Fujiyama Power Systems (UTLSOLAR) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 revenue rose 73.8% YoY to ₹5,884.77 million; EBITDA more than doubled to ₹1,099 million, with an 18.7% margin.

• 9M FY26 revenue increased 65.4% YoY to ₹17,537.33 million; EBITDA rose 88.1% to ₹3,188 million, reflecting higher scale and deeper backward integration.

• Priorities include capacity expansion, deeper manufacturing integration, wider distribution and improved operating efficiency, amid favourable long-term residential and distributed solar demand.

• Board approved unaudited results for the quarter and nine months ended Dec. 31, 2025; the limited-review auditor conclusion was unmodified.

Financial highlights

• Q3 FY26 revenue from operations was ₹5,884.77 million vs ₹3,385.97 million in Q3 FY25; 9M FY26 revenue was ₹17,537.33 million vs ₹10,603.32 million.

• Q3 FY26 profit before tax was ₹893.62 million vs ₹403.63 million; 9M FY26 was ₹2,639.14 million vs ₹1,413.65 million.

• Q3 FY26 net profit was ₹673.14 million vs ₹300.14 million; 9M FY26 was ₹1,978.02 million vs ₹1,051.04 million.

• Q3 FY26 EBIT was ₹1,012 million, up 111.6% YoY; 9M EBIT rose 88.0% to ₹2,952 million.

• Q3 revenue increased 3.6% QoQ; EBITDA rose 6.7% to ₹1,099 million and PAT increased 7.0% to ₹673 million.

Segment performance

• Operations comprise production and sale of solar power generating systems-related products, predominantly in India; reported as one operating segment under Ind AS 108.