| Revenue growth | 51% YoY for Q1FY27 |
|---|---|
| Margins | EBITDA margin improved to 35% from 34% YoY |
| Order book | 9.9 GW as of Q1FY27; 1.5 GW inflow in quarter |
| Demand visibility | Strong, backed by 9.9 GW order book |
| Management confidence | High, citing record performance and strategic backward integration |
Growth
Revenue grew 51% YoY; EBITDA increased 56% to ₹5,481 mn; PAT rose 103% YoY. EBITDA margins expanded to 35%.
Outlook
Targeting 16.3 GW module and 8.9 GW cell capacity by FY28. Plans for 9 GW ingot/wafer backward integration.
Risks
Domestic cell supply remains tight; potential transition impacts in C&I demand due to ALMM II implementation.
Last quarter's promises, checked
Delivered
- Guided module capacity expansion → Delivered 10.3 GW by March 31, 2026 (= BEAT)
- Guided IPO listing → Completed November 2025 raising ₹2,900 cr (= BEAT)
- Guided debt reduction → Prepaid ₹1,621 cr term loans; Net debt/equity -0.06x (= BEAT)
Partly delivered
- Guided FY26 revenue → Delivered ₹5,049 cr (116% growth) vs earlier scale-up targets (= BEAT)
Earnings Call filed with NSE, NSE: EMMVEE. Summary written with AI assistance from the document.
Emmvee Photovoltaic Power Ltd: key numbers
- Share price
- ₹321.90
- Market cap
- ₹22,287 Cr
- Revenue (annual)
- ₹5,050 Cr
- Net profit (annual)
- ₹1,082 Cr
- P/E (TTM)
- 17.5×Sector 45.9×
- Promoter holding
- 80.03%+0.00% QoQ
- FII holding
- 2.92%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Emmvee Photovoltaic Power Ltd
All →Emmvee Photovoltaic Power Other Announcement
The company confirms that there are no changes to the previously submitted Annual Report 2025-26, as required under Regulation 34(1)(b).
Emmvee Photovoltaic Power Annual General Meeting
Emmvee Photovoltaic Power Limited held its 19th Annual General Meeting on September 25, 2026, transacting ordinary and special business as per the notice.
Emmvee Photovoltaic Power Management Change
Emmvee Photovoltaic Power Ltd appointed Mr. Murugesh C as Company Secretary and Compliance Officer, replacing Mr. Nagaraj Shrinivas Ronad, effective September 22, 2026.
Emmvee Photovoltaic Power Dividend
Emmvee Photovoltaic Power Limited has fixed September 18, 2026, as the record date for the dividend of Re. 1.00 per share for FY 2025-26.
Emmvee Photovoltaic Power Annual Report
Emmvee Photovoltaic Power Limited has submitted its Annual Report for FY 2025-26 and the Notice convening its 19th Annual General Meeting.
Emmvee Photovoltaic Power Annual General Meeting
Emmvee Photovoltaic Power Limited will hold its 19th Annual General Meeting on September 25, 2026, via video conferencing to transact business.