Premier Energies informed that its wholly owned subsidiary, Premier Energies Global Environment has approved the establishment of a 1 GW solar photovoltaic TOPCon module manufacturing facility.
The facility will be located at EMC Maheeshwaram, Telangana on leasehold premises owned by Telangana Industrial Infrastructure Corporation.The project is expected to be completed by March 2025. This 1 GW module facility is an addition to the planned manufacturing capacity outlined in the offer document, stated the company.
Premier Energies is an integrated manufacturer of solar PV cells and solar modules, including custom-made modules for specific applications.
The companys consolidated net profit surged 289.6% to Rs 205.95 crore in Q2 FY25 as compared with Rs 52.86 crore in Q2 FY24. Net sales stood at Rs 1,527.22 crore, up 120.2% as compared with Rs 693.70 crore in Q2 FY24.
The scrip shed 1.04% to Rs 1,292.70 on the BSE.
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