Shares of Premier Energies surged as much as 5% on June 10, today, to touch its intraday high of ₹1,114.40 apiece on the National Stock Exchange after shares worth ₹2,629 crore changed hands via block deal. As many as 2.5 crore shares, or 5.5% stake, of the solar module manufacturer changed hands in the block deal that took place in the pre-open window today.
The large deal took place at an average price of ₹1,052 per share. According to a report by CNBC-TV18, South Asia Growth Fund II had planned to offload 2.5 crore shares via the block deal at a floor price set at ₹1,051 per share, over 1% discount to Monday’s closing price.
As of March 2025, South Asia Growth Fund II, which is a public shareholder, held 11% stake in the company, according to the data available on the BSE website. Promoters and promoter groups of the company hold over 64% stake in the company as of the end of the previous fiscal year.
As part of its Mission 2028, the company has raised its capacity targets with an aim to become a 10 GW integrated end-to-end solar manufacturing player and if executed, this will make the company the second largest player by FY28 after Waaree, Kotak Securities had said in its earlier report. The company expects to incur around ₹125bn over the next three years, the brokerage had said.
Premier Energies reported a 167% on year surge in net profit to ₹277.8 crore in the fourth quarter of FY25, up from ₹103.9 crore a year ago. For the full financial year, net profit rose sharply to ₹937 crore, marking a 307% increase from the previous year.
The company’s EBITDA for the March quarter jumped 187% to ₹528.6 crore from ₹184.5 crore in the same quarter of the previous financial year. Its EBITDA margin also improved significantly to 32.6%, compared to 16.4% a year ago.
