EMMVEE · NSE
Emmvee Photovoltaic Power Limited
₹328
+0.77% (+₹2.5)
Prev. close
₹325.5
Volume
9,74,170
Delivery %
47.0%
As of
18 Sept 2026
Price history
Jefferies Analysis · Jefferies · 01 Sept 2026
“Bullish on Emmvee Photovoltaic with a target price of ₹440 per share, indicating a 36.8% upside. Jefferies expects Emmvee to achieve industry-leading profitability over FY27-30 as the ingot/wafer shortage likely resolves by FY29-30. The stock is in an earnings upgrade cycle supported by its orderbook, with a projected 33% EBITDA CAGR over FY26-29.”
Published mid-session at 12:34 IST. Tracking counts only prices printed after publication — the chart's dashed divider marks that moment; earlier prices never count toward entry or results.
Analyst sentiment
Analysts lean bullish
1 analyst stance · last 90 days · one per analyst
Trackable
1 · 1 bull / 0 neutral / 0 bear
Long-Horizon
none in window
Commentary
none in window
Trackable = verdict-bearing calls · Long-Horizon = 1yr+ horizon, verdict pending · Commentary = context, not graded
Analyst opinions
| Call | Analyst | Instrument | Verdict | Actions | |||
|---|---|---|---|---|---|---|---|
| “Bullish on Emmvee Photovoltaic with a target price of ₹440 per share, indicating a 36.8% upside. Jefferies expects Emmve…” | Jefferies AnalysisJefferies | Emmvee Photovoltaic | PENDING | ||||
“Bullish on Emmvee Photovoltaic with a target price of ₹440 per share, indicating a 36.8% upside. Jefferies expects Emmvee to achieve industry-leading profitability over FY27-30 as the ingot/wafer shortage likely resolves by FY29-30. The stock is in an earnings upgrade cycle supported by its orderbook, with a projected 33% EBITDA CAGR over FY26-29.” This call hasn't reached its evaluation window yet — the verdict will appear here once it's graded. | |||||||
Fundamentals
About Emmvee Photovoltaic Power Limited
Emmvee Photovoltaic Power Limited manufactures and sales solar cells, photovoltaic modules, and photovoltaic systems across India and Europe. Its products include TopCon Photovoltaic Module and TopCon Photovoltaic cells. It also executes grid and off-grid photovoltaic power projects on a turnkey basis and operates solar power plants. The company serves independent power producers, entities operating in the commercial and industrial sector, and engineering, procurement and construction service providers in both public and private sectors. The company was incorporated in 2007 and is based in Bengaluru, India.
Details
Sector
Technology
Industry
Solar
CEO
Mr. Suhas Donthi Manjunatha
Headquarters
Bengaluru
Website
emmveepv.comExchange
View on NSE ↗Key stats
Market cap
₹22,708.92 Cr
P/E ratio (TTM)
17.8
Dividend yield
0.31%
EPS (TTM)
₹18.39
Beta (1Y · daily vs NIFTY 50)
1.06
Shares float
13.83 Cr
EPS · quarter ended Jun 2026
₹5.49
Financial Performance
01 · Financials
FY21 growth needs FY20 filings, which the data source doesn't provide. EBITDA is omitted from this chart: coverage begins inside the plotted window, and every plotted period must carry a complete point set — the P&L table below has the available figures.
02 · Earnings Per Share (EPS)
03 · Dividend Profile
Growth compares completed fiscal-year dividend totals on the company's own calendar: April–March (Indian FY), taken from its reported period-ends. Payout ledger: NSE corporate actions.
04 · Operating Efficiency (Growth Rates)
Balance-sheet-based · pre-FY23 not filed in verifiable form
05 · Capital Structure & Asset Utilization
Pre-FY23 not filed in verifiable form
Asset turnover needs a prior year of assets — omitted for the earliest available year.
06 · Asset Base Composition
Pre-FY23 not filed in verifiable form
07 · Debt Level & Coverage
Pre-FY23 not filed in verifiable form
08 · Profit & Loss
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| — | — | ₹604.58 Cr | ₹941.54 Cr | ₹2,325.63 Cr | ₹5,049.88 Cr | |
| EBITDA | — | — | ₹80.00 Cr | ₹119.05 Cr | ₹739.03 Cr | ₹1,787.89 Cr |
| ₹9.00 Cr | ₹14.00 Cr | ₹8.94 Cr | ₹28.90 Cr | ₹369.01 Cr | ₹1,081.55 Cr | |
| Diluted EPS | — | — | ₹0.13 | ₹0.42 | ₹5.33 | ₹17.17 |
Revenue, Total expenses (as filed), Employee benefit expense, Other expenses, EBITDA, Tax provision, Other income, Diluted EPS have filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
09 · Balance Sheet
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹874.00 Cr | ₹842.00 Cr | ₹838.00 Cr | ₹2,173.00 Cr | ₹3,914.00 Cr | ₹5,772.00 Cr | |
| — | — | ₹524.35 Cr | ₹1,446.87 Cr | ₹2,065.25 Cr | ₹360.06 Cr | |
| Stockholders' equity | ₹179.00 Cr | ₹181.00 Cr | ₹141.00 Cr | ₹169.00 Cr | ₹537.00 Cr | ₹3,694.00 Cr |
Current assets, Inventory, Trade receivables, Cash & equivalents, Non-current assets, CWIP, Others, Total debt, Long-term debt, Current (short-term) debt have filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
Annual only — the data source doesn’t publish quarterly balance-sheet detail for most NSE-listed companies.
10 · Cash Flow Statement
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹75.00 Cr | ₹129.00 Cr | ₹59.00 Cr | ₹234.00 Cr | ₹614.00 Cr | ₹200.00 Cr | |
| Investing cash flow | — | — | ₹-130.68 Cr | ₹-1,000.05 Cr | ₹-985.66 Cr | ₹-304.14 Cr |
| ₹54.00 Cr | ₹84.00 Cr | ₹80.00 Cr | ₹894.00 Cr | ₹408.00 Cr | ₹130.00 Cr | |
| Capital expenditure | ₹-21.00 Cr | ₹-114.00 Cr | ₹-445.00 Cr | ₹-675.00 Cr | ₹-988.00 Cr | ₹-653.00 Cr |
| End cash position | — | — | ₹53.46 Cr | ₹182.35 Cr | ₹218.64 Cr | ₹242.55 Cr |
Investing cash flow, Dividends paid, End cash position have filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
Annual only — the data source has no quarterly cash-flow-statement coverage.
11 · Shareholding Pattern
NSE, quarterly
| Line item | Nov 25–Jun 26(4Q) |
|---|---|
| Promoter | 80.03% |
| Public | 19.97% |
| Employee trusts | 0.00% |
Source: NSE quarterly shareholding-pattern filings, collapsed to periods where the reported percentages held steady — a column spanning several quarters means no change was filed across them. No FII/DII sub-split available from this source — Public includes all non-promoter, non-employee-trust holders.
12 · Peer Comparison
Technology
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| Tata Consultancy Services Limited | ₹7.92 L Cr | ₹2,105 | 15.9 | 7.39 | 45.9% | 0.11 | +4.6% | -33.7% |
| Infosys Limited | ₹4.20 L Cr | ₹1,037.7 | 13.5 | — | 33.9% | 0.10 | +4.6% | -31.2% |
| HCL Technologies Limited | ₹3.40 L Cr | ₹1,249.3 | 19.5 | 4.53 | 22.1% | 0.07 | +11.2% | -16.4% |
| Wipro Limited | ₹1.65 L Cr | ₹166.4 | 13.5 | 1.86 | 14.9% | 0.23 | +4.0% | -34.5% |
| Tech Mahindra Limited | ₹1.38 L Cr | ₹1,537.1 | 27.0 | 4.67 | 16.2% | 0.07 | +7.2% | -0.9% |
| LTM Limited | ₹1.26 L Cr | ₹4,275.1 | 24.2 | 5.26 | 20.9% | 0.10 | +11.3% | — |
| One 97 Communications Limited | ₹1.13 L Cr | ₹1,849.9 | 175.9 | 7.05 | 3.5% | 0.01 | +21.5% | +50.5% |
| LG Electronics India Limited | ₹1.11 L Cr | ₹1,652.9 | 60.6 | 14.42 | 22.0% | 0.06 | +1.3% | — |
| Oracle Financial Services Software Limited | ₹1.01 L Cr | ₹11,896 | 29.7 | 12.93 | 33.7% | 0.00 | +12.1% | +29.7% |
| Persistent Systems Limited | ₹85,505.25 Cr | ₹5,416 | 44.7 | 10.91 | 23.8% | 0.06 | +23.5% | -2.7% |
| Dixon Technologies (India) Limited | ₹80,805.72 Cr | ₹13,005 | 43.3 | 17.28 | 30.8% | 0.21 | +25.8% | -29.1% |
| Emmvee Photovoltaic Power Limited | ₹22,272.74 Cr | ₹325.5 | 17.5 | 6.03 | 29.3% | 0.10 | +116.5% | — |
Ranked by market cap within Technology, same metrics as the Fundamentals screener. Click a column to sort.
Documents
IPO documents
Annual reports
Concall transcripts
Official documents linked from their sources — offer documents as filed with SEBI (sebi.gov.in), annual reports and earnings-call transcripts as published on BSE (bseindia.com) and NSE (nseindia.com). Links open the source's own hosting; nothing is re-hosted here.
Index membership
10 indices
Weight is a free-float market-cap-share estimate from NSE’s live index data, not NSE’s own published (and sometimes capped) index weight. Indices without a live weight feed are listed without one, in alphabetical order after the weighted ones.