Fujiyama Power Systems Limited, one of India’s leading providers of rooftop solar solutions, has announced its audited annual financial results and limited-reviewed quarterly financial results for the year ended 31st March 2026.

Financial Performance: Q4 and FY26

Q4 FY26 Revenue from Operations at INR 9,008 million as compared to INR 4,803 million in the same period last year; up 87.5% Y-o-Y.

For the full year, Revenue from Operations reached INR 26,545 million, registering a growth of 72.3% over the previous year.

Q4 FY26 EBITDA at INR 1,715 million as compared to INR 790 million last year; up 116.9% Y-o-Y with a margin of 19 percent.

Q4 FY26 Profit After Tax at INR 1,063 million as compared to INR 512 million in the same period last year; up 107.5% Y-o-Y with a margin of 11.8 percent.

Total Channel Partners as of 31st March 2026 8,900+

Fujiyama Power Systems Q4 FY2026

Key Business Highlights

Added over 80 distributors, 450 dealers, and 30 exclusive Shoppes in Q4 FY2026

Setting up a 1,200 MW TOPCon solar cell manufacturing facility at Ratlam, Madhya Pradesh, India, with an investment of around INR 350 crore

Commissioned 2,000 MW solar panel manufacturing capacity at Ratlam, Madhya Pradesh, India.

Leadership View

Commenting on the performance, Pawan Kumar Garg, Chairman and Joint Managing Director, said –

Following the successful completion of our IPO, FY2026 marks our first full year of financial reporting post becoming a listed company and an important step forward in our growth journey.

During the year, we continued to scale operations, strengthen integration across the rooftop solar value chain, and expand our reach across key markets.

The demand environment for residential rooftop solar and power-backup solutions remained supportive, driven by increasing adoption across Tier-2 and Tier-3 cities, favourable government policies, and rising consumer preference.

Looking ahead, the outlook for residential solar solutions remains favourable, supported by policy continuity, increasing awareness, and rising demand for reliable power solutions.

As we move forward, our focus will remain on expanding capacity, strengthening backward integration, improving operating efficiencies, and further expanding our distribution reach.

We remain committed to delivering high-quality and dependable solar solutions while continuing to create long-term value for all stakeholders.

Company Overview & Others

Overview: Fujiyama Power Systems is one of India’s leading providers of rooftop solar solutions, offering an extensive portfolio across solar panels, inverters, lithium and tubular batteries, chargers, and power-electronics systems. The Company planned an IPO in November 2025.

Market Cap: Fujiyama Power Systems has a total market capitalization of ₹8,700 crore as of May 15, 2026, according to the NSE data.

Technical: The stock is currently trading above its 20-day and 50-day simple moving averages (SMAs).

Price Performance: On a year-to-date basis, Fujiyama Power’s share increased by 27% and by 34% over the last three-month period. However, the company’s shares have been trading 18% higher over the last month.

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Disclaimer: This article is purely for informational purposes. While much time and effort is made to provide the information, I (Vishal Dalwadi) or (FinBlab) do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.

The post Fujiyama Power Systems Q4 FY2026 appeared first on Upcoming ipos: Latest news on stocks, economy & finance.

[Fresh Issue ₹600 Cr + OFS ₹228 Cr]

Fujiyama power systems ipo price is ₹216 – ₹228 per share

Fujiyama Power Systems: History

The Company was originally incorporated as Fujiyama Power Systems Private Limited, a private limited company under the Companies Act, 2013, on December 12, 2017.

The Company was then converted into a public limited company under a special resolution passed by the shareholders on October 10, 2024. Its name was subsequently changed to Fujiyama Power Systems Limited, as per a fresh certificate of incorporation issued by the RoC on November 20, 2024.

LAST ARTICLE – Tenneco Clean Air IPO Review

Business

Fujiyama Power Systems Ltd. manufactures products and provides solutions in the rooftop solar industry, including off-grid, on-grid, and hybrid solar systems.

The company offers a diverse range of products, including –

• Solar PCUs,
• Off-grid, On-grid, and Hybrid Inverters,
• Solar Panels,
• PWM & other Battery Chargers,
• Lithium-Ion and Tubular Batteries,
• Online and Offline UPS Systems,
• Solar Management Units, and
• Charge Controllers.

The Company has been recognized as –

• India’s largest Company in off-grid inverters at the Solar Applications and Innovation conference by Sigma Summit in 2019,
• India’s most preferred “smart city brand” by UBM India in 2019, and
• India’s most preferred solar energy brand by Informa Market in 2020.

The company exports its products to Asian countries, Bangladesh, the UAE, and the USA.

Manufacturing Facilities

The company has 4 manufacturing facilities in –

1. Bawal, Haryana,
2. Dadri, Uttar Pradesh,
3. Greater Noida, Uttar Pradesh, and
4. Parwanoo, Himachal Pradesh.

Distribution Network

• The company serves clients through an extensive distribution network, comprising over 725 distributors, 1,100 Shoppe franchisees, and 5,546 dealers.
• It has more than 600 qualified service engineers providing technical and maintenance support.

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Strategies Ahead

• Expand the manufacturing base for batteries, inverters, and solar panels, and strengthen back-end integration in solar panels.
• Strengthening domestic distribution and retail network.
• Focus on increasing export sales.
• Address market opportunities with a focus on developing more efficient products.

Company Promoters

1. Pawan Kumar Garg,
2. Yogesh Dua,
3. Sunil Kumar.

Refer to Fujiyama Power Systems IPO RHP for more information.

IPO Details

IPO date: 13 – 17 Nov 2025

Minimum Amount: ₹14,820

Minimum Bid: 65 Shares

Face Value (FV): ₹1

Listing On = NSE, BSE

Book Running Lead Managers

Motilal Oswal Investment Advisors

SBI Capital Markets

Financial

CONCLUSION

FinBlab recommends ‘SUBSCRIBE‘ ratings on Fujiyama Power Systems IPO (keeping long-term view in mind)

Do come back to know more about “upcoming ipos“

Disclaimer: The contents and data presented here are just for your information & personal use only. While much effort is made to provide the information, I (Vishal Dalwadi) or FinBlab do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.

The post Fujiyama Power Systems IPO – Review appeared first on Upcoming ipos: Latest news on stocks, economy & finance.