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EMMVEE PHOTOVOLTAIC PWR L EMMVEE NIFTY_SMALLNSETECH

Technology · Solar · India
https://emmveepv.com
Company Profile ↓
₹325.20
+48.22% 1Y
Mkt Cap₹22,515.06 Cr
P/E18.94
P/B5.97
52W High₹365.35
52W Low₹172.93
Book Value₹53.37
EPS (TTM)₹17.17

Company Overview

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.

Why Investors Should Care

Strong Return on Equity

Generates a return on equity of 29.3%, reflecting efficient use of shareholder capital.

Healthy Capital Returns

Return on capital employed stands at 34.8%.

Consistent Profit Growth

Net profit has compounded at 394.6% per year over the last five years.

Steady Revenue Expansion

Revenue has grown at a 102.9% CAGR over the past five years.

Reasonable Valuation

Trades at a P/E of 18.9, below the sector median of 28.0.

Healthy Margins

Maintains a net profit margin of 21.4%.

Recent Developments

  • Mar 2026 Revenue of ₹5,049.88 Cr (+116.2% YoY); net profit ₹1,081.55 Cr.
  • Trailing 12 Months Year-on-year growth — revenue +116.2%, earnings +193.1%.
  • 5-Year Trend Long-term compounding — revenue CAGR 102.9%, profit CAGR 394.6%.

Growth & Price Performance

Compounded Sales Growth

5 Years:102.90%
1 Year:116.21%

Compounded Profit Growth

5 Years:394.60%
1 Year:193.09%

Stock Price Performance

1 Year:+48.22%
6 Months:+68.38%
3 Months:-2.98%
1 Month:-0.90%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

Technical Snapshot Mixed
52-Week Range 79% of range
₹172.93 ₹365.35
Trend Signals
  • Price vs 50-DMABelow
  • Price vs 200-DMAAbove
  • RSI (14)50.37 · Neutral
Price Performance
1M-0.90%
3M-2.98%
6M+68.38%
1Y+48.22%
Valuation vs Sector

P/E of 18.94 is below the sector median of 27.95 — relatively cheaper than peers.

Auto-generated from price history and fundamentals; not investment advice.

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Price Chart

NSE TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Strong return on equity of 29.3%.
  • Healthy ROCE of 34.8%.
  • Excellent profit margin of 21.4%.
  • Compounding revenue at 102.9% over 5 years.
  • Profit CAGR of 394.6% over 5 years.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
18.94
Industry PE
27.95
Forward P/E
11.50
PEG Ratio
-
Book Value
₹53.37
Price to Book
5.97
P/S
3.96
EV/EBITDA
11.45
Dividend Yield
0.00%

Growth (CAGR)

Revenue 5Y
102.90%
Profit 5Y
394.60%
Revenue (YoY)
116.21%
Earnings (YoY)
193.09%

Profitability & Returns

ROCE
34.80%
ROE
29.27%
ROA
18.74%
Profit Margin
21.42%
Op Margin
28.49%
Gross Margin
45.04%
EPS (Latest Qtr)
₹5.49
EPS (TTM)
₹17.17

Balance Sheet & Liquidity

Debt/Equity
0.10
Quick Ratio
0.91
Current Ratio
2.06
Debt
₹360.06 Cr
Total Assets
₹5,772.49 Cr
Current Assets
₹3,059.68 Cr
Working Capital
₹1,575.01 Cr

Ownership

Promoter Holding
80.03%
Chg in Prom Hold
0.00%
FII / Inst Holding
8.71%
Chg in FII Hold
0.03%

Financial Snapshot

Enterprise Value
₹22,515.06 Cr
Total Revenue (TTM)
₹5,049.88 Cr
EBITDA
₹1,787.89 Cr
Free Cash Flow
₹-453.18 Cr
Operating Cash Flow
₹200.14 Cr
Shares Outstanding
₹69.23 Cr
Gross Margin
45.04%
Payout Ratio
0.00%

Peer comparison

Peer companies in the same sector (Technology).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 EMMVEE EMMVEE PHOTOVOLTAIC PWR L NIFTY_SMALLNSETECH 325.20 18.94 ₹22,515.06 Cr 0.00% 34.80% 29.27% 102.90% 394.60%
2 TCS Tata Consultancy Services Limited NIFTY50NSEAITECH 2,304.00 16.94 ₹8.34 L Cr 2.74% 54.93% 45.89% 5.80% 5.30%
3 INFY Infosys Limited NIFTY50NSEAITECH 1,130.00 1,412.50 ₹4.58 L Cr 4.29% 41.66% 33.85% 3.44% 3.58%
4 HCLTECH HCL Technologies Limited NIFTY50NSEAITECH 1,293.40 21.08 ₹3.51 L Cr 4.49% 27.21% 22.14% 8.65% 3.87%
5 WIPRO Wipro Limited NIFTY50NSEAITECH 176.40 14.04 ₹1.85 L Cr 4.30% 17.85% 14.91% 0.78% 5.16%
6 TECHM Tech Mahindra Limited NIFTY50NSEAITECH 1,596.90 29.47 ₹1.56 L Cr 3.12% 19.82% 16.24% 2.16% -0.14%
7 LTM LTM Limited NSETECH 4,554.00 26.93 ₹1.35 L Cr 1.66% 25.39% 20.89% 8.43% 4.41%
8 LGEINDIA LG ELECTRONICS INDIA LTD NIFTY_MIDNSETECH 1,640.70 66.08 ₹1.11 L Cr 0.00% 27.64% 21.98% 1.25% -
9 PAYTM One97 Communications Limited NIFTY_MIDNSEAITECH 1,659.50 194.09 ₹1.06 L Cr 0.00% 3.68% 3.45% 2.20% 43.71%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in INR.

Metric Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue 402.00 Cr528.00 Cr1,071.68 Cr1,027.82 Cr1,131.00 Cr1,152.25 Cr1,738.81 Cr1,555.52 Cr
Cost of Revenue --620.55 Cr559.41 Cr594.83 Cr608.53 Cr1,012.75 Cr878.18 Cr
Gross Profit --451.12 Cr468.41 Cr536.16 Cr543.72 Cr726.06 Cr677.33 Cr
Operating Expenses 310.00 Cr326.00 Cr155.98 Cr189.51 Cr207.64 Cr204.34 Cr234.13 Cr213.13 Cr
Operating Income 70.00 Cr148.00 Cr295.15 Cr278.90 Cr328.52 Cr339.38 Cr491.93 Cr464.21 Cr
EBITDA 93.00 Cr202.00 Cr363.91 Cr364.90 Cr417.78 Cr429.07 Cr576.14 Cr564.58 Cr
Interest Expense 17.00 Cr37.00 Cr45.86 Cr53.11 Cr55.25 Cr33.27 Cr13.03 Cr11.08 Cr
Pretax Income 64.00 Cr122.00 Cr252.54 Cr240.19 Cr291.67 Cr321.80 Cr483.94 Cr469.61 Cr
Tax Provision 28.80 Cr23.18 Cr45.40 Cr52.52 Cr53.81 Cr58.16 Cr91.56 Cr89.32 Cr
Net Income 35.00 Cr99.00 Cr207.14 Cr187.67 Cr237.86 Cr263.64 Cr392.38 Cr380.29 Cr
Diluted EPS 32.5491.922.992.713.444.115.675.49

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue 555.00 Cr424.00 Cr555.00 Cr604.58 Cr941.54 Cr2,335.61 Cr5,049.88 Cr
Cost of Revenue ---506.52 Cr759.95 Cr1,402.32 Cr2,775.52 Cr
Gross Profit ---98.06 Cr181.59 Cr933.30 Cr2,274.36 Cr
Operating Expenses 451.00 Cr312.00 Cr451.00 Cr81.09 Cr70.24 Cr367.31 Cr835.62 Cr
Operating Income 66.00 Cr61.00 Cr62.00 Cr16.97 Cr111.35 Cr565.99 Cr1,438.74 Cr
EBITDA 105.00 Cr113.00 Cr104.00 Cr80.00 Cr119.05 Cr746.65 Cr1,787.89 Cr
Interest Expense 65.00 Cr62.00 Cr49.00 Cr25.64 Cr29.61 Cr107.88 Cr154.66 Cr
Pretax Income 9.00 Cr1.00 Cr25.00 Cr11.67 Cr47.62 Cr482.82 Cr1,337.60 Cr
Tax Provision -3.96 Cr-10.64 Cr12.25 Cr2.70 Cr18.72 Cr113.81 Cr256.04 Cr
Net Income 14.00 Cr9.00 Cr13.00 Cr8.94 Cr28.90 Cr369.01 Cr1,081.55 Cr
Diluted EPS 12.618.6312.620.130.425.3317.17

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets 873.00 Cr874.00 Cr842.00 Cr840.79 Cr2,189.99 Cr3,913.93 Cr5,772.49 Cr
Current Assets ---316.33 Cr990.69 Cr1,685.00 Cr3,059.68 Cr
Cash & Equivalents ---53.46 Cr182.35 Cr218.64 Cr242.62 Cr
Inventory ---141.39 Cr306.20 Cr758.36 Cr1,710.55 Cr
Receivables ---69.11 Cr96.13 Cr190.27 Cr695.02 Cr
Total Liabilities ---700.29 Cr2,021.23 Cr3,377.14 Cr2,077.55 Cr
Current Liabilities ---302.92 Cr703.90 Cr1,349.81 Cr1,484.67 Cr
Long Term Debt ---374.63 Cr1,174.13 Cr1,688.87 Cr48.95 Cr
Total Debt 570.00 Cr603.00 Cr482.00 Cr524.35 Cr1,446.87 Cr2,065.25 Cr360.06 Cr
Total Equity 170.00 Cr179.00 Cr181.00 Cr140.50 Cr168.76 Cr536.80 Cr3,694.94 Cr
Shares Outstanding ---69.23 Cr69.23 Cr69.23 Cr69.23 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow 181.00 Cr75.00 Cr129.00 Cr59.48 Cr234.46 Cr624.90 Cr200.14 Cr
Investing Cash Flow -16.00 Cr-24.00 Cr20.00 Cr-130.68 Cr-1,000.05 Cr-985.66 Cr-304.14 Cr
Financing Cash Flow -219.00 Cr-54.00 Cr-84.00 Cr79.83 Cr894.45 Cr396.99 Cr130.35 Cr
Capital Expenditure -31.00 Cr-21.00 Cr18.00 Cr-444.57 Cr-674.59 Cr-988.47 Cr-653.32 Cr
Free Cash Flow 150.00 Cr54.00 Cr147.00 Cr-385.09 Cr-440.13 Cr-363.57 Cr-453.18 Cr
Net Change in Cash -55.00 Cr-2.00 Cr65.00 Cr8.63 Cr128.86 Cr36.22 Cr26.34 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % ---16.2%19.3%40.0%45.0%
Operating Margin % 11.9%14.4%11.2%2.8%11.8%24.2%28.5%
Net Margin % 2.5%2.1%2.3%1.5%3.1%15.8%21.4%
ROE % 8.2%5.0%7.2%6.4%17.1%68.7%29.3%
ROCE % ---3.2%7.5%22.1%33.6%

Shareholding Pattern

Insiders
80.03%
Institutions
8.71%
Public Float
43.63%

Analyst View

Loading analyst coverage…

Latest News

Recent headlines for EMMVEE

Google News Sun, 06 Sep 2026

Emmvee Q1FY27 PAT surges 103% on record volumes - scanx.trade

<a href="https://news.google.com/rss/articles/CBMiswFBVV95cUxNdmFCV0lINU5tVWRDVVVNLWtsYm11TjFGNE5HS1RTTlEtb0UzWjR0a1p4VlRKNGN0dmwtb24xQ25NRTNNelpkNDg5ZFV2Nzh4Z0NkZ3RMQUhTaWo2NHhHNjBSbWVST0VqZkVTSlBLbUlrZTFrOG5BSWNNcmZIVE8xaHA3WFItZHIxVWRUeX…

Google News hu, 20 Aug 2026

Jefferies raises Emmvee Photovoltaic Power target price to Rs 440: Can the stock rally further? - The Economic Times

<a href="https://news.google.com/rss/articles/CBMi-wFBVV95cUxPNkpzcC10cGRLVjdGYWVPdDR0TWhJcWtBaldtNFhMb1AxMjRVQWdxcGc3aTM2OC1pX1VrMURSTGFfY19PbjRnZHpkSFdRZU1NRW1lOXFSTzM5WTVFWVJhUFl6R3hUTTlzS1lDbHdidTE2dm94Z0tQamo2WTRBWE5MNS1qNEhVOGU2MkVScW…

Google News Sat, 18 Jul 2026

Emmvee Photovoltaic Power Limited Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions - simplywall.st

<a href="https://news.google.com/rss/articles/CBMi7AFBVV95cUxNbWdodk9BaTY1WVlJNkhoMFYxeFE0WkxYUjlyUnp2Y3hRLVBQNXB6WHZ1S1RXbTl1ZGpvWEU4ZEN1ZWNWMXkwalBCYW9iWVNOOEFJQVpsRnR5UC11bmh3Y0txVEVDSzFQMmluMXRKb1daLTBoMUR1RHFuc2oxeXpFMmw2aDVTS053TnpJZX…

Google News hu, 16 Jul 2026

Emmvee Photovoltaic zooms 110% from March low; what's driving stock? - Business Standard

<a href="https://news.google.com/rss/articles/CBMizAFBVV95cUxNOEpSNVNWVURSY19vSVdkZTZEV1dWdzFxMS1ORUdkOHdsTkdsdU51QjJKSC1iQU12OXpmMlVqTzEtX09FWm1KZmw2Z1hwTEVXQmFhNjc0Wlc0eTBlZkhMbWkwUG9PTDhIa2ZXUUhjNW00Q3BadnpNUUp2aEM3UEYtQldaWjMxeDVTTmV4dz…

Google News hu, 20 Aug 2026

This renewable energy player's valuation discount prompted Jefferies to raise its price target; stock jumps 5% - CNBC TV18

<a href="https://news.google.com/rss/articles/CBMi-gFBVV95cUxQOG5mcjRXaHFoVUV2UDhKSmRDLU5BdUdKbzBlOXZBekxrdEVSYWNjWmZBYXBEdjA1WnE1Q0VYUVRPamNuN0tqOWJCeWR1ZzM5RENlNV9Ibmk1a1hnalgwOGp0SVZ5MUdiYy05eXZnODhsa2swU2plbS1QT21DMGlqY19iUUtISHVYYUdTUV…

Google News ue, 28 Apr 2026

Emmvee Photovoltaic shares hit fresh high as Jefferies recommends 'Buy' after Q4 results, check price target - TradingView

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EMMVEE — Frequently Asked Questions

What is the current share price of EMMVEE PHOTOVOLTAIC PWR L (EMMVEE)?

As of 2026-09-08 04:53 IST, EMMVEE PHOTOVOLTAIC PWR L (EMMVEE) trades at ₹325.20 on NSE. Its 52-week range is ₹172.93 to ₹365.35.

What is the market capitalisation of EMMVEE?

EMMVEE PHOTOVOLTAIC PWR L (EMMVEE) has a market capitalisation of ₹22,515.06 Cr on NSE.

What is the P/E ratio of EMMVEE?

EMMVEE trades at a trailing price-to-earnings (P/E) ratio of 18.94. The industry average P/E is 27.95. Its price-to-book (P/B) ratio is 5.97.

What is the return on equity (ROE) of EMMVEE?

EMMVEE has a return on equity (ROE) of 29.27%. Its return on capital employed (ROCE) is 34.80%.

Is EMMVEE a good stock to buy?

This page provides a data-driven analysis of EMMVEE PHOTOVOLTAIC PWR L (EMMVEE), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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