Premier Energies shares declined by 2.02% to ₹1,028.80 during afternoon trade on Wednesday, despite maintaining strong brokerage backing. ICICI Securities has joined Motilal Oswal in issuing bullish recommendations on Premier Energies, both maintaining buy ratings with target prices of ₹1,250 and ₹1,240 respectively. As per ICICI Securities' research report dated August 10, 2026, the brokerage maintains its buy rating with an unchanged target price of ₹1,250, reflecting strong confidence in the company's growth trajectory and operational performance.
Premier Energies delivered robust first quarter results for FY27, with revenue reaching ₹24.6 billion, which was 35% higher year-on-year. The company's EBITDA grew by 30% YoY to ₹7.1 billion, while earnings increased by 53% to ₹4.7 billion. The company demonstrated strong operational metrics with solar cell production of 0.84GW (+89% YoY) and module production of ~1GW (+35% YoY). Module and cell production reached 953/844MW with a capacity utilization factor of 63%/92% respectively during the quarter.
The company has undertaken significant capacity expansion initiatives, expanding its module capacity by 5.6GW, bringing aggregate capacity to 11GW by the end of June 2026. ICICI Securities reports that Premier Energies is expanding capacity for cell/wafer to 10.6GW/10GW by Q2FY27/FY28, positioning the company for substantial growth. The brokerage notes that the wafer-to-cell spread remains healthy, while the spread on cell-to-module has declined sharply, indicating operational efficiency improvements.
The company's order book performance has been exceptional, with order book standing at ₹150 billion (+74% YoY) and order inflow during Q1 at ₹33 billion (+67% YoY). As per ICICI Securities, this strong order book growth demonstrates robust demand for the company's solar solutions and positions Premier Energies well for sustained growth in the renewable energy sector.
According to Moneycontrol's analysis as of August 11, 2026, the sentiment surrounding Premier Energies remains bullish, suggesting a positive investor outlook for the company's future performance. As a constituent of the Nifty Midcap 150 index, Premier Energies holds a significant position within its segment, influencing mid-cap investor portfolios and perceptions. The company has demonstrated remarkable financial transformation, achieving consolidated revenue growth of 447.78% from ₹1,428.53 crore in March 2023 to ₹7,824.37 crore in March 2026, while transitioning from a Net Loss of ₹14.56 crore to a significant Net Profit of ₹1,504.57 crore during the same period.
