Emmvee Q2 FY27 Revenue Jumps 39% to ₹1,576.4 Cr; PAT Soars 60% to ₹382 Cr
Emmvee reported H1 FY27 revenue up 45.1% to ₹3,131.9 Cr and PAT up 79.1% to ₹762.3 Cr. Q2 FY27 revenue grew 39.4% to ₹1,576.4 Cr with PAT up 60.6% to ₹382.0 Cr. The company is expanding 6 GW integrated TOPCon cell & module capacity, with commissioning expected by December 2026/March 2027. Plans include 9 GW ingot/wafer backward integration.
The strong financial performance, coupled with substantial capacity expansion and backward integration plans, indicates a significant positive impact on the company's future growth and market position.
The company reported significant year-on-year growth in revenue and profit for both the quarter and half-year, along with strong operational highlights and progress on capacity expansion plans.
Emmvee Photovoltaic Power Limited announced its unaudited consolidated financial results for the second quarter and six months ended September 30, 2026. For H1 FY27, revenue from operations increased by 45.1% to ₹3,131.9 crore, EBITDA grew by 47.4% to ₹1,105.0 crore, and profit after tax (PAT) rose by 79.1% to ₹762.3 crore.
In Q2 FY27, revenue from operations grew by 39.4% year-on-year to ₹1,576.4 crore, with PAT increasing by 60.6% to ₹382.0 crore. Solar PV module production in Q2 FY27 was 952 MW, up from 682 MW in Q2 FY26, and solar cell production increased to 513 MW from 319 MW. The order book stood at 10.4 GW at the end of Q2 FY27, with new order inflows of approximately 1.5 GW during the quarter.
The company is progressing with its 6 GW integrated TOPCon module and cell manufacturing expansion, expected to be commissioned by December 2026 (module line) and March 2027 (cell line). A phased backward integration into 9 GW of ingot and wafer manufacturing is also planned for FY29 and FY30, with an estimated capital expenditure of ₹5,000-5,500 crore, to be funded largely through internal accruals.
Mr. DV Manjunatha, Chairman & Managing Director, commented, "Our performance during the first half of FY27 reflects continued growth in the business, supported by sustained demand, operating efficiencies and the benefits of integrated manufacturing. Our 6 GW integrated TOPCon solar cell and module manufacturing facility expansion project is progressing in line with our schedule..."
As of September 30, 2026, the Company had installed annual capacity of approximately 10.3 GW in modules and 2.94 GW in TOPCon solar cells.
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