Fujiyama Power Systems
Stock Snapshot
Price Performance
Vista Outlook
View Technicals Analysis →Basis of our Recommendation
Fujiyama Power Systems is poised for significant growth, driven by management's confidence in strong demand for rooftop solar solutions, bolstered by government initiatives like PM Surya Ghar Yojana. The recent commissioning of a 2 GW solar panel facility and plans for a 1.2 GW TOPCon cell manufacturing facility are expected to enhance margins and competitive positioning. Management anticipates a 50% revenue growth in FY27, supported by the Ratlam facility's peak revenue potential of Rs. 5,000 crores by FY28. Vista's financial outlook reflects this optimism, with stable margins and a fair valuation aligned with intrinsic value. The anticipated growth in India's power sector, projected at a 9% CAGR, further supports this outlook. However, challenges such as temporary disruptions from a fire incident and ongoing inquiries could pose risks. Over the next 12-24 months, key opportunities include expanding into Tier 2/3 cities and leveraging in-house manufacturing capabilities, while headwinds may arise from import dependencies and evolving cybersecurity protocols
Why We Like This Stock
- Management's confidence in strong demand for rooftop solar solutions driven by government initiatives
- Significant expansion in manufacturing capabilities expected to enhance margins and competitive positioning
- Projected 50% revenue growth in FY27, supported by the Ratlam facility's peak revenue potential
Things To Watch Out For
- Temporary disruptions from a fire incident at the Bawal plant could impact short-term operations
- Ongoing inquiries may create uncertainty in operational continuity
- Import dependencies and evolving cybersecurity protocols present potential risks
Key Parameters
Financial Snapshot
| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 925 | 1,541 | 2,655 | 3,695 | 5,278 |
| Profit Before Tax (Cr.) | 63 | 213 | 408 | 617 | 863 |
| PBT Margin | 6.8% | 13.8% | 1536.7% | 16.7% | 16.4% |
| Net Profit (Cr.) | 52 | 165 | 319 | 485 | 679 |
| Earnings Per Share | 1.7 | 5.4 | 10.4 | 15.8 | 22.1 |
Analyst Recommendations
No analyst recommendations available.
Company Overview
Show Company Profile
Fujiyama Power Systems Limited manufactures and sells roof-top solar products and solutions under the UTL Solar and Fujiyama Solar brands in India and internationally. It offers solar power generation systems, such as solar panels, hybrid solar inverter, off and on- grid inverter, online solar power conditioning units, solar management unit, and lithium-ion and tubular lead acid batteries; power backup solutions comprising online uninterruptible power supplies and inverters; power supply solutions, including hybrid charge controller units; and electronic vehicle, marine, and engine start chargers. The company was founded in 1996 and is based in Greater Noida, India.