Emmvee Photovoltaic Power Ltd
Emmvee Photovoltaic Power Ltd
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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45 extracted metrics + investor summaries across FY20–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
4- Company has reduced debt.
- Company is expected to give good quarter
- Company has delivered good profit growth of 158% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 56.4%
Weaknesses
2- Debtor days have increased from 38.9 to 50.2 days.
- Working capital days have increased from -13.3 days to 88.3 days
Growth Rate
AI Analysis — Bull vs Bear
Emmvee Photovoltaic Power Ltd is a capital goods company in the solar energy space with a market cap of ₹22,432 Cr, trading at a PE of 17.6x. The company has delivered exceptional profit growth of 158% CAGR over 5 years and maintains a 3-year ROE of 56%, though working capital days have deteriorated significantly from -13.3 to 88.3 days.
- Exceptional 5-year compounded profit growth of 158% CAGR indicates strong earnings momentum in the solar manufacturing space
- 3-year ROE of 56% and 5-year ROE of 51% demonstrate highly efficient capital allocation relative to peers in capital goods
- TTM sales growth of 84% and 3-year compounded sales CAGR of 101% show rapid revenue scale-up
- PE ratio of 17.6x appears moderate for a company delivering triple-digit profit growth, suggesting potential valuation headroom
- Company has actively reduced debt, improving balance sheet strength and lowering financial risk
- TTM profit growth of 141% indicates continued acceleration in earnings even on a higher base
- Dividend yield of 0.31% signals management confidence in cash flow sustainability while reinvesting for growth
- Company is expected to deliver a good upcoming quarter, suggesting near-term earnings visibility remains intact
- Working capital days have deteriorated sharply from -13.3 days to 88.3 days, indicating a significant shift in cash conversion efficiency
- Debtor days increased from 38.9 to 50.2 days, suggesting slower collections and potential credit risk from customers
- Price-to-book ratio of 6.09x is elevated, leaving limited margin of safety if growth slows
- ROE and ROCE data for the latest period are unavailable, making it difficult to confirm whether capital efficiency is being maintained at scale
- 52-week high and low data are unavailable, limiting visibility on recent price volatility and drawdown risk
- Solar manufacturing is a capital-intensive sector with policy dependence; any shift in government subsidies or import duties could impact margins
- The 101-day swing in working capital (from -13.3 to 88.3 days) implies the company is now funding significantly more inventory or receivables, pressuring free cash flow
- Lack of 10-year historical data on sales and profit CAGR limits ability to assess long-term consistency through full business cycles
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Q1FY27 earnings call scheduled Jul 13
Emmvee Photovoltaic Power will host its Q1FY27 earnings call on July 16, 2026. Investors can join via audio conference.
TL;DR: Limited recent news flow for Emmvee Photovoltaic Power with only an upcoming earnings call announcement. No identifiable headwinds or positive catalysts from current coverage. The Q1FY27 results on Jul 16 will be the next key data point to watch for directional clarity.
Quarterly Results
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 402 | 528 | 1,072 | 1,028 | 1,131 | 1,152 | 1,739 | 1,556 |
| Expenses | 310 | 326 | 711 | 677 | 732 | 739 | 1,168 | 1,007 |
| Operating Profit | 93 | 202 | 361 | 350 | 399 | 413 | 571 | 548 |
| OPM % | 23% | 38% | 34% | 34% | 35% | 36% | 33% | 35% |
| Other Income | 11 | 10 | 3 | 14 | 18 | 16 | 5 | 16 |
| Interest | 17 | 37 | 46 | 53 | 55 | 33 | 13 | 11 |
| Depreciation | 23 | 54 | 66 | 72 | 71 | 74 | 79 | 84 |
| PBT | 64 | 122 | 253 | 240 | 292 | 322 | 484 | 470 |
| Tax % | 45% | 19% | 18% | 22% | 18% | 18% | 19% | 19% |
| Net Profit | 35 | 99 | 207 | 188 | 238 | 264 | 392 | 380 |
| EPS in Rs | 32.54 | 91.92 | 38.39 | 3.16 | 4.01 | 3.81 | 5.67 | 5.49 |
Profit & Loss
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 555 | 424 | 555 | 618 | 952 | 2,336 | 5,050 | 5,578 |
| Expenses | 451 | 312 | 451 | 562 | 832 | 1,614 | 3,316 | 3,646 |
| Operating Profit | 105 | 113 | 104 | 56 | 120 | 722 | 1,734 | 1,932 |
| OPM % | 19% | 27% | 19% | 9% | 13% | 31% | 34% | 35% |
| Other Income | 9 | 2 | 12 | 26 | 3 | 25 | 54 | 56 |
| Interest | 65 | 62 | 49 | 28 | 34 | 108 | 155 | 113 |
| Depreciation | 39 | 52 | 42 | 43 | 42 | 156 | 296 | 308 |
| PBT | 9 | 1 | 25 | 12 | 48 | 483 | 1,338 | 1,567 |
| Tax % | -44% | -1064% | 49% | 23% | 39% | 24% | 19% | — |
| Net Profit | 14 | 9 | 13 | 9 | 29 | 369 | 1,082 | 1,274 |
| EPS in Rs | 12.61 | 8.63 | 12.62 | 8.28 | 26.78 | 68.39 | 15.62 | 18.98 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 6% | — |
Balance Sheet
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 138 |
| Reserves | 159 | 168 | 170 | 130 | 158 | 526 | 3,556 |
| Borrowings | 570 | 603 | 482 | 524 | 1,447 | 2,065 | 360 |
| Other Liabilities | 134 | 93 | 178 | 173 | 558 | 1,312 | 1,717 |
| Total Liabilities | 873 | 874 | 842 | 838 | 2,173 | 3,914 | 5,772 |
| Fixed Assets | 593 | 562 | 493 | 323 | 291 | 2,046 | 2,634 |
| CWIP | 1 | 6 | 14 | 93 | 646 | 13 | 10 |
| Investments | 1 | 1 | 1 | 0 | 0 | 257 | 57 |
| Other Assets | 279 | 305 | 334 | 421 | 1,237 | 1,598 | 3,072 |
| Total Assets | 873 | 874 | 842 | 838 | 2,173 | 3,914 | 5,772 |
Cash Flow
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Operating | 181 | 75 | 129 | 59 | 234 | 614 | 200 |
| Investing | -16 | -24 | 20 | -131 | -1,000 | -986 | -304 |
| Financing | -219 | -54 | -84 | 80 | 894 | 408 | 130 |
| Net Cash Flow | -55 | -2 | 65 | 8 | 129 | 36 | 26 |
| Free Cash Flow | 150 | 54 | 147 | -173 | -440 | -375 | -440 |
| CFO/OP | 174 | 71 | 129 | 107 | 207 | 94 | 23 |
Ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 38 | 61 | 27 | 41 | 37 | 30 | 50 |
| Inventory Days | 74 | 148 | 101 | 103 | 148 | 197 | 225 |
| Days Payable | 60 | 79 | 34 | 50 | 77 | 91 | 116 |
| Cash Conversion Cycle | 51 | 131 | 94 | 93 | 108 | 136 | 159 |
| Working Capital Days | -35 | -29 | -44 | -28 | -90 | -38 | 88 |
| ROCE % | — | 8% | 9% | 6% | 7% | 28% | 45% |
Documents
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Company Information
Incorporated in March 2007, Emmvee Photovoltaic Power Limited is an integrated solar PV module and cell manufacturer.[1]