Premier Energies bags $19.95 million contract in West Africa; here is how stock is performing

Under the order, Premier Energies will install 750 rooftop solar systems at key socio-community facilities, including district police stations, educational institutions, health centres, and special border surveillance units, along with over 4,400 high-efficiency solar streetlights and 650 solar water heaters.

These projects are part of a national initiative by the Government of Benin to expand access to reliable, sustainable clean energy. Implementation will be carried out by Premier Energies in collaboration with the General Directorate of Energy Planning and Rural Electrification, under the Ministry of Energy, Water and Mines, Republic of Benin.

The project is financed through a line of credit from the Export-Import Bank of India (EXIM Bank) and the ECOWAS Bank for Investment and Development (EBID).

Commenting on the development, Chiranjeev Saluja, Managing Director & CEO, Premier Energies, said, “These projects are expected to enhance community safety, healthcare services, educational infrastructure and overall energy sustainability in the Republic of Benin. The contract award represents a strong endorsement of our operational capability and global competitiveness.”

Following the development, Premier Energies shares were trading lower on Monday. At 1:30 PM, the stock was trading at ₹1,013.30 apiece on the National Stock Exchange, falling 1.46%. It has dropped 2% to its intraday low of ₹1,007.65 per share.

The stock has lost 1.3% over the week but has gained 2% over the month. It fell 1.4% over three months and 24% on a year-to-date basis.

While the scrip hit a 52-week low of ₹774.05 per equity share on April 7, 2025, it reached a high of ₹1,388 on December 17, 2024.

Premier Energies has a total market capitalisation of ₹45,735.57 crore as of September 29, 2025, according to data on the NSE.

The Telangana-headquartered company reported a 55.32% year-on-year (YoY) surge in its consolidated net profit to ₹307.79 crore in the June quarter of the 2025-26 financial year (Q1FY26). In the corresponding period of the previous year, its profit was at ₹198.16 crore.

Premier Energies posted a top-line growth of 9.86% YoY to ₹1,820.74 crore during the reporting quarter, as against ₹1,657.37 crore in the first quarter of FY25.

Premier Energies, one of India’s largest vertically integrated solar cell and module manufacturers with over 30 years of industry leadership, is renowned for its innovation, quality, and sustainability and remains committed to environmental stewardship and global development, especially in emerging markets.