Fujiyama Power Systems climbs after reporting strong Q2 performance

Fujiyama Power Systems rallied 3.03% to Rs 205.50 after the company's standalone net profit surged 97.43% to Rs 62.90 crore on 72.59% jump in revenue from operations to Rs 567.90 crore in Q2 FY26 over Q2 FY25.

Profit before tax (PBT) soared 100.41% YoY to Rs 84.61 crore in Q2 FY26.

EBITDA stood at Rs 103.0 crore, recording the growth of 105.7% compared with Rs 50.1 crore posted in corresponding quarter last year. EBITDA margin improved to 18.1% in Q2 FY26 as against 15.2% in Q2 FY25.

As on 30th September 2025, total debt stood at Rs 674 crore.

On first half basis, the companys standalone net profit jumped 73.76% to Rs 130.48 crore in H1 FY26 compared with Rs 75.09 crore in H1 FY25. Revenue from operations increased 61.45% YoY to Rs 1165.25 crore in H1 FY26.

Pawan Kumar Garg, chairman and joint managing director, said: Following the successful completion of our IPO, Fujiyvama has entered a new phase of growth, supported by strong financial strength and a clear roadmap for expansion. We are positioned to accelerate our expansion plans, deepening backward integration and broadening our nationwide footprint. With Indias renewable-energy transition gaining momentum and rooftop adoption rising meaningfully across Tier-2 and Tier-3 cities, we remain well placed to serve a growing share of the residential and distributed-solar market through our integrated and high-quality product ecosystem.

Our distribution network remains one of our biggest strengths and continues to deepen across Indias high-demand regions. In Q2 FY26, we added more than 70 distributors, over 350 dealers and more than 20 exclusive Shoppes. With more than 7,500 channel partners and a strong team of service engineers, we are able to reach households across diverse geographies and deliver a seamless customer experience from product selection to installation and after-sales service.

On the product mix, solar panels accounted for 45.4% of total revenue in H1 FY26, compared to 36.5% in H1 FY25. A large part of this growth has been driven by the off-grid category, highlighting our strong positioning in power-backup led rooftop solar. Our B2C business contributed 91.7% to revenue in H1 FY26, compared to 90.3% last year, reflecting the deepening retail franchise and the effectiveness of our customer engagement initiatives.

Shares of Fujiyama Power Systems entered into the stock market on 29 November 2025. The counter listed at Rs 218.40, reflecting a 4.21% discount to the issue price. IPO was subscribed 2.14 times. The issue opened for bidding on 13 November 2025, and it closed on 17 November 2025.

Fujiyama Power Systems is a manufacturer of products and a solution provider in the rooftop solar industry, including on-grid, off-grid, and hybrid solar systems. It manufactures solar panels, solar inverters (covering on-grid, hybrid, and off-grid solutions), and both lead-acid and lithium-ion batteries. Its portfolio is marketed under two brands: UTL Solar and Fujiyama Solar.

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