Fujiyama Power Systems Ltd

Fujiyama Power Systems Limited reported strong Q1 FY2026-27 results, with revenue from operations growing 125.3% year-on-year to Rs. 13,457 million and EBITDA increasing 140.6% to Rs. 2,548 million. The EBITDA margin expanded to 18.9% from 17.7% in the prior year. The company commissioned a 2-gigawatt solar panel manufacturing facility and a 2-gigawatt power electronics facility at Ratlam, increasing total solar panel capacity to 3.5 gigawatts and power electronics capacity to 4 gigawatts. Additionally, the company increased its stake in Zayo Energy and Zayo Cables to 50% each, enhancing backward integration. The distribution network expanded significantly, adding over 80 distributors, 1,000 dealers, and 30 exclusive shops, reaching over 10,100 channel partners. The company also highlighted the impact of a fire incident at its Bawal facility, recognizing a provisional loss of Rs. 1,436 million, though insurance claims are expected to cover the loss. Management guided toward a full-year revenue growth of 70% and emphasized continued focus on scaling capacities, expanding distribution, and improving service quality. The company also discussed the potential of the PM Surya Ghar 2.0 scheme and the growing demand for rooftop solar in India, with government targets of 300 gigawatts of solar capacity by 2030. The company noted that the BIS non-compliance issues were largely resolved, with only a minor impact on inventory. The discussion also covered the company's strategy for expanding into residential BESS and large-scale battery storage solutions in the coming quarters.

The document emphasizes strong financial performance, significant operational expansions, and positive outlook on market opportunities.