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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Emmvee Photovoltaic Power
Emmvee Photovoltaic Power (EMMVEE) investor relations material
Emmvee Photovoltaic Power Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary14 Oct, 2026
Executive summary
H1 FY27 revenue from operations rose 45.1% YoY to ₹3,131.9 crore; EBITDA increased 47.4% to ₹1,105.0 crore and PAT advanced 79.1% to ₹762.3 crore.
Q2 FY27 revenue from operations grew 39.4% YoY to ₹1,576.4 crore; PAT increased 60.6% to ₹382.0 crore.
Q2 production reached 952 MW of modules and 513 MW of cells; the 10.4 GW order book included ~1.5 GW of Q2 inflows.
Financial highlights
Q2 EBITDA was ₹556.9 crore, up 39.4% YoY; EBITDA margin held at 35%.
Q2 gross profit was ₹669.2 crore, up 25% YoY, while gross margin was 42% versus 47%; PAT margin rose to 24% from 21%.
H1 operating cash flow was ₹409.9 crore versus ₹120.7 crore in H1 FY26; H1 finance costs fell to ₹20.5 crore from ₹108.4 crore.
Consolidated Q2 EPS was ₹5.52 versus ₹4.01 YoY; H1 EPS was ₹11.01 versus ₹7.17.
Outlook and guidance
The 6 GW integrated TOPCon expansion is expected to commission the module line by December 2026 and the cell line by March 2027; utilisation and commercial sales are expected to ramp progressively.
Post-expansion annual capacity is expected to reach ~16.3 GW of modules and ~8.9 GW of cells by early FY28.
A phased 9 GW ingot and wafer project is planned: 5 GW in FY29 and 4 GW in FY30, subject to ALMM III timing clarity and market conditions.
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Emmvee Photovoltaic Power
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