Emmvee Photovoltaic Power has reported a strong financial performance for the first half of FY 2026, with consolidated revenue surging 193.5% year-on-year to INR 2,159 crore. Profit after tax (PAT) for H1 jumped 578.6% to INR 425.5 crore.
In Q2 FY26, revenue rose 181.1% YoY to INR 1,131 crore, while net profit increased 577.8% to INR 237.9 crore.
The Board of Directors approved the financial results at its meeting held in Bengaluru. This also marks Emmvee’s first earnings announcement following its successful stock market debut.
The company recorded a significant rise in demand for its high-efficiency solar modules, driving the sharp revenue growth. Improved operational efficiencies contributed to substantial EBITDA margin expansion during the period.
Emmvee completed its Initial Public Offering (IPO) during the half-year, raising a total of INR 2,900 crore, including a fresh issuance of INR 2,143.9 crore. The company’s equity shares were listed on the BSE and NSE on Nov. 18, 2025.
A major portion of the IPO proceeds has been utilized to repay around INR 1,621 crore of long-term debt, strengthening the company’s balance sheet and reducing interest expenses. The remaining funds will be used for general corporate purposes, including optimizing working capital, which is expected to further lower finance costs.
“We are delighted to report a historic first half for Emmvee, characterized by record financial performance and our successful transition into a publicly listed entity. Delivering nearly 7x growth in Profit After Tax for the first half of the year is a testament to our robust manufacturing capabilities and the trust our customers place in our high-quality solar solutions,” said Manjunatha Donthi Venkatarathnaiah, Chairman and Managing Director, Emmvee Photovoltaic Power.
“With the successful completion of our IPO, we are better capitalized than ever to execute our expansion strategies,” he added.
Incorporated in 2007, Emmvee has grown into a large-scale manufacturer of Solar PV modules and systems, operating state-of-the-art production facilities with a strong focus on high-efficiency technologies.
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