Premier Energies shareholders approved all eight resolutions at its 31st annual general meeting held on September 21, 2026. The voting results, disclosed on September 22, 2026, confirm strong institutional and public support for the company’s strategic initiatives.

The most significant approval was for a capital raising measure of up to ₹5,000 crore via equity or convertible securities. This resolution received 99.25% votes in favour from the total valid votes cast. The meeting also saw the adoption of audited financial statements for FY26 and the confirmation of a final dividend of ₹1.00 per equity share.

FY26 Financial Performance

Chairman Surenderpal Singh Saluja highlighted that FY26 was a year of breakthrough growth for the solar manufacturer. Revenue from operations grew 20.7% to ₹7,824 crore. EBITDA expanded by 35% to ₹2,579 crore.

Return on capital employed stood at 33.5%, while return on equity was 42%. These metrics reflect improving productivity and profitability as the company scaled its cell and module capacities.

Voting Results Overview

The company reported that 335,616 shareholders were on the record date of September 14, 2026. Voting took place via remote e-voting prior to the meeting and during the virtual AGM. Promoters and promoter group voted nearly 100% in favour across all items. Public institutions showed varying levels of dissent on specific governance matters but ultimately supported the key resolutions.

Strategic Expansion Plans

The approved fundraising will support the company’s strategy of progressive backward integration. Premier Energies is developing a 10 GW ingot and wafer capacity at Naidupeta, aiming to become one of the largest fully integrated solar module manufacturers outside China.

Additionally, the company is building a 12 GWh battery energy storage business in partnership with RCT Solutions Germany. The first phase of 6 GWh is targeted for commissioning by June 2027. The transformer business, Transcon Ind, is also expected to benefit from grid infrastructure investments.

Key Resolutions Passed

The board secured shareholder approval for several ordinary and special business items. The outcomes reflect the company's focus on sustainable value creation and expansion across the solar value chain.

Sustainability and Governance

The company reported that women account for more than 30% of its total workforce, supporting 9,220 green jobs. CSR spending reached ₹66 million, focused on healthcare, education, and rural development. The manufacturing business contributed to the avoidance of approximately 100 million tonnes of CO2-equivalent emissions during the year.

The Company Secretary confirmed no qualifications or adverse remarks in the Statutory Auditors' Reports or the Secretarial Audit Report for the financial year ended March 31, 2026.

Premier Energies has commissioned a 7 GW N-type TOPCon G12R solar cell manufacturing facility at Naidupeta, Andhra Pradesh. The project, developed at a capital expenditure of ₹3,293 crore, raises the company’s total solar cell capacity to 10.6 GW, establishing it as India’s largest solar cell manufacturer.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The facility spans 101 acres and is designed for high-throughput production, capable of manufacturing approximately 88,000 solar cells per hour. The plant utilizes advanced digital systems and artificial intelligence for predictive performance analysis and process control.

Capacity Expansion and Technology

The new facility complements Premier Energies’ existing operations, bringing the aggregate capacity to 10.6 GW. The plant is built for future scalability, with design provisions for upgrades to next-generation TOPCon+ technologies, including poly-finger metallisation and advanced edge-isolation processes. Upon stabilization and ramp-up, the facility targets an average solar cell efficiency of approximately 25.8%.

Strategic Outlook

Chiranjeev Saluja, Managing Director, stated that commissioning the facility on time and within budget is a significant execution milestone. He noted that the timing aligns with positive outlooks for orders, pricing, and demand for high-efficiency solar products. The scale addition aims to improve supply reliability and operating efficiency as the line stabilizes.

Sudhir Reddy, Director & Chief Strategy Officer, added that the Naidupeta plant is a key step in the integrated manufacturing roadmap. The combination of scale, automation, and advanced technology is intended to strengthen supply-chain resilience and address demand in domestic and international markets.

Sustainability and Integration

The facility incorporates a Zero Liquid Discharge (ZLD) system to maximize water recycling and reuse, supporting the company’s focus on sustainable manufacturing. Premier Energies is undertaking a broader ₹12,500 crore capital expenditure programme over three years. This initiative aims to more than double solar manufacturing capacity, expand backward integration into ingots and wafers, and diversify into inverters, transformers, and battery energy storage systems.