Emmvee Photovoltaic Power Limited has filed its Q3FY26 investor presentation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, showcasing strong financial performance and operational achievements for the quarter ended December 31, 2025.

Strong Financial Performance in Q3FY26

The company delivered robust financial results during the quarter, demonstrating significant growth across key metrics. The comprehensive performance highlights the company's strengthening position in the solar manufacturing sector.

Operational Excellence and Manufacturing Capacity

The company has established itself as the second-largest pure-play integrated module and cell manufacturer with 2.94 GW TOPCon cell production capacity and 5.10% market share. The integrated manufacturing approach supports efficient and sustainable operations, with all four manufacturing units strategically located within a 100 km radius.

The company has demonstrated strong production capabilities with 2.1 GW of modules and 1.1 GW of cells produced in the first nine months of FY26 alone.

Substantial Order Book and Growth Prospects

Emmvee Photovoltaic Power maintains a strong order book of 9.30 GW, which includes 4.50 GW of multi-year contracts scheduled for delivery over the next five years. This substantial order book provides revenue visibility and supports the company's growth trajectory.

Financial Strength and Balance Sheet Position

The company maintains a strong balance sheet with a net debt to equity ratio of (0.02)x, indicating robust financial health. This strong financial position supports the company's expansion plans and operational requirements.

Technology Leadership and Market Position

With 18+ years of proven track record in module manufacturing and strategic collaboration with Fraunhofer, the company has established an early-mover advantage in high-efficiency TOPCon technology. The company has successfully commissioned multiple manufacturing facilities, including a 2.5 GW module facility at Sulibele, Bengaluru, with the second module line of 2.5 GW commissioned in December 2025.

The investor presentation, filed on January 15, 2026, and signed by Company Secretary Shailesha Barve, is available on the company's website at www.emmveepv.com/investors for stakeholder reference.

Emmvee Photovoltaic Power Limited delivered exceptional financial performance in the third quarter of FY26, demonstrating robust growth across all key metrics. The integrated solar module and cell manufacturer reported revenue from operations of ₹11,523 crores for Q3 FY26, representing a substantial 118% increase compared to ₹5,283 crores in Q3 FY25.

Strong Financial Performance Across Metrics

The company's profitability showed remarkable improvement with profit after tax surging 166% year-on-year to ₹2,636 crores from ₹992 crores in the previous year quarter. PAT margins expanded significantly to 23.00% in Q3 FY26 from 18.00% in Q3 FY25, reflecting enhanced operational efficiency.

Nine-Month Performance Shows Consistent Growth

For the nine months ended December 31, 2025, Emmvee Photovoltaic Power maintained strong momentum with revenue from operations reaching ₹33,111 crores, up 162% from ₹12,639 crores in 9M FY25. EBITDA for the nine-month period grew 222% to ₹11,633 crores, while PAT increased substantially by 326% to ₹6,892 crores.

Capacity Expansion and Operational Milestones

The company achieved significant operational milestones during the quarter, successfully commissioning a new 2.5 GW solar module manufacturing line on December 20, 2025, at its Suliblele facility. This expansion increased the company's aggregate solar module manufacturing capacity to 10.3 GW as of December 2025.

Strong Order Book and Strategic Contracts

Emmvee Photovoltaic Power maintains a robust order book of 9.3 GW as of December 2025, providing strong revenue visibility with 6.3 GW scheduled for delivery over the next 12-18 months. The company secured a major 4.5 GW order for TOPCon crystalline silicon photovoltaic cells from a domestic customer, with execution planned between December 2025 and 2030.

Financial Position and Return Ratios

The company maintains a strong balance sheet with a net cash position, reflected in a Net Debt to Equity ratio of -0.02x as of December 31, 2025. Return ratios remained impressive with annualized ROCE at 36.50% and ROE at 49.90% for Q3 FY26. The company has fully paid for land allotment for a proposed 6 GW integrated solar module and cell manufacturing facility at Devanahalli, Bengaluru, with design and execution planning currently in progress.