Buy Premier Energies, target price Rs 1,320: ICICI Securities

ICICI Securities maintains buy call on Premier Energies with a target price of Rs 1,320. The current market price of Premier Energies is Rs 1,027.2. Premier Energies, incorporated in 1995, is a Small Cap company with a market cap of Rs 47259.18 crore, operating in the Engineering sector.

Premier Energies' key products/revenue segments include Solar Cells, Income from EPC,Contracts,& Others, Solar Modules, Other Operating Revenue, Power Supply for the year ending 31-Mar-2024.

Financials

For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 1680.32 crore, down -3.95% from last quarter Total Income of Rs 1749.38 crore and up 47.58% from last year same quarter Total Income of Rs 1138.55 crore. The company has reported net profit after tax of Rs 277.93 crore in the latest quarter.

The company?s top management includes Mr.Surender Pal Singh, Mr.Rohan Mehta, Ms.Priyanka Gulati, Mr.Jasbir Singh Gujral, Mr.Raghunathan Kannan, Mr.Uday Sudhir Pilani, Mr.Abhishek Loonker, Ms.Revathi Rohini Buragadda, Mr.Chiranjeev Singh Saluja, Mr.Sridhar Narayan. Company has Deloitte Haskins & Sells as its auditors. As on 31-03-2025, the company has a total of 45 crore shares outstanding.

Investment Rationale
With the ALMM-1 (approved cell manufacturers) in the fold, the demand for domestically produced cells could rise to 25?30GW annually by FY27. Besides, MNRE is looking to incentivise the indigenisation of ingots and wafers as well. ICICI Securities reiterates BUY on the stock with a revised target price of Rs 1,320, valuing FY27E earnings at 35x.

Promoter/FII Holdings
Promoters held 64.25 per cent stake in the company as of 31-Mar-2025, while FIIs owned 2.95 per cent, DIIs 8.66 per cent.