Recently Listed Solar IPO: This Roof-top Solar Products Manufacturer Jumps Over 4% On Tuesday

On Tuesday, shares of Fujiyama Power Systems Ltd jumped over 4 per cent to Rs 192.32 per share from its previous closing. The stock has a 52-week high of Rs 231 per share and a 52-week low of Rs 192.10 per share. The company has a market cap of over Rs 5,700 crore and the stock is up by 10 per cent from its 52-week low of Rs 192.10 per share.

The Ministry of New and Renewable Energy (MNRE) has included Fujiyama Power Systems Limited in the fifth revised Approved List of Models and Manufacturers (ALMM) List-II for solar cells.

The company has been approved for a manufacturing capacity of 437 MW per year for its bifacial mono-C-Si solar cells. These cells have an average efficiency of 23.41 per cent, with a range between 22.60 per cent and 23.60 per cent. The approved wattage for the solar cells ranges from 7.46 W to 7.79 W.

This ALMM listing is valid from February 13, 2026, to February 12, 2030. Fujiyama Power Systems Limited’s manufacturing facility is located in Nangla Chamroo, Gautampuri, Dadri, Gautam Buddha Nagar, Uttar Pradesh, India.

Fujiyama Power Systems Limited reported stellar growth for Q3 FY26, with Revenue from Operations surging 73.8 per cent year-on-year to Rs 5,885 million. This robust top-line performance was matched by significant margin expansion, as EBITDA more than doubled to Rs 1,099 million (18.7 per cent margin) and PAT jumped 124.3 per cent to Rs 673 million. These gains were driven by a favourable demand environment for residential rooftop Solar and by the company’s growing operational scale, particularly in Tier-2 and Tier-3 markets.

Strategically, the company hit a major milestone by commissioning a 1 GW Mono PERC solar cell manufacturing facility in Dadri, Uttar Pradesh, aimed at captive consumption and supply-chain resilience. This backward integration, supported by an investment of Rs 300 crore, reduces import Reliance and enhances cost control. Simultaneously, Fujiyama continues to widen its reach, adding over 480 new channel partners this quarter to bring its total network to 8,200+, while remaining on track to commission its 2 GW integrated facility in Ratlam by Q4 FY26.

Financial Performance Summary: Q3 FY26

About Fujiyama Power Systems

Fujiyama Power Systems Limited is a premier Indian solar energy provider with nearly three decades of expertise and a diverse portfolio of over 500 SKUs, ranging from lithium batteries to advanced power electronics. The company utilises an integrated manufacturing model across multiple states, anchored by a massive 2 GW expansion in Ratlam and a commissioned 1 GW solar-cell capacity. Primarily B2C-focused, Fujiyama leverages a vast network of 8,200 channel partners to penetrate Tier-2 and Tier-3 markets, ensuring efficient installation and after-sales support. By combining backward integration with deep distribution, the firm is strategically poised to lead India’s rapidly growing rooftop solar sector.

Disclaimer: The article is for informational purposes only and not investment advice