Earnings Call Transcript

Ref. No: PEL 42/2026-27 Date: August 13, 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 ended June 30, 2026 (Q1 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 ended June 30, 2026 (Q1 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 Q1 FY27 Earnings Conference Call” August 07, 2026 MANAGEMENT: MR. CHIRANJEEV SINGH SALUJA – MANAGING DIRECTOR – PREMIER ENERGIES LIMITED MR. NAND KISHORE KHANDELWAL – CHIEF FINANCIAL OFFICER – PREMIER ENERGIES LIMITED MR. VINAY RUSTAGI – CHIEF BUSINESS OFFICER – PREMIER ENERGIES LIMITED MODERATOR: MOHIT KUMAR – ICICI SECURITIES Page 1 of 20 Premier Energies Limited August 07, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Premier Energies Limited Q1 FY27 Earnings Call. 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 touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Mohit Kumar. Thank you, and over to you, sir. Mohit Kumar: Thank you, Atharva. Good morning. On behalf of ICICI Securities, I welcome you all to the Q1 FY27 earnings call of Premier Energies Limited. Today we have with us from the management, Mr. Chiranjeev Singh Saluja, Managing Director; Mr. Nand Kishore Khandelwal, Chief Financial Officer; and Mr. Vinay Rustagi, Chief Business Officer. We will begin with the opening remarks from the management, which will be followed by Q&A. Thank you, and over to you, sir. Chiranjeev Singh Saluja: Thank you, Mohit. Am I audible? Moderator: Yes, sir, you may go ahead. Chiranjeev Singh Saluja: All right. Good morning, everyone. Thank you for joining us today for our Q1 earnings call. I am Chiranjeev Saluja, Managing Director at Premier Energies, and I am joined today by my colleagues, Nand Kishore Khandelwal, Group CFO; Vinay Rustagi, Chief Business Officer. With the ongoing wars, commodity price inflation, and shifting trade flows, the environment around us has been quite unpredictable. But I am pleased to say that we are navigating this period successfully with disciplined execution, combined with investments in scale, technology, and people. The company has reported another record quarter of revenue and profit growth. Our total revenue has increased 34% year-on-year to INR2,508 crores. EBITDA and PAT have grown by 27% and 53% to INR759 crores and INR472 crores, respectively. The profitability margins have been largely steady at 30.3% and 18.8%, respectively. These results include consolidation of our 51% stake in Transcon. The company reported excellent results in the quarter, with a revenue and PAT of INR110 crores and INR18 crores, respectively. EBITDA and PAT margins in the transformer company came in at 27% and 17%, respectively. Amongst key business updates, our 5.6 gigawatt fully automated solar module plant at Seetharampur is operational. The 7 gigawatt TOPCon cell line is in advanced stages of commissioning, with trial runs expected to start later this month. Our operational cell plants in Telangana delivered a record capacity utilization of 92%, showcasing our all-round excellence in plant operations. We won new orders totalling INR3,011 crores for cells and modules, taking our total order book to INR15,000 crores, including transformers. The overall business outlook for solar sector continues to be positive and encouraging. Power demand this year has been exceptionally strong. Page 2 of 20 Premier Energies Limited August 07, 2026 Solar demand has been strong, too, with nearly 12 gigawatt of capacity addition in quarter one itself, with great momentum in the PM Surya Ghar Yojana and KUSUM schemes. On the enabling resolution taken by the company, we would like to clarify that we are in a hyper- growth phase of this industry. And during this phase, it is important that we have flexibility to expedite organic growth path or capitalize on any inorganic growth opportunities, which may help maximize shareholder wealth. As a result, we will continue to take such enabling provisions -- resolutions every year. As we speak, I can confirm that there is no concrete plan to raise any primary capital in the near future. Over the next few quarters, as new cell and transformer capacities come online, a major step is expected on the back of operating leverage, both in operations and financial performance of the company. This will help us maintain industry leadership position in scale, technology, cost of manufacturing, and continue to deliver industry-leading margins. We are very confident about future prospects of the company. Thank you. We are now open for questions. Moderator: Thank you very much. We will now begin with the question-and-answer session. The first question comes from the line of Apoorva Bahadur from IIFL Capital. Please go ahead. Apoorva Bahadur: Hi, sir. Thank you for the opportunity and congratulations on a strong set of results. I must say the presentation and data quality is very good, a lot of details, so extremely helpful. Sir, I just want to pick your brain on a couple of things. One is on the data that you provided in the presentation on rooftop and PM KUSUM demand. How much should we assume or estimate the DC overloading for PM KUSUM? Vinay Rustagi: Hi, Apoorva. This is Vinay here. Apoorva Bahadur: Hi, sir. Vinay Rustagi: Yes. So, Apoorva, hi. So in KUSUM, you know, there are obviously three components as you know, A, B, and C. Most of the installations are coming in B and C. In B, which is the solar pump part, the overloading is basically 1. But in KUSUM C, where the basically most of the projects are ground-mounted projects in sizes between 2 to 10 megawatts, sometimes larger, the overloading is between 1.3 and 1.5 as we usually see. So on a blended basis, I would expect the overloading to be about 1.2 to 1.25. Apoorva Bahadur: Understood. So this 2 gigawatt of demand in this quarter would be about 2.5 gigawatt for modules? Vinay Rustagi: That's right, yes. Apoorva Bahadur: Roughly so, total demand for both these segments would be around 6 gigawatt on a quarterly basis. How do we see this for the remaining nine months, sir? Vinay Rustagi: So, I think there is actually great momentum in both the schemes. As you can see, and that is what we're trying to show you in these charts, in Surya Ghar Yojana, there is a kind of month- on-month increase and we're expecting, you know, the average over the next nine months to be Page 3 of 20 Premier Energies Limited August 07, 2026 about 1.2 to 1.3 gigawatts. In KUSUM, you know, the government has already given a deadline of March '27 for implementation of all the ongoing projects. So, actually we are expecting a huge step up in the KUSUM scheme. And I would expect the installation over the next nine months to be something between 6 to 8, possibly higher than 8 gigawatts. Apoorva Bahadur: So roughly around, say, 12 to 13 gigawatts in the rooftop space and maybe around 8 gigawatts in this. So roughly, roughly around 20 gigawatts for the next nine months? Vinay Rustagi: Yes. So when I said 6 to 8, I was talking about the AC numbers. So in DC terms, you know, that would be about. Apoorva Bahadur: Okay, okay. So it'll be around 23 to [Showing first 8,000 characters — download PDF for full document]