Emmvee Photovoltaic rose sharply on Tuesday after the company reported a stellar Q2FY26 performance, with net profit jumping 578% YoY to Rs 238 crore and revenue rising 181%. Strong demand for high-efficiency solar modules, improved margins, and IPO-led debt reduction strengthened its financials as the company positions for growth in Indias expanding renewable energy market.

Sunil Singhania-backed Emmvee Photovoltaic surges 10% as Q2 profit rockets 578% YoY

Emmvee Photovoltaic Sees 578% YoY Net Profit Surge, Shares Jump 10%

Indian solar energy company Emmvee Photovoltaic Power saw its shares surge 10% to a day's high of ₹240.76 on the NSE on Tuesday, following the release of stellar Q2FY26 earnings.

Key Highlights:

Net Profit: ₹238 crore, a 578% YoY surge over ₹35 crore reported in the year-ago period.
Revenue: ₹1,131 crore, up 181% over ₹402 crore reported in the year-ago period.
EBITDA: ₹399 crore, a 331% surge over ₹93 crore reported in the corresponding quarter of the last financial year.

Strong Demand and Operational Efficiencies Drive Growth

Emmvee Photovoltaic witnessed a significant surge in demand for high-efficiency solar modules, driving a 193% YoY increase in H1 revenue. The company's operational efficiencies resulted in significant EBITDA margin expansion, according to a company filing to the exchanges.

IPO Proceeds Used to Repay Debt and Strengthen Balance Sheet

Emmvee Photovoltaic raised a total of ₹2,900 crore from its initial public offering (IPO), with a large part of the proceeds used to repay about ₹1,621 crore of long-term debt, strengthening the balance sheet and lowering interest costs.

Management Commentary

Commenting on Emmvee Photovoltaic's earnings, Chairman and Managing Director Manjunatha Donthi Venkatarathnaiah called the earnings "historic" for the first half of the financial year. He attributed the growth to the company's robust manufacturing capabilities and the trust its customers place in its high-quality solar solutions.

Investor Support

Abakkus Emerging Opportunities Fund- I and Abakkus Growth Fund-2 were allocated a total of 3.84% (amounting to ₹49 crore) of the anchor quota in the anchor bidding. Other marquee investors in the company include Amundi Funds, New Silk Road, and Franklin India.

Future Outlook

With the successful completion of its IPO, Emmvee Photovoltaic is better capitalized than ever to execute its expansion strategies. As India accelerates its journey towards 500 GW of renewable energy capacity, Emmvee is strategically positioned to capture significant market share with its advanced technology and integrated manufacturing ecosystem.