Bengaluru-based solar cell and module manufacturer, Emmvee Photovoltaic Power, has reported a revenue of ₹11.52 billion (~$127.6 million) in the third quarter (Q3) of the financial year (FY) 2026, registering a year-over-year (YoY) increase of 118%.

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter stood at ₹4.13 billion (~$45.8 million), up 105% YoY.

Emmvee reported a profit after tax (PAT) of ₹2.64 billion (~$29.2 million) for Q3 FY26, marking a 166% YoY increase.

Earnings per share (EPS) for the quarter were ₹4.11 (~$0.046), compared to ₹1.67 (~$0.018) in the corresponding period of the previous year.

Emmvee had an installed solar module manufacturing capacity of 10.3 GW and a solar cell manufacturing capacity of 2.94 GW as of December 2025.

During the quarter, the company commissioned a new 2.5 GW solar module line at its Sulibele facility. Emmvee is also developing a 6 GW integrated solar cell and module manufacturing facility at Devanahalli, Bengaluru.

By FY28, the company aims to scale its total manufacturing capacity to 16.3 GW for modules and 8.94 GW for cells.

Nine Months (9M) FY26

For the nine-month (9M) period ended December 31, 2025, Emmvee reported a revenue of ₹33.11 billion (~$366.7 million), a YoY increase of 162%.

EBITDA for 9M FY26 came in at ₹11.63 billion (~$128.8 million), up 222% YoY, driven by higher capacity utilization and improved margins supported by captive cell usage.

Profit after tax for the period stood at ₹6.89 billion (~$76.3 million), a 326% YoY surge.

The company reported an EPS of ₹11.31 (~$0.125) for 9M FY26, compared to ₹2.73 (~$0.030) in the same period last year.

As of December 2025, the company’s order book stands at 9.3 GW, which includes 6.3 GW to be delivered over the next 12-18 months.

The company reported a revenue of ₹11.31 billion (~$125.82 million) for the second quarter of the financial year 2026, a year-over-year increase of 181.1%.

In November last year, Emmvee Photovoltaic Power’s ₹30 billion (~$350.12 million) initial public offering was subscribed 0.97 times at the end of the bidding window on November 13, 2025.