ensuring strong business visibility. The orders were sourced from a diverse range of leading power producers, module manufacturers, EPC companies, and other key customers.
Company’s Vision for Growth
Commenting on the upgrade, Mr. Nand Kishore Khandelwal, Group CFO of Premier Energies Limited, stated, “The credit rating upgrade reflects the continued strengthening of Premier Energies’ business fundamentals and our disciplined approach to growth. As we expand our integrated manufacturing capabilities, our focus remains on technology leadership, operational excellence, and prudent financial management. We remain committed to building a globally competitive clean-energy manufacturing platform in India and contributing to the country’s Make in India and energy security objectives.”
Manufacturing Capacity Expansion
Premier Energies has recently inaugurated its 5.6 GW Seetharampur module manufacturing facility, recognized as one of India’s most advanced plants. This facility features automation capable of producing four modules every 16 seconds. Furthermore, the company is making significant strides with its 7 GW solar cell manufacturing facility at Naidupeta, enhancing its domestic manufacturing capabilities and integrated solar manufacturing footprint.
About Premier Energies Limited
Premier Energies Limited is a leading integrated solar manufacturer with over 30 years of experience. The company specializes in producing high-efficiency solar cells and modules, and is continuously expanding its integrated manufacturing capabilities across the solar value chain. Known for its focus on technology innovation, sustainability, and an employee-centric culture, Premier Energies has received the Great Place to Work certification for five consecutive years.
Source: BSE
