Emmvee Photovoltaic Power share price
NSE: EMMVEEBSE: 544608Electrical EquipmentSmall Cap
Emmvee Photovoltaic Power Limited · Face value ₹2 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Nov 2025 · Issue price ₹217
Last close ₹240.65up ₹0.20 (0.08%)BSE ₹240.80
Share price at the NSE close on 27 Oct 2026. Previous close ₹240.45.
27 Oct: open ₹241.20, high ₹247.50, low ₹238.20
Range of traded prices from listing on 18 Nov 2025 to 27 Oct 2026
₹171.51Low, 18 Dec 2025₹371.55High, 16 Jul 2026
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹16,661 Cr384th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 11.75
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 3.80
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.42%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 53.1%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 33.4%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- 0.21
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 15,20,57848.9% delivered
About Emmvee Photovoltaic Power
Emmvee Photovoltaic Power Limited manufactures solar photovoltaic modules and solar cells. Its customers are solar developers, engineering, procurement and construction (EPC) contractors, and commercial and industrial businesses, in India and in international markets.
The company runs an integrated manufacturing platform that covers both solar cells and modules, and uses AI-enabled electroluminescence inspection across its production lines. It has completed seven tests under the Kiwa PVEL product qualification programme for a single product type. It operates with 100% TOPCon technology across its module capacity, makes bifacial modules, and collaborates with Fraunhofer ISE, a European solar research institute. Its installed capacity is 10.3 GW for photovoltaic modules and 2.94 GW for TOPCon solar cells. The cell capacity is held through its wholly owned subsidiary, Emmvee Energy Private Limited, which also operates part of the module capacity.
The manufacturing facilities are clustered in Karnataka, in the Bengaluru area, at Nelamangala and Sulibele. The registered office is in Bengaluru. Two overseas subsidiaries, Emmvee Energy GmbH in Germany and Emmvee Energy Inc. in the United States, support the company's presence outside India and its business development.
It was incorporated in 2007 as a private limited company. In May 2025 it was converted into a public limited company, and its shares have been listed on the National Stock Exchange of India and BSE since 18 November 2025.
Written from the annual report for the year to Mar 2026, filed 2 Sep 2026 and the investor presentation.
Sources for 26 statements, each with its page
- The company manufactures solar photovoltaic modules. Annual report, page 5
- The company manufactures solar cells and modules (integrated across both). Annual report, page 28
- Customers include solar developers, EPC contractors and businesses in India and international markets. Annual report, page 12
- Customers include commercial and industrial solar projects. Annual report, page 12
- Operates with 100% TOPCon technology across module capacity. Annual report, page 9
- Collaborates with Fraunhofer ISE. Annual report, page 9
- Fraunhofer ISE is a European solar research institution. Annual report, page 9
- Installed capacity is 10.3 GW for modules and 2.94 GW for TOPCon cells. Annual report, page 17
- Cell capacity is held through wholly owned subsidiary Emmvee Energy Private Limited. Annual report, page 30
- Emmvee Energy Private Limited also operates module manufacturing capacity (5.01 GW at Unit-5 and Unit-6). Annual report, page 30
- Manufacturing facilities are clustered in Karnataka. Annual report, page 28
- Manufacturing cluster is in Bengaluru. Annual report, page 9
- Overseas subsidiaries in Germany and the USA support global presence and business development. Annual report, page 30
- Overseas subsidiaries support global presence. Annual report, page 30
- Registered office is in Bengaluru. Annual report, page 32
- It was incorporated in 2007 as a private limited company. Annual report, page 60
- Incorporation date March 21, 2007. Annual report, page 60
- Converted from private to public limited company in May 2025. Annual report, page 32
- Conversion effective May 7, 2025. Annual report, page 32
- Shares listed on NSE and BSE on 18 November 2025. Annual report, page 7
- Listing on both exchanges. Annual report, page 6
- Makes bifacial modules. Annual report, page 12
- Facility at Nelamangala. Annual report, page 45
- Facility at Sulibele. Annual report, page 6
- Uses AI-enabled electroluminescence inspection across production lines. Annual report, page 9
- Completed seven Kiwa PVEL product qualification tests. Annual report, page 9
Results
Consolidated; ₹ crore.Emmvee Photovoltaic Power quarterly results
Quarter to Sep 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹1,576 Crup 1.34%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹382 Crup 0.46%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 24.2%
Revenue by quarter
Peak revenue ₹1,739 Cr, quarter to Mar 2026; lowest ₹1,028 Cr, quarter to Jun 2025
Net profit by quarter, a loss in red
| ₹ crore | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|
| Revenue | 1,028 | 1,131 | 1,152 | 1,739 | 1,556 | 1,576 |
| Net profit | 188 | 238 | 264 | 392 | 380 | 382 |
| Net margin | 18.3% | 21.0% | 22.9% | 22.6% | 24.4% | 24.2% |
Consolidated. The 6 quarters from Jun 2025, the first on record. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Year to Mar 2026
- Revenue
- ₹5,050 Cr
- Net profit
- ₹1,082 Cr
- Net margin
- 21.4%
| ₹ crore | Mar 2026 |
|---|---|
| Revenue | 5,050 |
| Net profit | 1,082 |
| Net margin | 21.4% |
Consolidated. Years to March. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- Photovaltics Modules (PV)Photovaltics Modules (PV), share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹5,011 Cr99.2%
- OthersOthers, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹39 Cr0.8%
Valuation
Today, against the company's own history.Emmvee Photovoltaic Power PE ratio and valuation
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 99% of 233 trading days since Nov 2025.
LowestHighest
Its median0.00%Industry median0.22%
Mutual fund holdings
75 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 44 of the 57 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 75 funds holding Emmvee Photovoltaic Power
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 2
- AddedAdded. Funds that held more shares than at the end of the month before.
- 42
- CutCut. Funds that held fewer shares than at the end of the month before.
- 15
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 16
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 2
| Fund | |||
|---|---|---|---|
 Franklin India Mid Cap FundFranklin Templeton Mutual Fund | 51,84,957 | 1.35% | ₹163.8 Cr |
 ICICI Prudential Energy Opportunities FundICICI Prudential Mutual Fund | 47,11,844 | 1.85% | ₹148.8 Cr |
 Abakkus Flexi Cap FundAbakkus Mutual Fund | 46,65,000 | 1.88% | ₹147.4 Cr |
 Kotak Equity Savings FundKotak Mahindra Mutual Fund | 45,73,154 | 1.38% | ₹144.5 Cr |
| Franklin India Opportunities FundFranklin Templeton Mutual Fund | 23,61,050 | 0.78% | ₹74.6 Cr |
| ICICI Prudential Aggressive Hybrid FundICICI Prudential Mutual Fund | 19,94,386 | 0.12% | ₹63.0 Cr |
| Abakkus Small Cap FundAbakkus Mutual Fund | 16,16,000 | 1.57% | ₹51.0 Cr |
 Motilal Oswal Business Cycle FundMotilal Oswal Mutual Fund | 14,52,030 | 3.17% | ₹45.9 Cr |
 HDFC Innovation FundHDFC Mutual Fund | 14,39,888 | 1.44% | ₹45.5 Cr |
| Kotak Manufacture in India FundKotak Mahindra Mutual Fund | 13,57,851 | 1.37% | ₹42.9 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Emmvee Photovoltaic Power competitors and peers
Other Electrical Equipment, 84 listed companies, priced on 27 Oct 2026. The table lists the 8 companies closest to Emmvee Photovoltaic Power in market cap.Capital goods stocks
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 Apar IndustriesAPARINDS | 63,449 | 53.70 | 11.76 | +24.0% | +34.0% | 23.9% | 31.9% | 0.40% |
 Premier EnergiesPREMIERENE | 39,131 | 23.50 | 9.08 | +26.7% | – | 46.7% | 27.2% | 0.09% |
 Mtar TechnologiesMTARTECH | 20,738 | 155.41 | 25.21 | +53.4% | +125.1% | 17.2% | 16.1% | 0.00% |
 Diamond Power InfrastructureDIACABS | 20,017 | 101.87 | – | +92.6% | +416.5% | – | 12.2% | 0.00% |
 Avalon TechnologiesAVALON | 14,505 | 108.57 | 20.10 | +44.4% | +67.1% | 20.0% | 18.5% | 0.00% |
 Fujiyama Power SystemsUTLSOLAR | 11,331 | 38.50 | 8.90 | – | – | 23.1% | 33.3% | 0.00% |
 Genus Power InfrastructuresGENUSPOWER | 8,149 | 12.51 | 3.67 | +74.2% | +62.8% | 31.9% | 20.1% | 0.19% |
 Waaree Renewable TechnologiesWAAREERTL | 7,070 | 15.18 | 6.32 | +77.7% | +33.0% | 52.4% | 21.0% | 0.00% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.Emmvee Photovoltaic Power dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossaryHighest ₹1.00 a share, year to Mar 2026.
| Ex-date | Type | Per share |
|---|---|---|
| 18 Sep 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹1.00 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Emmvee Photovoltaic Power announcements
Oct 2026
15 Oct · Analysts
7 Oct · Analysts
1 Oct · Updates
Emmvee Photovoltaic Power share price by year
Each calendar year to 2025.Emmvee Photovoltaic Power share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 192.35 | – | 242.40 | 172.93 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2025 is from its first session, 18 Nov 2025.
Recent sessions
The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 26 Oct 2026 | 235.00 | 245.40 | 234.40 | 240.45 | 240.72 | 20,88,982 | 31.9% |
| 23 Oct 2026 | 248.00 | 250.00 | 231.95 | 235.95 | 236.39 | 47,77,889 | 50.0% |
| 22 Oct 2026 | 255.00 | 260.95 | 247.10 | 249.05 | 252.87 | 19,48,587 | 38.0% |
| 21 Oct 2026 | 270.90 | 272.00 | 254.00 | 254.95 | 258.89 | 26,45,737 | 52.8% |
| 19 Oct 2026 | 279.95 | 280.65 | 266.55 | 270.10 | 271.58 | 25,55,697 | 39.9% |
| 16 Oct 2026 | 283.00 | 283.65 | 268.25 | 277.20 | 274.07 | 46,87,241 | 29.8% |
| 15 Oct 2026 | 307.00 | 307.00 | 276.00 | 282.10 | 285.62 | 1,09,92,268 | 34.5% |
| 14 Oct 2026 | 300.95 | 306.65 | 297.45 | 299.40 | 300.00 | 33,06,090 | 60.0% |
| 13 Oct 2026 | 297.60 | 300.00 | 291.40 | 299.05 | 295.69 | 11,49,493 | 50.2% |
Prices in ₹ per share as traded, not adjusted.
Company details
- Chairperson and managing director
- Manjunatha Donthi Venkatarathnaiah
- At the end of the quarter to Jun 2026
- NSE symbol
- EMMVEE
- BSE code
- 544608
- ISIN
- INE1C6T01020
- Industry
- Electrical Equipment
- Website
- www.emmveepv.com
- CIN
- L26101KA2007PLC042197
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 2007
- Registered office
- 13/1, International Airport Road, Bettahalasur Post, Bengaluru 562157, Karnataka
- Share registrar
- KFin Technologies Ltd
- Keeps the register of shareholders and handles transfers and dividend payments
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