Fujiyama Power Systems Ltd. reported a 130.1% year-on-year (YoY) increase in revenue from operations to ₹1,306.8 crore in the second quarter of FY27, supported by demand for residential rooftop solar systems and power backup solutions. The company’s EBITDA rose 116.4% YoY to ₹222.9 crore, while profit after tax (PAT) increased 111.2% to ₹132.9 crore for the quarter ended September 30, 2026.
Despite the growth in revenue and profit, the company’s EBITDA margin stood at 17.1%, compared with 18.1% in the corresponding quarter of the previous financial year. PAT margin also declined to 10.2% from 11.1%. Fujiyama attributed the moderation in margins to lower sales realisations adopted to increase sales volumes and gain market share.
For the first half of FY27, revenue from operations increased 127.6% YoY to ₹2,652.5 crore, while EBITDA grew 128.7% to ₹477.7 crore, with an EBITDA margin of 18%. Normalised PAT, excluding the exceptional item related to the Bawal manufacturing facility fire, stood at ₹298.1 crore.
The company also advanced its manufacturing expansion during the quarter by commissioning a 2 GW power electronics manufacturing facility at Ratlam, Madhya Pradesh. The facility produces solar inverters, uninterruptible power supply (UPS) systems and other power electronics products, taking Fujiyama’s total power electronics manufacturing capacity to 4.1 GW.
Fujiyama is developing a 3 GWh lithium-ion battery manufacturing facility at Ratlam, expected to be commissioned in the coming quarters. It is also setting up a 1.2 GW solar cell manufacturing facility at the same location with an investment of approximately ₹350 crore, targeted to begin operations by Q1 FY28. The company plans to establish a 1 GWh tubular battery manufacturing facility at Hathras, Uttar Pradesh, with an investment of around ₹20 crore, expected to be commissioned by Q3 FY27.
During Q2 FY27, Fujiyama added more than 100 dealers and 30 distributors, 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, highlighted progress in manufacturing expansion and backward integration across solar panels, power electronics and batteries. He also noted that demand for residential rooftop solar and power backup solutions remained favourable, supported by government initiatives, rising consumer awareness and increasing adoption across Tier 2 and Tier 3 markets.
