Emmvee Photovoltaic Power Limited, one of India’s leading renewable energy companies and a trusted solar solutions provider since 2007, announced its unaudited consolidated financial results for Q2 FY26 and H1 FY26. The Board of Directors approved the results at a meeting held in Bengaluru.
This marks the company’s first earnings disclosure since its successful listing, underscoring a breakthrough financial period driven by robust demand and strong execution in its solar photovoltaic (PV) module business.
The company reported a historic first half, registering outstanding growth across all financial metrics. Revenue from operations for H1 FY26 surged 193.5% YoY to ₹2,158.8 crore, compared with ₹735.6 crore a year earlier. Total income mirrored this momentum, rising to ₹2,191.6 crore, also up 193.5% YoY.
Profitability remained a major highlight, with PAT jumping nearly seven-fold to ₹425.5 crore, reflecting a 578.6% YoY increase from ₹62.7 crore in H1 FY25. EBITDA climbed to ₹749.9 crore, a substantial 370.7% YoY rise, while diluted EPS for the half-year stood at ₹7.17, underscoring the company’s strengthened earnings profile.
Emmvee delivered another strong quarter in Q2 FY26, maintaining its upward trajectory. Consolidated revenue from operations touched ₹1,131 crore, resulting in a 181.1% YoY increase from ₹402.4 crore in Q2 FY25. PAT rose sharply to ₹237.9 crore, up 577.8% YoY, while EBITDA advanced to ₹399.4 crore, registering 331.3% YoY growth.
The company attributed the robust quarterly performance to operational efficiencies, improved scale, and strong customer demand, which contributed to meaningful expansion in EBITDA margins. Diluted EPS for the quarter stood at ₹4.01.
The company achieved a significant milestone during the period with the successful completion of its Initial Public Offering (IPO), raising ₹2,900 crore, including a fresh issue of ₹2,143.9 crore. Emmvee’s equity shares were listed on the BSE (Scrip Code: 544608) and NSE (Symbol: EMMVEE) on November 18, 2025. A major portion of the IPO proceeds—about ₹1,621 crore—has been used to repay long-term debt, which materially enhances the balance sheet and reduces interest outgo. The remainder has been allocated for general corporate purposes, aimed at optimizing working capital and reducing financial liabilities further.
Commenting on the results, Mr. Manjunatha Donthi Venkatarathnaiah, Chairman and Managing Director of Emmvee Photovoltaic Power Limited, described H1 FY26 as a “historic first half” for the company. He highlighted that the nearly seven-fold increase in PAT reflects Emmvee’s strong manufacturing ecosystem and the trust customers place in its high-quality, high-efficiency solar solutions. Following the IPO, he noted that the company is “better capitalised than ever” and well-prepared to accelerate its expansion plans. He added that as India progresses toward its 500 GW renewable energy target, Emmvee is strategically positioned to capture significant growth, backed by integrated manufacturing capabilities and advanced technologies.
Emmvee continues to strengthen its position as a global solar solutions provider through its state-of-the-art manufacturing facilities and focus on high-efficiency PV modules. The company remains committed to delivering reliable, technologically advanced, and sustainable solar energy solutions to customers worldwide. With rising demand for clean energy and India’s rapidly expanding renewable energy roadmap, Emmvee aims to play a pivotal role in shaping the country’s solar manufacturing landscape.
On Tuesday, Emmvee Photovoltaic share price jumped over 8% to hit an intraday high of ₹237.45 per share as the company reported a 193% jump in revenue in H1 FY26. As of 10:38 am, the stock price was trading at ₹234.40 per share, up by 7.20%.
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