Fujiyama Power Systems Q2 Revenue RIses 130 Percent to INR 1,306.8 Crore

Fujiyama Power Systems Ltd. has reported a 130.1 percent year-on-year increase in revenue from operations to  INR 1,306.8 crore in Q2 FY27, while EBITDA rose 116.4 percent to INR 222.9 crore.

The company’s profit after tax (PAT) increased 111.2 percent year-on-year to INR 132.9 crore during the quarter. EBITDA margin stood at 17.1 percent, compared with 18.1 percent in Q2 FY26, while PAT margin declined to 10.2 percent from 11.1 percent.

For the first half of FY27, revenue from operations grew 127.6 percent to INR  2,652.5 crore. EBITDA increased 128.7 percent to INR  477.7 crore, with a margin of 18 percent. Normalised PAT stood at INR 298.1 crore, excluding an exceptional item related to the Bawal manufacturing facility fire.

The company attributed the moderation in quarterly margins primarily to lower sales realisations adopted to increase sales volumes and gain market share.

During Q2 FY27, Fujiyama commissioned a 2 GW power electronics manufacturing facility at Ratlam, Madhya Pradesh, taking its total power electronics manufacturing capacity to 4.1 GW. The facility will manufacture solar inverters, UPS systems and other power electronics products.

The company is also developing a 3 GWh lithium-ion battery manufacturing facility at Ratlam, which is expected to be commissioned in the coming quarters. In addition, it is setting up a 1.2 GW solar cell manufacturing facility at the location with an investment of around INR 350 crore. The facility is expected to begin operations by Q1 FY28 and will complement its existing 1 GW solar cell manufacturing capacity.

Fujiyama is also establishing a 1 GWh tubular battery manufacturing facility at Hathras, Uttar Pradesh, with an investment of around INR 20 crore. Expected to be commissioned by Q3 FY27, the facility will replace the earlier 1.3 GWh manufacturing capacity at Bawal, Haryana, which was damaged in a fire in May 2026.

The company added more than 100 dealers and 30 distributors during Q2 FY27, taking its total channel partner network to over 10,200 as of September 30, 2026.

Commenting on the performance, Pawan Kumar Garg, Chairman and Joint Managing Director of Fujiyama Power Systems, said that the quarter marked further progress in manufacturing expansion and backward integration across solar panels, power electronics and batteries.

He said that demand for residential rooftop solar and power backup solutions remained favourable, supported by government initiatives, rising consumer awareness and increasing adoption in Tier 2 and Tier 3 markets.

The company expects government initiatives such as PM Surya Ghar and its proposed expansion under PM Surya Ghar 2.0 to support the adoption of rooftop solar and integrated energy storage solutions.