Fujiyama Power Systems commissions 2,000 MW solar panel facility at Ratlam

Yash Agarwal — Thu, 14 May 2026 16:49:59 +0000

Fujiyama Power Systems Limited has announced the commissioning of its 2,000 MW solar panel manufacturing facility at Ratlam, Madhya Pradesh. This development is part of the company’s large-scale greenfield manufacturing expansion project aimed at strengthening its integrated solar manufacturing capabilities. The facility is designed to support a manufacturing capacity of 2,000 MW each for solar panels, batteries, and inverters.

Initially, the Ratlam plant will operate at an annualised capacity of approximately 1,000 MW under a single-shift operation, with plans to gradually ramp up through double shifts to achieve full capacity utilisation by the fourth quarter of FY27. With this new facility, Fujiyama’s total solar panel manufacturing capacity has increased to 3,568 MW.

The company faced delays in the commissioning of power electronics and battery manufacturing capacities due to the incorporation of the latest advancements in lithium-ion battery technology and geopolitical developments affecting supply timelines. However, these issues have been largely addressed. The inverter manufacturing line is expected to be commissioned in the first quarter of FY27, with the necessary machinery already received at the facility. Additionally, machinery orders for the battery manufacturing line have been placed, with commissioning expected in the second quarter of FY27.

This expansion at Ratlam further strengthens Fujiyama’s manufacturing footprint and supports its long-term strategy of increasing backward integration, improving supply-chain efficiencies, and expanding manufacturing scale. Commenting on the commissioning, Chairman and Joint Managing Director, Pawan Kumar Garg, stated, “The commissioning of our solar panel manufacturing facility at Ratlam marks an important milestone in Fujiyama’s growth journey and manufacturing expansion strategy. This greenfield project strengthens our ability to serve the rapidly growing domestic rooftop solar market with higher manufacturing scale, improved operational efficiencies and greater control across the value chain.”

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Fujiyama reports Rs 9,008 million Q4 revenue, up 87.5% YoY

Kinjal — Thu, 14 May 2026 16:41:51 +0000

Fujiyama Power Systems Limited, a leading provider of rooftop solar solutions in India, has reported significant growth in its financial performance for the fourth quarter and fiscal year ending 31st March 2026. The company recorded a revenue from operations of ₹9,008 million for Q4 FY26, marking an 87.5% increase compared to the same period last year. Furthermore, the company’s Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) rose by 116.9% year-on-year to ₹1,715 million, with a margin of 19.0%.

The Profit After Tax (PAT) for the quarter stood at ₹1,063 million, reflecting a 107.5% year-on-year growth, with a margin of 11.8%. For the full fiscal year 2026, Fujiyama achieved a revenue of ₹26,545 million, a 72.3% increase from the previous year, while the EBITDA reached ₹4,903 million, up 97.3% year-on-year, with margins improving to 18.5% from 16.1% in FY25.

The company added over 80 distributors, 450 dealers, and 30 exclusive Shoppes in Q4 FY26, expanding its total channel partner base to more than 8,900 as of March 2026. Fujiyama is also setting up a 1,200 MW TOPCon solar cell manufacturing facility in Ratlam, Madhya Pradesh, with an investment of approximately ₹350 crore. Additionally, the company commissioned a 2,000 MW solar panel manufacturing capacity at the same location.

Pawan Kumar Garg, Chairman and Joint Managing Director of Fujiyama Power Systems, highlighted the company’s growth and expansion initiatives, stating that the demand for residential rooftop solar and power-backup solutions continues to be supported by favourable government policies and rising consumer preference. The company aims to expand capacity, strengthen backward integration, and enhance its distribution network to meet the growing demand for reliable power solutions.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Pawan Kumar Garg | Business Upturn

Fujiyama Power Systems commissions 2,000 MW solar panel facility at Ratlam

Fujiyama reports Rs 9,008 million Q4 revenue, up 87.5% YoY