Emmvee PV doubles FY26 revenue to ₹5,050 Cr; triples PAT to ₹1,082 Cr
Emmvee Photovoltaic Power Ltd announced strong financial results for FY2026 and Q4 FY2026. For the full year, revenue from operations surged 116% year-on-year to ₹5,050 crore, while EBITDA grew 140% to ₹1,734.4 crore. Profit after tax (PAT) more than tripled, increasing 193% year-on-year to ₹1,081.6 crore. EBITDA margin improved to 34% and PAT margin to 21%. Q4 FY2026 also saw robust growth, with revenue at ₹1,738.8 crore (+62% YoY) and PAT at ₹392.4 crore (+89% YoY). The performance was driven by higher production volumes, solar cell operations, module capacity expansion, operating leverage, and lower finance costs. The company also announced plans for a new 6 GW integrated cell and module manufacturing facility, targeting 16.3 GW module and 8.94 GW cell capacity by FY2028, with IREDA sanctioning a ₹3,306 crore term loan.
Key Highlights
- FY2026 revenue from operations grew 116% YoY to ₹5,049.9 crore.
- FY2026 Profit After Tax (PAT) increased 193% YoY to ₹1,081.6 crore.
- EBITDA margin improved to 34% and PAT margin expanded to 21% in FY2026.
- Net debt to equity stood at (0.06)x as of March 31, 2026.
- Company plans new 6 GW integrated facility, targeting 16.3 GW module capacity by FY2028.