Q1 Results Preview: Waaree Energies vs Vikram Solar vs Premier Energies; Which Solar Stock Will Shine in Q1?

Q1 Results Preview: Sustained domestic solar capacity additions, continued demand support from government schemes, and healthy order inflows are likely to benefit solar equipment manufacturers in the first quarter of financial year 2026-27. Key players like Waaree Energies, Vikram Solar and Premier Energies are likely to post healthy revenue growth supported by robust domestic demand and strong order execution, as per PL Capital report.

While capacity ramp-up is expected to support better capacity utilisation, near-term margins are likely to remain under pressure. But which stock out of the three is likely to outperform in terms of profitability, revenue growth and outlook; Waaree Energies Vikram Solar or Premier Energies?

Waaree Energies Q1 Result Preview

Waaree Energies' margins are likely to contract however the company is likely to report robust revenue growth, and EBITDA margin expected at 18.5% due to module price hikes. However, the company is likely to suffer due to higher raw material costs and weaker export realisations, as per PL Capital report.

"Revenue is expected to grow 82.7% YoY, primarily led by 92.7% YoY growth in solar PV modules. EBITDA margins are likely to contract to 18.5% and module sales is expected at 4.2GW. PAT is expected to increase 23.2% YoY."

Vikram Solar Q1 Result Preview

The company's margins are likely to remain under pressure and tis revenue is expected to grow 52.6% on a year-on-year (YoY) basis. However, EBITDA margin are likely to contract 12.3% driven by moderation in module realisations and relatively higher cost base amid a weak pricing environment.

"We expect revenue to grow by 52.6% with estimated module sales of 1.1GW. Margins are expected at 12.4% (-910 bps)in Q1FY27, while PAT is expected to decline by 35.2%."

Premier Energies Q1 Result Preview

Premier Energies growth remains on track and increased product volumes would help in revenue growth. Cell module production is estimated at 0.84 GW/0.93 GW in Q1FY27, with cell revenue expected to contribute a higher share of overall revenue.

"We expect revenue to grow by 36.1% with module production estimated at 0.93GW. Revenue from module/cell to grow by 20.4%/48.3% respectively. PAT to grow by 22.6% and margins are estimated at 28.5%."

Waaree Energies Share Price Target

PL Capital gave 'Accumulate' rating to Waaree Energies with a target price of Rs 226 per share.

Premier Energies Share Price Target

PL Capital maintained an 'Accumulate' rating for Premier Energies with a target price of Rs 1138 per share.

Vikram Solar Share Price Target

PL Capital gave a 'Buy' rating to Vikram Solar with a target price of Rs 3713 per share.

Waaree Energies vs Vikram Solar vs Premier Energies: Mcap, RoE, Share price Trend

Waaree Energies share price closed 0.53% lower at Rs 2826.5 per share on BSE with a market capitalisation of Rs 81,304.65 crore on Wednesday, July 8. The stock has a return on equity (ROE) of 77.79%. It has delivered 8.82% return in 6 months.

Vikram Solar share price ended 0.16% higher at Rs 183.8 per share on BSE with a market capitalisation of Rs 6,660.07 crore. The stock has declined by 22.5% since the beginning of the year 2026.

Premier Energies share price closed 1.79% higher at Rs 1043.7 per share on BSE with a market capitalisation of Rs 47,378.92 crore. The stock has a return on equity (ROE) of 8.3% and it has delivered 23.17% return YTD.