Premier Energies Limited has received a one-notch credit rating upgrade for its long-term credit rating to A+/Positive from A/Positive from CRISIL Ratings Limited. The company’s short-term rating stands unchanged at A1.
The rating upgrade reflects Premier Energies’ strengthening business and financial profile, supported by its robust operating performance, disciplined execution and expansion of integrated manufacturing capabilities.
The upgrade follows a strong start to FY27. In Q1 FY27, Premier Energies reported total revenue of ₹25,076 million, up 34.1% YoY; EBITDA of ₹7,594 million, up 27.2% YoY with a margin of 30.3%; and PAT of ₹4,719 million, up 53.3% YoY. During the quarter, the Company produced 844 MW of solar cells, 953 MW of solar modules and 570 MVA of transformers.
The Company also secured orders worth ₹3,011 crore during Q1 FY27, comprising 1,846 MW of solar cells and modules, with deliveries scheduled across FY27 and FY28, providing strong business visibility. The orders came from a mix of leading power producers, module manufacturers, EPC companies and other customers.
Commenting on the rating upgrade, Mr. Nand Kishore Khandelwal, Group CFO, Premier Energies Limited, said: “The credit rating upgrade reflects the continued strengthening of Premier Energies’ business fundamentals and our disciplined approach to growth. As we expand our integrated manufacturing capabilities, our focus remains on technology leadership, operational excellence and prudent financial management. We remain committed to building a globally competitive clean-energy manufacturing platform in India and contributing to the country’s Make in India and energy security objectives.”
Premier Energies recently inaugurated its 5.6 GW Seetharampur module manufacturing facility, one of India’s most advanced module manufacturing plants, equipped with automation capable of producing four modules every 16 seconds. The Company is also making significant progress on its 7 GW solar cell manufacturing facility at Naidupeta, further strengthening its domestic manufacturing capabilities and integrated solar manufacturing footprint.
