Emmvee Photovoltaic Power shares hit 52-week after net profit doubles in June quarter; check all Q1 FY27 numbers

The pure-play integrated solar photovoltaic system module and solar cell manufacturing firm reported a 102% jump in its consolidated net profit at ₹380 crore for the quarter ending June 30 of the financial year 2026-27 (Q1 FY27). The company had seen a profit of ₹188 crore in the same quarter of the previous fiscal year.

This was supported by higher production volumes, deeper integration of internally manufactured solar cells and operating leverage across its expanded manufacturing base.

Emmvee’s revenue from operations for the quarter under review stood at ₹1,556 crore, marking a growth of 51% from ₹1,028 crore reported in the first quarter of FY26.

For Q1 FY27, the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) jumped 56% year-on-year (YoY) to ₹549 crore as against ₹351 crore in Q1 FY26. Its margin expanded at 35.26% in contrast to 34.1% YoY.

Commenting on the earnings, DV Manjunatha, Chairman & Managing Director, Emmvee Photovoltaic Power, said: “This is the strongest first quarter in Emmvee’s history, with both production volumes and margins at all-time high. Our revenue, EBITDA and PAT growth reflects a clear improvement in the quality of our earnings, driven by deeper cell integration, operating leverage and disciplined execution.”

The recently listed company said it has recorded its highest-ever quarterly production volumes during Q1 FY27. Solar module production increased by 53% YoY to 970 MW, compared with 635 MW in Q1 FY26. The solar cell production also grew 26% YoY to 454 MW, compared with 360 MW in the corresponding quarter of the previous year.

Emmvee’s effective solar cell capacity utilisation improved to a record 83%, from 68% during the reporting quarter and 79% in Q4 FY26, reflecting the continued ramp-up of integrated operations and higher internal cell consumption—the primary driver of margin expansion. Effective module capacity utilisation stood at 45%, providing ample headroom to support volume growth through the year.

As at the end of Q1 FY27, the company had installed annual manufacturing capacity of approximately 10.3 GW for solar modules and 2.94 GW for TOPCon solar cells.

Order book details

The firm secured order inflows of 1.48 GW during Q1 FY27, taking its order book to an all-time high of approximately 9.9 GW, providing strong revenue visibility for the coming quarters.

The company said that the order book remains diversified across independent power producers, commercial and industrial customers and other customer categories, with the repeat customer rate increasing to 57% during the quarter.

“Our strong order book, the implementation of ALMM List II and our on-track 6 GW integrated expansion give us confidence as we enter the next phase of India’s solar manufacturing growth,” said Manjunatha.

Emmvee Photovoltaic Power share price trends

At 10:30 AM, Emmvee Photovoltaic shares were trading at ₹366.10 apiece on the National Stock Exchange, rising 8.38%.

From the beginning of the year, Emmvee Photovoltaic shares have jumped over 94%. Over a month’s time, the stock has gained 9%, while it has surged 70% in six months.

Emmvee Photovoltaic Power has a total market capitalisation of ₹25,319.06 crore as of July 16, 2026, according to data on the NSE.