Emmvee Photovoltaic Shares Surge 7% Following Jefferies Target Price Upgrade
Emmvee Photovoltaic shares climb 7%, Jefferies raises target price to Rs 350
The Economic Times
Image: The Economic Times
Emmvee Photovoltaic Power shares rose 7% to ₹292 after Jefferies upgraded its target price to ₹350 based on strong Q4FY26 earnings. The company reported a 62% year-on-year revenue increase, supported by a robust order book and growth visibility through FY28.
- 01Emmvee's shares climbed 7% to ₹292 amid strong earnings.
- 02Jefferies raised its target price to ₹350, reiterating a 'Buy' rating.
- 03Q4FY26 revenue increased 62% year-on-year to ₹1,740 crore.
- 04The company's EBITDA and profit after tax exceeded Jefferies' estimates by 13% and 17%, respectively.
- 05Emmvee remains net debt-free and plans to expand its capacity with a new facility.
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Shares of Emmvee Photovoltaic Power increased by 7% to ₹292 during Wednesday's trading session, following a positive earnings report and a target price upgrade from Jefferies to ₹350. For Q4FY26, the company reported a 62% year-on-year revenue growth to ₹1,740 crore, surpassing expectations by 6%. EBITDA rose 58% to ₹570 crore, while profit after tax surged 89% to ₹390 crore, indicating strong operational performance despite a slight contraction in EBITDA margins. Jefferies highlighted the company's healthy order book, which increased by 1% quarter-on-quarter to 9.4 GW, and projected a 26% compound annual growth rate (CAGR) for EBITDA from FY26 to FY28. Emmvee's stock has appreciated 55% over the past three months, reflecting growing investor confidence as the company continues to leverage its net debt-free status for expansion plans.
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The increase in Emmvee's share price reflects investor confidence, which could lead to more investment in the renewable energy sector, potentially creating jobs and boosting local economies.
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