Emmvee Photovoltaic Power Ltd logo

Emmvee Photovoltaic Power Ltd

EMMVEE NSE

Key Fundamentals

SmallcapOther Electrical EquipmentCapital Goods
Market Cap
₹23,287 Cr
Volatility
Moderate
P/E Ratio
17.54
EBITDA
₹1,734 Cr
Return on Equity
68.74%
Debt to Equity
0.1
Book Value
₹53.37
52W High
₹371.55
52W Low
₹171.51

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Emmvee Photovoltaic Power Ltd insights

45 extracted metrics + investor summaries across FY20–FY26.

Log in — free

Tapetide Score

Data-driven rating, 0–100. How it works →

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

Revenue Growth
113.95% ↗
Net Income Growth
208.57% ↗
Cash Flow Change
161.77% ↗
ROE
301.52% ↗
ROCE
321.98% ↗
EBITDA Margin (Avg.)
7.43% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 6d ago
AI opinion · based on fundamentals
Risk medium

Emmvee Photovoltaic Power Ltd is a capital goods company with a market cap of ~₹23,048 Cr, trading at a P/E of 17.2x with exceptional historical profit growth of 158% CAGR over 5 years and ROE averaging 56% over 3 years. However, working capital days have deteriorated sharply from -13.3 to 88.3 days, and debtor days have risen from 38.9 to 50.2 days, signaling emerging cash conversion challenges.

Bull Case 8
  • Compounded profit growth of 158% CAGR over 5 years demonstrates strong earnings momentum in the solar manufacturing space
  • 3-year ROE of 56% and last year ROE of 51% indicate highly efficient capital deployment relative to peers in capital goods
  • TTM sales growth of 84% shows continued strong revenue acceleration even on a larger base
  • Compounded sales CAGR of 101% over 3 years reflects rapid scaling of operations
  • P/E of 17.2x appears moderate relative to the 141% TTM profit growth, suggesting earnings have outpaced price expansion
  • Company has been actively reducing debt, improving balance sheet resilience for future capex cycles
  • 5-year sales CAGR of 64% indicates sustained long-term structural demand tailwinds from India's solar capacity expansion
  • Dividend yield of 0.32% shows management willingness to return capital to shareholders even during a high-growth phase
Bear Case 8
  • Working capital days have deteriorated sharply from -13.3 days to 88.3 days, a swing of over 100 days indicating significant cash flow strain
  • Debtor days increased from 38.9 to 50.2 days, suggesting slower collections and potential credit risk from customers
  • P/B ratio of 5.94x is elevated, implying the stock prices in substantial future growth and leaves limited margin of safety
  • TTM profit growth of 141% may be difficult to sustain given the already large base, creating risk of growth deceleration
  • 10-year historical data for sales and profit CAGR is unavailable, limiting visibility into performance through full industry cycles
  • Capital goods sector is inherently cyclical and dependent on government policy continuity for solar incentives and tariff protection
  • 52-week high and low data is unavailable, making it difficult to assess current valuation relative to recent trading range
  • Debt-to-equity ratio is not disclosed, limiting full assessment of leverage risk despite the noted debt reduction

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 4h ago
Neutral 1
  • Cost auditor and director reappointment Aug 26

    Board appointed M/s. Murthy & Co. LLP as cost auditor for FY27 and proposed re-appointment of director Suhas Donthi Manjunatha (7+ years in renewable energy) at the upcoming AGM.

TL;DR: Limited news flow with only routine corporate governance actions reported. No material positives or risks emerged. The absence of operational or financial updates makes it difficult to assess near-term trajectory; investors should watch for upcoming AGM outcomes and quarterly results for directional cues.

Quarterly Results

  Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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
Figures in ₹ Crores

Profit & Loss

  Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Cash Flow

  Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Ratios

  Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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%

Shareholding Pattern

As of Jun 2026
Promoters 80.03%
DIIs 9.80%
Public 5.64%
FIIs 2.92%
Others 1.61%
Total 100.00%
  Jul 2025Nov 2025Dec 2025Mar 2026Jun 2026
Promoters
100.00%
80.03%
80.03%
80.03%
80.03%
FIIs
0.00%
6.17%
3.97%
2.45%
2.92%
DIIs
0.00%
10.79%
12.57%
12.28%
9.80%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
Public
0.00%
2.83%
2.87%
3.87%
5.64%
Others
0.00%
0.17%
0.56%
1.37%
1.61%
No. of Shareholders
9
9
1,01,005
93,389
1,32,931

Documents

Frequently Asked Questions about Emmvee Photovoltaic Power Ltd

What does Emmvee Photovoltaic Power Ltd do?
Incorporated in March 2007, Emmvee Photovoltaic Power Limited is an integrated solar PV module and cell manufacturer.[1]
Where is Emmvee Photovoltaic Power Ltd (EMMVEE) listed?
Emmvee Photovoltaic Power Ltd is listed on the Indian stock exchanges. It is listed on NSE: EMMVEE and BSE: 544608. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Emmvee Photovoltaic Power Ltd belong to?
Emmvee Photovoltaic Power Ltd operates in the Capital Goods sector within the Other Electrical Equipment industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Emmvee Photovoltaic Power Ltd?
Emmvee Photovoltaic Power Ltd has a market capitalisation of approximately ₹23287.03 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Emmvee Photovoltaic Power Ltd?
The Price-to-Earnings (PE) ratio of Emmvee Photovoltaic Power Ltd is 17.54. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Emmvee Photovoltaic Power Ltd?
Over the past 52 weeks, Emmvee Photovoltaic Power Ltd has traded between a low of ₹171.51 and a high of ₹371.55. This range helps investors understand the stock's price volatility and recent trading levels.
Does Emmvee Photovoltaic Power Ltd pay dividends?
Yes, Emmvee Photovoltaic Power Ltd has a dividend yield of 0.30%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Emmvee Photovoltaic Power Ltd?
Emmvee Photovoltaic Power Ltd has a Return on Equity (ROE) of 68.74%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Emmvee Photovoltaic Power Ltd on Tapetide?
On Tapetide, you can view Emmvee Photovoltaic Power Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Incorporated in March 2007, Emmvee Photovoltaic Power Limited is an integrated solar PV module and cell manufacturer.[1]

Website emmveepv.com
CEO Mr. Manjunatha Donthi Venkatarathnaiah
Employees 611
Listed 2025-11-18
Face Value ₹ 2
Issued Size 69,23,45,033

Explore More

More in Capital Goods → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List