Loading…
Emmvee Photovoltaic Power (EMMVEE)₹264.48−1.14%Other Electrical Equipment
In the Sep 2026 quarter (consolidated), Emmvee Photovoltaic Power reported sales of ₹1,580 Cr, up 39.2% from Sep 2025, and net profit of ₹383 Cr, up 60.5% year on year. For the year to Mar 2026, sales were ₹5,068 Cr and net profit ₹1,084 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 403 | 530 | 1,076 | 1,030 | 1,135 | 1,155 | 1,745 | 1,560 | 1,580 |
| Expenses | 309 | 325 | 709 | 675 | 730 | 737 | 1,165 | 1,005 | 1,018 |
| Operating Profit | 93.16 | 202 | 361 | 350 | 400 | 414 | 572 | 549 | 558 |
| OPM % | 23.0% | 38.0% | 34.0% | 34.1% | 35.0% | 36.1% | 33.0% | 35.0% | 35.0% |
| Other Income | 10.99 | 10.01 | 3.01 | 14.01 | 18.02 | 16.01 | 5.01 | 15.99 | 3.01 |
| Interest | 16.97 | 36.89 | 45.92 | 52.89 | 54.86 | 32.92 | 12.98 | 10.97 | 8.97 |
| Depreciation | 22.97 | 53.94 | 65.91 | 71.83 | 70.88 | 73.87 | 78.88 | 83.80 | 84.79 |
| Profit before tax | 64.19 | 122 | 254 | 241 | 293 | 323 | 486 | 472 | 467 |
| Tax % | 45.0% | 18.9% | 17.9% | 21.9% | 18.0% | 17.9% | 19.0% | 19.0% | 18.0% |
| Net Profit | 35.07 | 99.19 | 207 | 189 | 239 | 265 | 393 | 381 | 383 |
| EPS (Rs) | 0.58 | 1.66 | 3.48 | 3.15 | 4.00 | 3.80 | 5.65 | 5.48 | 5.50 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 556 | 426 | 557 | 620 | 955 | 2,344 | 5,068 | 6,040 |
| Expenses | 450 | 311 | 450 | 561 | 831 | 1,610 | 3,308 | 3,925 |
| Operating Profit | 105 | 113 | 104 | 56.02 | 120 | 722 | 1,736 | 2,092 |
| OPM % | 19.0% | 27.0% | 19.0% | 9.0% | 13.0% | 31.0% | 34.0% | 34.6% |
| Other Income | 9.01 | 2.01 | 11.99 | 26.02 | 3.01 | 25.01 | 54.06 | 40.02 |
| Interest | 64.87 | 61.83 | 48.87 | 27.95 | 33.94 | 108 | 155 | 65.84 |
| Depreciation | 38.95 | 51.89 | 41.94 | 42.91 | 41.91 | 156 | 296 | 321 |
| Profit before tax | 9.04 | 1.01 | 25.07 | 12.04 | 48.13 | 485 | 1,342 | 1,747 |
| Tax % | −44.1% | −1,064.1% | 48.9% | 22.9% | 39.0% | 23.9% | 19.0% | — |
| Exceptional items | 0.00 | 0.00 | 4.01 | 0.00 | 0.00 | 0.00 | 8.01 | — |
| Net Profit | 14.04 | 9.02 | 13.04 | 9.02 | 29.09 | 370 | 1,084 | 1,421 |
| EPS (Rs) | 0.22 | 0.15 | 0.22 | 0.14 | 0.48 | 6.21 | 15.57 | 20.43 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 6.0% | — |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 11.00 | 11.01 | 11.01 | 11.00 | 10.99 | 10.99 | 138 |
| Reserves | 159 | 168 | 170 | 130 | 158 | 524 | 3,545 |
| Borrowings | 569 | 603 | 482 | 523 | 1,442 | 2,060 | 359 |
| Other Liabilities | 135 | 93.45 | 179 | 174 | 561 | 1,318 | 1,726 |
| Total Liabilities | 873 | 874 | 842 | 838 | 2,171 | 3,914 | 5,768 |
| Fixed Assets | 593 | 563 | 494 | 323 | 291 | 2,047 | 2,637 |
| CWIP | 0.99 | 5.99 | 13.99 | 93.01 | 646 | 12.99 | 9.99 |
| Investments | 1.01 | 1.01 | 1.01 | 0.00 | 0.00 | 257 | 57.04 |
| Other Assets | 278 | 305 | 334 | 420 | 1,234 | 1,597 | 3,065 |
| Inventories | 76.22 | 102 | 111 | 142 | 307 | 761 | 1,717 |
| Trade receivables | 56.99 | 71.08 | 40.01 | 69.02 | 95.99 | 190 | 695 |
| Cash & equivalents | 14.99 | 11.99 | 76.94 | 60.97 | 521 | 324 | 354 |
| Total Assets | 873 | 874 | 842 | 838 | 2,171 | 3,914 | 5,768 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from operating activity | 180 | 74.74 | 129 | 58.83 | 233 | 623 | 199 |
| Cash from investing activity | −15.99 | −23.97 | 19.99 | −131 | −1,000 | −986 | −306 |
| Cash from financing activity | −218 | −53.79 | −83.67 | 79.70 | 891 | 396 | 130 |
| Net cash flow | −54.95 | −1.99 | 64.92 | 7.99 | 129 | 35.94 | 23.98 |
| Capex | 31.01 | 21.02 | 114 | 445 | 675 | 989 | 654 |
| Free cash flow | 150 | 54.10 | 147 | −173 | −441 | −364 | −441 |
| CFO / OP % | 174.0% | 71.0% | 129.0% | 107.0% | 207.0% | 96.0% | 23.0% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 37 | 60 | 26 | 40 | 36 | 29 | 49 |
| Inventory days | 74 | 148 | 101 | 103 | 148 | 197 | 225 |
| Days payable | 60 | 79 | 34 | 50 | 77 | 91 | 116 |
| Cash conversion cycle | 51 | 131 | 94 | 93 | 108 | 136 | 159 |
| Working capital days | −35 | −29 | −44 | −28 | −90 | −38 | 86 |
| ROCE % | — | 8.0% | 9.0% | 6.0% | 7.0% | 28.0% | 45.0% |
For the Sep 2026 quarter, Emmvee Photovoltaic Power reported sales of ₹1,580 Cr, up 39.2% year on year and net profit of ₹383 Cr, up 60.5% year on year. The operating margin was 35.0%.
Emmvee Photovoltaic Power's sales for the year to Mar 2026 were ₹5,068 Cr; over the last twelve months they were ₹6,040 Cr.
Net profit for the year to Mar 2026 was ₹1,084 Cr, and ₹1,421 Cr over the last twelve months. Earnings per share over the same trailing period were ₹20.43.
Emmvee Photovoltaic Power reported borrowings of ₹359 Cr at Mar 2026, against cash and equivalents of ₹354 Cr.
Cash from operations was ₹199 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹441 Cr.