Fujiyama Power Systems Ltd Share Price – NSE  / BSE

Capital Goods - Electrical Equipment, Small Cap

Profit before tax (PBT) soared 100.41% YoY to Rs 84.61 crore in Q2 FY26.

EBITDA stood at Rs 103.0 crore, recording the growth of 105.7% compared with Rs 50.1 crore posted in corresponding quarter last year. EBITDA margin improved to 18.1% in Q2 FY26 as against 15.2% in Q2 FY25.

As on 30th September 2025, total debt stood at Rs 674 crore.

On first half basis, the company?s standalone net profit jumped 73.76% to Rs 130.48 crore in H1 FY26 compared with Rs 75.09 crore in H1 FY25. Revenue from operations increased 61.45% YoY to Rs 1165.25 crore in H1 FY26.

Pawan Kumar Garg, chairman and joint managing director, said: ?Following the successful completion of our IPO, Fujiyvama has entered a new phase of growth, supported by strong financial strength and a clear roadmap for expansion. We are positioned to accelerate our expansion plans, deepening backward integration and broadening our nationwide footprint. With India?s renewable-energy transition gaining momentum and rooftop adoption rising meaningfully across Tier-2 and Tier-3 cities, we remain well placed to serve a growing share of the residential and distributed-solar market through our integrated and high-quality product ecosystem.

Our distribution network remains one of our biggest strengths and continues to deepen across India?s high-demand regions. In Q2 FY26, we added more than 70 distributors, over 350 dealers and more than 20 exclusive Shoppes. With more than 7,500 channel partners and a strong team of service engineers, we are able to reach households across diverse geographies and deliver a seamless customer experience from product selection to installation and after-sales service.

On the product mix, solar panels accounted for 45.4% of total revenue in H1 FY26, compared to 36.5% in H1 FY25. A large part of this growth has been driven by the off-grid category, highlighting our strong positioning in power-backup led rooftop solar. Our B2C business contributed 91.7% to revenue in H1 FY26, compared to 90.3% last year, reflecting the deepening retail franchise and the effectiveness of our customer engagement initiatives.?

Shares of Fujiyama Power Systems entered into the stock market on 29 November 2025. The counter listed at Rs 218.40, reflecting a 4.21% discount to the issue price. IPO was subscribed 2.14 times. The issue opened for bidding on 13 November 2025, and it closed on 17 November 2025.

Fujiyama Power Systems is a manufacturer of products and a solution provider in the rooftop solar industry, including on-grid, off-grid, and hybrid solar systems. It manufactures solar panels, solar inverters (covering on-grid, hybrid, and off-grid solutions), and both lead-acid and lithium-ion batteries. Its portfolio is marketed under two brands: UTL Solar and Fujiyama Solar.

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Fujiyama Power Systems will hold a meeting of the Board of Directors of the Company on 8 December 2025.

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The stock listed at Rs 218.40, reflecting a 4.21% discount to the issue price.

So far, the stock has hit a high of 228.80 and a low of 215.75. On the BSE, over 4.65 lakh shares of the company were traded in the counter so far.

Fujiyama Power Systems was subscribed 2.14 times. The issue opened for bidding on 13 November 2025, and it closed on 17 November 2025. The price band of the IPO is fixed between Rs 216 and 228 per share.

The issue comprised both a fresh issue of equity shares of Rs 1 face value, aggregating Rs 600 crore, and an offer for sale of 1,00,00,000 equity shares by promoters (50,00,000 equity shares each by Pawan K Garg & Yogesh Dua).

Of the net proceeds from the fresh issue, the company intends to spend Rs 180 crore towards partially financing the cost of establishing the manufacturing facility at Ratlam and Rs 275 crore towards repayment and/or prepayment of all or a portion of certain outstanding borrowings availed by the company and the balance for general corporate purposes.

Outstanding borrowing as of 30 September 2025 stood at Rs 687.654 crore.

Fujiyama Power Systems is a manufacturer of products and a solution provider in the rooftop solar industry, including on-grid, off-grid, and hybrid solar systems. It manufactures solar panels, solar inverters (covering on-grid, hybrid, and off-grid solutions), and both lead-acid and lithium-ion batteries.

UTL Solar and Fujiyama Solar, the two brands of the company, have strong brand recall. UTL Solar has a legacy of 29 years.

The company offers over 522 SKUs with various combinations that can be tailored to meet the specific preferences and requirements of the customer and their location About 42.96% of the revenue from operations in FY 2025 was accounted for by solar panels, 20.58% from batteries, 29.83% from inverter chargers and UPS, and the balance of 6.63% from services and other operating income.

As of June 30, 2025, the company had an extensive pan-India distribution network of 725 distributors, 5,546 dealers, and 1,100 exclusive UTL solar ?Shoppe? franchisees. The company also exports its products and solutions to the USA and a few countries in Asia, including Bangladesh and the UAE. Export sales account for 2.45% and 4.19% in FY2025 and FY2024, respectively.

Ahead of the IPO, on 12 November 2025, the company raised Rs 246.89 crore from anchor investors by allotting 1.08 crore shares at Rs 228 each to 15 anchor investors.

For the quarter ended 30 June 2025, Fujiyama Power Systems reported a consolidated net profit of Rs 67.59 crore on sales of Rs 597.35 crore.

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The equity Shares of Fujiyama Power Systems (Scrip Code: 544613) are listed effective 20 November 2025 and admitted to dealings on the exchange in the list of ''B'' group securities. At 09:52 IST, the stock was quoting at a discount of 4.21% to the issue price of Rs 228.

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