Emmvee Photovoltaic Power LtdNSE:EMMVEE
Current view Q1 2027
Solar panel and cell maker. Made-in-India cells have crossed half of sales now that local-content rules are in force, and that is the higher-margin half; a fully funded plant nearly doubles capacity by March 2027. Management gave its first-ever target this year and still has to prove it, and industry overcapacity is the real risk.
Latest exchange filings last 5 · 5 after Q1 2027
- 11 Sep ’26Corporate Action - Record Date For The Purpose Of Dividend For The FY 2025-26 11 Sep ↗
- 10 Sep ’26Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Sep ↗
- 3 Sep ’26Newspaper Publication - SEBI (LODR) Regulations, 2015 3 Sep ↗
- 2 Sep ’26Notice Of The 19Th Annual General Meeting Of The Company To Be Held On September 25, 2026 2 Sep ↗
- 2 Sep ’26Reg. 34 (1) Annual Report. 2 Sep ↗
Exchange filings, with the company's own one-line summary, read off the same page as the figures. Screener publishes only the most recent few, so this is the last 5 — not everything filed since your note, and a quiet-looking list is not proof of a quiet quarter. A filing is marked new when it is dated after the end of the quarter your note covers. Not scored, and not a judgement — a routine repayment notice and a takeover sit in the same list.
How this view changed
AI concall report · Q1 2027
The full earnings-call read behind this view — what management promised, what they delivered, and the earning trigger.
Growth Q1 2027
| Metric | This year vs lastYoY · vs Q1 2026 | vs the quarter beforeQoQ, sequential · vs Q4 2026 | 3-year yearly average3Y CAGR · compounded | 5-year yearly average5Y CAGR · compounded |
|---|---|---|---|---|
| Sales | ▲ +51.4% | −10.5% | +101.4% | +64.1% |
| Operating profit | ▲ +56.6% | −4.0% | +179.4% | +73.1% |
| EPS | ▲ +73.7% | −3.2% | +23.6% | +12.6% |
| PAT | ▲ +102.1% | −3.1% | — | — |
Tinted rows drive the Tier. Tier = the weaker of YoY Sales and YoY PAT growth. Here the weaker is Sales at +51.4%, which is ≥ 20% → Tier 1.
QoQ is sequential, not a trend. For most Indian companies the March quarter is seasonally the largest, so a June-quarter fall against it is a calendar effect. Only the YoY column feeds the Tier.
Multibagger potential
Good71/100
Cheap, and growing fast. Profit per share grew 24% a year, while the price-tag on its earnings actually got smaller. That gap — real growth nobody has paid up for — is exactly what this score looks for.
₹316 → ₹631 needs the P/E at 18× — it is 17× today, and has ranged 5.8× to 239× over the last 5 years. The rest would come from earnings growing as they have.
What you pay for its profitlog scale · 5-year range
Tripling needs 26× — it has traded there — high was 239×.
At ₹151 the price-tag on its earnings reaches the 8.0× it is being projected toward — the point where being cheap against that yardstick is used up.
Growth still unpaid, one leg weaker. Worth the concall read.
How this is calculated
This is arithmetic, not a forecast — Return = ΔEPS × ΔMultiple. It says what would have to be true, not how likely it is, and "earnings keep growing at this rate for three more years" is the assumption doing the most work. This is a mid-cap at ₹22,263 cr, so the odds of a re-rate are not fighting its own size.
Growth rate used: 23.6% — the weakest of
EPS / Sales / Op-profit from 3-year EPS CAGR. Latest quarter reads 60%. Price move is a proxy (distance from the 40-week EMA) until ret1y is stored.
How it compares with its rivals Solar · 6 of 60 listed
It earns 45% on its capital, more than any of them — the next best earns 38%, and it is the cheapest of those shown.
| Company | Price | P/E | Size | ROCE | Profitlast qtr | Saleslast qtr |
|---|---|---|---|---|---|---|
| Emmvee Photovol. | ₹329 | 17.9× | ₹22,775 Cr | 44.8% | +102.6% | +51.3% |
| Apar Inds. | ₹18,319 | 63.7× | ₹76,707 Cr | 31.8% | +77.8% | +29.1% |
| Waaree Energies | ₹2,532 | 18.1× | ₹72,832 Cr | 38.5% | +14.1% | +79.2% |
| Premier Energies | ₹896 | 24.5× | ₹40,681 Cr | 32.7% | +50.5% | +35.3% |
| MTAR Technologie | ₹7,185 | 161.0× | ₹22,101 Cr | 15.2% | +349.7% | +130.4% |
| Diamond Power | ₹367 | 118.3× | ₹21,949 Cr | 24.2% | +197.8% | +133.0% |
Screener's own peer group, from the request already made for the industry P/E. It serves the industry's largest names by market cap, not companies of a similar size, so treat this as context rather than a like-for-like table; this company is always shown. On a phone the price, size and sales columns are dropped rather than pushed off the edge. Not part of the score.
Business quality to Jun 2026
| Are the margins widening? | yes — widening, and steadily | operating margin 23% → 35% over 21 months |
|---|---|---|
| Did the profit turn into cash? | more than all of it — reserves released cash too | 23% last year, 108% over three · free cash flow −₹440 cr, positive in 1 of 5 years |
| Is the growth borrowed? | essentially debt-free | ₹360 cr — 0.10× its own equity (was 3.85×) |
| Is it being collected? | customers are taking longer to pay | 50 days to collect, up 20 in a year · cash cycle 159 days |
| Who has been buying? | promoter stake unchanged on record | promoters 80.0% · FIIs 2.9% · DIIs 9.8% |
| What does it earn on its capital? | earns a high return on the capital it employs | ROCE 44.8% · ROE 51.1% |
Fetched from the filings, not typed — and deliberately not part of the score. These are the questions the score cannot ask: it reads growth, price and trend, so a company can score well while its profit never becomes cash. Weigh these beside the note, not against the number.
Screener's own checklist not mine, not the score
In its favour
- Company has reduced debt.
- Company is expected to give good quarter
- Company has delivered good profit growth of 158% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 56.4%
Against it
- Debtor days have increased from 38.9 to 50.2 days.
- Working capital days have increased from -13.3 days to 88.3 days
Generated by screener.in from a fixed checklist — not written by me and not an input to the score. It is here as a second machine opinion to weigh against the note; where it disagrees with the view above, the note is the considered one.