Fujiyama Power Systems Posts Strong Q1 FY27 Results; Revenue Jumps 125.3% as Capacity Expansions Continue

Fujiyama Power Systems Posts Strong Q1 FY27 Results; Revenue Jumps 125.3% as Capacity Expansions Continue​

New Delhi: Fujiyama Power Systems Limited, a key provider of rooftop solar solutions across India, has announced its unaudited financial results for the first quarter of fiscal year 2027 (Q1 FY27), ending June 30, 2026. The company reported substantial growth in revenue and EBITDA, driven by expanded operations and strategic network building.

The results reflect a period of aggressive capacity commissioning and significant expansion of its distribution footprint. Fujiyama Power Systems continues to serve the residential rooftop solar segment, supporting strong demand across Tier-2 and Tier-3 markets.

Q1 FY27 Financial Performance​

For Q1 FY27, the company achieved robust financial metrics against the previous year's quarter (Q1 FY26). Revenue from Operations surged by 125.3% year-on-year (YoY) to reach Rs. 13,457 million. EBITDA grew by 140.6% YoY to Rs. 2,548 million, improving the EBITDA margin to 18.9%.

The financial performance metrics for Q1 FY27 compared across multiple quarters are presented below:

Manufacturing and Distribution Expansion​

The company significantly advanced its manufacturing capabilities during the quarter. Fujiyama commissioned a 2,000 MW solar panel manufacturing capacity at Ratlam in Q1 FY27. This was followed by the commissioning of a 2,000 MW power electronics manufacturing facility in August 2026.

The strategic expansion of facilities continues, with the 2,000 MW lithium-ion battery manufacturing capacity at Ratlam expected to be commissioned by Q2 FY27. Furthermore, Fujiyama is investing in backward integration, planning to set up a 1,200 MW solar cell manufacturing facility at Ratlam with an investment of approximately Rs. 350 crore.

On the distribution front, the company achieved one of its largest quarterly expansions in Q1 FY27. Over 1,000 dealers, 80 distributors, and more than 30 exclusive shoppes were added, bringing the total channel partner base to over 10,100 as of June 30, 2026.

Deepening Backward Integration​

In a move toward strengthening its supply chain and increasing internal integration, Fujiyama Power Systems approved the acquisition of an additional 31% stake each in Zayo Energy Private Limited and Zayo Cables Private Limited. This investment increases the company’s shareholding in both firms from 19% to 50%.

Zayo Energy is involved in manufacturing solar module components such as aluminum frame, PV Ribbon wire, busbar, and solder wires. Zayo Cables focuses on components like PV junction box, solar cables, and EVA sheet, all of which are closely aligned with Fujiyama's existing product portfolio. This strategic move aims to provide greater control over essential components used across the company's solar power solutions business.

Mr. Pawan Kumar Garg, Chairman and Joint Managing Director of Fujiyama Power Systems Limited, commented on the performance, noting that the first quarter marked a positive start characterized by increased business scale and progress in manufacturing initiatives. He highlighted that the improvement in profitability was supported by the higher scale of operations and increasing contributions from the company’s backward integrated manufacturing platform.

UTLSOLAR Stock Price Movement​

On Thursday, shares of Fujiyama Power Systems Ltd surged to close at ₹409.90 after gaining 5.40% from previous levels. The rally saw significant investor interest with a volume of 880,208 shares traded, pushing the stock into contention near its 52-week high of ₹424.8.