Earnings call · Jul–Sep 2026
Emmvee Photovoltaic Power Limited
Emmvee delivered Apr–Sep 2026 revenue growth of 45% to ₹3,132 crore & EBITDA (operating profit before depreciation, interest & tax) growth of 47% to ₹1,105 crore, maintaining 35% EBITDA margins. The company commissioned a 6 GW (gigawatts: 1,000 megawatts of power capacity) integrated cell-module facility on track for December 2026 (modules) & March 2027 (cells) & sees strong domestic solar demand growing 64% from a year earlier.
The full notes: the guidance, numbers & KPIs, strategy, outlook, risks, what analysts asked.
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From the company
- Suhas ManjunathaChairman and Managing
- Pawan Kumar JainChief Financial Officer
Questions came from
- Apoorva BahadurIIFL Capital
- Deepak KrishnanKotak Institutional Equities
- Parth MajithiaAmbit Capital
- Prasad HaseSpark Capital
- Dhruv MuchhalHDFC AMC
- Sahil ShethAnand Rathi Institutional Equities
- Subramaniam YadavSBI Life Insurance
- Mohit KumarICICI Securities
- Tanay KotechaNuvama
- Aritra BanerjeeNomura
Topics in this call
Opening remarks
Suhas ManjunathaChairman and Managing
Thank you, Chairman. Good evening, everyone, and thank you for joining us today. As the Chairman highlighted, H1 FY 2027 has been our strongest half-yearly performance to date. What is particularly encouraging is not only the growth we have delivered, but also the consistency of our operating performance and quality of our earnings.
We have maintained strong profitability, improved cash generation, and continued to execute our business plans while investing in the next phase of manufacturing expansion. Let me take you through our financial and operational performance.
Read the whole call: 231 paragraphs, 11 analysts' questions with every answer, 8 marked passages.
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The transcript as the company filed it on BSE. Our own rules split it into speakers & sections; an unusual layout can trip them, so check the original PDF for anything important. Not a recommendation.