Both the companies brought their initial public offerings (IPOs) last year and received heightened investors interest.
Waaree Energies share price opened higher at Rs 3619.95 per share on BSE on Thursday. It was trading 0.91% lower at Rs 3570.75 per share with a market capitalisation of Rs 1,02,581.65 at 10:08 am. Its peer, Premier Energies shares were trading 0.83% lower at Rs 1068.9 per share on BSE at the same time.
For investors who are willing to diversify their portfolio by adding green energy stocks, here's a comparison of Waaree Energies and Premier Energies, two of the most promising names in the green energy segment.
Waaree Energies vs Premier Energies: Understanding Business First!
While both companies operate in the solar industry, their business model and operations vary. Waaree Energies Limited is a Mumbai-based company and India's largest solar photovoltaic module manufacturer. It also offers green energy solutions to its clients. While Waaree's business model is more product-centric, Premier Energies operates as an integrated manufacturer of solar cells and modules. The Hyderabad-based company also offers (Engineering, Procurement, Construction) EPC services.
Waaree is not only a leading domestic player in its segment but also has a healthy export base, especially in the US. Whereas, Premier Energies' business is primarily focused in India, and expanding overseas.
Waaree Energies vs Premier Energies: Order Book and Revenue
Waaree Energies recently reported a strong pending order book of nearly 25 GW till the first quarter of the financial year 2025-26. The geographical order book includes a split of 41% India and 59% overseas.
"This includes ~3.16GW of EPC orders under Waaree Renewable Technologies Ltd. (WRTL). The domestic orderbook benefits from DCR-linked schemes, while the U.S. pipeline (~3.75GW) extends visibility until FY30 under IRA-backed projects," noted Yes Securities in its report.
Premier Energies' order book is of 5.5GW (Rs86bn), and it provides 12-15 months visibility. The (~100% domestic mix and >90% pricing pass-throughs ensure revenue resilience," noted Yes Securities in another report.
Waaree Energies vs Premier Energies: Comparison of Valuations
For Waaree Energies, brokerage Yes Securities indicated that its Revenue/EBITDA/PAT will record a ~33/45/46% CAGR over FY25- 28e led by a 29.4% CAGR in volumes for the same span.
For Premier Energies, the brokerage noted, "We believe PEL's Revenue/EBITDA/PAT to record a ~39/39/42% CAGR over FY25- 28e led by a 42.8% CAGR in volumes for the same period."
Waaree Energies Share Price Target
Waaree Energies received a 'Buy' rating from Yes Securities. The brokerage indicated a 28.8% potential upside in its valuation. "Given the robust growth, we initiate coverage with a BUY and a TP of Rs 4,610, based on 22x FY28e (implied PEG of ~0.5x)," noted the brokerage in its report. The stock valuation has increased by nearly 28% since the beginning of the year 2025.
Premier Energies Share Price Target
Premier Energies also received a 'Buy' rating from the brokerage. "We initiate coverage with a BUY and a TP of R 1,310, based on 22x FY28e (implied PEG of 0.5x) as the growth remains robust. The stock is currently trading at a PER of 22.2x/17.7x FY27/28e and at an EV/EBITDA of 13.2x/10.5x FY27/28e."
Waaree Energies vs Premier Energies: Key Risks
Both the renewable energy companies are prone to risks like oversupplies, project delays, policy and trade uncertainties, technological changes and disruptions, raw material price volatility, etc.