Premier Energies Limited has incorporated a wholly owned subsidiary, PE Horizon Pte. Ltd., in Singapore. The incorporation was approved by the Accounting and Corporate Regulatory Authority (ACRA) on September 23, 2026.

The new entity is established to conduct wholesale trade, management consultancy services, and related activities within the clean energy industry. Its scope includes trading and ancillary activities involving clean energy capital goods.

Subsidiary details

The subsidiary was formed with an initial share capital of 10,000 Ordinary Shares valued at SGD 1 each. Premier Energies subscribed to 100% of the initial share capital at a price of SGD 1.00 per share. The consideration for the subscription was cash.

Regulatory compliance

This development follows an earlier intimation dated September 1, 2026, regarding the proposed incorporation. The company disclosed the event under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

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.