āagmanLoginNot investment advice. Data and computed figures, for information only.
Emmvee Photovoltaic Power Ltd
₹282.10
−₹17.30 (−5.78%)
NSE · 15 Oct 2026, close
Market Cap
₹20,774 Cr
CMP
₹282.10
52-wk High / Low
₹372 / 172
P/E
16.3
P/B
5.6
Book Value
₹53.4
Div Yield
0.33%
ROCE
45.0%
ROE
50.7%
Face Value
₹2
D/E
0.10
Price+28.6% over Max
āagman read
Computed by āagmanPiotroski F-Score
6
/ 9
6 of 9 F-score tests passed
Graham Number
₹137
√(22.5 × EPS × book value per share)
ROIC
28.7%
vs 12.3% sector median
Cash flow to profit
0.18
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+117
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
48.0%
ROE × earnings retention ratio
ROE stability
23.0
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII +0.47DII −2.48
Latest quarter vs the previous one
Cash-accrual divergence
18.2%
of assets
Low = accruals track cash flow
Strengths
+Price trades above its 200-day moving average (1.0x)
+PE of 16.3x is below the sector median of 43.6x
Watch-outs
−Annualised volatility of 51.6% is in the high band (≥45%)
−Balance-sheet accruals of 18.2% of average assets — earnings are not cash-backed
Peer comparison
| Name | P/E | Mar Cap ₹ Cr | ROCE % | ROE % |
|---|
Quarterly results
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 402 | 528 | 1,072 | 1,028 | 1,131 | 1,152 | 1,739 | 1,556 |
| Expenses | 310 | 326 | 711 | 677 | 732 | 739 | 1,168 | 1,007 |
| Operating Profit | 93 | 202 | 361 | 350 | 399 | 413 | 571 | 548 |
| OPM % | 23.1% | 38.3% | 33.7% | 34.0% | 35.3% | 35.9% | 32.8% | 35.2% |
| Other Income | 11 | 10 | 3 | 14 | 18 | 16 | 5 | 16 |
| Interest | 17 | 37 | 46 | 53 | 55 | 33 | 13 | 11 |
| Depreciation | 23 | 54 | 66 | 72 | 71 | 74 | 79 | 84 |
| Profit before tax | 64 | 122 | 253 | 240 | 292 | 322 | 484 | 470 |
| Net Profit | 35 | 99 | 207 | 188 | 238 | 264 | 392 | 380 |
| EPS (₹) | 32.54 | 91.92 | 38.39 | 3.16 | 4.01 | 3.81 | 5.67 | 5.49 |
Profit & Loss
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 555 | 424 | 555 | 618 | 952 | 2,336 | 5,050 | 5,578 |
| Expenses | 451 | 312 | 451 | 562 | 832 | 1,614 | 3,316 | 3,646 |
| Operating Profit | 105 | 113 | 104 | 56 | 120 | 722 | 1,734 | 1,932 |
| OPM % | 18.9% | 26.7% | 18.7% | 9.1% | 12.6% | 30.9% | 34.3% | 34.6% |
| Other Income | 9 | 2 | 12 | 26 | 3 | 25 | 54 | 56 |
| Interest | 65 | 62 | 49 | 28 | 34 | 108 | 155 | 113 |
| Depreciation | 39 | 52 | 42 | 43 | 42 | 156 | 296 | 308 |
| Profit before tax | 9 | 1 | 25 | 12 | 48 | 483 | 1,338 | 1,567 |
| Net Profit | 14 | 9 | 13 | 9 | 29 | 369 | 1,082 | 1,274 |
| EPS (₹) | 12.61 | 8.63 | 12.62 | 8.28 | 26.78 | 68.39 | 15.62 | 18.98 |
Balance Sheet
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 138 | — |
| Reserves | 159 | 168 | 170 | 130 | 158 | 526 | 3,556 | — |
| Borrowings | 570 | 603 | 482 | 524 | 1,447 | 2,065 | 360 | — |
| Other Liabilities | 134 | 93 | 178 | 173 | 558 | 1,312 | 1,718 | — |
| Total Liabilities | 873 | 874 | 842 | 838 | 2,173 | 3,914 | 5,772 | — |
| Fixed Assets | 593 | 562 | 493 | 323 | 291 | 2,046 | 2,634 | — |
| CWIP | 1 | 6 | 14 | 93 | 646 | 13 | 10 | — |
| Investments | 1 | 1 | 1 | 0 | 0 | 257 | 57 | — |
| Other Assets | 279 | 305 | 334 | 421 | 1,237 | 1,598 | 3,072 | — |
| Total Assets | 873 | 874 | 842 | 838 | 2,173 | 3,914 | 5,772 | — |
Cash Flows
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 181 | 75 | 129 | 59 | 234 | 625 | 200 |
| Cash from Investing Activity | −16 | −24 | 20 | −131 | −1,000 | −986 | −306 |
| Cash from Financing Activity | −219 | −54 | −84 | 80 | 894 | 397 | 130 |
| Net Cash Flow | −55 | −2 | 65 | 8 | 129 | 36 | 24 |
Ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| ROCE % | — | 8.0 | 9.0 | 6.0 | 7.0 | 28.0 | 45.0 |
| ROE % | — | — | — | — | — | — | 50.7 |
| EPS (₹) | 12.61 | 8.63 | 12.62 | 8.28 | 26.78 | 68.39 | 15.62 |
| Book Value (₹) | — | — | — | — | — | — | 53.4 |
| Face Value (₹) | — | — | — | — | — | — | 2 |
| P/E | — | — | — | — | — | — | 16.3 |
| Div Yield % | — | — | — | — | — | — | 0.33 |
| NPM % | 2.5 | 2.1 | 2.3 | 1.4 | 3.0 | 15.6 | 21.2 |
| OPM % | 19.0 | 27.0 | 19.0 | 9.0 | 13.0 | 31.0 | 34.0 |
| D/E | 3.35 | 3.37 | 2.66 | 3.72 | 8.56 | 3.85 | 0.10 |
| P/B | — | — | — | — | — | — | 5.6 |
Growth
Compounded sales growth
5 years+64.0%
3 years+101.0%
TTM+84.0%
Compounded profit growth
5 years+158.0%
3 years+393.0%
TTM+141.0%
Return on equity
5 years50.0%
3 years56.0%
Last year51.0%
Documents
Announcements
Board Meeting Intimation for Consider And Approve The Unaudited Financial Results (Standalone And Consolidated) Of The Company For The Quarter And Half Year Ended September 30, 2026.Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAnnouncement Under Regulation 30 Of SEBI LODRUpdate19Th AGM Voting Results And Scrutinizer''s ReportAnnual reports
Annual Report 2026Corporate actions
18 Sep 2026DIVIDENDDividend - Re 1 Per Sh—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman