Shares of Fujiyama Power Systems, a provider of rooftop solar solutions, are likely to be on investors’ radar as the company has received a BUY rating after it said its net profit more than doubled to Rs 132.9 crore in the September quarter compared to the year-ago period. The net profit was Rs 62.9 crore in the quarter ended September 30, 2025. Revenue from operations rose to Rs 1,306.8 crore from Rs 567.9 crore a year ago. Amid this, the company’s shares opened in the green at Rs 354.25 against the previous close of Rs 354.20 on the BSE. The counter gained a bit further to touch an intraday high of Rs 354.60, before profit booking and a fall to an intraday low of Rs 347.70, a drop of Rs 6.5 or 1.83 per cent from the last closing price.ย
Last seen, the stock was trading at Rs 349.05, with a fall of Rs 5.15 or 1.45 per cent, and the market cap of the company stood at Rs 10,726.77 crore.ย
MOFSL maintains BUY rating
Brokerage Motilal Oswal Financial Services (MOFSL) has maintained its BUY rating on the stock and has given a target price of Rs 500.ย
In its report, MOFSL said the company’s growth was driven by higher sales volume, strong demand under the PM Surya Ghar Muft Bijli Yojana (PMSGM BY) linked to the Japanese company Mitsubishi UFJ Financial Group (MUFG), expansion of the distribution network, and improved after-sales services.
The brokerage expects the company’s earnings to grow rapidly in the second half of FY2026-27 (H2 FY27), with profit margins remaining strong.
Setting up 1.2 GW solar cell plant in MP
The company is setting up a 1.2 GW solar cell manufacturing facility in Madhya Pradesh as part of its 2030 vision to become an integrated renewable energy player. The greenfield project is expected to start solar cell production using advanced TopCon technology by the end of the ongoing fiscal year.
After commercial operations begin, the company’s total cell capacity will reach 2.3 GW. Fujiyama operates a 1.1 GW cell plant in Dadri, Uttar Pradesh.
Fujiyama operates a total of 3.6 GW of module capacity – 2 GW in Ratlam, 1.2 GW in Dadri, and 0.4 GW in Noida. Manufacturing of modules requires solar cells. Cell making requires wafers and ingots.
ALSO READ:
Cabinet approves Aqua Line Metro Rail Corridor from Noida Sector 51 to Greater Noida Sector 4
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)