We are pleased to present Company’s 31^st Annual Report and the Company’s audited financial statements for the financial year
ended March 31,2026.

1. Financial Summary and Operational Performance
1.1 Financial Summary and Highlights

(? in Millions, unless otherwise stated)

1.2 Operational Performance

In FY 2026, Premier Energies strengthened its position
as one of India’s leading integrated solar photovoltaic
module manufacturers helped by sustained operational
excellence, capacity expansion, technology innovation
and growing demand for solar products. A diversified
customer base and focus on manufacturing efficiency
enabled the Company to deliver strong operational and
financial performance.

A key milestone during the year was the commissioning
of the 5.6 GW Solar Photovoltaic TOPCon module
manufacturing facility at Seetharampur, Telangana. The
Company’s aggregate annual module manufacturing
capacity now stands at 11.1 GW, significantly enhancing
its ability to serve the growing demand for high-efficiency
solar modules. The highly automated facility incorporates
advanced manufacturing technologies, including AI-
enabled quality control systems and Zero Busbar
-compatible production capabilities, supporting consistent
product quality, reliability and manufacturing efficiency.

The Company also advanced its technology and product
portfolio through the introduction of next-generation solar
solutions. During the year, it launched India’s first Zero
Busbar (0BB) TOPCon Solar Cell, designed to improve
cell efficiency, reduce silver consumption and enhance
module reliability. It has also recently introduced India’s
first All-Black G12R DCR TOPCon solar module, a
premium product for residential and commercial rooftop
applications with high standards of performance and
durability.

Premier Energies’ manufacturing and product capabilities
received global recognition during the year, with the
Company ranked among the Top 25 Global and Top 3
Indian Grade A Solar PV Module Manufacturers in the
Wood Mackenzie Global Solar PV Module Manufacturer
Ranking 2026. The recognition reflects the Company’s
advanced manufacturing capabilities, technological
maturity, financial strength, supply chain resilience and
focus on quality and sustainability.

The Company is constantly striving to build a more
integrated domestic solar manufacturing ecosystem
through investments in capacity, technology and vertical
integration. These initiatives are expected to enhance
supply chain resilience, strengthen competitiveness and
position the Company to meet growing demand for high-
efficiency solar products across domestic and international
markets.

With its continued focus on innovation, manufacturing
excellence, customer-centricity and sustainable growth,
the Company remains well positioned to capture
opportunities arising from India’s accelerating renewable
energy transition and the growing emphasis on domestic
manufacturing.

7. Financial Performance of the Subsidiaries and
Associates

In accordance with the provisions of Section 129(3) of the
Companies Act, 2013 read with Rule 5 of the Companies
(Accounts) Rules, 2014, a statement containing the salient
features of the financial statements of the Company’s
subsidiaries, including their financial performance and
financial position, is annexed in the prescribed Form AOC-
1, which forms part of this Board’s Report as Annexure-I.

Further, pursuant to Rule 8 of the Companies (Accounts)
Rules, 2014, a consolidated summary of the performance
and financial position of the subsidiaries and associates,
along with their contribution to the overall performance of
the Company for the financial year ended March 31,2026,
is also provided in Annexure-I to this Report.

In accordance with Section 136 of the Companies Act,
2013 and the applicable provisions of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations,
2015, the audited standalone and consolidated financial
statements of the Company, along with the financial
statements of its subsidiaries, are available on the
Company’s website athttps://www.premierenergies.com/
investor-relations.

The Members may also inspect the financial statements of
the Company and its subsidiaries at the Registered Office
during business hours, in accordance with applicable
statutory requirements.

8. Material Subsidiaries

During the year under review, Premier Energies Photovoltaic
Private Limited; Premier Energies International Private
Limited; and Premier Energies Global Environment Private
Limited were material subsidiaries of the Company as per
the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015.

The Policy for determining Material Subsidiaries is available
on the Company’s website and can be accessed at
https://www.premierenergies.com/investor-relations.

9. Capital Structure

During the year under review, on July 26, 2025, the
Company has issued and allotted 22,20,000 Equity
Shares of ' 1/- each at a premium of ' 20.29/- per share
to PEL ESOP Trust under the PEL ESOP Scheme 2021.

During the financial year under review, the Company has
not issued any shares by way of bonus issue, rights issue,
preferential allotment, private placement, sweat equity
shares or any other mode. There was no change in the
equity share capital structure of the Company other than
as specifically disclosed in this Report.

10. Corporate Governance and Certificate on
Compliance of Corporate Governance

In compliance with the provisions of Regulation 34(3)
read with Schedule V of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, a separate
Report on Corporate Governance forms an integral part of
this Annual Report.

The certificate issued by the Practicing Company Secretary
confirming compliance with the conditions of Corporate
Governance as stipulated under the SEBI (Listing
Obligations and Disclosure Requirements) Regulations,
2015, is annexed to the Report on Corporate Governance.

11. Internal Financial Control and its Adequacy

The Company has instituted an adequate and effective
Internal Financial Controls (IFC) system over financial
reporting, designed to provide reasonable assurance
regarding the accuracy, reliability, and timeliness of financial
disclosures. These controls ensure that all transactions
are appropriately authorised, recorded, and reported in
accordance with applicable regulatory and internal policy
requirements.

To support operational governance and financial discipline,
the Company has established comprehensive Standard
Operating Procedures (SOPs), policies, and an Authority/
Commercial Manual. These documents guide the conduct
of business across functions and help maintain compliance
with legal and regulatory obligations. Responsibility for
ensuring adherence to these frameworks rests with the
respective functional heads.

The Company continues to leverage SAP S/4HANA
as its ERP platform, with the objective of continuously
strengthening its internal financial control environment.
Enhancements or upgrades to the SAP S/4HANA system
are considered as and when required to align with evolving
business needs and compliance requirements.

All material changes in accounting policies and their
impact on financial statements are subject to validation by
the Statutory Auditors and review by the Audit Committee
prior to implementation and disclosure.

12. Management

a. Directors and Key Managerial Personnel

The Board of Directors of the Company comprises
an optimum combination of Executive Directors
and Independent Directors, who bring with them
a wide range of expertise and experience. The
composition of the Board is in compliance with the
provisions of the Companies Act, 2013 and the SEBI
(Listing Obligations and Disclosure Requirements)
Regulations, 2015.

During the financial year under review, the following
changes occurred in the composition of the Board
of Directors and Key Managerial Personnel of the
Company:

• Ms. Revathi Rohini Buragadda was re-appointed
as Whole-time Director, designated as Executive
Director, for a further term of three years with
effect from March 20, 2025, pursuant to approval
of the members through Postal Ballot dated April
6, 2025.

• Mr. Sudhir Moola was appointed as Whole-time
Director, designated as Executive Director, for
a term of three years from February 3, 2025 to
February 2, 2028, pursuant to approval of the
members through Postal Ballot dated April 6,
2025.

• Mr. Uday Sudhir Pilani was re-appointed as an
Independent Director for a second term of five
consecutive years from March 18, 2025 to March
17, 2030, pursuant to approval of the members
through Postal Ballot dated April 6, 2025.

• Mr. Nishith Hasmukh Mehta was appointed as an
Additional Director in the capacity of Independent
Director with effect from August 12, 2025 and
was subsequently appointed as an Independent
Director for a term of five consecutive years up
to August 11, 2030, pursuant to approval of the
members at the Annual General Meeting held on
September 12, 2025.

• Mr. Jasbir Singh Gujral resigned as an
Independent Director with effect from August
12, 2025, due to his increased professional
commitments.

Subsequent to the close of the financial year,
Mr. Hitesh Kumar Jain was appointed as Company
Secretary and Compliance Officer with effect from
May 16, 2026. Mr. Ravella Sreenivasa Rao resigned
as Company Secretary and Compliance Officer with
effect from May 15, 2026.

In accordance with Section 152 of the Companies
Act, 2013 and the Rules made thereunder,
Mr. Sudhir Moola (DIN: 02185026), Whole-time
Director of the Company, retires by rotation at the
ensuing Annual General Meeting and, being eligible,
has offered himself for re-appointment. The Board
has recommended his re-appointment for approval
of the members.

The Company has received declarations from all the
Independent Directors of the Company confirming that:

• they meet the criteria of independence
prescribed under the Companies Act, 2013

and SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015; and

• they have registered their names in the
Independent Directors’ Databank.

The Company has in place a Nomination and
Remuneration Policy, formulated in accordance
with Section 178 of the Companies Act, 2013 and
Regulation 19 read with Schedule II of the SEBI
(Listing Obligations and Disclosure Requirements)
Regulations, 2015. The Policy provides the framework
for appointment, independence, performance
evaluation and remuneration of Directors, Key
Managerial Personnel and Senior Management.

The Policy is available on the Company’s website at
https://www.premierenergies.com/investor-relations.

b. Meetings of the Board

During the financial year under review, seven
meetings of the Board of Directors were held. The
gap between any two consecutive meetings did not
exceed 120 days. The details of the Board Meetings
and attendance of Directors are provided in the
Corporate Governance Report forming part of this
Annual Report.

c. Committees of the Board

The Board has constituted the Audit Committee,
Nomination and Remuneration Committee,
Stakeholders’ Relationship Committee, Corporate
Social Responsibility Committee, Risk Management
Committee, Capex Committee and Finance Committee
to assist the Board in discharging its responsibilities.
The composition, terms of reference, meetings held
and attendance of the Statutory Committees are
provided in the Corporate Governance Report forming
part of this Annual Report. All the recommendations
made by the Audit Committee during the year were
accepted by the Board.

d. Performance Evaluation

The Company has a policy for performance evaluation
of the Board, its Committees and individual Directors,
including Independent Directors.

In accordance with the applicable provisions of the
Companies Act, 2013, the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 and
the Nomination and Remuneration Policy, the Board
carried out an annual performance evaluation of the
Board, its Committees and individual Directors during
the financial year under review.

The Nomination and Remuneration Committee
evaluated the performance of individual Directors,
while the Board evaluated the performance of the

Board and its Committees. Performance evaluation of
Independent Directors was done by the entire Board,
excluding the Independent Directors being evaluated.

The Independent Directors, at their separate meeting,
evaluated the performance of the Chairperson, Non¬
Independent Directors and the Board as a whole
and assessed the quality, quantity and timeliness of
information flow between the Management and the
Board.

Based on the evaluation, the Board was satisfied
with the overall performance and effectiveness of the
Board, its Committees and individual Directors.

e. Directors’ Responsibility Statement

Pursuant to the provisions of Section 134(3)(c) read
with Section 134(5) of the Companies Act, 2013, the
Board of Directors confirms that:

a) In the preparation of the annual financial
statements of the Company for the financial year
ended March 31, 2026, the applicable Indian
Accounting Standards (Ind AS) prescribed
under Section 133 of the Companies Act, 2013
have been followed and there are no material
departures.

b) The accounting policies have been selected
and applied consistently, and judgments and
estimates have been made that are reasonable
and prudent so as to give a true and fair view of
the state of affairs of the Company as at March
31, 2026, and of the profit of the Company for
the year ended on that date.

c) Proper and sufficient care has been taken
for the maintenance of adequate accounting
records in accordance with the provisions of
the Companies Act, 2013 for safeguarding the
assets of the Company and for preventing and
detecting frauds and other irregularities.

d) The annual financial statements of the Company
have been prepared on a going concern basis.

e) Proper internal financial controls were in place
and such internal financial controls were
adequate and operating effectively.

f) Proper systems have been devised to ensure
compliance with the provisions of all applicable
laws applicable to the Company and such
systems were adequate and operating
effectively.

f. Opinion of the Board on Independent Directors

Pursuant to Rule 8(5)(iiia) of the Companies (Accounts)
Rules, 2014, the Board is of the opinion that the
Independent Directors appointed/re-appointed
during the year possess the requisite integrity,

expertise, experience and proficiency required to
effectively discharge their duties.

13. Particulars of Employees and Related
Disclosures

The disclosures relating to remuneration and other
particulars required under Section 197(12) of the
Companies Act, 2013 read with Rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel)
Rules, 2014 form part of this Report as Annexure II.

Further, a statement containing particulars of employees
as required under Section 197(12) of the Companies Act,
2013 read with Rule 5(2) and Rule 5(3) of the said Rules
forms part of this Report. Having regard to the provisions
of the second proviso to Section 136(1) of the Act and
as advised, the Annual Report excluding the aforesaid
information is being sent to the members of the Company.
Any member interested in obtaining such information may
address their email to secretarial@premierenergies.com.

14. Deposits

During the financial year under review, the Company
has not accepted any deposits within the meaning of
Sections 73 and 74 of the Companies Act, 2013 read with
the Companies (Acceptance of Deposits) Rules, 2014.
Accordingly, there were no deposits remaining unpaid or
unclaimed as at the end of the financial year.

15. Particulars of Loan, Guarantees or Investments

The details of loans granted, investments made,
guarantees given and securities provided by the Company,
as required under Section 186 of the Companies Act,
2013, have been disclosed in the notes to the financial
statements forming part of this Annual Report.

16. Particulars of Contracts or Arrangements with
Related Parties

During the year under review, all contracts/arrangements/
transactions entered into by the Company with related
parties were in the ordinary course of business and on an
arm’s length basis.

There were no transactions which attracted the provisions
of Section 188(1) of the Companies Act, 2013. Accordingly,
the prescribed disclosures in Form No. AOC-2 under
Section 134(3)(h) read with Rule 8(2) of the Companies
(Accounts) Rules, 2014 are not applicable.

The details of related party transactions are disclosed in the
notes to the financial statements forming part of this Annual
Report. The Policy on Related Party Transactions is available
on the Company’s website athttps://www.premierenergies.
com/investor-relations.

17. Corporate Social Responsibility

The Company’s CSR initiatives are undertaken in
accordance with Section 135 of the Companies Act,
2013, the Companies (Corporate Social Responsibility
Policy) Rules, 2014, as amended, and the Company’s
CSR Policy, which is available on the Company’s website
athttps://www.premierenergies.com/investor-relations.

The Annual Report on CSR Activities, containing the
prescribed disclosures, is annexed to this Report as
Annexure III.

18. Conservation of Energy, Technology
Absorption, Foreign Exchange Earnings and
outgo

The information relating to conservation of energy,
technology absorption and foreign exchange earnings
and outgo, as required under Section 134(3)(m) of
the Companies Act, 2013 read with Rule 8(3) of the
Companies (Accounts) Rules, 2014, is annexed to this
Report as Annexure IV.

19. Risk Management

The Company has a risk management framework for
identification, assessment, monitoring and mitigation
of key risks. The Board, based on the review of the
Risk Management Committee, is of the opinion that the
Company’s risk management framework is adequate
and effective. During the year under review, no risks were
identified which, in the opinion of the Board, threaten the
existence of the Company.

The composition and other details of the Risk Management
Committee are provided in the Corporate Governance
Report forming part of this Annual Report. The Risk
Management Policy is available on the Company’s website
athttps://www.premierenergies.com/investor-relations.

20. Vigil Mechanism and Whistle-blower Policy

The Company has established a robust Vigil Mechanism in
accordance with the provisions of Section 177(9) and 177(10)
of the Companies Act, 2013 read with Regulation 22 of the
SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015. The Whistle Blower Policy adopted by
the Company enables directors and employees to report
genuine concerns relating to unethical behaviour, actual
or suspected fraud, or violation of the Company’s Code
of Conduct or Ethics. The Audit Committee oversees the
functioning of the Vigil Mechanism.

The Whistle Blower Policy is available on the Company’s
website athttps://www.premierenergies.com/investor-
relations.

21. Auditors and Auditors’ Report
Statutory Auditors:

M/s. Deloitte Haskins & Sells, Chartered Accountants
(Firm Registration No. 008072S), were appointed as the
Statutory Auditors of the Company for a term of five years
at the 26th Annual General Meeting, from the conclusion
of the said Annual General Meeting until the conclusion of
the 31^st Annual General Meeting.

The Board, on the recommendation of the Audit
Committee, has recommended their re-appointment as
Statutory Auditors for a further term of five years, from the
conclusion of the 31^st Annual General Meeting until the
conclusion of the 36^th Annual General Meeting, subject to
approval of the Members at the ensuing Annual General
Meeting. The Auditors have confirmed their eligibility and
consent to the proposed re-appointment in accordance
with Sections 139 and 141 of the Companies Act, 2013
and the applicable Rules.

The Auditors’ Report on the Standalone and Consolidated
Financial Statements for the financial year ended March 31,
2026 forms part of this Annual Report. The Auditors’ Report
does not contain any qualification, reservation, adverse
remark or disclaimer. The Notes to the financial statements
referred to in the Auditors’ Report are self-explanatory
and do not call for any further comments. Accordingly, no
explanation or comments by the Board are required under
Section 134(3)(f) of the Companies Act, 2013.

Secretarial Auditor

M/s. P.S. Rao & Associates, Practising Company Secretaries,
were appointed as Secretarial Auditors of the Company for
a term of five consecutive years from the conclusion of the
30th Annual General Meeting until the conclusion of the 35th
Annual General Meeting to be held in 2030.

The Secretarial Audit Reports in Form MR-3 for the financial
year ended March 31, 2026, in respect of the Company
and its Material Subsidiaries, as applicable, are annexed
to this Report as Annexures V, VI, VII and VIII. The

Secretarial Audit Reports do not contain any qualification,
reservation, adverse remark or disclaimer. Accordingly, no
explanation or comments by the Board are required under
Section 134(3)(f) of the Companies Act, 2013.

Cost Auditors

In accordance with Section 148 of the Companies Act,
2013 read with the Companies (Cost Records and
Audit) Rules, 2014, the Company has maintained the
prescribed cost records. M/s. S.S. Zanwar & Associates,
Cost Accountants (Firm Registration No. 100283), were
appointed as Cost Auditors for the financial year 2025-26.

The Board has appointed M/s. S.S. Zanwar & Associates
as Cost Auditors for the financial year 2026-27. The

remuneration payable to the Cost Auditors, as approved
by the Board, is proposed for ratification by the Members
at the ensuing Annual General Meeting.

22. Compliance with Secretarial Standards

Pursuant to the provisions of Section 118(10) of the
Companies Act, 2013, the Company has complied
with the Secretarial Standards issued by the Institute of
Company Secretaries of India and approved by the Central
Government, as applicable to the Company during the
year under review.

23. Annual Return

Pursuant to the provisions of Section 92(3) read with
Section 134(3)(a) of the Companies Act, 2013, the Annual
Return of the Company for the financial year ended March
31, 2026 is available on the Company’s website and
can be accessed athttps://www.premierenergies.com/
investor-relations.

24. General Meetings

The 30th Annual General Meeting of the Company was
held on September 12, 2025. The details of the businesses
transacted and resolutions passed at the meeting are
provided in the Corporate Governance Report forming
part of this Annual Report.

During the financial year under review, no Extra-Ordinary
General Meeting was held.

25. Postal Ballot

During the financial year under review, the Company
conducted a Postal Ballot through remote e-voting process
in accordance with the provisions of Section 110 and other
applicable provisions of the Companies Act, 2013 read
with the Companies (Management and Administration)
Rules, 2014, the applicable MCA Circulars and the
SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015.

The Postal Ballot Notice dated March 3, 2025 was issued
to the Members of the Company. The resolutions set out
in the said Notice were approved by the Members with the
requisite majority and the results of the Postal Ballot were
declared on April 8, 2025.

The details of the resolutions passed through the Postal Ballot
and the voting results thereon are provided in the Corporate
Governance Report forming part of this Annual Report.

26. Management Discussion and Analysis Report

Pursuant to Regulation 34(2)(e) read with Schedule V of
the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, the Management Discussion and
Analysis Report, containing a detailed review of the

28. Human Resources Framework

The Company recognizes its employees as a critical
enabler of sustained business performance and long¬
term value creation. The Human Resources strategy for
FY 2025-26 aligned with this principle, with a focused
emphasis on building a future-ready, high-performance,
and agile workforce capable of supporting the Company’s
strategic growth objectives.

During the year, the Company has further strengthened
its people practices through an integrated HR framework
covering talent management, performance governance,
capability building, and employee experience. A structured
talent management approach continues to enable
identification of critical roles, strengthening of internal
talent pipelines, and succession planning across key
positions. Leadership development initiatives for CXO and
senior leadership cohorts have been enhanced to build
strategic capability, execution excellence, and long-term
leadership depth.

A key development during the year has been the
strengthening of the performance management system
through PMS 2.0, designed to institutionalize a more
structured and outcome-driven approach to performance
governance. The framework emphasizes alignment of
individual goals with enterprise priorities, measurable
KRAs, biannual performance checkpoints, and greater
reliance on evidence-based evaluation supported through
digitized HR systems.

Capability building continues to remain a key focus area,
with targeted interventions across functional excellence,
leadership development, and future-ready skills such as
automation, digital transformation, sustainability (ESG),
and advanced manufacturing practices. These initiatives
are supported through structured learning pathways and
strategic external partnerships aimed at strengthening
organizational capability and fostering innovation.

Employee engagement and well-being remain central to the
Company’s people agenda. The organization continues to
invest in structured engagement frameworks, recognition
programs, and employee wellness initiatives, supported by
enhanced health coverage, occupational health support
systems, and improved workplace infrastructure across
locations.

The Company continues to maintain a strong focus
on occupational health and safety, reinforced through
ISO 45001 certification and a robust safety governance
framework. This includes contractor safety compliance,
incident management systems, and preventive safety
practices to ensure a safe and disciplined working
environment across all operations.

Diversity and inclusion remain an integral part of the
organization’s people strategy, with more than 30%
diversity, continued efforts to strengthen workforce
diversity and foster an inclusive workplace that enables
equal opportunity and growth. The Company has also
maintained harmonious industrial relations and ensured full

statutory compliance across all locations during the year,
thereby supporting operational stability and governance
integrity.

Premier Energies continues to be recognized as a ‘Great
Place to Work’, 5th year in a row, reflecting its ongoing
commitment to building an engaged, accountable, and
high-performing organization.

29. Compliance with the Maternity Benefit
Act, 1961

Premier Energies is dedicated to upholding the rights and
welfare of its female employees by ensuring full compliance
with the Maternity Benefit Act, 1961. Key compliance
measures include:

• Providing maternity leave and benefits as stipulated
under the Act.

• Ensuring job protection and non-discrimination during
and after maternity leave.

• Facilitating appropriate workplace accommodations
such as nursing rooms and creche facilities to support
new mothers.

• Offering nursing breaks and other maternity-related
support to promote employee well-being.

• Communicating maternity policies clearly to all
employees and maintaining transparent grievance
redressal mechanisms.

These initiatives reflect our commitment to supporting
women employees throughout their maternity journey and
fostering an inclusive and supportive workplace.

30. Business Responsibility and Sustainability
Report

Pursuant to Regulation 34 of the Securities and Exchange
Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015, the Business
Responsibility and Sustainability Report of the Company
for the Financial Year 2025-26, detailing the initiatives
undertaken by the Company on the environmental, social
and governance (ESG) perspective, forms an integral part
of this Annual Report.

31. Employee Stock Option Schemes

The Company has implemented the Premier Energies
Limited Employee Stock Option Scheme 2021 (PEL
ESOP 2021) and the Premier Energies Limited Employee
Stock Option Scheme 2025 (PEL ESOP Scheme
2025), in accordance with the applicable provisions of
the Companies Act, 2013 and the SEBI (Share Based
Employee Benefits and Sweat Equity) Regulations, 2021
(“SEBI SBEB Regulations”). The Schemes are administered
by the Nomination and Remuneration Committee through
the PEL ESOP Trust.

During the financial year under review, 22,20,000 equity
shares were allotted to the PEL ESOP Trust on July 26,
2025 for implementation of PEL ESOP 2021. PEL ESOP
2021 was ratified by the Members through Postal Ballot
on April 6, 2025, in accordance with Regulation 12 of the
SEBI SBEB Regulations.

PEL ESOP Scheme 2025 was approved by the Board
on February 3, 2025 and by the Members through Postal
Ballot on April 6, 2025. Subsequent to the close of the
financial year, 9,57,142 equity shares were allotted to the
PEL ESOP Trust on April 20, 2026 for implementation of
the Scheme.

The disclosures required under Section 62(1 )(b) of the
Companies Act, 2013 read with Rule 12 of the Companies
(Share Capital and Debentures) Rules, 2014 and
Regulation 14 of the SEBI SBEB Regulations are provided
in Annexure IX to this Report. The detailed terms of
the Schemes are available on the Company’s website at
https://www.premierenergies.com/investor-relations.

32. Capital Expenditure Programs

During the financial year 2025-26, Premier Energies
Limited, through its wholly owned subsidiary Premier
Energies Global Environment Private Limited (PEGEPL),
initiated significant capital expenditure programs aimed
at enhancing its manufacturing capabilities and achieving
full vertical integration across the solar value chain. These
initiatives are strategically aligned with the Company’s
long-term vision of becoming a globally competitive, fully
integrated solar energy solutions provider.

Key capital expenditure highlights include:

• Acquisition of 55 Acres at Seetharampur, Ranga
Reddy District, Telangana: PEGEPL acquired
55 acres of land from Telangana State Industrial
Infrastructure Corporation (TSIIC), located at the
Industrial Park at Industrial Park, Seetharampur, Ranga
Reddy District, Telangana. This site is earmarked
for the establishment of a 6 GWh Battery Energy
Storage Solution (BESS) and 18,000 MT of Aluminium
manufacturing facility.

• Acquisition of 21 Acres at Fabcity, Telangana:

The Company also acquired 21 acres of land from
Telangana Industrial Infrastructure Corporation (TGIIC)
at the Industrial Park in E-ctiy, Fabcity, Ranga Reddy
District, Telangana for the development of a research
& development and centre of excellence for future
technologies. This facility will support the R&D and skill
development for next generation technologies.

33. Technology Advancement

The Company continues to strengthen its technology
leadership by accelerating the transition towards next-

generation cell technologies. During the year, the Company
commissioned its advanced 5.6 GW TOPCon solar
module manufacturing facility, incorporating Zero Busbar
(ZBB) technology to deliver higher efficiency products for
both domestic and international markets. The Company
is also progressing with its large-scale TOPCon solar
cell manufacturing expansion at Naidupeta, which, upon
completion, will significantly enhance its high-efficiency cell
manufacturing capabilities. Leveraging the compatibility
between PERC and TOPCon manufacturing infrastructure,
the Company retains the flexibility to progressively
migrate existing capacities in line with evolving market
demand and technological advancements. Supported
by continuous investments in research and development,
including strategic collaborations with RENA Technologies
(Germany) and BITS Pilani, Hyderabad, the Company
remains well positioned to adopt future technologies
and sustain its competitive advantage in an increasingly
innovation-driven solar industry.

34. Cyber Security

The Company maintains a robust and comprehensive
policy focused on data privacy. We are dedicated to
ensuring the highest level of protection for the personal
data of our employees, vendors, and customers, in strict
accordance with applicable data protection laws and
regulations. During the year under review, there were no
incidents related to cyber security breaches, customer data
privacy violations, or product recalls. Our commitment to
adhering to best practices in security remains unwavering.

Our technology environment is equipped with real-time
security monitoring and incorporates essential controls
at multiple layers, ranging from end-user devices to
our network, applications, and data. This proactive
approach ensures that we remain vigilant and prepared
against potential threats, safeguarding the integrity and
confidentiality of all sensitive information.

35. Disclosures

The Directors state that the following disclosures are not
applicable to the Company, as there were no transactions
or events requiring disclosure in respect thereof:

• No significant or material orders were passed by any
Regulators, Courts or Tribunals which may have an
impact on the going concern status of the Company
or its future operations.

• No fraud has been reported by the Auditors to the
Audit Committee or the Board.

• There has been no change in the nature of business
of the Company.

• No proceedings are pending against the Company
under the Insolvency and Bankruptcy Code, 2016.

• There has been no instance of one-time settlement
with any Bank or Financial Institution.

• There has been no failure to implement any corporate
action within the prescribed timelines.

• The securities of the Company have not been
suspended from trading on any recognised stock
exchange.

• There has been no revision of the financial statements
or the Board’s Report under Section 131 of the
Companies Act, 2013.

36. Appreciation & Acknowledgement

The Directors place on record their appreciation for the
dedication and contribution of the employees towards
the Company’s performance. The Board also expresses
its sincere gratitude to the financial institutions, banks,
Government and regulatory authorities, stock exchanges,
customers, shareholders, suppliers and business
associates for their continued support and cooperation.

For and on behalf of the Board

Premier Energies Limited

Surenderpal Singh Saluja Chiranjeev Singh Saluja

Whole-Time Director Managing Director

DIN: 00664597 DIN: 00664638

Place: Hyderabad

Date: August 06, 2026