PREMIERENE · Capital Goods
Premier Energies Ltd. reported revenue of ₹1,837 cr for July to September 2025, +20.3% on the year and +0.9% on the quarter. It is the highest quarterly revenue in the last 10 quarters on record. Over the last four quarters revenue comes to ₹6,992 cr, +39.2% on the four before.
Operating profit (EBITDA) was ₹561 cr, a margin of 30.5%, +558 bps on the year and +44 bps on the quarter. Over the last 8 quarters the margin has ranged from 16.3% to 32.6%, averaging 25.4%. Operating costs grew +11.3% against revenue growth of +20.3%, so more of each rupee of sales reached operating profit.
Net profit was ₹353 cr, +71.6% on the year and +14.8% on the quarter, with earnings per share of ₹7.89. Profit before other income, one-offs and tax grew 53.7%, so 18 points of the headline growth came from outside the core business. The tax rate of 24% is in line with its recent average. Profit over the last four quarters totals ₹1,194 cr, +116.8% on the four before.
Renewable and solar earnings move with module prices, capacity commissioned and, for developers, units generated. The quarterly statements do not carry capacity commissioned, module prices and the order book; those come with the filing read.
On earnings per share of ₹26.54 over the last four quarters, the stock at ₹891.40 trades at 33.6 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
Headline profit grew much faster than core profit. What made up the difference?
Source: Results filing
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹712 cr | ₹1,127 cr | ₹1,657 cr | ₹1,527 cr | ₹1,713 cr | ₹1,621 cr | ₹1,821 cr | ₹1,837 cr | ₹1,936 cr | ₹2,230 cr | ₹2,463 cr | ₹2,632 cr |
| YoY | — | — | +171% | +120% | +141% | +44% | +10% | +20% | +13% | +38% | +35% | +43% |
| EBITDA margin | 17.3% | 16.3% | 21.6% | 25.0% | 30.0% | 32.6% | 30.1% | 30.5% | 30.6% | 30.3% | 29.0% | 28.0% |
| Other income, % of PBT | 3% | 10% | 5% | 9% | 10% | 16% | 12% | 18% | 6% | 7% | 7% | 4% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 29% | 9% | 19% | 25% | 27% | 25% | 24% | 24% | 22% | 24% | 24% | 23% |
| Net profit | ₹43.0 cr | ₹104 cr | ₹198 cr | ₹206 cr | ₹255 cr | ₹278 cr | ₹308 cr | ₹353 cr | ₹392 cr | ₹457 cr | ₹472 cr | ₹462 cr |
| YoY | — | — | +539% | +289% | +493% | +167% | +56% | +72% | +54% | +64% | +53% | +31% |
| Core profit YoY | — | — | +516% | +295% | +434% | +200% | +51% | +54% | +51% | +79% | +63% | +51% |
| EPS | ₹1.64 | ₹3.95 | ₹5.93 | ₹4.57 | ₹5.66 | ₹6.16 | ₹6.83 | ₹7.89 | ₹8.65 | ₹10.08 | ₹10.45 | ₹10.24 |
| Flags | · | 1 | 1 | ✓ | 1 | ✓ | ✓ | 1 | 1 | 1 | 1 | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Premier Energies Ltd. reported revenue of ₹1,837 cr (+20.3% on the year) and net profit of ₹353 cr (+71.6% on the year) for July to September 2025.
Profit before other income, exceptional items and tax moved +53.7% on the year, against +71.6% for reported profit.
1 check raised a question: Headline profit grew much faster than core profit. What made up the difference?
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