Bengaluru-based solar and cell module manufacturer, Emmvee Photovoltaic Power, reported a revenue of ₹11.31 billion (~$125.82 million) in the second quarter (Q2) of financial year (FY) 2026, a year-over-year (YoY) increase of 181.1%.

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter were ₹3.99 billion (~$44.38 million), a 331.3% YoY increase.

Emmvee’s profit after tax (PAT) stood at ₹2.37 billion (~$26.36 million), a YoY increase of 577.8%.

The company reported earnings per share (EPS) of ₹4.01 (~$0.044), up from ₹0.59 (~$0.0066) in the same period last year.

First Half (1H) FY26

Emmvee reported a revenue of ₹21.58 billion (~$240.08 million) in 1H FY26, a YoY increase of 193.5%.

BITDA for the period was ₹7.49 billion (~$83.32 million), a 370.7% YoY increase.

PAT stood at ₹4.25 billion (~$47.29 million), a YoY increase of 578.6%.

The company reported an EPS of ₹7.17 (~$0.067), increasing from ₹1.06 (~$0.012) in the same period last year.

Emmvee has a solar module manufacturing capacity of 7.8 GW and a solar cell capacity of 2.94 GW.

The company plans to add a 2.5 GW module line and a 6 GW integrated solar cell and module facility. By the first half of the financial year 2028, Emmvee aims to reach a total manufacturing capacity of 16.3 GW for modules and 8.94 GW for cells.

Emmvee Photovoltaic Power’s ₹30 billion (~$350.12 million) initial public offering (IPO) was subscribed 0.97 times at the end of the bidding window on November 13, 2025. The IPO saw bids for 75 million shares out of the 77 million shares on offer.

In August 2025, Emmvee Energy was enlisted in the Approved List of Models and Manufacturers List-II for its bifacial N-type TOPCon cells of 1,553 MW/year capacity. The cells have an average efficiency of 24.62% and a wattage of 8.24 W.