Emmvee Photovoltaic Power reported its strongest first-quarter performance to date for the period ended June 30, 2026, with profit after tax (PAT) more than doubling year-on-year. PAT increased 103% to ₹380.3 crore, while revenue from operations grew 51% to ₹1,555.5 crore. The company achieved record EBITDA and PAT margins of 35.2% and 24.2%, respectively, supported by higher production volumes and deeper integration of internally manufactured solar cells. The Board of Directors approved the unaudited financial results at a meeting held on July 15, 2026.

Financial Performance

EBITDA for the quarter rose 56% to ₹548.1 crore, with the margin expanding 114 basis points from 34.1% in Q1 FY26. Profit before tax grew 96% to ₹469.6 crore. Earnings per share (EPS) on a basic and diluted basis stood at ₹5.49. The paid-up equity share capital remained at ₹13,846.90 lakh.

The following table summarises the key consolidated financial metrics for the quarter:

Operational Highlights

Emmvee recorded its highest-ever quarterly production volumes during Q1 FY27. Solar module production increased 53% year-on-year to 970 MW, while solar cell production rose 26% to 454 MW. Effective solar cell capacity utilisation improved to a record 83%, compared to 68% in Q1 FY26, driving margin expansion through higher internal cell consumption. As of the end of Q1 FY27, the company had an installed annual manufacturing capacity of approximately 10.3 GW for solar modules and 2.94 GW for TOPCon solar cells.

Order Book and Expansion

The company secured order inflows of 1.48 GW during the quarter, taking its order book to an all-time high of approximately 9.9 GW. The order book is diversified across independent power producers and commercial and industrial customers, with a repeat customer rate of 57%. Regarding capacity expansion, the 6 GW integrated TOPCon cell and module facility is progressing as planned, with the module line expected to be commissioned by December 2026 and the cell line by March 2027.

Manjunatha Donthi Venkatarathnaiah, promoter of emmvee photovoltaic power , has confirmed that no new encumbrances were created on the shares held by him or persons acting in concert during the financial year ended March 31, 2026. The disclosure, made under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, assures that any existing pledges or charges remain limited to those previously disclosed.

The confirmation addresses compliance requirements regarding the pledging of promoter shares, a key metric for investors assessing corporate governance and promoter leverage. The filing explicitly states that no fresh encumbrance was established directly or indirectly on the promoter's holdings throughout the specified financial year.

In accordance with Regulation 31(5) of the Takeover Code, the promoter has requested the company to place this disclosure before its audit committee. The filing, dated April 09, 2026, was addressed to the stock exchanges and the company's compliance officers.

The disclosure included a comprehensive list of the promoter and promoter group entities. The list categorizes individuals and entities associated with the company, distinguishing between individual promoters and group members.

Promoter and Promoter Group Details