Emmvee Photovoltaic Power Ltd.PAT ₹382 Cr +61%, 10.4 GW orders

Emmvee Photovoltaic Power reported Q2 FY27 revenue from operations of ₹1,576 crore, up 39% year-on-year, EBITDA of ₹557 crore, up 39% at a 35.3% margin, and profit after tax of ₹382 crore, up 61%.

For the first half, revenue rose 45% to ₹3,132 crore, EBITDA rose 47% to ₹1,105 crore and profit after tax rose 79% to ₹762 crore, helped by finance cost falling to ₹9.5 crore from ₹55.2 crore after IPO proceeds repaid debt. Module production rose 40% to 952 MW and cell production rose 61% to 513 MW at 89% utilisation. The order book was about 10.4 GW, with a record 1.5 GW of new orders, and about 70% of it is for domestic-content projects.

The 6 GW integrated expansion, costing about ₹5,500 crore, is on track, with the module line due in December and the cell line in March 2027. Management expects the upper end of its ₹2,200 crore to ₹2,400 crore FY27 EBITDA guidance.