Premier Energies Limited has announced its audited financial results for the year ended March 31, 2026, reporting a robust 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 or other eligible securities. Furthermore, the company announced a leadership change, with Mr. Hitesh Kumar Jain appointed as the new Company Secretary and Compliance Officer, effective May 16, 2026.
Financial Performance Overview
For the financial year ended March 31, 2026, Premier Energies reported a strong performance with revenue from operations reaching ₹78,243.74 million. The company’s annual net profit for the same period stood at ₹15,096.89 million. This performance marks a significant milestone as the company continues to expand its footprint in the solar manufacturing sector.
Strategic Fundraising
To support its ongoing growth and infrastructure expansion, the Board of Directors has approved the raising of funds for an aggregate amount not exceeding ₹5,000 crore. This capital infusion is intended to be achieved through the issuance of equity shares, non-convertible debentures with warrants, or other eligible securities convertible into equity shares, via one or more tranches of qualified institutional placements or other permissible modes, subject to shareholder and regulatory approvals.
Leadership Transition
The company announced that Mr. Ravella Sreenivasa Rao, Company Secretary and Compliance Officer, will step down from his role at the close of business hours on May 15, 2026. Following this, Mr. Hitesh Kumar Jain, an industry veteran with over 25 years of experience in corporate governance and legal affairs, has been appointed as the new Company Secretary and Compliance Officer, effective May 16, 2026.
Auditor Re-appointment
The Board has recommended the re-appointment of M/s. Deloitte Haskins & Sells as the Statutory Auditors for a second term of five consecutive years. This re-appointment will commence from the conclusion of the 31st Annual General Meeting and continue until the end of the 36th Annual General Meeting, pending approval from the shareholders.
Source: BSE
