Emmvee Photovoltaic Power soars after global brokerage initiates Buy call

Emmvee Photovoltaic Power hit an upper limit of 10% at Rs 203.30 after a global brokerage initiated coverage with a Buy rating and a target price of Rs 320, citing strong upside potential.

The brokerage expects Indias solar installations to grow rapidly on the back of lower tariffs, rising power demand and policy support for domestic manufacturers. Emmvee was highlighted for its early move into high-efficiency TOPCon technology and aggressive capacity expansion, with cell and module capacities seen rising sharply by FY27. While near-term margin risks remain due to potential oversupply, the brokerage expects profitability to stabilise over time, supporting strong earnings growth.

Bengaluru-based Emmvee Photovoltaic Power is a renewable energy company. It manufactures of Solar PV modules and systems. The companys consolidated net profit surged 577.3% to Rs 237.86 crore on an 181.1% jump in revenue from operations to Rs 1,131 crore in Q2 FY26 over Q2 FY25.

 

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