Bengaluru's Emmvee Photovoltaic Power announced revenues and profits up for the second quarter and first half-year ended Sept 30, 2026. Growth for the quarter had been modest due to the awaited manufacturing expansion.
Emmvee's total income for H1 FY27 was up 45.1 percent at ₹3,131.9 crore, whereas EBITDA expanded 47.4% to ₹1,105.0 crore. Profit after taxes went up 79.1 percent to ₹762.3 crore.
For Q2 FY27, the revenues rose by 39.4% YoY to ₹1,576.4 crore. Profit after tax jumped 60.6 percent to ₹382 crore. This performance came on the back of strong production numbers and rising orders. In Q2 FY27, the production of solar modules rose to 952 MW compared to 682 MW in Q2 FY26. At the same time, solar cell manufacturing went up to 513 MW versus 319 MW in the corresponding period last year. Despite this performance, the stock opened lower, dropping close to 2 percent , due to overall market weakness. There is also a probability of a gap between cell and module capacities until March 2027.
The effective utilisation rate was 89% for solar cells and 44 percent for modules. The firm has an outstanding order book of 10.4 GW, backed by fresh orders worth around 1.5 GW in Q2 FY27.
