Premier Energies Ltd (PREMIERENE) Q1 FY27 Results Analysis: PAT Jumps 50%, Revenue Grows 35%

Premier Energies Ltd's Q1 FY27 numbers came in strong, with revenue of Rs. 2,462.59 Cr (+35.20% YoY) and PAT growth of +50.40% YoY. Here's a quick read of what worked, what to watch, and what management said.

Quarter Snapshot

Premier Energies delivered record quarterly revenue of Rs.2,462.59 Cr (+35.2% YoY) and PAT growth of 50.4% YoY, driven by strong order book conversion and the new Transcon subsidiary. However, EBITDA margin compressed 110 bps YoY to 29.03% due to raw material cost inflation. The company is executing on a massive capex plan (Rs.5,100 Cr in FY27) with new cell and module capacities coming online, while diversifying into power T&D and battery storage. Promoter stake sale of 5.33% is a minor overhang.

Key Investment Insights

Key Positives

• Revenue of Rs.2,462.59 Cr, highest ever, up 35.2% YoY and 10.4% QoQ.
• PAT-to-owners grew 50.4% YoY to Rs.463.07 Cr, with EPS up 53% to Rs.10.45.
• Solar segment EBIT margin improved 376 bps YoY to 25.85%.
• New Power T&D segment (Transcon) added Rs.106.47 Cr revenue at 22.62% EBIT margin in first quarter.
• 4.8 GW TOPCon cell line commissioned; 5.6 GW module plant inaugurated post-quarter.
• Battery storage subsidiary incorporated for BESS and battery cells.

Risk Factors

• Raw material costs as % of revenue rose from 58.7% to 65.1%, compressing EBITDA margin by 110 bps YoY to 29.03%.
• Promoters sold 5.33% stake, reducing holding from 63.94% to 58.61%.
• Finance costs increased 19.3% YoY to Rs.43.93 Cr due to higher debt for capex.
• Effective tax rate stable but cash tax rate higher at 26.34% vs 23.93% ETR.