Solar stocks displayed mixed performance on Wednesday amid broader market weakness, with Suzlon Energy, Premier Energies, and Waaree Energies all trading lower. According to latest reports, Waaree Energies emerged as the biggest laggard, declining as much as 2.03% on BSE, followed by Premier Energies with a 1.17% decline, while Suzlon Energy shares fell as much as 0.8%. The sector's divergent performance reflects varying investor sentiment across different renewable energy companies, with solar stocks having remained under pressure over the past month. Suzlon Energy share price has declined more than 12%, while Waaree Energies and Premier Energies shares have fallen 9% and over 7% respectively during this period.
Premier Energies delivered robust quarterly performance with revenue growing 35% YoY to ₹24.6 billion in the June quarter, driven by significant capacity expansion and production growth. As reported by The Economic Times, the company produced solar cells of 0.84 GW, up 89% YoY, and modules of ~1 GW, up 35% YoY. During the quarter, Premier Energies expanded its module capacity by 5.6 GW, with aggregate capacity reaching 11 GW by the end of June 2026, and is expanding capacity for cell and wafer to 10.6 GW and 10 GW by Q2FY27 and FY28 respectively. EBITDA grew 30% YoY to ₹7.1 billion and earnings grew 53% to ₹4.7 billion, with the company maintaining a strong order book of ₹150 billion, up 74% YoY.
Suzlon Energy delivered strong Q1 FY27 results with its highest-ever Q1 deliveries of 506 MW, up 14% YoY, demonstrating robust operational performance despite margin pressures. As reported by The Economic Times, revenue in Q1FY27 grew 22.3% YoY to ₹3,829 crore, led by a 27.2% rise in Renewable Energy Solutions revenue to ₹3,147 crore and RE AMS revenue increasing 8.1% YoY to ₹632 crore. However, the company's margin fell 358 bps YoY to 15.5%, with flat EBITDA of ₹595 crore as Suzlon 2.0 investments and deferred deliveries diluted operating leverage. Despite the margin pressure, brokerage firm Geojit Financial Services upgraded Suzlon Energy to 'Buy' with a target price of ₹56, citing its net-cash balance sheet, ~19% ROE and ~25% earnings CAGR.
Waaree Energies reported quarterly performance that was complemented by ₹3.5 billion reciprocal tariff reversal, masking a weak operational quarter characterized by subdued utilisation and softer exports, according to analysts. As reported by The Economic Times, while the company's management expects a stronger H2FY27 led by higher DCR cell production, normalisation of US shipments and commercialisation of BESS business, execution will continue to remain critical. The brokerage firm Anand Rathi trimmed its estimates and valuation multiple for FY27 and FY28, maintaining a 'Buy' call with Waaree Energies share price target of ₹3,333, supported by its integrated manufacturing platform, record ₹615 billion order book and long-term structural growth drivers.
NTPC Green Energy shares were up 0.63% to 92.10 per unit on the NSE, following positive business developments. According to The Economic Times, on Friday, the company emerged as a successful bidder in the e-reverse auction conducted by the West Bengal State Electricity Distribution Company Ltd (WBSEDCL) to develop Standalone Battery Energy Storage System (BESS) projects in the state. The tender aimed at establishing 500 MW/ 2000 MWh of standalone BESS capacity through a Tariff-Based Competitive Bidding process. This contract win demonstrates NTPC's continued success in securing renewable energy projects despite challenges from traditional energy sources that persist as barriers to the global solar energy transition.
