Emmvee Q1 FY27: Revenue surges 51% to ₹1,555.5 crore, PAT more than doubles YoY
Emmvee Photovoltaic Power reported a record Q1 FY27 with revenue up 51% YoY to ₹1,555.5 crore. PAT more than doubled, rising 103% to ₹380.3 crore. EBITDA grew 56% to ₹548.1 crore. The company's order book stands at an all-time high of 9.9 GW. Capacity expansion is on track.
The strong financial results, record margins, substantial order book growth, and significant capacity expansion plans indicate a major positive impact on the company's future prospects and market position.
The company reported record-breaking financial and operational performance, with significant year-on-year growth in revenue, EBITDA, and PAT, along with an all-time high order book and capacity expansion progress.
Emmvee Photovoltaic Power Limited has announced its strongest first-quarter performance to date for the quarter ended June 30, 2026. The company reported a 51% year-on-year increase in revenue from operations, reaching ₹1,555.5 crore. EBITDA grew by 56% to ₹548.1 crore, with the EBITDA margin expanding to an all-time high of 35.2%.
Profit after tax more than doubled, rising 103% to ₹380.3 crore, achieving a record PAT margin of 24.2%. This strong performance was supported by higher production volumes, deeper integration of internally manufactured solar cells, and operating leverage across its expanded manufacturing base. The company achieved record quarterly production of 970 MW of modules and 454 MW of cells.
Emmvee secured order inflows of 1.48 GW during the quarter, boosting its order book to an all-time high of approximately 9.9 GW, providing significant revenue visibility. The company's 6 GW integrated TOPCon cell and module facility is progressing as planned, with the module line expected by December 2026 and the cell line by March 2027. Furthermore, Emmvee is evaluating backward integration into ingot and wafer manufacturing with a proposed 9 GW facility.
Mr. DV Manjunatha, Chairman & Managing Director, commented that the performance reflects a clear improvement in the quality of earnings, driven by deeper cell integration, operating leverage, and disciplined execution. He expressed confidence in the company's future growth, supported by its strong order book, the implementation of ALMM List II, and ongoing capacity expansion.
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