Analysts/Institutional Investor Meet/Con. Call Updates

Ref. No: PEL 73/2026-27 Date: November 11, 2026 To To The Secretary The Manager, BSE Limited Listing Department Phiroze Jeejeebhoy Towers, National Stock Exchange of India Limited Dalal Street, Exchange Plaza, C-1, G Block, Bandra-Kurla Mumbai – 400001 Complex, Bandra (East), Mumbai – 400 051 Scrip Code: 544238 Trading Symbol: PREMIERENE Dear Sir/Madam, Sub: Transcript of Earnings call on Financial Results for the quarter and half year ended September 30, 2026 (Q2 FY27) Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby enclose the transcript of the Earnings Call on the Company's Financial Results for the quarter and half year ended September 30, 2026 (Q2 FY27). This is for your information and records. Thanking you, Yours truly, For Premier Energies Limited Hitesh Kumar Jain Company Secretary & Compliance Officer “Premier Energies Limited Q2 FY27 Earnings Conference Call” November 05, 2026 MANAGEMENT: MR. CHIRANJEEV SINGH SALUJA – MANAGING DIRECTOR – PREMIER ENERGIES LIMITED MR. SUDHIR MOOLA – CHIEF STRATEGY OFFICER – PREMIER ENERGIES LIMITED MR. NAND KISHORE KHANDELWAL – CHIEF FINANCIAL OFFICER – PREMIER ENERGIES LIMITED MR. VINAY RUSTAGI – CHIEF BUSINESS OFFICER – PREMIER ENERGIES LIMITED Page 1 of 19 Premier Energies Limited November 05, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Premier Energies Limited Q2 FY27 Earnings Conference Call hosted by ICICI Securities. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star, then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Mohit Kumar from ICICI Securities. Thank you, and over to you, sir. Mohit Kumar: Thank you, Alaric. Good morning. On behalf of ICICI Securities, I welcome you all to Premier Energies Q2 FY27 earnings conference call. Today, we have with us from the management, Mr. Chiranjeev Singh Saluja, Managing Director, Mr. Nand Kishore Khandelwal, Chief Financial Officer, Mr. Vinay Rustagi, Chief Business Officer, and Mr. Sudhir Moola, Chief Strategy Officer. Now, I would like to hand over the floor to the management for the opening remarks, post which we will open the floor for Q&A. Thank you, and over to you, sir. Chiranjeev Saluja: Thank you, Mohit. Am I audible? Mohit Kumar: Yes, sir, you are. Please go ahead. Chiranjeev Saluja: Good morning, everyone. Thank you for joining us today for our Q2 earnings call. I am Chiranjeev Saluja, Managing Director at Premier Energies, and I am joined today by my colleagues, Mr. N.K. Khandelwal, Group CFO, Sudhir Reddy, Director, and Vinay Rustagi, Chief Business Officer. The company has reported another sterling quarter with total revenue increasing by 38.2% Y-o-Y to INR2,656 crores on a consol basis. EBITDA and PAT have grown by 17.8% and 30.8% Y-o-Y to INR760 crores and INR462 crores respectively. EBITDA and PAT margins in the solar manufacturing business came in at 29.3% and 17.9% respectively. The PAT margin has moderated slightly because of increase in depreciation and reduction in other income. Transcon, our subsidiary, has reported another good quarter with revenue and PAT of INR122 crores and INR18 crores respectively. EBITDA and PAT margins came in at 15% and 8%. Amongst key business update, our 7 GW TOPCon cell line has been commissioned. Trial runs are currently underway, and commercial production is expected to start later this month. Our operational cell plants delivered a record capacity utilization in the quarter, showcasing our all- round operational excellence. A highlight of the quarter was new order wins totaling INR4,001 crores for cells and modules in a highly competitive market, taking our total order book to INR16,260 crores. The transformer business also saw a healthy intake, reflecting higher capacities, taking the total order book in the transformer company to INR330 crores. I am happy to update that all our expansion initiatives, including battery energy storage, are on track. Solar capacity addition has been steady throughout this year, with growth in PM Surya Ghar Yojana compensating for slight weakness in the utility scale segment. We expect project commissioning progress to accelerate over the next six months, taking the annual capacity addition to around 50 GW AC territory, surpassing last year's numbers. More Page 2 of 19 Premier Energies Limited November 05, 2026 importantly, the long-term outlook for the sector remains compelling, with the government looking to reduce dependence on fossil fuel imports and fighting climate change. Recent policy announcements on bolstering transmission and storage capacity additions are expected to unlock the next cycle of growth for the solar sector. Commodity price inflation in wake of the Middle East war has hit the solar sector with material increases in prices of key raw materials and delay in delivery timelines. However, I am pleased to say that we are navigating this period successfully with careful supply chain management and investments in scale and technology. As new capacity ramp up over the next few quarters, we expect a major step up in financial performance of the company. At the same time, we are also evaluating several new primary and secondary growth opportunities. Our balance sheet strength, as reflected in low cost of capital and an A+ credit rating, is a key pillar of our business competitiveness. We remain focused on disciplined growth, leveraging our key operational strength alongside prudent risk allocation. Thank you. We are now open for questions. Moderator: Thank you. We will now begin the question- and- answer session. The first question comes from the line of Shubham Borade with ICICI Securities. Please go ahead. Shubham Borade: Yes. Hi. Thank you for the opportunity, and congratulations on a good set of numbers. I have two questions. First being, where are we in battery manufacturing, and what we will be able to localize in the near term to achieve the 40% DCR requirement? Second would be, what is the status of our approval of new 7 GW capacity from MNRE, and has it stabilized? Vinay Rustagi: Sorry, Shubham, we can't hear you. Can you please repeat the second question again? Chiranjeev Saluja: Yes, the first question was clear. Just repeat the second question. Shubham Borade: Yes, sure. What is the status of our approval of new 7 GW capacity from MNRE, and has it stabilized? I hope I was audible. Chiranjeev Saluja: Sure. Okay, I'll let Sudhir Reddy answer the first question on our battery manufacturing plans and localization plans, and the second question, I will take it after him. Sudhir. Sudhir Moola: Thank you. On the Battery Energy Storage System, we expect to operationalize the Battery Energy Storage System in Q2 2027. With respect to localization, we are working out on localizing the container manufacturing. We are trying to localize some of the fire suppression systems inside it to achieve the 40% localization that is being asked by the government for the various subsidy programs. Also, on the software part also, we have tied up for providing Indian- made EMS for the Battery Energy Storage System. So that's our plan on the Battery Energy Storage. I hope that's clear. Chiranjeev Saluja: Yes. So our plan is to do cell to pack and pack to container. This is what the manufacturing plant, what we are setting up. On your second question on 7 GW cell line at Naidupeta, we have already made our application to the National Institute of Solar Energy for the inspection of our plant and to get it enrolled in the ALMM. We are expecting the inspection to happen anytime in the third Page 3 of 19 Premier Energies Limited November 05, 2026 week of November. The plant is, as we already said, is already [Showing first 8,000 characters — download PDF for full document]