Fujiyama Power Systems Ltd delivered exceptional fourth-quarter results, with revenue from operations surging 87.5% year-on-year to ₹900.8 crore for Q4 FY26. According to reports from The Hindu BusinessLine, the Delhi-based rooftop solar company's EBITDA jumped 116.9% to ₹171.5 crore, with margins expanding to 19% from 16.5% a year ago. Profit after tax rose 107.5% to ₹106.3 crore during the quarter.
For the full financial year FY26, the company's revenue reached ₹2,654.5 crore, up 72.3%, while EBITDA nearly doubled to ₹490.3 crore. As reported by The Hindu BusinessLine, this marked the company's first year as a listed entity following its November 2025 IPO. The company has significantly expanded its manufacturing capacity with the commissioning of its 2,000 MW solar panel manufacturing facility at Ratlam, Madhya Pradesh. With this addition, Fujiyama's total solar panel manufacturing capacity now stands at 3,568 MW.
The Ratlam facility, part of a greenfield expansion designed for 2,000 MW each of solar panels, inverters, and batteries, will initially run at around 1,000 MW under single-shift operations, with full capacity targeted by Q4 FY27. According to reports from The Hindu BusinessLine, the company attributed delays in the inverter and battery lines to integration of newer lithium-ion battery technology and geopolitical disruptions affecting supply chains. The inverter line is now expected to be commissioned in Q1 FY27, with battery manufacturing to follow in Q2 FY27.
On the distribution front, the company demonstrated strong growth by adding over 80 distributors, 450 dealers, and 30 exclusive Shoppes in Q4, taking its total channel partner network past 8,900 across 23 States. As reported by The Hindu BusinessLine, this expansion significantly strengthened the company's distribution infrastructure to support its growing solar panel manufacturing capacity.
The stock was trading at ₹276 on the NSE on Friday afternoon, up 1.06% on the day, giving the company a market capitalisation of approximately ₹8,470 crore. According to The Hindu BusinessLine, the scrip has returned 23.14% year-to-date, significantly outperforming the 5.48% decline in the Nifty Total Market index over the same period, reflecting strong investor confidence in the company's growth trajectory.
