NSE EMMVEE · BSE 544608 · Semiconductors · NIFTY 500
Emmvee Photovoltaic Power Share Price
Emmvee Photovoltaic Power Overview
Where the price stands, how it has moved and how it sits against its averages.
Emmvee Photovoltaic Power shares last traded at ₹318.00 on the NSE, down 4.26% on the day. That is 14.4% below the 52-week high of ₹371.45 and 85.4% above the 52-week low of ₹171.50. The stock trades at 17.79× earnings, below the sector average of 64.07. Its market value is ₹21,947 Cr.
Price returns
Against the market: 1 Month ▲ +1.46% · 3 Months ▼ −1.32% · 6 Months ▲ +42.31% · This year ▲ +91.24%
Shading grows with the size of the move. Prices refresh every 15 minutes while the market is open (9:15 AM–3:30 PM IST); next update from Mon 28 Sep, 9:15 AM.
Moving averages — price is above 1 of 6
- 10-day average₹333.48 ▼ price 4.6% below
- 5-day average₹333.39 ▼ price 4.6% below
- 20-day average₹329.64 ▼ price 3.5% below
- 50-day average₹327.29 ▼ price 2.8% below
- 100-day average₹319.05 ▼ price 0.3% below
- Today's price₹318.00
- 300-day average₹265.89 ▲ price 19.6% above
Averages above today's price sit higher on the ladder. Price above most of its averages is usually read as an upward trend.
Emmvee Photovoltaic Power Financial Results
Revenue and net profit in ₹ crore, with the full statements underneath.
Year by year
| Fiscal year | Revenue | Growth | Net profit | Net margin | EPS | Dividend |
|---|---|---|---|---|---|---|
| FY 2026 | ₹5,050 Cr | ▲ +116.2% | ₹1,082 Cr | 21.4% | ₹17.17 | ₹1.00 |
| FY 2025 | ₹2,336 Cr | ▲ +145.4% | ₹369 Cr | 15.8% | ₹6.22 | — |
| FY 2024 | ₹952 Cr | ▲ +54.0% | ₹29 Cr | 3.0% | ₹0.49 | — |
| FY 2023 | ₹618 Cr | ▲ +21.6% | ₹9 Cr | 1.5% | ₹0.15 | — |
| FY 2022 | ₹508 Cr | ▲ +39.9% | ₹9 Cr | 1.7% | ₹0.14 | — |
| FY 2021 | ₹363 Cr | — | ₹3 Cr | 0.9% | ₹0.06 | — |
Quarter by quarter
| Quarter | Revenue | vs prev. qtr | Net profit | Net margin | EPS |
|---|---|---|---|---|---|
| Q1 FY27 | ₹1,556 Cr | ▼ −10.5% | ₹380 Cr | 24.4% | ₹5.49 |
| Q4 FY26 | ₹1,739 Cr | ▲ +50.9% | ₹392 Cr | 22.6% | ₹5.68 |
| Q3 FY26 | ₹1,152 Cr | ▲ +1.9% | ₹264 Cr | 22.9% | ₹4.11 |
| Q2 FY26 | ₹1,131 Cr | ▲ +10.0% | ₹238 Cr | 21.0% | ₹4.01 |
| Q1 FY26 | ₹1,028 Cr | ▼ −4.1% | ₹188 Cr | 18.3% | ₹3.16 |
| Q4 FY25 | ₹1,072 Cr | ▲ +102.9% | ₹207 Cr | 19.3% | ₹3.49 |
| Q3 FY25 | ₹528 Cr | ▲ +31.3% | ₹99 Cr | 18.8% | ₹1.67 |
| Q2 FY25 | ₹402 Cr | — | ₹35 Cr | 8.7% | ₹0.59 |
Balance sheet — FY26
- Total assets₹5,772 Cr
- Total liabilities₹2,078 Cr
- Shareholders' equity₹3,695 Cr
- Total debt₹360 Cr
- Cash & investments₹384 Cr
- Current ratio2.06×
- Revenue growth, 5 yr69.29% a year
- EPS growth, 5 yr213.79% a year
- Operating margin (TTM)29.12%
- Net margin (TTM)22.84%
Cash flow — FY26
Right of the line = cash coming in, left = cash going out. Free cash flow = cash from operations minus capital spending.
Full financial statements, FY21–FY26
| ₹ crore | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Total revenue | 363.22 | 508.27 | 618.13 | 951.94 | 2,335.61 | 5,049.88 |
| Cost of revenue | 256.54 | 400.57 | 502.23 | 754.58 | 1,402.32 | 2,775.52 |
| Gross profit | 106.68 | 107.70 | 115.90 | 197.36 | 933.30 | 2,274.36 |
| Operating expenses | 331.05 | 472.63 | 604.54 | 873.32 | 1,769.57 | 3,611.14 |
| Operating income | 32.17 | 35.64 | 13.58 | 78.62 | 566.05 | 1,438.74 |
| Depreciation | 30.01 | 26.37 | 42.69 | 41.82 | 155.95 | 295.63 |
| Profit before tax | 2.50 | 15.33 | 11.67 | 47.62 | 482.82 | 1,337.60 |
| Tax | −0.85 | 6.79 | 2.70 | 18.72 | 113.81 | 256.04 |
| Net profit | 3.35 | 8.54 | 8.97 | 28.90 | 369.01 | 1,081.55 |
| EPS (₹) | 0.06 | 0.14 | 0.15 | 0.49 | 6.22 | 17.17 |
| Dividend per share (₹) | — | — | — | — | — | 1.00 |
| ₹ crore | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Total assets | 567.42 | 618.98 | 840.79 | 2,189.99 | 3,913.94 | 5,772.49 |
| Current assets | 308.19 | 293.38 | 316.34 | 990.69 | 1,685.00 | 3,059.68 |
| Cash & short-term investments | 108.94 | 170.46 | 61.38 | 520.58 | 580.94 | 383.71 |
| Inventory | 96.65 | 60.66 | 141.39 | 306.21 | 758.36 | 1,710.55 |
| Property, plant & equipment | 135.89 | 216.24 | 335.34 | 303.11 | 2,064.40 | 2,655.17 |
| Total liabilities | 391.82 | 434.84 | 700.29 | 2,021.23 | 3,377.14 | 2,077.55 |
| Current liabilities | 208.80 | 259.28 | 302.92 | 703.90 | 1,349.81 | 1,484.68 |
| Total debt | 235.76 | 238.34 | 524.35 | 1,446.87 | 2,065.25 | 360.06 |
| Total equity | 175.60 | 184.14 | 140.50 | 168.76 | 536.80 | 3,694.94 |
| ₹ crore | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| From operations | 37.88 | 115.05 | 59.48 | 234.46 | 613.75 | 200.14 |
| From investing | −17.30 | −42.89 | −130.68 | −1,000.05 | −985.67 | −304.14 |
| From financing | −19.71 | −36.64 | 79.83 | 894.45 | 408.13 | 130.35 |
| Capital expenditure | −12.91 | −106.88 | −444.57 | −674.59 | −988.47 | −653.32 |
| Dividends paid | — | — | — | — | — | — |
| Net change in cash | 0.87 | 35.53 | 8.63 | 128.86 | 36.22 | 23.99 |
Emmvee Photovoltaic Power vs Peers
Side by side with other semiconductors companies. The small bars compare each column.
| Company | Price | Change | Market cap | P/E | P/B | ROE (5 yr) | Net margin | Div. yield | Rating |
|---|---|---|---|---|---|---|---|---|---|
| Emmvee Photovoltaic Power | ₹318.00 | ▼ −4.26% | ₹21,947 Cr | 17.79 | 5.95 | 50.48% | 22.84% | 0.31% | This stock |
| Premier Energies | ₹895.00 | ▼ −0.33% | ₹40,629 Cr | 32.30 | 11.32 | 40.54% | 19.29% | 0.14% | Bearish |
| RRP Semiconductor | ₹8,207.65 | 0.00% | ₹11,182 Cr | — | 1,378.83 | — | — | — | Bearish |
| Vikram Solar | ₹160.45 | ▼ −1.84% | ₹5,791 Cr | 14.06 | 2.20 | 15.29% | 9.80% | — | Bearish |
| Saatvik Green Energy | ₹437.90 | ▼ −2.29% | ₹5,592 Cr | 15.53 | 4.36 | — | 7.94% | — | Bullish |
| Moschip Technologies | ₹203.15 | ▼ −2.05% | ₹3,963 Cr | 118.00 | 11.39 | 9.06% | 6.04% | — | Moderately Bearish |
Rating = the data provider's overall technical view of each peer. Company names link to their own pages.
Emmvee Photovoltaic Power Key Metrics
Each ratio placed against a benchmark — the sector average, the company's own 5-year average, or a common rule of thumb.
Valuation Is the price reasonable?
Profitability Of every ₹100 of sales, how much is kept?
Returns & efficiency How well does it use its money?
Growth Is the business getting bigger?
Financial strength Can it pay its bills and debts?
Per share What each share stands for
The share price is 5.96× the book value behind each share.
Benchmarks: sector averages and 5-year averages come from the data provider; the debt and liquidity bands are common rules of thumb, not investment advice.
All 99 metrics from the data provider
Valuation
Per share
Margins
Growth
Financial strength
Returns & efficiency
Price & volume
Dividends & Corporate Events
Payouts to shareholders, splits and bonus issues, and company meetings — newest first.
- Dividend yield0.31%
- Payout ratio6.40%
- Latest dividend₹1.00 per share · 18 Sep 2026
Corporate calendar
- Upcoming · MeetingAnnual General Meeting
- Dividend₹1.00 per share · 50% · Final dividend
- BoardQuarterly Results
- BoardAudited Results & Final Dividend
- BoardQuarterly Results
- MeetingPostal Ballot
- BoardQuarterly Results
About Emmvee Photovoltaic Power
Semiconductors
Emmvee Photovoltaic Power Ltd is an India-based pure-play integrated solar photovoltaic (PV) module and solar cell manufacturing company. The Company’s product portfolio comprises bifacial and mono-facial formats of TOPCon modules and cells, and bifacial and mono-facial formats of mono passivated emitter and rear contact (Mono PERC) modules. The Company’s segments include Photovoltaics modules (PV), EPC, and Others. The Photovoltaics modules (PV) segment manufactures and sells photovoltaic modules and photovoltaic systems. The EPC segment specializes in the execution of the Engineering, Procurement, and construction (EPC) Projects within the solar sector. Others segment comprises solar pumps, supplying and the installation of solar photovoltaic water pumping systems and selling power generated from an independent power producing plant. The Company also executes grid and off-grid photovoltaic power projects on a turnkey basis and operates solar power plants.
Key people
- Manjunatha Donthi VenkatarathnaiahExecutive Chairman of the Board, Managing Director
- Suhas Donthi ManjunathaPresident, Chief Executive Officer, Whole Time Director
- Pawan Kumar JainChief Financial Officer
- Srinath ThippegowdaChief Technology Officer
- Nagaraj Shrinivas RonadCompliance Officer
Company facts
- NSE symbolEMMVEE
- BSE code544608
- ISININE1C6T01020
- IndustrySemiconductors
- IndexNIFTY 500
- Market cap₹21,947 Cr
- Revenue (FY26)₹5,050 Cr
- Net profit (FY26)₹1,082 Cr
In the News
Recent headlines about Emmvee Photovoltaic Power — they open on Mint in a new tab.
- Buy Suzlon, Saatvik Green; Sell Premier Energies, Emmvee Photovoltaic Power: Ambit Insights | Target price, upside
Ambit Insights reduced Emmvee Photovoltaic's rating to ‘Sell’ predicting significant challenges ahead. They are optimistic about Saatvik Green and maintain a 'Buy' on Suzlon Energy.
24 Sep 2026 · 3 min read · Mint ↗ - Avaada Electro cuts IPO size to ₹7,600 crore amid valuation, concentration concerns
The solar manufacturer lowered its target from a potential ₹10,000 crore after prospective investors flagged heavy revenue reliance on its group entity and rising competition in the sector.
26 Aug 2026 · 4 min read · Mint ↗ - Indian solar exporters target EU, but FTA with bloc remains crucial
Indian solar panel makers have been largely priced out of European and other key export markets by Chinese firms that sell at significantly lower prices. Indian solar panel makers such as Adani New Industries and Waaree Energies have so far focused on exports to the US.
5 Aug 2026 · 4 min read · Mint ↗ - Manufacturing companies eclipse consumer firms in a cooling IPO market
Companies raised a record ₹1.96 trillion through 91 mainboard initial public offerings (IPOs) in 2024, followed by another ₹1.76 trillion across a record 103 issues in 2025. But activity cooled in 2026 amid volatile markets and geopolitical uncertainty, with 23 IPOs raising ₹21,506 crore so far.
1 Jul 2026 · 3 min read · Mint ↗ - Top 10 winners and losers of Nifty 500 index during the US-Iran war: HFCL, Ola Electric surge while Vedanta, RVNL sinks
The US-Iran conflict has led to a 4-5% decline in Indian equity markets. Investor sentiment is dampened by geopolitical tensions and rising oil prices. While negotiations offer hope, concerns over delayed talks and volatility linger, impacting stock performance across sectors.
20 Jun 2026 · 2 min read · Mint ↗ - Emmvee Photovoltaic Power IPO listing: Shares off to muted start, list at ₹217, same as issue price
Emmvee Photovoltaic Power's IPO opened on November 11 and closed on November 13, achieving 97% subscription. The shares debuted at ₹217, equal to the issue price. Funds raised will primarily address outstanding debts and support corporate objectives.
18 Nov 2025 · 2 min read · Mint ↗ - Emmvee Photovoltaic Power IPO allotment to be finalised today. Here's GMP, how to check status
The shares of Emmvee Photovoltaic Power IPO are currently trading at ₹0 in the grey market, as per Investorgain. This means that the GMP of Emmvee Photovoltaic Power IPO is +0.
14 Nov 2025 · 2 min read · Mint ↗ - Upcoming IPO: Emmvee Photovoltaic Power opens on November 11; price band set at ₹206-217 apiece
Upcoming IPO: Emmvee Photovoltaic Power has set its IPO price band between ₹206 and ₹217 per share, with subscription from November 11-13. The issue size totals ₹2,900 crore, primarily for loan repayments and corporate purposes.
6 Nov 2025 · 2 min read · Mint ↗
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