ALFA Finder
The call has ended.
Key takeaways
Revenue and EBITDA more than doubled on volume-led growth, but margin slipped to 17.1% and inventory rose to ₹1,230 Cr. Management declined to give guidance and leaned on long-term narrative.
| Revenue growth | Q2 revenue ₹1,307 Cr, +130% YoY; H1 ₹2,652 Cr, +127%. |
|---|---|
| Margins | Q2 EBITDA margin 17.1% vs 18.1% YoY; mgmt calls headwinds temporary. |
| Demand visibility | Subsidy-linked; PM Surya Ghar 2.0 unclear; over 50% revenue subsidy-linked. |
| Management confidence | Balanced-to-defensive: declined revenue guidance, skipped H2 question, cites uncertainty. |
Growth
Q2 revenue rose 130% to ₹1,307 Cr and EBITDA 116% to ₹223 Cr, so margin compressed about 100 bps. Growth is volume-led; no price split was disclosed.
Outlook
No guidance given; 1.2 GW TOPCon cells on track for Q1 FY28; Li-ion capacity to 3.5 GWh next quarter.
Risks
Inventory ₹1,230 Cr (up from ₹910 Cr); subsidy-policy and DCR cell-shortage uncertainty; ₹143 Cr pre-tax fire loss pending insurance.
Summary by ALFA Finder, written with AI assistance from the earnings call transcript the company filed, published . Open it on ALFA Filings ›
The results behind this call
Fujiyama Power Systems Q2 FY27 Results: Net Profit ₹57.8 Cr, Down 8.1% YoY
Fujiyama Power Systems Ltd reported revenue from operations of ₹1,346 Cr (+137.0% YoY) and net profit of ₹57.8 Cr (-8.1% YoY) for Q2 FY27.
- Key figure
- Net profit ₹57.8 Cr · -8.1% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Management raised full-year revenue growth guidance from 50% to 70% for FY27, targeting ₹5,000 Cr revenue.
Growth they described
Revenue grew 125% YoY; EBITDA increased 140% YoY. Growth is primarily volume-led via massive dealer expansion.
Call details
| Company | Fujiyama Power Systems Ltd |
|---|---|
| NSE symbol | UTLSOLAR |
| ISIN | INE12UR01024 |
| Call | Q2 FY27 earnings call |
| Date | Tuesday, 10 November 2026 |
| Time | 12:00 PM IST |
Fujiyama Power Systems Ltd: key numbers
- Share price
- ₹356.65
- Market cap
- ₹10,960 Cr
- Revenue (annual)
- ₹2,655 Cr
- Net profit (annual)
- ₹304.1 Cr
- P/E (TTM)
- 30.1×Sector 43.9×
- Promoter holding
- 86.63%+0.00% QoQ
- FII holding
- 1.14%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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