Fujiyama Power Systems Announces Audited Financial Results and Quarterly Performance for FY26
New Delhi, May 14, 2026 — Fujiyama Power Systems Limited, a key provider of rooftop solar solutions in India, today announced its audited annual financial results and limited reviewed quarterly financial results for the period ended March 31, 2026. The company operates with an extensive portfolio covering solar panels, inverters, lithium and tubular batteries, chargers, and power-electronics systems.Q4 and Full Year 2026 Financial Performance
The company reported significant growth across key financial metrics for the fourth quarter (Q4) and the full fiscal year (FY) 2026.The following table summarizes the financial performance in Rupees Million (Rs. Mn):
| Metric (Rs. Mn) | Q4 FY26 | Q4 FY25 | Y-o-Y Growth | Q3 FY26 | Q-o-Q Growth | FY26 | FY25 | Y-o-Y Growth |
|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 9,008 | 4,803 | 87.5% | 5,885 | 53.1% | 26,545 | 15,407 | 72.3% |
| EBITDA | 1,715 | 790 | 116.9% | 1,099 | 56.0% | 4,903 | 2,485 | 97.3% |
| EBITDA Margin% | 19.0% | 16.5% | 18.7% | 18.5% | 16.1% | |||
| PAT | 1,063 | 512 | 107.5% | 673 | 58.0% | 3,041 | 1,563 | 94.5% |
| PAT Margin% | 11.8% | 10.7% | 11.4% | 11.5% | 10.1% | |||
| EPS | 3.58 | 1.83 | 2.37 | 10.24 | 5.59 |
Operational and Market Highlights
During the quarter, Fujiyama Power Systems saw substantial expansion in its market reach and manufacturing capabilities.Key operational highlights include:
- Adding over 80 distributors, 450 dealers, and 30 exclusive Shoppes in Q4 FY2026.
- Commissioning 2,000 MW solar panel manufacturing capacity at Ratlam, Madhya Pradesh.
- Setting up a 1,200 MW TOPCon solar cell manufacturing facility at Ratlam, Madhya Pradesh, with an investment of approximately Rs. 350 crore.
As of March 31, 2026, the company's total channel partner base stood at more than 8,900, comprising distributors, dealers, and service engineers.
Management Commentary
Mr. Pawan Kumar Garg, Chairman and Joint Managing Director, commented on the financial outcomes, noting that FY2026 represents the company's first full year of financial reporting post becoming a listed entity.He stated that the demand environment for residential rooftop solar and power-backup solutions remains supportive, driven by increasing adoption in Tier-2 and Tier-3 cities, favorable government policies, and rising consumer preference.
Regarding profitability, Mr. Garg observed that the improvement in the EBITDA margin to 18.5% from 16.1% in the previous year reflects the benefits of higher operating scale, better utilization across manufacturing facilities, and increased contributions from backward-integrated operations.
On the technical and manufacturing front, the company confirmed the commissioning of the 2,000 MW solar panel manufacturing capacity in Ratlam. Further, the 1,200 MW TOPCon solar cell facility is being set up to complement existing capacities and support the company's expansion, particularly in the on-grid segment.
Mr. Garg also provided updates on planned capacities, noting that while the commissioning of power electronics and battery capacities at Ratlam faced initial delays due to incorporating advancements in lithium-ion battery technology and external supply chain factors, the Inverter manufacturing line is expected to be commissioned by Q1 FY27, with machinery already received. Machinery orders for batteries are expected to be commissioned by Q2 FY27.
Looking ahead, the company stated its focus will remain on expanding capacity, strengthening backward integration, enhancing operating efficiencies, and continuing to expand its distribution network while delivering high-quality solar solutions.
UTLSOLAR Stock Price Movement
Today, shares of Fujiyama Power Systems Limited edged higher, settling at ₹273.1, following a 5.00% gain. The stock recorded strong buying interest, finishing near the day's high, on a total volume of 299,365 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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