Kotak starts India's Emmvee Photovoltaic Power with 'buy' on valuation, outlook

Emmvee Photovoltaic Power

30/03/2026 05:31

** Brokerage Kotak Institutional Equities starts coverage on Emmvee Photovoltaic Power EMMV.NS with "add" rating, sets PT at 250 rupees driven by attractive valuations

** Shares of EMMV down 2% at 218 rupees on Monday as the broader market falls; Nifty 50 .NSEI down 0.79%

** Kotak expects co to log 44% PAT CAGR over FY 2025-30E driven by capacity expansion, higher backward integration and improved capacity utilisation

** Adds, scaling up cell capacity, wafer expansion to drive long-term profitability

** However, heightened competitive intensity will likely impact margins and return ratios from FY2028- Kotak

** YTD, EMMV up 14%

(Reporting by Komal Salecha in Bengaluru)

((Komal@thomsonreuters.com))