Premier Energies Receives CRISIL Rating Upgrade to A+/Positive, Backed by Strong Solar Manufacturing Growth

Premier Energies Limited has received a one-notch upgrade in its long-term credit rating from A/Positive to A+/Positive from CRISIL Ratings Limited, while its short-term rating remains unchanged at A1.

The upgrade reflects the company’s strengthening business and financial profile, supported by robust operating performance, disciplined project execution and the expansion of its integrated solar manufacturing capabilities.

Premier Energies reported a strong start to FY27, with Q1 FY27 revenue rising 34.1% year-on-year to ₹25,076 million. EBITDA increased 27.2% to ₹7,594 million, with an EBITDA margin of 30.3%, while profit after tax (PAT) rose 53.3% to ₹4,719 million.

During the quarter, the company produced 844 MW of solar cells, 953 MW of solar modules and 570 MVA of transformers. It also secured orders worth ₹3,011 crore, comprising 1,846 MW of solar cell and module orders, with deliveries scheduled across FY27 and FY28.

The orders were secured from a diversified customer base, including power producers, module manufacturers, engineering, procurement and construction (EPC) companies and other customers, providing the company with continued business visibility.

Premier Energies is also expanding its domestic manufacturing footprint. The company recently inaugurated its 5.6 GW Seetharampur module manufacturing facility, which features automated production capabilities and can manufacture four modules every 16 seconds.

In addition, the company is progressing with its 7 GW solar cell manufacturing facility at Naidupeta, further strengthening its integrated solar manufacturing capabilities in India.

Nand Kishore Khandelwal, Group CFO, Premier Energies, said the rating upgrade reflects the continued strengthening of the company’s business fundamentals and its disciplined approach to growth. He added that the company remains focused on technology leadership, operational excellence and prudent financial management as it builds a globally competitive clean-energy manufacturing platform in India.