Emmvee Q1FY27: Revenue ₹15.6 Bn (+51% YoY), PAT ₹3.8 Bn (+103% YoY)
Emmvee reported Q1 FY27 revenue of ₹15.6 billion, up 51% YoY, and PAT of ₹3.8 billion, up 103% YoY. EBITDA margin was 35% and PAT margin was 24%. The company has a 9.9 GW order book and is expanding its integrated cell and module capacity by 6 GW by FY28, with a project cost of ₹5,500 crore.
The substantial YoY growth in revenue and profit, coupled with strategic capacity expansions and a strong order book, indicates a significant positive impact on the company's future performance and market position.
The company reported strong year-on-year growth in revenue and profit, along with improved margins and a significant order book, indicating a positive financial and operational outlook.
Emmvee Photovoltaic Power Limited has reported a strong performance for the first quarter of FY27, with revenue from operations reaching ₹15,555 million (approximately ₹15.6 billion), marking a significant 51% year-on-year increase. The company's Profit After Tax (PAT) also saw substantial growth, rising by 103% year-on-year to ₹3,803 million (approximately ₹3.8 billion).
This robust financial performance was driven by increased operational efficiency and capacity utilization. Module production reached a record 970 MW with 45% utilization, while cell production hit a record 454 MW with 83% utilization. The EBITDA margin expanded to 35%, and the PAT margin improved to 24%, reflecting operational leverage and expense optimization.
The company received an order inflow of 1.5 GW during Q1FY27, contributing to a strong order book of 9.9 GW, which provides significant revenue visibility for upcoming quarters. Emmvee is also progressing with its 6 GW integrated TOPCon cell and module expansion, expected to be commissioned by December 2026 (module line) and March 2027 (cell line), with an estimated project cost of ₹5,500 crore.
Further plans include backward integration into ingot and wafer manufacturing with a 9 GW facility, planned in two phases (FY29 and FY30), with an estimated capex of ₹5,000-5,500 crore, to be funded through internal accruals. The company also highlighted its strategic positioning to capitalize on the growing Domestic Content Requirement (DCR) market in India, particularly with the implementation of ALMM II from June 2026.
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Emmvee Photovoltaic Power Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Emmvee Photovoltaic Power Limited. Read the original for the full detail.