Emmvee'Photovoltaic'rallies'after'PAT'surges'89%'YoY'in'Q4

For'Q4'FY2026,'consolidated'revenue'from'operations'stood'at'Rs'1,738.8'crore,'up'62%'year-on-year'and'51%'quarter-on-quarter.'EBITDA'for'the'quarter'was'Rs'571.1'crore,'up'58%'year-on-year'and'38%'quarter-on-quarter,'with'EBITDA'margin'at'33%'compared'to'34%'in'Q4'FY25'and'36%'in'Q3'FY26.'Profit'after'tax'for'Q4'FY2026'was'Rs'392.4'crore,'up'89%'year-on-year'and'49%'quarter-on-quarter,'with'PAT'margin'at'23%

For'FY2026,'the'company'reported'consolidated'revenue'from'operations'of'Rs'5,050'crore,'up'116%'year-on-year,'while'EBITDA'increased'140%'year-on-year'to'Rs'1,734.4'crore.'Profit'after'tax'for'the'year'stood'at'Rs'1,081.6'crore,'up'193%'year-on-year.'EBITDA'margin'improved'to'34%'in'FY2026'from'31%'in'FY2025,'while'PAT'margin'expanded'to'21%'from'16%,'reflecting'strong'operating'leverage,'improved'efficiencies,'and'scale'benefits'with'negative'net'debt.'

The'company'said'the'strong'performance'was'driven'by'higher'production'volumes,'the'first'full'year'of'solar'cell'operations,'expansion'in'module'capacity,'operating'leverage'and'lower'finance'costs'following'balance'sheet'deleveraging.

The'company'reported'a'net'debt-to-equity'ratio'of'(0.06)x'as'of'31'March'2026,'indicating'a'net'cash'position.'

Order'book'stood'at'9.4'GW'at'the'end'of'FY2026,'with'Q4'order'inflows'at'1.27'GW.

Consolidated'net'cash'from'operating'activities'decreased'to'Rs'200.14'crore'in'FY26'from'Rs'624.89'crore'a'year'ago.

Emmvee'Photovoltaic'Power'is'one'of'India's'leading'integrated'solar'photovoltaic'module'and'cell'manufacturers.'As'of'31'March'2026,'it'had'installed'production'capacity'of'10.3'GW'of'solar'modules'and'2.94'GW'of'TOPCon'solar'cells.