What we do Fujiyama Power Systems Ltd manufactures solar panels, batteries, inverters, chargers, and lithium-ion batteries, operating a strong manufacturing and distribution network across India. |
Founded in 2,017 |
Market share Leading Indian player with over 900 MW solar battery and 2,000 MW solar inverter installations, rapidly expanding market share in rooftop solar industry. |
Problem solved Provides reliable, affordable solar energy solutions addressing energy access, reducing dependence on fossil fuels, and enabling clean power generation. |
Top clients or who we serve Serves Indian households, businesses, and developers primarily B2C and B2B, focusing on Tier 2 and Tier 3 cities with tailored solar systems. |
Key management Chairman & Joint MD: Pawan Kumar Garg (28+ years), CEO & Joint MD: Yogesh Dua (28+ years), plus IIT Delhi and IIT KGP affiliated directors. |
Our journey and innovations Founded in 2017, became public in 2025; pioneered Indian online solar PCUs, expanded advanced manufacturing including 1 GW solar cell plant. |
Where we operate Primarily India with pan-India manufacturing and distribution; growing overseas sales with 2.5% revenue from outside India. |
Top products or what we offer Solar panels, inverters, lithium-ion and tubular batteries, solar PCUs, hybrid systems, off-grid and on-grid solar power solutions. |
Top brands UTL Solar, Fujiyama Solar; notable for rMPPT tech, patented inverter innovations, and broad product portfolio with 500+ SKUs. |
Raw materials needed Solar cells, lithium cells, electronic components, metals for cabinets, and battery raw materials like lead and acid. |
Raw materials supplier Combination of in-house manufacturing and imports mainly from China and other countries; expanding domestic solar cell production. |
Recurring vs cyclical contribution Revenue is largely recurring through sales of products and after-sales services with some cyclicality linked to solar project cycles. |
Our industry position Strong leader in Indian rooftop solar with integrated manufacturing and extensive distribution; benefiting from government policies favoring domestic production. |
Financial highlights FY25 revenue of Rs. 1,550+ crore, profit after tax of Rs. 105 crore; 65%+ revenue growth with improving profit margins. |
Geographical revenue split Approximately 98% revenue from India, 2% international markets as of FY25. |
Order book - |
Whats driving growth Government solar incentives, expanding solar capacity, innovation in product range, extensive distribution network driving strong demand growth. |
Our future plans Commissioning 2 GW expansion in solar panels, batteries, cells; scaling distribution and R&D; capitalizing on rising rooftop solar markets. |
Our green promise Commitment to renewable energy solutions contributing to India’s clean energy goals, supporting sustainable manufacturing, and reducing carbon footprints. |
Our people and values 29 years' legacy, 60+ R&D engineers, broad employee base, customer centricity, innovation focus, and strong post-sales support culture. |
Key challenges ahead Supply chain dependencies on imports, evolving regulatory landscape, competitive pressures, and maintaining rapid capacity expansions. |
Interesting facts First Indian company launching SMT inverter with single card technology; integrated 1 GW solar cell manufacturing in record time. |
Risks and strategy Mitigates import risks through backward integration, invests in domestic capacity and technology, leverages government policies for growth. |
