Shares of Premier Energies came under sharp selling pressure on Friday, hitting a 52-week low of ₹702.55 on the NSE. At 10.13 am, the stock was trading 4 per cent lower at ₹709.90, tracking investor concerns over quarterly performance despite strong consolidated numbers and a healthy order book.

The company reported a steep 65 per cent decline in standalone net profit for the quarter ended 2025, with profit falling to ₹12.58 crore compared with ₹35.9 crore in the corresponding quarter last year.

However, on a consolidated basis, performance was markedly stronger, with profit jumping 53.4 per cent year-on-year to ₹391.62 crore from ₹255.22 crore in the year-ago period. Revenue from operations increased 13 per cent to ₹1,936.5 crore in Q3 FY26 compared to ₹1,713.32 crore in Q3 FY25.

In addition, the board approved the extension of the long-stop date for the acquisition of a 51 per cent equity stake in Ksolare Energy Private Limited.

In a separate stock exchange filing, the company disclosed that its arm Premier Energies Photovoltaic Pvt Ltd has commissioned a 400 MW Solar Photovoltaic Cell (Mono PERC) manufacturing facility at its E-City plant, Maheshwaram, Telangana.

Brokerages remain divided on the stock. Nomura has maintained a neutral rating on Premier Energies with a target price of ₹1,190. The brokerage noted that third-quarter EBITDA was about 7 per cent below its estimates. It highlighted that the company recorded order inflows of ₹24.1 billion in 3QFY26, marginally lower year-on-year and sharply down sequentially.

Despite this, Nomura pointed out that the order book remains healthy at ₹137.2 billion, up sharply on a year-on-year basis, with cells accounting for 54 per cent of the order book compared with 59 per cent in the previous quarter. Nomura added that the stock is currently trading at around 9x and 8x FY27 and FY28 EBITDA, respectively.

UBS, on the other hand, has retained a buy rating on the stock with a target price of ₹1,340. The brokerage said third-quarter revenue and EBITDA grew 13 per cent and 16 per cent year-on-year, and 5 per cent and 6 per cent sequentially, though both metrics missed consensus estimates. UBS highlighted that the order book stood at 9.4 GW versus 9.1 GW in the previous quarter, while third-quarter output was largely stable for modules and improved for cells.

Gross margin and EBITDA margin expanded on a year-on-year basis to 40.2 per cent and 30.6 per cent, respectively, but remained flat sequentially. UBS cautioned that sequentially softer results and flat margins compared with peers such as Waaree could keep near-term pressure on the stock.

Published on January 23, 2026