Fujiyama Power Systems Limited — Investor Meet, 22-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Fujiyama Power Systems Limited held an investor conference call to discuss its Q4 FY26 earnings. The company reported robust performance with revenue from operations reaching Rs. 9,008 million for the quarter, an 87.5% YoY increase, and Rs. 26,545 million for the full year, up 72.3%. EBITDA more than doubled YoY to Rs. 1,715 million in Q4, with full-year EBITDA at Rs. 4,903 million. Margins expanded to 18.5% for the year. Key operational highlights include the commissioning of a 2,000 MW solar panel manufacturing facility at Ratlam and plans for a 1,200 MW TOPCon solar cell facility. Management highlighted strong demand for solar solutions, particularly in Tier 2 and Tier 3 cities, driven by grid instability. The company is focused on expanding its distribution network and capacity additions to meet market opportunities. An incident at the Bawal facility is being managed with alternative arrangements and insurance coverage, with no expected long-term material impact.

The company's integrated model, encompassing manufacturing, distribution, and after-sales service, is a key growth driver. Management noted significant expansion in channel partners, crossing 8,900 by March 2026. Future plans include strengthening backward integration with a TOPCon cell manufacturing facility. Despite an unfortunate fire incident at the Bawal facility, operations are being managed with third-party arrangements, and the company expects no material long-term impact. The outlook remains positive, with management confident in continued growth and long-term value creation, supported by favorable market conditions and strategic capacity expansions. The company provided a revenue growth guidance of 50% for the current year.

Investor sentiment appears constructive, with management expressing confidence in the company's strategic direction and ability to capitalize on the expanding solar market.