Fujiyama Power Systems Ltd — earnings calls

Fujiyama Power Systems reported Q1 FY27 revenue from operations of Rs. 13,457 million, up 125.3% year-on-year, with EBITDA rising 140.6% and margin expanding to 18.9% from 17.7%. A fire at the Bawal facility led to a provisional exceptional loss of Rs. 1,436 million, bringing reported PAT to Rs. 578 million, while normalized PAT (excluding the fire provision) was Rs. 1,652 million, up 144.5% year-on-year. Management raised its full-year revenue growth guidance from 50% to 70%, cited progress on Ratlam capacity commissioning and distribution network expansion, and increased its stake in Zayo Energy and Zayo Cables from 19% to 50% each as part of backward integration.

Fujiyama Power Systems reported Q4 FY26 revenue from operations of Rs. 9,008 million, up 87.5% year-on-year, with EBITDA more than doubling to Rs. 1,715 million, while full-year FY26 revenue reached Rs. 26,545 million, up 72.3%, with EBITDA margins expanding to 18.5%. Management discussed a fire incident at the Bawal lead-acid battery facility that suspended operations there, delays in commissioning power electronics and battery lines at Ratlam due to technology upgrades and geopolitical supply issues, and plans for a new 1,200 megawatt TOPCon solar cell facility. Management also addressed rising inventory levels, BIS seizure notices on a small number of SKUs, and provided guidance of 50% revenue growth for the coming year.