Emmvee Photovoltaic Power Ltd

Emmvee Photovol. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Emmvee Photovoltaic Power Ltd

₹ 268 1.09%
08 May - close price
emmveepv.com BSE: 544608 NSE: EMMVEE
About

Incorporated in March 2007, Emmvee Photovoltaic Power Limited is an integrated solar PV module and cell manufacturer.[1]

Key Points

Business Profile[1][2]
The Co. is an integrated solar PV player, focused on solar module manufacturing and also producing TOPCon solar cells, and is India’s 2nd pure-play integrated cell-and-module manufacturers by capacity.

Website BSE NSE
  • Market Cap ₹ 18,541 Cr.
  • Current Price ₹ 268
  • High / Low ₹ 300 / 172
  • Stock P/E 119
  • Book Value ₹ 38.7
  • Dividend Yield 0.00 %
  • ROCE 13.2 %
  • ROE 9.98 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 115% CAGR over last 5 years

Cons

  • Earnings include an other income of Rs.113 Cr.
  • Debtor days have increased from 38.0 to 61.1 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Electrical Equipment Other Electrical Equipment

Part of Nifty 500 BSE IPO BSE Industrials Nifty MidSmallcap 400 Nifty Smallcap 250

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
457 356 544 445 277 81 271
352 297 533 328 256 88 273
Operating Profit 105 59 11 117 21 -7 -2
OPM % 23% 17% 2% 26% 8% -8% -1%
-1,753 7 8 12 18 33 49
Interest 6 5 7 3 3 1 1
Depreciation 7 7 15 6 6 6 5
Profit before tax -1,661 54 -3 121 30 20 42
Tax % 2% 27% -107% 25% 26% 29% 29%
-1,692 40 0 90 22 14 29
EPS in Rs -1,567.91 36.69 0.04 1.52 0.37 0.20 0.42
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
491 363 506 705 1,232 1,763 1,075
435 299 443 636 1,048 1,502 944
Operating Profit 56 64 63 70 183 262 130
OPM % 11% 18% 13% 10% 15% 15% 12%
9 2 10 19 12 29 113
Interest 34 34 32 26 31 27 8
Depreciation 28 30 26 36 38 41 23
Profit before tax 3 3 15 27 126 223 212
Tax % -55% -34% 44% 17% 26% 27% 26%
4 3 9 23 94 162 156
EPS in Rs 3.80 3.10 7.91 20.99 86.75 30.01 2.25
Dividend Payout % 0% 0% 0% 0% 0% 0% 44%
Compounded Sales Growth
10 Years: %
5 Years: 24%
3 Years: 15%
TTM: -39%
Compounded Profit Growth
10 Years: %
5 Years: 115%
3 Years: 157%
TTM: -4%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: 17%
3 Years: 19%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 11 11 11 11 11 11 138
Reserves 161 165 173 196 271 432 2,540
264 298 269 237 361 167 54
124 94 165 168 424 407 255
Total Liabilities 560 567 619 611 1,067 1,017 2,988
153 136 216 221 198 139 113
CWIP 1 6 14 0 2 0 1
Investments 100 100 64 3 53 116 153
305 325 324 387 814 762 2,720
Total Assets 560 567 619 611 1,067 1,017 2,988

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
68 16 115 33 209 351 -46
-2 -19 -43 -13 -256 -95 -1,860
-92 2 -37 -42 47 -223 1,938
Net Cash Flow -25 -1 36 -23 -0 33 32
Free Cash Flow 45 12 26 -7 227 354 -40
CFO/OP 125% 25% 181% 48% 122% 158% 29%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 64 80 28 23 34 19 61
Inventory Days 73 144 88 148 56 45
Days Payable 59 76 41 76 32 47
Cash Conversion Cycle 79 149 28 69 106 43 59
Working Capital Days -14 -5 -62 0 -51 -39 12
ROCE % 8% 9% 8% 29% 40% 13%

Insights

In beta
Mar 2023 Mar 2024 Mar 2025
Actual Production - Solar Cells
MW

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Actual Production - Solar PV Modules
MW
Capacity Utilization - Solar Cells
%
Capacity Utilization - Solar PV Modules
%
Installed Capacity - Solar Cells
MW
Installed Capacity - Solar PV Modules
MW
Order Book
MW

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Dec 2025Mar 2026
80.03% 80.03%
3.97% 2.45%
12.50% 12.28%
0.07% 0.00%
3.43% 5.24%
No. of Shareholders 1,01,00593,389

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

Annual reports

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