Emmvee Photovoltaic Power Limited has informed the Exchange about Transcript of Q4 & FY26 earnings conference call held on April 29, 2026.

Emmvee reported FY26 revenue of INR 5,049 crores (up 116% YoY), EBITDA of INR 1,734 crores (margin expanded to 34% from 31%), and PAT of INR 1,082 crores (up 193% YoY). The company doubled module production to ~3 GW and tripled cell production to ~1.5 GW, with cell utilization rising from 43% to 70% and reaching 79% in Q4. All module capacity has transitioned to TOPCon technology. The order book expanded from 4.9 GW to 9.4 GW. The 6 GW integrated cell and module facility at Devanahalli is on track: IREDA has sanctioned a INR 3,306 crore loan at 7.95%, module line commissioned by end of calendar year 2026, cell line by end of FY27. A 9 GW ingot-wafer backward integration plan is being evaluated in phases (5 GW Phase 1, 4 GW Phase 2) targeting first facility in FY29 at ~INR 600-700 crore per GW capex. DCR module mix is currently 30-35% and management expects near-full DCR coverage by early next year. Management indicated margins entering FY27 are similar to FY26 levels.