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Premier Energies announced that it has incorporated a wholly owned subsidiary, Premier Energies GWC, which will focus on the manufacturing of high-quality silicon ingots and wafers for use in solar cells.
The Ministry of Corporate Affairs, Government of India, issued the Certificate of Incorporation for the new entity on 20 April 2025, according to the company's official exchange filing.
Premier Energies GWC has been established with an authorised share capital of Rs 10 lakh, divided into 1,00,000 equity shares of Rs 10 each. The newly incorporated entity will focus on the manufacturing and processing of silicon ingots and wafers using advanced technologies, a key component in solar cell production.
Premier Energies will hold a 100% equity stake in Premier Energies GWC, making it a wholly owned subsidiary and a related party under regulatory norms.
Premier Energies is an integrated manufacturer of solar PV cells and solar modules, including custom-made modules for specific applications.
The company's consolidated net profit surged to Rs 255.22 crore in Q3 FY25, up 490.51% from Rs 43.22 crore posted in the same quarter last year. Revenue from operations increased 140.47% year on year (YoY) to Rs 1,713.32 crore in the quarter ended 31 December 2024.
The scrip rose 0.69% to currently trade at Rs 974 on the BSE.
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