Premier Energies Q2 profit climbs 31% as revenue gains 43%

Premier Energies Limited reported consolidated profit of Rs 462.386 crore for the quarter ended September 30, 2026, up 31% from Rs 352.439 crore a year earlier, as revenue from operations increased 43% to Rs 2,631.852 crore. Solar products and related project activities supplied most reported revenue, while power transmission and distribution equipment became a separately disclosed segment.

How did Premier Energies perform in Q2 FY27?

Premier Energies increased consolidated profit by 31% year on year in the second quarter (Q2) of FY27, the financial year ending March 2027, to Rs 462.386 crore. Revenue from operations rose by Rs 794.987 crore from Rs 1,836.865 crore in Q2 FY26, while total income increased 38% to Rs 2,656.044 crore.

Profit before tax rose 29% to Rs 601.270 crore from Rs 467.213 crore, although total expenses increased to Rs 2,054.920 crore from Rs 1,454.117 crore. Materials consumed rose to Rs 1,787.877 crore from Rs 1,270.637 crore, employee-benefit expense reached Rs 63.887 crore from Rs 38.978 crore, and finance costs were Rs 42.200 crore against Rs 32.450 crore.

Premier Energies’ Q2 profit was lower sequentially than Rs 471.918 crore in the quarter ended June 30, 2026, despite revenue rising from Rs 2,462.594 crore. Profit before tax also declined from Rs 620.382 crore, while other income fell to Rs 24.192 crore from Rs 45.043 crore and finance costs reduced to Rs 42.200 crore from Rs 43.934 crore.

Which businesses generated Premier Energies’ Q2 revenue?

Premier Energies’ solar products and related project activities generated Rs 2,509.697 crore of Q2 FY27 segment revenue and Rs 622.708 crore of segment result. The solar business had reported revenue of Rs 1,836.865 crore and segment result of Rs 421.067 crore in Q2 FY26, when the group had one reportable segment.

Power transmission and distribution equipment contributed Rs 124.405 crore of revenue and Rs 14.692 crore of segment result in Q2 FY27. The group reported Rs 2.250 crore of inter-segment revenue elimination, reducing total segment revenue of Rs 2,634.102 crore to consolidated revenue from operations of Rs 2,631.852 crore.

Premier Energies began reporting the equipment business separately after Transcon Ind Limited became a subsidiary effective April 3, 2026. Segment result represents profit before interest and tax without allocation of central administrative costs and other income; the Q2 reconciliation included Rs 18.268 crore of unallocable corporate expenditure, Rs 42.200 crore of finance costs and Rs 24.192 crore of other income.

What do Premier Energies’ first-half results show?

Premier Energies reported Rs 934.304 crore of consolidated profit for the six months ended September 30, 2026, a 41% increase from Rs 661.232 crore in the corresponding prior-year period. Revenue from operations increased 39% to Rs 5,094.446 crore from Rs 3,657.607 crore, while profit before tax rose to Rs 1,221.652 crore from Rs 870.164 crore.

The first-half expense base rose to Rs 3,942.716 crore from Rs 2,920.928 crore, led by materials consumed of Rs 3,137.211 crore against Rs 2,226.302 crore. Other expenses increased to Rs 367.538 crore from Rs 257.740 crore, whereas depreciation and amortisation declined to Rs 212.258 crore from Rs 303.220 crore.

Premier Energies said depreciation in the comparative six months ended September 30, 2025 was higher by Rs 181.554 crore because of a prospective revision to the useful lives of certain solar cell and module manufacturing plant and machinery. In the current first half, solar products and related project activities generated Rs 4,865.823 crore of revenue, while the equipment segment added Rs 230.873 crore.

How much capital is Premier Energies deploying?

Premier Energies had total assets of Rs 12,733.165 crore at September 30, 2026, compared with Rs 10,844.863 crore at March 31, 2026. Capital work-in-progress increased to Rs 2,989.711 crore from Rs 2,143.866 crore, property, plant and equipment rose to Rs 2,428.402 crore from Rs 1,652.624 crore, and inventories grew to Rs 2,968.215 crore from Rs 2,037.350 crore.

Net cash generated from operating activities was Rs 668.725 crore for the six months ended September 30, 2026, compared with Rs 619.682 crore a year earlier. Purchases of property, plant and equipment, including intangible assets, capital work-in-progress and capital advances, were Rs 1,401.757 crore, up from Rs 1,047.123 crore in the prior-year half.

Cash and cash equivalents declined to Rs 403.409 crore at September 30 from Rs 1,466.522 crore at March 31, 2026. Total borrowings were Rs 3,645.308 crore, comprising Rs 2,861.139 crore of non-current borrowings and Rs 784.169 crore of current borrowings; non-current borrowings declined from Rs 2,931.949 crore, while current borrowings rose from Rs 684.858 crore.

What changed in Premier Energies’ group structure?

Premier Energies reached a 51% holding in Transcon during the six months ended September 30, 2026, making it a subsidiary from April 3, 2026. The stated purchase consideration for the 51% stake was up to Rs 500.312 crore, after the group acquired 34.21% on December 26, 2025 for Rs 250.002 crore and paid Rs 250.310 crore for the remaining acquisition in the reported half.

The group recognised Rs 242.214 crore of goodwill on a provisional purchase-price allocation for Transcon, pending the final fair-value determination of acquired assets and liabilities. Balance-sheet goodwill was Rs 242.220 crore at September 30, 2026, compared with Rs 0.006 crore at March 31, 2026.

Premier Energies also incorporated Premier Battery Technologies Private Limited on July 15, 2026 and transferred its holding in Premier Energies Storage Solutions Private Limited to that subsidiary on September 21. The group said the internal reorganisation did not change ultimate beneficial ownership or control, while PE Horizon Pte. Ltd, incorporated in Singapore on September 23, had not commenced operations.

Conclusion

Premier Energies combined a 43% increase in Q2 operating revenue with a 31% rise in consolidated profit, while solar products and related project activities remained the main disclosed earnings source. The Transcon acquisition added an equipment segment, and the balance sheet recorded higher capital work-in-progress, inventories and provisional acquisition goodwill.

The next disclosures to watch include progress on the 4 gigawatt Solar PV TOPCon cell and 4 gigawatt Solar PV TOPCon module manufacturing facility funded from IPO proceeds, for which Rs 968.603 crore had been utilised by September 30, 2026. The Transcon purchase-price allocation remains provisional, and the board approved an interim dividend of Rs 0.50 per equity share on November 4, 2026.