Premier Energies shares are in focus on Monday after the company received a target price upgrade from Kotak Securities, with the brokerage hiking its target from Rs 790 to Rs 900. This is despite the fact that Kotak Sec has maintained a 'reduce' rating on the counter, citing the need for steady execution and timely stabilisation of cell capacity as key monitorables going forward.
The favourable call from Kotak Securities comes on the back of a strong fourth quarter performance, where Premier Energies reported consolidated revenue of Rs 2,230 crore for Q4, up 37.6% year-on-year from Rs 1,621 crore, while net profit surged 64.4% to Rs 457 crore from Rs 278 crore in the year-ago period.
Margins, however, contracted 230 basis points to 30.3% from 32.6%, a softening that Kotak flagged as a point to watch alongside capacity ramp-up progress.
Premier Energies Q4 FY26 (Consolidated, YoY)
- Revenue up 37.6% at Rs 2,230 crore versus Rs 1,621 crore
- EBITDA margin at 30.3% versus 32.6%
- Net profit up 64.4% at Rs 457 crore versus Rs 278 crore.
On the capacity front, Premier Energies commissioned a new 5.6 GW facility during the quarter, thus taking its total module capacity to 11.1 gigawatt.
The company also announced board approval for raising up to Rs 5,000 crore via a Qualified Institutional Placement and other modes, signalling its intent to fund further growth through fresh capital.
That said, not everything is rosy for Premier Energies. Kotak Securities noted that the acquisition of KSolare's inverter business did not materialise and the commissioning of its battery energy storage systems has also been delayed. These were the key negatives in the fourth quarter.
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