Emmvee Photovoltaic Power Ltd

Emmvee Energy (EEPL), a material and wholly owned subsidiary of Emmvee Photovoltaic Power, has entered into a supply agreement with a domestic buyer to supply TOPCon crystalline silicon photovoltaic cells with a contracted offtake of 4.5 GWp.Powered by Capital Market - Live

According to the company's exchange filing, the supply contract will be executed over a five-year period, from December 2025 to 2030. The company also clarified that neither its promoters nor members of the promoter group have any interest in the awarding entity, confirming that the transaction does not qualify as a related-party deal under regulatory norms. Emmvee Photovoltaic Power is primarily a solar module manufacturer and is the second largest pure-play integrated solar PV module and solar cell manufacturing company and one of the largest solar PV module manufacturers in India. The company's consolidated net profit surged 577.3% to Rs 237.86 crore on an 181.1% jump in revenue from operations to Rs 1,131 crore in Q2 FY26 over Q2 FY25. Powered by Capital Market - Live

Net profit of Emmvee Photovoltaic Power rose 577.28% to Rs 237.86 crore in the quarter ended September 2025 as against Rs 35.12 crore during the previous quarter ended September 2024. Sales rose 181.06% to Rs 1131.00 crore in the quarter ended September 2025 as against Rs 402.40 crore during the previous quarter ended September 2024. ParticularsQuarter EndedSep. 2025Sep. 2024% Var. Sales1131.00402.40 181 OPM %35.3123.02 - PBDT362.5386.89 317 PBT291.6763.80 357 NP237.8635.12 577 Powered by Capital Market - Live

Emmvee Photovoltaic Power will hold a meeting of the Board of Directors of the Company on 1 December 2025.Powered by Capital Market - Live

The scrip was listed at 217, matching the initial public offer (IPO) price. So far, the stock has hit a high of 218.85 and a low of 206.85. On the BSE, over 8.21 lakh shares of the company were traded in the counter so far. The initial public offer of Emmvee Photovoltaic Power was subscribed 0.97 times. The issue opened for bidding on 11 November 2025 and it closed on 13 November 2025. The price band of the IPO is fixed between Rs 206 and 217 per share. The offer comprised both a fresh issue and an offer for sale. The fresh issue is made up of issue of new shares of Rs 2 face value worth aggregating to Rs 2143.862 crore and offer for sale is sale of equity share of Rs 2 face value worth aggregating to Rs 756.138 crore by promoters [Rs 378.069 crore worth of shares each by Majunatha Venkatarathnaiah and Shubha Manjunatha Donthi] Of the net proceeds from the fresh issue, the company proposes to utilize Rs 1621.294 crore towards repayment/prepayment of all or certain outstanding borrowings and accrued interest thereon availed by the company and its material subsidiary, i.e., EEPL, and the balance towards general corporate purposes. Emmvee Photovoltaic Power is one of India's largest integrated solar PV module and cell manufacturers, with a production capacity of 7.8 GW for modules and 2.94 GW for cells. The company manufactures TOPCon and Mono PERC modules and primarily serves B2B clients, with domestic sales accounting for over 99% of its revenue. In FY25, around 69% of its revenue came from TOPCon modules. The company operates four manufacturing units in Karnataka and plans to expand capacity to 16.3 GW modules and 8.94 GW cells by FY28. Its order book stood at 5.36 GW (~Rs 7,812 crore) as of June 2025. EMMVEE is ALMM-certified, giving it access to domestic content solar projects and government schemes such as PM-KUSUM and rooftop solar programs. Ahead of the IPO, Emmvee Photovoltaic Power, on 10 November 2025, raised Rs 1,305 crore from anchor investors. The board allotted 6.01 crore shares at Rs 217 each to 55 anchor investors. The firm reported a consolidated net profit of Rs 187.68 crore and an income from operations of Rs 1,027.82 crore for the six months ended on 31 March 2025.Powered by Capital Market - Live

The equity shares of Emmvee Photovoltaic Power (Scrip Code: 544608) are listed effective 18 November 2025 and admitted to dealings on the Exchange in the list of ''B'' group securities. At 9:57 IST, the stock was trading flat compared to its offer price of Rs 217.Powered by Capital Market - Live