Premier Energies Books ₹4,001 Crore of Orders in Q2 FY27 as Cell Capacity Scales to 10.6 GW

Hyderabad-based Premier Energies Limited (NSE: PREMIERENE, BSE: 544238) has secured new orders worth ₹4,001 crore in the July–September quarter of FY 2026-27 (Q2 FY27). The company disclosed the orders to the stock exchanges on 9 October 2026 under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement comes less than three weeks after the company commissioned India’s largest solar cell plant. It is also the second quarter in a row that order inflows have risen.

What the Q2 FY27 orders cover

According to the company’s official press release, the orders came from major power producers, module manufacturers, EPC companies and other customers. They cover two areas of business:

Supply of solar cells and modules, totalling 2,308 MW
EPC (engineering, procurement and construction) project execution

The ₹4,001 crore figure does not include retail-segment orders. The release does not name customers or say how the value splits between cell, module and EPC orders.

A rising order trajectory

The Q2 figure follows the ₹3,011 crore of orders Premier Energies reported for Q1 FY27 (April–June 2026). Those orders covered 1,846 MW of solar cells and modules, with deliveries scheduled across FY 2027 and FY 2028.

Quarter	Order value	Cell and module volume
Q1 FY27	₹3,011 crore	1,846 MW
Q2 FY27	₹4,001 crore	2,308 MW (plus EPC execution)
H1 FY27 (total)	₹7,012 crore	4,154 MW

From Q1 to Q2, order value rose by roughly 33% and cell-and-module volume by about 25%. The Q2 figure also includes EPC work, so value-per-megawatt comparisons between the two quarters are not like-for-like.

Capacity expansion backing the orders

The order growth is backed by a large manufacturing expansion. In its Q2 release, Premier Energies stated that module capacity has nearly doubled to 11.1 GW and solar cell capacity has risen from 3.6 GW to 10.6 GW. Two plant commissionings in 2026 drove this increase.

Seetharampur, Telangana (March 2026): On 30 March 2026, the company commissioned a 5.6 GW solar module facility producing G12R TOPCon modules with zero-busbar (0BB) design. This took total module capacity to 11.1 GW.

Naidupeta, Andhra Pradesh (September 2026): On 21 September 2026, Premier Energies commissioned a 7 GW N-type TOPCon G12R solar cell facility and began trial runs. According to the company’s filing, the plant:

covers 101 acres and cost ₹3,293 crore to build
can produce approximately 88,000 solar cells per hour
uses AI-based process control and fully automated handling and packing
targets an average cell efficiency of about 25.8% once production stabilises and ramps up
is designed for future TOPCon+ upgrades, including poly-finger metallisation and advanced edge isolation
has a Zero Liquid Discharge (ZLD) system for water recycling and reuse

The company said the plant was completed on time and within budget. It added that the plant makes Premier Energies India’s largest solar cell manufacturer by capacity. Cell capacity (10.6 GW) is now close to module capacity (11.1 GW), so the company can make far more of its modules with its own cells.

Policy context: ALMM List-II for solar cells

The orders arrive as India tightens its domestic-content rules. MNRE’s Approved List of Models and Manufacturers (ALMM) Order, 2019 has two lists: List-I for solar PV modules and List-II for solar PV cells. MNRE issued the first List-II for cells on 31 July 2025 and has updated it regularly. The 12th revision is dated 8 October 2026.

On 25 May 2026, MNRE said there would be no blanket extension of ALMM List-II beyond 1 June 2026, with some protection for investments already made. A later order gave net-metering and open-access projects until 31 December 2026 to commission. Together, these rules push projects covered by ALMM towards modules made with ALMM-listed domestic cells. That benefits companies that make both cells and modules. In its Q1 order release, Premier Energies’ management called timely implementation of ALMM-2 a key enabler of business growth.

Management commentary

On the Q2 orders, Managing Director Chiranjeev Saluja described the growing order book as “a strong validation of our growth strategy and execution ability.” He said Indian solar customers want scale, bankability and the latest technology. He added that, as India’s largest integrated solar manufacturer, the company can serve customers in every market segment.

What comes next

Premier Energies is carrying out a ₹12,500 crore capital expenditure programme over three years. According to its September 2026 filing, the programme will more than double solar manufacturing capacity, add ingot and wafer production, and expand into inverters, transformers and battery energy storage systems. The company’s latest release confirms it is setting up:

10 GW of ingot-wafer manufacturing capacity
12 GWh of battery container manufacturing capacity

Three things to watch in the coming quarters:

how quickly the Naidupeta line reaches its efficiency target
execution of the ₹7,012 crore of orders booked in H1 FY27
progress on the ingot-wafer and battery projects

Conclusion

Premier Energies now has ₹4,001 crore of new orders, cell and module capacity that are nearly matched, and ALMM List-II working in its favour. Together, these strengthen its position among India’s leading integrated solar manufacturers. Its next phase will depend on how efficiently the new capacity stabilises and how quickly the company moves into wafers and energy storage.