Emmvee Photovoltaic Power Ltd

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

Emmvee Photovoltaic Power Ltd

₹ 212 2.44%
17 Feb 12:12 p.m.
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 ₹ 14,678 Cr.
  • Current Price ₹ 212
  • High / Low ₹ 248 / 172
  • Stock P/E 27.5
  • Book Value ₹ 13.8
  • Dividend Yield 0.00 %
  • ROCE 28.0 %
  • ROE 105 %
  • Face Value ₹ 2.00
Edit ratios

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 55.3%

Cons

  • Stock is trading at 15.2 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company might be capitalizing the interest cost

* 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 BSE IPO

Edit Columns
Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2024 Dec 2024 Jun 2025 Sep 2025 Dec 2025
402 528 1,028 1,131 1,152
310 326 677 732 739
Operating Profit 93 202 350 399 413
OPM % 23% 38% 34% 35% 36%
11 10 14 18 16
Interest 17 37 53 55 33
Depreciation 23 54 72 71 74
Profit before tax 64 122 240 292 322
Tax % 45% 19% 22% 18% 18%
35 99 188 238 264
EPS in Rs 32.54 91.92 3.16 4.01 3.81
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
426 555 616 952 2,336
314 451 540 832 1,614
Operating Profit 113 104 76 120 722
OPM % 26% 19% 12% 13% 31%
2 12 19 3 25
Interest 62 49 27 34 108
Depreciation 52 42 39 42 156
Profit before tax 1 25 28 48 483
Tax % -1,064% 49% 17% 39% 24%
9 13 23 29 369
EPS in Rs 6.79 12.62 21.52 26.78 68.39
Dividend Payout % 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 61%
TTM: 145%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 234%
TTM: 1178%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: 39%
3 Years: 55%
Last Year: 105%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 11 11 11 11 11 119
Reserves 157 170 199 158 526 838
581 482 476 1,447 2,065 2,056
125 178 167 558 1,312 1,437
Total Liabilities 874 842 853 2,173 3,914 4,449
562 493 316 291 2,046 2,180
CWIP 6 14 114 646 13 156
Investments 1 1 1 0 257 150
305 334 423 1,237 1,598 1,963
Total Assets 874 842 853 2,173 3,914 4,449

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
97 129 59 234 614
-24 20 -131 -1,000 -986
-76 -84 80 894 408
Net Cash Flow -2 65 9 129 36

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 61 27 26 37 30
Inventory Days 101 107 148 197
Days Payable 34 50 77 91
Cash Conversion Cycle 61 94 83 108 136
Working Capital Days -28 -44 -1 -90 -38
ROCE % 9% 6% 7% 28%

Shareholding Pattern

Numbers in percentages

Dec 2025
80.03%
3.97%
12.50%
0.07%
3.43%
No. of Shareholders 1,01,005

* 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.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

No data available.

DRHP

Credit ratings

Concalls