Multibagger Stock: The shares of solar cell and module manufacturing company Premier Energies Ltd. have been consistently giving great returns to its investors since its listing. The shares of Energies Ltd. have been witnessing a rise since its listing. Last Friday also, this stock rose by 18% and reached a 52-week high of Rs 1190. This stock has increased by 164 percent from its IPO price of Rs 450 per share. Let us tell you that the company’s shares were listed on Tuesday, September 3 with a jump of more than 120 percent.
Now the company has got a new order
Let us tell you that the company has received an order of Rs 215 crore to install 8,085 solar water pumping systems in various districts of Uttar Pradesh. The project provided by the Uttar Pradesh Agriculture Department includes supply, installation and commissioning of the system with a five-year warranty. The company hopes to complete the project by March 2024. The order comes under the PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan) scheme, which aims to promote energy security for farmers and aligns with India’s goal of increasing its non-fossil fuel-based power capacity to 40 percent by 2030.
Financial position of the company
In the June quarter, Premier Energies’ revenue increased to Rs 1,657 crore from Rs 611 crore a year ago. With an EBITDA margin of 22.16 percent, the company’s net profit also increased to Rs 198 crore from Rs 31 crore in the same period last year. Let us tell you that Premier Energies is an integrated solar cell and solar module manufacturer. It has 29 years of experience. Its annual installed capacity for solar cells is two gigawatts and for solar modules is 4.13 gigawatts.
