Premier Energies books ₹4,001 crore orders in Q2 FY27

Premier Energies Limited

booked new orders worth ₹4,001 crore in Q2 FY27. The orders cover 2,308 MW of solar cell and module supply. What happened: On 21 September 2026 the company commissioned a 7 GW TOPCon solar cell plant at Naidupeta, Andhra Pradesh. The capex was ₹3,293 crore, which is about ₹470 crore per GW. Cell capacity is now 10.6 GW and module capacity is 11.1 GW. The company describes the plant as India’s largest solar cell facility. Why it matters: Cell capacity is now close to module capacity, at about 95% by my arithmetic. A module maker that makes its own cells depends less on outside cell supply. The new plant needs orders to run at a good utilisation rate. The ₹4,001 crore in orders is a first step in that direction. My view: Orders and capacity both look good, but neither is profit yet. A new 7 GW line takes time to reach stable yields, and idle capacity is costly. My data does not split the orders between cells and modules, nor does it give the order book total, so I cannot say how much of the new capacity they fill. The company still imports silicon wafers and ingots, so margins depend on Chinese supply and prices. The ingot and wafer unit is only planned. Policy such as ALMM supports domestic cells today, and any easing would hit pricing. What I am watching: Utilisation of the Naidupeta plant, the margin in the next quarterly results, and progress on the ingot and wafer project. Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations.