Premier Energies has submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year ended March 31, 2026, to the stock exchanges. The filing includes an Independent Practitioner’s Assurance Report from Deloitte Haskins & Sells LLP, which provided reasonable assurance on core sustainability indicators and limited assurance on select additional metrics.

The report covers the company’s consolidated operations, excluding associate companies and greenfield projects under construction. Premier Energies operates six manufacturing plants and two offices nationally, alongside two international offices. Its primary business activities involve the manufacturing of photovoltaic solar cells and modules, which accounted for 97.34% of the total turnover in FY26.

Environmental Performance and Resource Usage

Total energy consumption rose to 7,43,553.85 GJ in FY26, up from 4,99,031.25 GJ in the previous year. Renewable sources contributed 48,923.97 GJ, while non-renewable sources accounted for 6,94,629.88 GJ. Greenhouse gas emissions (Scope 1 and Scope 2) increased to 1,28,177.35 metric tons of CO2 equivalent, compared to 91,003.67 metric tons in FY25.

Water withdrawal grew significantly to 4,74,523 kilolitres from 3,39,211 kilolitres in FY25. The company reported total water discharge of 6,938 kilolitres, primarily sent to third parties without treatment due to temporary maintenance at its Effluent Treatment Plant. Premier Energies confirmed that 100% of its PV cell manufacturing facilities in India operate with a Zero Liquid Discharge mechanism.

Waste Management and Social Metrics

Total waste generated increased to 17,561.15 metric tons in FY26, driven largely by other non-hazardous waste (13,101.42 MT) and other hazardous waste (3,434.91 MT). Of this, 5,443.51 metric tons were recovered through recycling or reuse. The company reported no landfilling of waste in FY26.

On the social front, Premier Energies employed 583 permanent employees and engaged 8,497 workers as of March 31, 2026. Female representation stood at 13.55% among employees and 30.27% among workers. The company reported one recordable work-related injury among workers, resulting in a Lost Time Injury Frequency Rate (LTIFR) of 0.049. No fatalities or high-consequence injuries were recorded.

Governance and Compliance

The Board of Directors comprises 12 members, with women holding 33.33% of the seats. Key Management Personnel included one woman (25.00%). The company maintains ISO 9001:2015, ISO 45001:2018, and ISO 14001:2015 certifications across its operational sites. Deloitte’s assurance scope excluded qualitative disclosures and forward-looking statements, focusing strictly on quantitative data within the defined reporting boundary.

What the Numbers Show

The divergence between rising energy consumption (+49%) and higher absolute GHG emissions (+41%) suggests that while renewable energy adoption increased (from 29,588 GJ to 48,923 GJ), the overall expansion in manufacturing output drove a net increase in carbon footprint. Additionally, water withdrawal surged by 40%, outpacing the growth in waste generation, indicating intensified resource usage per unit of production or expansion in facility capacity.

Premier Energies filed its Annual Report for FY 2025-26, reporting consolidated Profit After Tax of ₹15,097 million, a 61.1% year-on-year increase, on total income of ₹80,259 million.

Financial Performance

The company delivered strong growth across key financial metrics in FY26, driven by higher operating revenue and improved profitability. Revenue from operations rose 20.0% YoY to ₹78,244 million, while EBITDA grew 34.7% to ₹25,788 million, with EBITDA margin improving to 32.13% from 28.7% in FY25. PAT margin expanded to 18.81% from 14.09% in the previous year.

Return on equity moderated to 42% in FY26 from 54% in FY25, and ROCE declined to 34% from 42%, as the company continued to deploy capital towards capacity expansion and vertical integration. Two interim dividends of ₹0.25 per equity share and ₹0.75 per equity share were paid during the year, aggregating to ₹1 per equity share as the final dividend for FY26.

Manufacturing Scale-Up

FY26 marked significant capacity additions. Solar module capacity expanded from 5.1 GW to 11.1 GW, following the commissioning of a 5.6 GW TOPCon module facility at Seetharampur, Telangana. Solar cell capacity increased from 2.0 GW to 3.6 GW.

Actual production in FY26 reached 3,570 MW of modules and 2,268 MW of cells. The company's order book as on March 31, 2026 stood at 9,383 MW of cells and modules, with a total value of ₹140.1 billion.

Production Trend

Expansion Roadmap and Strategic Initiatives

Under Mission 2028, the company is scaling vertically integrated manufacturing across Telangana and Andhra Pradesh. Key milestones include:

• 7 GW TOPCon Solar Cell Facility at Naidupeta, Andhra Pradesh — targeted by September 2026
• 10 GW Ingot-Wafer Facility — 5 GW by December 2027, 5 GW by December 2028
• 12 GWh BESS Container Manufacturing — 6 GWh by June 2027, 6 GWh by June 2028
• 18,000 MT Aluminium Frame Facility — by June 2027
• 10.75 GVA Transformer Manufacturing — by September 2026

The company completed a 51% acquisition of Transcon Ind Limited (post-year end), taking operational transformer capacity to 6.75 GVA. It also incorporated HeliosAnthos Energies Private Limited, a 51:49 joint venture for EPC work across solar, wind and BESS projects.

Credit Ratings and Governance

CRISIL Ratings upgraded the company's long-term bank facilities to Crisil A/Positive (from Crisil A-/Positive) and short-term facilities to Crisil A1 (from Crisil A2+) in June 2025. CARE Ratings assigned CARE A+; Stable for long-term and CARE A1+ for short-term facilities in December 2025.

The 31st Annual General Meeting is scheduled for September 21, 2026. The Board has recommended re-appointment of M/s. Deloitte Haskins & Sells as statutory auditors for a further term of five years, subject to member approval.

ESG and Workforce

The company's total workforce stood at 9,080 as at year-end, with women representing 29.2% of the total. In FY26, 16,160 training and awareness hours were conducted. Zero work-related fatalities were reported, with one Lost Time Injury recorded during the year. The company published its inaugural Sustainability Report in January 2026 and joined the United Nations Global Compact as a participant. Scope 1 emissions stood at 4,898.56 tCO2e and Scope 2 emissions at 123,730.26 tCO2e for FY26. CSR expenditure for the year amounted to ₹20.12 million against a mandatory requirement of ₹11.14 million.