Premier Energies Limited Announces Board Changes and Key Corporate Updates

1 min read     Updated on 12 Aug 2025, 10:08 PM
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Ashish ThakurBy ScanX News Team
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Overview

Premier Energies Limited has appointed Mr. Nishith Hasmukh Mehta as an Additional Non-Executive Independent Director for a five-year term, while Mr. Jasbir Singh Gujral has stepped down from his position. The company has recommended M/s P. S. Rao & Associates as Secretarial Auditor for five years. The record date for dividend eligibility is set for August 29, 2025, and the 30th Annual General Meeting is scheduled for September 12, 2025.

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*this image is generated using AI for illustrative purposes only.

Premier Energies Limited , a prominent player in the energy sector, has announced significant changes to its board composition and several key corporate updates following a board meeting held on August 12, 2025.

Board Restructuring

The company has appointed Mr. Nishith Hasmukh Mehta as an Additional Non-Executive Independent Director for a term of five years, subject to shareholder approval at the upcoming Annual General Meeting (AGM). Mr. Mehta, who brings 25 years of experience in compliance and risk management, will serve from August 12, 2025, to August 11, 2030.

Mr. Mehta's extensive background includes leadership roles at prestigious financial institutions. He previously served as Co-Head of Asia Pacific Compliance and Operational Risk at Bank of America Merrill Lynch, where he spent over 15 years. His expertise spans regulatory strategy, governance, and control frameworks for financial institutions, with a focus on banking, NBFCs, fintech, asset management, and securities sectors.

Concurrently, Mr. Jasbir Singh Gujral has stepped down from his position as Independent Director, effective August 12, 2025. As a result, Mr. Gujral will also cease to be a member of the Audit Committee, Nomination Remuneration Committee, and Risk Management Committee of the company.

Appointment of Secretarial Auditor

The board has recommended the appointment of M/s P. S. Rao & Associates, Practicing Company Secretaries, as the company's Secretarial Auditor for five consecutive financial years from 2025-26 to 2029-30. This appointment is subject to shareholder approval at the forthcoming AGM.

Dividend and AGM Details

Premier Energies Limited has set August 29, 2025, as the record date for determining dividend eligibility for the financial year 2024-25. The company's 30th Annual General Meeting is scheduled for September 12, 2025, at 3:00 P.M. IST, to be conducted via video conferencing or other audio-visual means.

Voting Eligibility

The board has designated September 5, 2025, as the cut-off date for determining members eligible to vote on resolutions presented in the AGM notice.

These corporate actions reflect Premier Energies Limited's commitment to maintaining strong corporate governance and ensuring transparency with its shareholders. The appointment of Mr. Mehta, with his rich experience in risk and compliance, is expected to bring valuable insights to the company's board as it navigates the evolving energy landscape.

Historical Stock Returns for Premier Energies

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Premier Energies Reports Record Q1 Performance with 12% Revenue Growth and 61% EBITDA Surge

1 min read     Updated on 30 Jul 2025, 04:26 PM
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Ashish ThakurBy ScanX News Team
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Overview

Premier Energies Limited achieved its strongest quarterly performance in Q1 FY26, with total revenue up 12% YoY to INR 18,695.00 million, EBITDA surging 61% to INR 5,971.00 million, and PAT increasing 55% to INR 3,078.00 million. The company commissioned new manufacturing lines, expanding its capacity. With an order book of INR 86,027.00 million and ambitious expansion plans, Premier Energies aims to build 10 GW integrated manufacturing capacity, 12 GW BESS, and 3 GW inverter capacity by FY28. The company remains focused on the Indian market and is optimistic about the solar industry's growth trajectory.

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*this image is generated using AI for illustrative purposes only.

Premier Energies Limited, a leading player in India's solar manufacturing sector, has delivered its strongest quarterly performance to date, showcasing robust growth across key financial metrics for Q1 FY26.

Financial Highlights

The company reported a total revenue of INR 18,695.00 million, marking a 12% year-on-year growth. More impressively, Premier Energies saw its EBITDA surge by 61% to INR 5,971.00 million, while profit after tax increased by 55% to INR 3,078.00 million compared to the same quarter last year.

Operational Milestones

During the quarter, Premier Energies successfully commissioned its 1.4 gigawatt module line and 1.2 gigawatt TOPCon cell manufacturing line. This expansion marks a significant step in the company's growth trajectory and sets the stage for its next phase of expansion.

Strong Demand and Order Book

The company reported strong demand across all segments, with its order book standing at INR 86,027.00 million, backed by 100% domestic exposure. Management confirmed that all expansion projects under their ambitious Mission 2028 remain on track and within budget.

Future Outlook

Premier Energies aims to build a 10 gigawatt integrated manufacturing capacity, 12 gigawatt battery energy storage systems (BESS), and 3 gigawatt inverter capacity by FY28. The company expects BESS and inverter manufacturing to begin contributing revenue from FY27.

Market Position and Strategy

Chiranjeev Singh Saluja, Managing Director of Premier Energies, emphasized the company's strong competitive position, stating, "We believe that we enjoy a strong competitive position on all parameters including scale, advanced technology, proven track record, and bankability."

The company remains focused on the Indian market, with less than 1% of its current order book coming from the United States. Premier Energies has put its US expansion plans on hold pending policy clarity.

Industry Outlook

The management expressed optimism about the solar industry's growth trajectory, citing a recent BNEF report that projects annual solar deployment in India to increase from the present 40 gigawatts to 125 gigawatts per annum in the next 10 years.

Conclusion

As Premier Energies approaches its first anniversary as a listed company, it remains committed to building long-term value and delivering sustainable, profitable growth. With its strong financial performance, expanding manufacturing capabilities, and focus on advanced technologies, Premier Energies appears well-positioned to capitalize on India's growing clean energy market.

Historical Stock Returns for Premier Energies

1 Day5 Days1 Month6 Months1 Year5 Years
-1.28%-0.43%-11.05%+2.55%+17.43%+17.43%
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