Fujiyama Power Systems Ltd
Founded in 2017, Fujiyama Power Systems Limited manufactures products and provides solutions in the rooftop solar industry, including on-grid, off-grid, and hybrid solar systems.[1]
- Market Cap ₹ 6,177 Cr.
- Current Price ₹ 202
- High / Low ₹ 231 / 194
- Stock P/E 33.0
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE 38.9 %
- ROE 49.1 %
- Face Value ₹ 1.00
Pros
- Company has delivered good profit growth of 70.9% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 31.3%
Cons
- 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 299 | 405 | 506 | 664 | 925 | 1,541 | |
| 272 | 367 | 461 | 612 | 826 | 1,292 | |
| Operating Profit | 28 | 38 | 45 | 52 | 99 | 249 |
| OPM % | 9% | 9% | 9% | 8% | 11% | 16% |
| 3 | 3 | 1 | 1 | 3 | 9 | |
| Interest | 2 | 2 | 5 | 16 | 26 | 27 |
| Depreciation | 13 | 13 | 1 | 6 | 13 | 18 |
| Profit before tax | 15 | 26 | 40 | 31 | 63 | 213 |
| Tax % | 29% | 25% | 28% | 23% | 28% | 27% |
| 11 | 20 | 29 | 24 | 45 | 156 | |
| EPS in Rs | 7.85 | 14.48 | 20.91 | 17.86 | 18.46 | 5.58 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 39% |
| 3 Years: | 45% |
| TTM: | 67% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 71% |
| 3 Years: | 76% |
| TTM: | 245% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 32% |
| 3 Years: | 31% |
| Last Year: | 49% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 14 | 14 | 25 | 28 | 28 |
| Reserves | 11 | 31 | 167 | 179 | 215 | 369 | 500 |
| 125 | 142 | 141 | 215 | 205 | 395 | 730 | |
| 46 | 55 | 77 | 106 | 166 | 222 | 332 | |
| Total Liabilities | 195 | 241 | 400 | 515 | 610 | 1,014 | 1,590 |
| 89 | 83 | 114 | 232 | 276 | 418 | 463 | |
| CWIP | 0 | 0 | 0 | 8 | 0 | 0 | 187 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 106 | 158 | 286 | 274 | 334 | 596 | 940 | |
| Total Assets | 195 | 241 | 400 | 515 | 610 | 1,014 | 1,590 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| -10 | -58 | 78 | 85 | 18 | ||
| -7 | -46 | -132 | -45 | -118 | ||
| 16 | 104 | 54 | -37 | 104 | ||
| Net Cash Flow | -2 | -0 | 0 | 4 | 4 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 44 | 41 | 28 | 16 | 26 | 17 |
| Inventory Days | 66 | 85 | 174 | 136 | 124 | 128 |
| Days Payable | 47 | 43 | 45 | 52 | 61 | 40 |
| Cash Conversion Cycle | 64 | 82 | 158 | 100 | 88 | 105 |
| Working Capital Days | 43 | 44 | 40 | 6 | 11 | 22 |
| ROCE % | 17% | 18% | 13% | 21% | 39% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
10 Dec - Audio recording of Q2/H1 results call (ended Sep 30, 2025) uploaded Dec 10, 2025.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 10 Dec
- Announcement under Regulation 30 (LODR)-Investor Presentation 8 Dec
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
8 Dec - Q2 revenue Rs5,679mn, EBITDA Rs1,030mn, PAT Rs629mn; IPO listed Nov 20, 2025; 1GW and 2GW expansions planned.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
8 Dec - Surya Kumar Yadav appointed Fujiyama Solar brand ambassador; press release dated Dec 8, 2025; nationwide promotional campaigns planned.
Annual reports
No data available.
Business Profile[1]
The company is a roof-top solar products manufacturer and solutions provider, operating in on-grid, off-grid, and hybrid solar categories. It manufactures solar panels, solar inverters (on-grid, off-grid, hybrid), lead-acid & lithium-ion batteries, and is backed by strong in-house R&D with 65 engineers. It has over 29 years of legacy under the brands ‘UTL Solar’ and ‘Fujiyama Solar’.