Fujiyama Power Systems Ltd.
•2026-08-21
PROS
- Company has a good return on equity (ROE) track record: 3 Years ROE 36.2%
- Company has a healthy return on capital (ROCE) of 24.9%
- Operating margins have improved to 16.2% from 9.1%
- Company comfortably covers its interest (8.9x coverage)
- Company converts assets efficiently - asset turnover of 1.9x
CONS
- Equity base is being diluted - shares outstanding up 105.2%
- Total debt has risen sharply - up 72.9% year on year
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | SYRMA | 1443.00 | 75.59 | 27825.44 | 0.10 | 105.69 | 111.72 | 1588.62 | 68.29 | 17.70 | 10.17 |
| 2. | KAYNES | 3823.00 | 74.13 | 25627.35 | 0.00 | 56.43 | -24.37 | 946.02 | 40.47 | 13.38 | 15.60 |
| 3. | AVALON | 2242.60 | 112.15 | 14983.20 | 0.00 | 34.87 | 145.31 | 484.41 | 49.83 | 14.12 | 11.96 |
| 4. | UTLSOLAR | 481.20 | 0.00 | 14654.56 | 0.00 | 577.94 | — | 13456.93 | — | 40.63 | 18.94 |
| 5. | VIKRAMSOLR | 171.90 | 17.46 | 6228.87 | 0.00 | 19.78 | -85.17 | 1563.09 | 37.89 | 34.07 | 8.06 |
| 6. | CYIENTDLM | 731.15 | 70.69 | 5804.11 | 0.00 | 16.29 | 118.21 | 373.80 | 34.25 | 10.41 | 9.93 |
| 7. | CENTUM | 3449.60 | 102.62 | 5092.31 | 0.14 | 10.55 | 135.70 | 204.15 | -22.53 | 26.02 | 11.54 |
| 8. | SAATVIKGL | 400.45 | 20.52 | 5089.92 | 0.00 | 53.63 | -54.01 | 5110.10 | 458.04 | 55.18 | 6.62 |
| 9. | WEBELSOLAR | 83.04 | 11.90 | 3605.29 | 0.30 | 777.90 | 1511.56 | 3726.00 | 2053.88 | 59.38 | 33.70 |
| 10. | KERNEX | 1836.85 | 16.18 | 3086.57 | 0.00 | 109.85 | 1382.00 | 503.58 | 800.38 | 23.69 | 32.33 |
| 11. | MODINSULAT | 461.55 | 23.11 | 2175.93 | 0.00 | 29.60 | 94.43 | 188.30 | 33.19 | 10.53 | 16.89 |
| 12. | INA | 93.55 | 10.30 | 2062.33 | 0.00 | 380.25 | 796.94 | 7406.98 | 1766.82 | 34.98 | 9.74 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| 329 | 339 | 480 | 597 | 568 | 588 | 901 | 1,346 | |
| 279 | 286 | 401 | 508 | 465 | 479 | 729 | 1,127 | |
| Operating Profit | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — |
| Other Income | 2 | 0 | 7 | 0 | 2 | 0 | 3 | 2 |
| Interest | 6 | 8 | 9 | 9 | 12 | 12 | 10 | 11 |
| Depreciation | 4 | 5 | 6 | 7 | 8 | 9 | 21 | 25 |
| 42 | 40 | 72 | 90 | 85 | 89 | 144 | 78 | |
| Tax % | 24.54% | 25.64% | 28.61% | 24.85% | 25.67% | 24.68% | 26.22% | 25.58% |
| Net Profit | 32 | 30 | 51 | 68 | 63 | 67 | 106 | 58 |
| 1 | 1 | 2 | 24 | 2 | 2 | 4 | 0 | |
| Equity Capital | 25 | 28 | 28 | 28 | 28 | 31 | 31 | 31 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 25 | 28 | 28 | 28 | 28 | 31 | 31 | 31 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
- 329
- 279
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 6
- Depreciation
- 4
- 42
- Tax %
- 24.54%
- Net Profit
- 32
- 1
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 25
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 339
- 286
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 8
- Depreciation
- 5
- 40
- Tax %
- 25.64%
- Net Profit
- 30
- 1
- Equity Capital
- 28
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 28
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 480
- 401
- Operating Profit
- —
- OPM %
- —
- Other Income
- 7
- Interest
- 9
- Depreciation
- 6
- 72
- Tax %
- 28.61%
- Net Profit
- 51
- 2
- Equity Capital
- 28
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 28
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 597
- 508
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 9
- Depreciation
- 7
- 90
- Tax %
- 24.85%
- Net Profit
- 68
- 24
- Equity Capital
- 28
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 28
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 568
- 465
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 12
- Depreciation
- 8
- 85
- Tax %
- 25.67%
- Net Profit
- 63
- 2
- Equity Capital
- 28
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 28
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 588
- 479
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 12
- Depreciation
- 9
- 89
- Tax %
- 24.68%
- Net Profit
- 67
- 2
- Equity Capital
- 31
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 31
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 901
- 729
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 10
- Depreciation
- 21
- 144
- Tax %
- 26.22%
- Net Profit
- 106
- 4
- Equity Capital
- 31
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 31
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 1,346
- 1,127
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 11
- Depreciation
- 25
- 78
- Tax %
- 25.58%
- Net Profit
- 58
- 0
- Equity Capital
- 31
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 31
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| 507 | 664 | 925 | 1,541 | 3,403 | |
| 462 | 612 | 826 | 1,292 | 2,800 | |
| Operating Profit | 46 | 53 | 101 | 258 | — |
| OPM % | 9 | 8 | 11 | 17 | — |
| Other Income | 1 | 1 | 3 | 9 | 7 |
| Interest | 5 | 16 | 26 | 27 | 45 |
| Depreciation | 1 | 6 | 13 | 18 | 62 |
| 40 | 31 | 63 | 213 | 396 | |
| Tax % | 28 | 23 | 28 | 27 | 26 |
| Net Profit | 29 | 24 | 45 | 156 | 294 |
| EPS | 12 | 10 | 18 | 6 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 2 | 2 | 2 | 6 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 2 | 2 | 2 | 6 | — |
- 507
- 462
- Operating Profit
- 46
- OPM %
- 9
- Other Income
- 1
- Interest
- 5
- Depreciation
- 1
- 40
- Tax %
- 28
- Net Profit
- 29
- EPS
- 12
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- 664
- 612
- Operating Profit
- 53
- OPM %
- 8
- Other Income
- 1
- Interest
- 16
- Depreciation
- 6
- 31
- Tax %
- 23
- Net Profit
- 24
- EPS
- 10
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- 925
- 826
- Operating Profit
- 101
- OPM %
- 11
- Other Income
- 3
- Interest
- 26
- Depreciation
- 13
- 63
- Tax %
- 28
- Net Profit
- 45
- EPS
- 18
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- 1,541
- 1,292
- Operating Profit
- 258
- OPM %
- 17
- Other Income
- 9
- Interest
- 27
- Depreciation
- 18
- 213
- Tax %
- 27
- Net Profit
- 156
- EPS
- 6
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
- 3,403
- 2,800
- Operating Profit
- —
- OPM %
- —
- Other Income
- 7
- Interest
- 45
- Depreciation
- 62
- 396
- Tax %
- 26
- Net Profit
- 294
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 45%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 76%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 36%
- Last Year:
- 49%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| LIABILITIES | - | - | - | - |
| 14 | 14 | 25 | 28 | |
| 59 | 71 | 214 | 367 | |
| 127 | 144 | 115 | 228 | |
| Trade Payables | 46 | 71 | 115 | 120 |
| 155 | 215 | 142 | 270 | |
| Total Liabilities | 399 | 515 | 610 | 1,014 |
| ASSETS | - | - | - | - |
| 114 | 230 | 276 | 418 | |
| Capital Work in Progress | 0 | 8 | 0 | 0 |
| 178 | 187 | 232 | 383 | |
| 0 | 0 | 65 | 73 | |
| Cash & Bank | 20 | 14 | 15 | 21 |
| 87 | 76 | 22 | 119 | |
| Total Assets | 399 | 515 | 610 | 1,014 |
| Total Debt | 141 | 211 | 200 | 346 |
| Net Working Capital | 76 | 24 | 42 | 115 |
| Contingent Liabilities | 15 | 1 | 1 | 1 |
| Book Value per Share | 52.88 | 61.69 | 97.15 | 14.12 |
| Face Value | 10.00 | 10.00 | 10.00 | 1.00 |
| Total Debt | 141 | 211 | 200 | 346 |
| Net Working Capital | 76 | 24 | 42 | 115 |
| Contingent Liabilities | 15 | 1 | 1 | 1 |
| Book Value per Share | 52.88 | 61.69 | 97.15 | 14.12 |
| Face Value | 10.00 | 10.00 | 10.00 | 1.00 |
- 14
- 59
- 127
- Trade Payables
- 46
- 155
- Total Liabilities
- 399
- 114
- Capital Work in Progress
- 0
- 178
- 0
- Cash & Bank
- 20
- 87
- Total Assets
- 399
- Total Debt
- 141
- Net Working Capital
- 76
- Contingent Liabilities
- 15
- Book Value per Share
- 52.88
- Face Value
- 10.00
- Total Debt
- 141
- Net Working Capital
- 76
- Contingent Liabilities
- 15
- Book Value per Share
- 52.88
- Face Value
- 10.00
- 14
- 71
- 144
- Trade Payables
- 71
- 215
- Total Liabilities
- 515
- 230
- Capital Work in Progress
- 8
- 187
- 0
- Cash & Bank
- 14
- 76
- Total Assets
- 515
- Total Debt
- 211
- Net Working Capital
- 24
- Contingent Liabilities
- 1
- Book Value per Share
- 61.69
- Face Value
- 10.00
- Total Debt
- 211
- Net Working Capital
- 24
- Contingent Liabilities
- 1
- Book Value per Share
- 61.69
- Face Value
- 10.00
- 25
- 214
- 115
- Trade Payables
- 115
- 142
- Total Liabilities
- 610
- 276
- Capital Work in Progress
- 0
- 232
- 65
- Cash & Bank
- 15
- 22
- Total Assets
- 610
- Total Debt
- 200
- Net Working Capital
- 42
- Contingent Liabilities
- 1
- Book Value per Share
- 97.15
- Face Value
- 10.00
- Total Debt
- 200
- Net Working Capital
- 42
- Contingent Liabilities
- 1
- Book Value per Share
- 97.15
- Face Value
- 10.00
- 28
- 367
- 228
- Trade Payables
- 120
- 270
- Total Liabilities
- 1,014
- 418
- Capital Work in Progress
- 0
- 383
- 73
- Cash & Bank
- 21
- 119
- Total Assets
- 1,014
- Total Debt
- 346
- Net Working Capital
- 115
- Contingent Liabilities
- 1
- Book Value per Share
- 14.12
- Face Value
- 1.00
- Total Debt
- 346
- Net Working Capital
- 115
- Contingent Liabilities
- 1
- Book Value per Share
- 14.12
- Face Value
- 1.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| -58 | 78 | 85 | 18 | |
| Cash from Investing | -46 | -132 | -45 | -118 |
| Cash from Financing | 104 | 55 | -37 | 104 |
| -0 | 0 | 4 | 4 | |
| Free Cash Flow | -58 | -51 | 35 | -142 |
| OCF / Net Profit | -2.05 | 3.20 | 1.89 | 0.12 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 |
| OCF / Net Profit | -2.05 | 3.20 | 1.89 | 0.12 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 |
- -58
- Cash from Investing
- -46
- Cash from Financing
- 104
- -0
- Free Cash Flow
- -58
- OCF / Net Profit
- -2.05
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -2.05
- Cumulative 5-Year FCF
- 0
- 78
- Cash from Investing
- -132
- Cash from Financing
- 55
- 0
- Free Cash Flow
- -51
- OCF / Net Profit
- 3.20
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 3.20
- Cumulative 5-Year FCF
- 0
- 85
- Cash from Investing
- -45
- Cash from Financing
- -37
- 4
- Free Cash Flow
- 35
- OCF / Net Profit
- 1.89
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.89
- Cumulative 5-Year FCF
- 0
- 18
- Cash from Investing
- -118
- Cash from Financing
- 104
- 4
- Free Cash Flow
- -142
- OCF / Net Profit
- 0.12
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.12
- Cumulative 5-Year FCF
- 0
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| PER SHARE | - | - | - | - |
| EPS (₹) | 20.91 | 17.85 | 18.46 | 5.58 |
| Book Value (₹) | 52.88 | 61.69 | 97.15 | 14.12 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 1.92 | 1.95 | 2.08 | 6.22 |
| PROFITABILITY | - | - | - | - |
| Operating Margin % | 9.11% | 8.01% | 10.69% | 16.15% |
| Net Margin % | 5.63% | 3.67% | 4.90% | 10.15% |
| ROE % | 39.55% | 31.16% | 28.09% | 49.33% |
| ROCE % | 13.90% | 13.01% | 20.99% | 40.63% |
| 7.15% | 5.33% | 8.06% | 19.26% | |
| EFFICIENCY | - | - | - | - |
| Debtor Days | 28 | 19 | 18 | 16 |
| Inventory Days | 128 | 100 | 83 | 73 |
| Payable Days | 45 | 43 | 50 | 39 |
| 112 | 76 | 52 | 50 | |
| FINANCIAL HEALTH | - | - | - | - |
| Debt to Equity (x) | 0.78x | 1.09x | 0.84x | 0.88x |
| Interest Coverage (x) | 8.52x | 2.99x | 3.41x | 8.85x |
| 1.38x | 1.10x | 1.15x | 1.25x | |
| GROWTH | - | - | - | - |
| Revenue Growth % | 0.00% | 31.02% | 39.24% | 66.62% |
| Operating Profit Growth % | 0.00% | 15.22% | 90.54% | 154.73% |
| Net Profit Growth % | 0.00% | -14.63% | 85.93% | 245.09% |
| 0.00% | 0.00% | 3.42% | -69.77% | |
| VALUATION | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 2.07x | 1.37x |
- EPS (₹)
- 20.91
- Book Value (₹)
- 52.88
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.92
- Operating Margin %
- 9.11%
- Net Margin %
- 5.63%
- ROE %
- 39.55%
- ROCE %
- 13.90%
- 7.15%
- Debtor Days
- 28
- Inventory Days
- 128
- Payable Days
- 45
- 112
- Debt to Equity (x)
- 0.78x
- Interest Coverage (x)
- 8.52x
- 1.38x
- Revenue Growth %
- 0.00%
- Operating Profit Growth %
- 0.00%
- Net Profit Growth %
- 0.00%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 17.85
- Book Value (₹)
- 61.69
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.95
- Operating Margin %
- 8.01%
- Net Margin %
- 3.67%
- ROE %
- 31.16%
- ROCE %
- 13.01%
- 5.33%
- Debtor Days
- 19
- Inventory Days
- 100
- Payable Days
- 43
- 76
- Debt to Equity (x)
- 1.09x
- Interest Coverage (x)
- 2.99x
- 1.10x
- Revenue Growth %
- 31.02%
- Operating Profit Growth %
- 15.22%
- Net Profit Growth %
- -14.63%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 18.46
- Book Value (₹)
- 97.15
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 2.08
- Operating Margin %
- 10.69%
- Net Margin %
- 4.90%
- ROE %
- 28.09%
- ROCE %
- 20.99%
- 8.06%
- Debtor Days
- 18
- Inventory Days
- 83
- Payable Days
- 50
- 52
- Debt to Equity (x)
- 0.84x
- Interest Coverage (x)
- 3.41x
- 1.15x
- Revenue Growth %
- 39.24%
- Operating Profit Growth %
- 90.54%
- Net Profit Growth %
- 85.93%
- 3.42%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 2.07x
- EPS (₹)
- 5.58
- Book Value (₹)
- 14.12
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 6.22
- Operating Margin %
- 16.15%
- Net Margin %
- 10.15%
- ROE %
- 49.33%
- ROCE %
- 40.63%
- 19.26%
- Debtor Days
- 16
- Inventory Days
- 73
- Payable Days
- 39
- 50
- Debt to Equity (x)
- 0.88x
- Interest Coverage (x)
- 8.85x
- 1.25x
- Revenue Growth %
- 66.62%
- Operating Profit Growth %
- 154.73%
- Net Profit Growth %
- 245.09%
- -69.77%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 1.37x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-21 - Fujiyama Power Systems Limited has informed the Exchange about Transcript
- Credit Rating- Revision
2026-08-18 - Fujiyama Power Systems Limited has informed the Exchange about Credit Rating- Revision
Annual Reports
Nothing filed yet.
Credit Ratings
- Credit Rating- Revision
2026-08-18 - Fujiyama Power Systems Limited has informed the Exchange about Credit Rating- Revision
Concalls
Aug 2026
May 2026
Feb 2026

