Fujiyama Q2 FY2027 slides: revenue doubles, solar cell expansion underway

Fujiyama Power Systems Ltd. reported a significant 130% year-over-year revenue growth in Q2 FY2027, reaching INR 13,068 million. The integrated solar solutions provider is expanding its manufacturing and retail distribution capabilities, focusing on India's residential rooftop solar market. The company's strong performance is attributed to its backward integration strategy, including a newly commissioned 1 GW Mono PERC solar cell manufacturing facility at Dadri and plans for a 1.2 GW TOPCon solar cell line at Ratlam.

Fujiyama's business model, which caters primarily to business-to-consumer channels, differentiates it from pure module manufacturers and provides a one-stop shop advantage. The company's expansion aligns with the Indian government's PM Surya Ghar Muft Bijli Yojana program, which aims to scale residential solar adoption across India.