Business Update Positive

2026-10-21 18:11

Financial & Operational Performance - Q2 FY27 Revenue from operations grew 39% YoY to ₹1,576 Cr; EBITDA was up 39% YoY to ₹557 Cr with EBITDA margin of 35.3%. - Q2 FY27 PAT grew 61% YoY to ₹382 Cr (PAT margin of 24%). H1 FY27 PAT rose 79% YoY to ₹762 Cr. - Solar cell production increased 61% YoY to 513 MW with 89% effective capacity utilization; module production rose 40% YoY to 952 MW at 44% utilization. - Net debt to equity ratio stood at 0.12x as of September 30, 2026. Management Guidance & Outlook - Confident in achieving the upper end of the ₹2,200–2,400 Cr EBITDA guidance for FY27. - Operating margins are anticipated to remain resilient around ~35%, aided by operational efficiencies, lower silver consumption, and transition to G12R format. - Cell utilization is targeted to remain near ~90%, while module utilization is targeted at 45%–60%. Capex & Capacity Expansion - Ongoing 6 GW integrated TOPCon cell and module expansion remains on track with module line commissioning by December 2026 and cell line by March 2027. - Total capex is ₹5,500 Cr (hard cost ₹4,600 Cr; soft cost/working capital/IDC ₹700–900 Cr). - Total capacity post-expansion will scale to 16.3 GW for modules and 8.9 GW for cells. Backward integration into 9 GW ingot/wafer manufacturing is planned in two phases. Order Book & Demand Drivers - Order book stood at 10.4 GW as of September 30, 2026, with 1.5 GW order inflows in Q2; 5.0–5.5 GW is scheduled for delivery over the next 12–15 months. - Order book mix is ~70% DCR and ~30% non-DCR; customer split is ~75% institutional (IPP & C&I) and 25% retail/KUSUM.

Business Update Positive

2026-10-21 18:09

Financial Performance & Margins - H1 FY27 Revenue grew 45% YoY to ₹3,132 Cr; EBITDA increased 47% YoY to ₹1,105 Cr maintaining ~35% EBITDA margin; PAT grew 79% YoY to ₹762 Cr. - Q2 FY27 Revenue stood at ₹1,576 Cr (up 39% YoY) with EBITDA of ₹557 Cr (35.3% margin) and PAT of ₹382 Cr (up 61% YoY). - Balance sheet remains healthy with a net debt-to-equity ratio of ~0.12x as of September 30, 2026. Order Book & Demand Outlook - Total order book stands at 10.4 GW as of Q2 FY27, with 1.5 GW order inflows during the quarter; 5.0 to 5.5 GW deliverable over next 12-15 months. - Order book mix comprises ~70% DCR and ~30% non-DCR, driven by IPPs, C&I, and retail/KUSUM schemes. Capacity Expansion & Capex - 6 GW integrated TOPCon cell and module project progressing on schedule with capex of ~₹5,500 Cr (hard cost of ~₹4,600 Cr). - Module facility commissioning expected by December 2026 and cell facility by March 2027, taking total capacity to 16.3 GW module and 8.9 GW cell. - Planning backward integration into a 9 GW ingot and wafer capacity across two phases (5 GW and 4 GW). Management Guidance & Outlook - Management remains confident of meeting the upper end of the FY27 EBITDA guidance range of ₹2,200 - ₹2,400 Cr. - Margins expected to stay protected via operational efficiencies, silver consumption reduction, and migration to G12R format.

Business Update Neutral

2026-10-15 19:03

- Emmvee Photovoltaic Power Limited informed the exchange about the audio recording link for the Q2FY27 earnings conference call held on October 15, 2026. - The audio recording has been made available on the company website.

Business Update Neutral

2026-10-15 19:01

- Emmvee Photovoltaic Power Limited informed the stock exchanges about the availability of the audio recording for the Q2 FY27 earnings conference call held on October 15, 2026. - The audio recording has been made accessible on the company's official website at the provided link.

Financials Positive

2026-10-14 19:27

Q2 FY27 Consolidated Revenue ₹15,764Mn vs ₹11,310Mn (▲39.4% YoY) EBITDA ₹5,569Mn vs ₹3,994Mn (▲39.4% YoY) PAT ₹3,820Mn vs ₹2,379Mn (▲60.6% YoY) EBITDA Margin 35.3% vs 35.3% (▲0bps)

Financials Positive

2026-10-14 19:25

Q2 FY27 Consolidated Revenue ₹15,764Mn vs ₹11,310Mn (▲39.4% YoY) EBITDA ₹5,569Mn vs ₹3,994Mn (▲39.4% YoY) PAT ₹3,820Mn vs ₹2,379Mn (▲60.6% YoY) EBITDA Margin 35% vs 35% (▲0bps)

Business Update Positive

2026-10-14 19:20

- Q2 FY27 revenue grew 39.4% YoY to ₹1,576.4 Cr; PAT rose 60.6% to ₹382.0 Cr. - Order book stood at 10.4 GW with 1.5 GW new inflows in Q2. - 6 GW module line commissioning targeted by Dec 2026; cell line by Mar 2027. - ₹5,000-5,500 Cr capex planned for 9 GW backward integration.

Business Update Positive

2026-10-14 19:17

- Q2 FY27 Revenue grew 39.4% YoY to ₹1,576.4 Cr; PAT rose 60.6% YoY to ₹382.0 Cr. - H1 FY27 Revenue was ₹3,131.9 Cr (+45.1%) and PAT reached ₹762.3 Cr (+79.1%). - Order book stood at 10.4 GW with 1.5 GW added in Q2. - 6 GW module and cell expansion on track for FY27.

Financials Neutral

2026-10-14 19:10

Q2 FY27 Consolidated Revenue ₹1,576.4Cr vs ₹1,131.0Cr (▲39.4% YoY) EBITDA ₹556.9Cr vs ₹399.4Cr (▲39.4% YoY) PAT ₹382.0Cr vs ₹237.9Cr (▲60.6% YoY) EBITDA Margin 35.3% vs 35.3% (▲1bps)

Financials Positive

2026-10-14 19:07

Q2 FY27 Consolidated Revenue ₹1,576.4Cr vs ₹1,131.0Cr (▲39.4% YoY) EBITDA ₹556.9Cr vs ₹399.4Cr (▲39.4% YoY) PAT ₹382.0Cr vs ₹237.9Cr (▲60.6% YoY) EBITDA Margin 35.3% vs 35.3% (Flat)

Financials Positive

2026-10-14 19:05

Q2 FY27 Consolidated Revenue ₹1,576.4Cr vs ₹1,131.0Cr (▲39% YoY) EBITDA ₹556.9Cr vs ₹399.4Cr (▲39% YoY) PAT ₹382.0Cr vs ₹237.9Cr (▲61% YoY) EBITDA Margin 35.3% vs 35.3% (▲1bps)

Business Update Neutral

2026-10-07 21:18

- Emmvee Photovoltaic Power Limited has informed the Exchange regarding the schedule of investor/analyst meetings. - Details of the meet include the date and time of the scheduled interaction.

Business Update Neutral

2026-10-07 21:16

Concall Schedule Concall Date: Thursday, October 15, 2026 Concall Time: 04:00 PM IST

Governance Neutral

2026-10-07 21:11

- Board meeting scheduled on October 14, 2026, to consider and approve Q2 and H1 FY27 unaudited financial results. - Trading window remains closed until 48 hours after results declaration. - Q2FY27 Earnings Conference Call scheduled for October 15, 2026, at 4:00 PM IST.

Routine Negative

2026-10-01 19:14

CRITICAL RED FLAG DETECTED

- Material subsidiary Emmvee Energy Private Limited received a Show Cause Notice from Karnataka State GST Department on September 30, 2026. - Notice alleges excess availment of Input Tax Credit (ITC) for FY 2022-23, proposing tax demand of ₹20.39 crore, interest of ₹16.02 crore, and penalty of ₹2.04 crore (totaling ₹38.45 crore). - Company considers allegations unsustainable, plans to file a response, and does not expect any material financial impact.

Business Update Positive

2026-10-01 19:14

- Emmvee Photovoltaic Power Limited received a favorable order from the Hon'ble High Court of Karnataka regarding an ongoing criminal litigation. - The High Court has directed the Trial Court to dispose of the matter within a period of nine months. - The initial litigation details were previously disclosed in the company's Prospectus dated November 14, 2025.

Routine Negative

2026-10-01 19:12

CRITICAL RED FLAG DETECTED

- Material subsidiary Emmvee Energy Private Limited received a Show Cause Notice from the Karnataka State GST Department. - Notice proposes a tax demand of ₹20.39 crore plus interest of ₹16.02 crore and penalty of ₹2.04 crore (total ₹38.45 crore) for alleged excess ITC in FY 2022-23. - Company believes allegations are not sustainable and expects no material financial impact.

Governance Positive

2026-10-01 19:12

- Emmvee Photovoltaic Power Limited received a favorable order from the Hon'ble High Court of Karnataka regarding an ongoing litigation. - The High Court has directed the Trial Court to dispose of the matter within a period of nine months. - The litigation was previously disclosed in the Company's Prospectus dated November 14, 2025.

Governance Neutral

2026-09-28 20:00

- Emmvee Photovoltaic Power Limited held its 19th Annual General Meeting (AGM) on September 25, 2026. - All four resolutions, including the adoption of financial statements, declaration of dividend, appointment of Mr. Suhas Donthi Manjunatha as a director, and ratification of remuneration payable to cost auditors for FY 2026-27, were successfully passed with the requisite majority. - Voting was conducted through remote e-voting and e-voting during the AGM as per the Scrutinizer's Report.

Routine Neutral

2026-09-25 18:06

- Trading window for dealing in company securities will remain closed with effect from October 1, 2026. - The closure is on account of unaudited financial results for the quarter and half-year ending September 30, 2026. - Trading window will reopen 48 hours after the announcement of results.

Routine Neutral

2026-09-25 18:05

- Trading window closed effective Thursday, October 1, 2026. - Closure relates to Q2 and H1 FY27 unaudited financial results for the period ending September 30, 2026. - Trading window to re-open 48 hours post declaration of results.

Routine Neutral

2026-09-25 17:55

- Emmvee Photovoltaic Power Ltd submitted a declaration under Regulation 34(1)(b) confirming no changes in the Annual Report for 2025-26. - The report was previously submitted to the stock exchanges and is available on the company website.

Routine Neutral

2026-09-25 17:52

- Emmvee Photovoltaic Power Limited submitted a declaration under Regulation 34(1)(b) of SEBI LODR Regulations. - Confirmed that there is no change in the Annual Report for 2025-26 previously submitted to the stock exchanges.

Governance Positive

2026-09-25 17:41

19th Annual General Meeting (AGM) of Emmvee Photovoltaic Power Limited held on September 25, 2026. - Shareholders approved all proposed resolutions including adoption of financial statements, final dividend of Re 1 per share, appointment of Mr. Suhas Donthi Manjunatha, and ratification of cost auditor remuneration. - Consolidated FY2025-26 revenue from operations reached ₹5,050 crore (up 116% YoY), EBITDA at ₹1,734 crore, and net profit at ₹1,082 crore. - Order book stood at 9.4 GW as of March 31, 2026.

Governance Neutral

2026-09-22 17:28

- Appointment of Mr. Murugesh C as Company Secretary and Compliance Officer, effective September 22, 2026. ఆయన Nagaraj Shrinivas Ronad ceased as Compliance Officer but continues as Company Secretary of a wholly-owned subsidiary.

Governance Neutral

2026-09-22 17:27

- Appointment of Mr. Murugesh C as the Company Secretary and Compliance Officer effective September 22, 2026. - Cessation of Mr. Nagaraj Shrinivas Ronad as Compliance Officer effective September 22, 2026, due to Mr. Murugesh C's appointment. - Mr. Nagaraj Shrinivas Ronad will continue as Company Secretary of the wholly owned subsidiary.

Financials Positive

2026-09-11 16:48

- Emmvee Photovoltaic Power Limited has fixed September 18, 2026, as the Record Date for determining eligibility for the dividend for FY 2025-26. - A dividend of Re. 1.00/- per equity share has been recommended by the Board. - The dividend is subject to approval at the AGM scheduled for September 25, 2026, and will be paid within 30 days of declaration.

Governance Positive

2026-09-11 16:47

- Record Date for FY 2025-26 dividend fixed as September 18, 2026. - Recommended dividend is Re. 1.00/- per equity share. - Subject to approval at the Annual General Meeting on September 25, 2026. - Dividend to be paid within 30 days from declaration, if approved.

Business Update Neutral

2026-09-10 16:51

- Investor/Analyst Interaction Schedule - Date: September 17-18, 2026 - Event: Jefferies India Forum 2026 - Location: Gurgaon - Nature of Meeting: Group and One-on-One Meetings

Business Update Neutral

2026-09-10 16:50

- Investor/Analyst Interaction Schedule - Date: September 17-18, 2026 - Event: Jefferies India Forum 2026 - Location: Gurgaon - Nature of Meeting: Group and One-on-One Meetings

Governance Neutral

2026-08-26 14:49

- The Board of Directors met on August 26, 2026. - Approved the appointment of M/s. Murthy & Co. LLP as Cost Auditors for the FY 2026-27. - Approved the re-appointment of Mr. Suhas Donthi Manjunatha as a Director, liable to retire by rotation, at the ensuing Annual General Meeting.

Governance Neutral

2026-08-26 14:48

- Board of Directors meeting held on August 26, 2026. - Approved the appointment of M/s. Murthy & Co. LLP as Cost Auditors for FY 2026-27. - Approved the re-appointment of Mr. Suhas Donthi Manjunatha as a Director, liable to retire by rotation, subject to shareholder approval at the ensuing Annual General Meeting.

Governance Neutral

2026-08-26 14:47

- Board of Directors meeting held on August 26, 2026. - Approved the appointment of M/s. Murthy & Co. LLP as Cost Auditors for FY 2026-27. - Approved the re-appointment of Mr. Suhas Donthi Manjunatha as a Director, subject to shareholder approval at the ensuing Annual General Meeting.

Business Update Positive

2026-07-22 18:51

- Q1FY27 saw a strong start with revenue growth of 51% YoY to ₹1,555 Cr, EBITDA growth of 56% YoY to ₹548.1 Cr, and PAT growth of 103% YoY to ₹380.3 Cr. - EBITDA margin expanded to 35% (vs 34% in Q1FY26) and PAT margin to 24% (vs 18% in Q1FY26). - Management targets an EBITDA of approximately ₹2,400 Cr by FY27 end. - Capacity expansion for 6 GW integrated TOPCon cell and module facility is on track, increasing total manufacturing capacity to 16.3 GW of modules and 8.9 GW of cells by FY2027. - Plans for backward integration into ingot and wafer manufacturing (9 GW by FY2029/FY2030), primarily funded by internal accruals. - Order book strengthened to 9.9 GW, with Q1FY27 inflow of 1.48 GW.

Business Update Positive

2026-07-22 18:50

- Q1FY27 revenue from operations stood at INR 1,555 crores, registering a 51% YoY growth. - EBITDA for Q1FY27 increased 56% YoY to INR 548 crores, with EBITDA margin improving to 35% from 34% in Q1FY26. - Profit after tax (PAT) for Q1FY27 grew 103% YoY to INR 380 crores, with PAT margin at 24% (vs 18% in Q1FY26). - Order book strengthened to 9.9 gigawatt by quarter end. - The company targets approximately INR 2,400 crore EBITDA by the close of FY27. - Progressing on a 6-gigawatt integrated TOPCon cell and module manufacturing facility, with module line commissioning by December 2026 and cell line by March 2027. - Total manufacturing capacity expected to increase to 16.3 gigawatt of modules and 8.9 gigawatt of cells by end of FY2027. - Plans for backward integration into ingot and wafer manufacturing with a total 9 gigawatt capacity by FY2030.

Business Update Neutral

2026-07-16 19:03

- Audio recording of Q1FY27 Earnings Conference Call held on July 16, 2026 at 4:00 PM (IST) has been uploaded on the company's website. The link for the audio recording is available for information and dissemination.

Business Update Neutral

2026-07-16 19:02

- Audio recording of Q1FY27 earnings conference call uploaded to the company website. - The conference call was held on Thursday, July 16, 2026, at 4:00 PM (IST).

Financials Positive

2026-07-15 19:48

- Consolidated Revenue ₹1,555.5Cr vs ₹1,027.8Cr (▲51% YoY) - EBITDA ₹548.1Cr vs ₹350.5Cr (▲56% YoY) - PAT ₹380.3Cr vs ₹187.7Cr (▲103% YoY) - EBITDA Margin 35.2% vs 34.1% (▲114bps)

Financials Positive

2026-07-15 19:47

- Consolidated Revenue ₹1,555.5 Cr vs ₹1,027.8 Cr (▲51% YoY) - EBITDA ₹548.1 Cr vs ₹350.5 Cr (▲56% YoY) - PAT ₹380.3 Cr vs ₹187.7 Cr (▲103% YoY) - EBITDA Margin 35.2% vs 34.1% (▲114bps)

Financials Positive

2026-07-15 19:32

- Consolidated Revenue ₹1,555.52 Cr vs ₹1,027.82 Cr (▲51% YoY) - EBITDA ₹548.10 Cr vs ₹350.50 Cr (▲56% YoY) - PAT ₹380.29 Cr vs ₹187.67 Cr (▲103% YoY) - EBITDA Margin 35.2% vs 34.1% (▲113bps) - Board recommended a final dividend of INR 1 per equity share for the year ended March 31, 2026.

Financials Positive

2026-07-15 19:24

- Consolidated Revenue ₹1,555.52 Cr vs ₹1,027.82 Cr (▲51.34% YoY) - EBITDA ₹548.10 Cr vs ₹350.49 Cr (▲56.38% YoY) - PAT ₹380.29 Cr vs ₹187.67 Cr (▲102.64% YoY) - EBITDA Margin 35.24% vs 34.10% (▲114bps) - Board recommended a final dividend of INR 1 per equity share for the year ended March 31, 2026.

Financials Positive

2026-07-15 19:11

- Consolidated Revenue ₹1,555.52 Cr vs ₹1,027.82 Cr (▲51.34% YoY) - EBITDA ₹548.10 Cr vs ₹350.50 Cr (▲56.38% YoY) - PAT ₹380.29 Cr vs ₹187.67 Cr (▲102.65% YoY) - EBITDA Margin 35.23% vs 34.10% (▲113bps)

Business Update Neutral

2026-07-13 17:57

- Concall Schedule: Q1FY27 Earnings Conference Call - Concall Date: Thursday, July 16, 2026 - Concall Time: 04:00 PM IST

Business Update Neutral

2026-07-13 17:56

- Concall Schedule - Concall Date: July 16, 2026 - Concall Time: 04:00 PM IST

Routine Neutral

2026-07-10 21:34

New Filing detected. See link for details.

Governance Negative

2026-06-30 19:20

CRITICAL RED FLAG DETECTED

- Mr. Shailesha Barve resigned as Company Secretary & Compliance Officer, effective June 30, 2026, to pursue other opportunities. - Mr. Nagaraj Shrinivas Ronad has been appointed as the new Compliance Officer, effective July 1, 2026.

Governance Negative

2026-06-30 19:19

CRITICAL RED FLAG DETECTED

- Mr. Shailesha Barve resigned as Company Secretary & Compliance Officer, effective June 30, 2026, to pursue other opportunities. - Mr. Nagaraj Shrinivas Ronad was appointed as the Compliance Officer, effective July 1, 2026.

Routine Neutral

2026-06-25 17:43

- Trading window for dealing in company securities will close from July 1, 2026. - It will re-open 48 hours after the announcement of unaudited financial results for the quarter ended June 30, 2026. - This is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

Routine Neutral

2026-06-25 17:42

- Trading window to close from July 1, 2026, until 48 hours after Q1 FY27 (June 30, 2026) unaudited financial results are announced. - This is as per SEBI (PIT) Regulations, 2015, to prevent insider trading.

Governance Negative

2026-06-15 18:55

CRITICAL RED FLAG DETECTED

- Mr. N Devendiran, Chief Manufacturing Officer (CMO), resigned from his position for personal reasons, effective June 15, 2026. - Mr. Dinesh B Shenoy, General Manager – Solar Cells Manufacturing, will assume the responsibilities of the Chief Manufacturing Officer with immediate effect.

Governance Negative

2026-06-15 18:54

CRITICAL RED FLAG DETECTED

- Mr. N Devendiran, Chief Manufacturing Officer, has resigned due to personal reasons, effective June 15, 2026. - Mr. Dinesh B Shenoy, General Manager – Solar Cells Manufacturing, will be in-charge of the CMO responsibilities.

Business Update Neutral

2026-06-15 17:57

- Schedule of Analyst/Institutional Investor Meeting for a plant visit. - Date: June 30, 2026. - Location: Bengaluru. - The meeting will be in-person with a group of analysts/investors.

Business Update Positive

2026-06-15 17:56

- Schedule of Analyst/Institutional Investor Meeting - Event Type: Plant Visit by a group of analysts - Date: June 30, 2026 - Location: Bengaluru - Mode: In-Person

Business Update Neutral

2026-05-29 16:16

Emmvee Photovoltaic Power Limited announced its schedule for interactions with investors and analysts. The company will hold virtual group meetings with Sell side Brokers on June 03, 2026, and with Investors on June 04, 2026. Discussions will be based solely on publicly available information, and no Unpublished Price Sensitive Information (UPSI) will be shared.

Business Update Neutral

2026-05-18 14:24

Emmvee Photovoltaic Power Limited announced its participation in investor/analyst meetings. The company will meet Ambit India Access on May 26, 2026, and attend the 360 ONE Capital 16th Annual Investor Conference on May 27, 2026, both in Mumbai for physical group meetings. Discussions will be based on publicly available information, and no UPSI will be shared.

Routine Neutral

2026-05-05 17:04

New Filing detected. See link for details.

Business Update Neutral

2026-04-29 18:37

Emmvee Photovoltaic Power Limited announced the uploading of the audio recording of its Q4 & FY26 earnings conference call, held on April 29, 2026, at 4:00 PM (IST), to the company's website. The recording is available for investor information and dissemination.

Financials Positive

2026-04-28 21:16

Consolidated Revenue for FY2026 was ₹5,050 Cr vs ₹2,338 Cr (▲116% YoY), EBITDA ₹1,734 Cr vs ₹723 Cr (▲140% YoY), PAT ₹1,082 Cr vs ₹369 Cr (▲193% YoY). EBITDA Margin improved to 34% from 31% in FY2025 (▲300bps). The company also reported strong Q4 FY2026 results and significant capacity expansion plans, negative net debt, and credit rating upgrades.

Financials Positive

2026-04-28 20:53

Emmvee Photovoltaic Power Limited announced its audited consolidated financial results for the year ended March 31, 2026. Consolidated Revenue stood at ₹5,049.88 Cr vs ₹2,335.61 Cr (▲116% YoY), EBITDA was ₹1,734.37 Cr vs ₹721.94 Cr (▲140% YoY), and PAT was ₹1,081.55 Cr vs ₹369.01 Cr (▲193% YoY). EBITDA Margin expanded to 34.34% vs 30.91% (▲343 bps). The Board also recommended a final dividend of Re. 1 per equity share (50%) for FY 2025-26.

EMMVEE

Emmvee Photovoltaic Power Ltd

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