Fujiyama Power Systems Limited · NSE:UTLSOLAR
Fujiyama Power Systems — Q3 FY2026 Earnings Presentation
24 slides from Fujiyama Power Systems's earnings presentation, Jan 31, 2026
Slide 1: Analysts / Investors Presentation cover letter
SUTLSOLAR January 31, 2026 The Manager The Manager Listing Department Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Fort Bandra (E), Mumbai 400 051 Mumbai 400 001 Maharashtra, India Ma
Slide 2: Q3 and 9M FY26 Earnings Presentation
Q3 and 9M FY26 (NSE: UTLSOLAR; BSE: 544613) Earnings Presentation
Slide 3: Fujiyama Power Systems: Solarizing India
Fujiyama Power Systems: Solarizing India GUTL SOLAR FUJI YAMA SOLAR Design and Engineering > Distribution > I I . I | Greater Noida I —— I | 60 + . If Uttar Pradesh I © , SUTL , I 850 + I re! I | R&D Engineers I I I I | I L I I 1 | Dadri I Solar PCU <a 1 TSS ee AMOI eta 1 500 + SKUs I I Uttar Prades
Slide 4: Commissioning of 1 GW Solar Cell Manufacturing Plant
Commissioning of 1 GW Solar Cell Manufacturing Plant @UTL SOLAR FUS/Y AMA SOLAR 1 GW Commissioning of Dadri Cell Plant 1 GW Mono-PERC DCR solar cell line successfully commissioned on 21% January 2026 Funding Approach Project was funded through combination of internal accruals and debts Record Time E
Slide 5: Fujiyama Power Systems: Business Model Dynamics
Fujiyama Power Systems: Business Model Dynamics GUTL SOLAR FUSVYAMA SOLAR Integrated Business Model with B2C Focus Raw Material Sourcing 9.0% Raw Material Revenue M@ B2C FY2025 FY2025 wm B2B 91.0% @ Procured in India Import from China @ Procured International Import from Other Countries = Energy sol
Slide 6: Management Commentary
Management Commentary GUTL SOLAR Commenting on the performance Mr. Pawan Kumar Garg, Chairman and Joint Managing Director, said: FUSIYAMA SOLAR “Following the successful listing and the steady progress made over the last quarter, Fujiyama continues to move ahead on its planned growth trajectory supp
Slide 7: Q3 FY2026 Performance Highlights
Q3 FY2026 Performance Highlights GUTLSOLAR ee Rs. Million FUSY, ANA Revenue from Operations EBITDA and Margin (%) I I poonn- 73.8% |---->- 1 1 ©] 65.4% Joa ponnn 110.1% ------ 1 1 | 88.1% |-4 I | | 1 | I I 17,537 I 3,188 I I I I 1 10,603 I ' ; 1,695 5,679 5,885 | 1,030 1,099 |! 3,386 ; 523 i I 15.5%
Slide 8: World Class Engineering Platform
World Class Engineering Platform GUTLSOLAR FUS!YAMA Manufacturing facilities in close proximity to attractive end customer markets SOLAR Total Product Capacity Solar Cell Solar Panels Seem ee leihay 1 Capacity: 1,000 MW Capacity: 1,639 MW 1 +2,000 MW i . | Tubular Batteries Solar Panels | Lithium-lo
Slide 9: Advanced Manufacturing Equipment
Advanced Manufacturing Equipment GUTL SOLAR FUJI YAMA SOLAR rm S© a) .) ° ° c © FS i= Sealant & glue auto filling machine - iw) Solar Inverter fae = me) © a i} RS] ° Fa td iD) _ © bd) t= ©) Grid casting set-up for lead acid Laser marking machine — Solar inverter Li-ion Cell sorting batteries and E-c
Slide 10: Manufacturing Product Matrix
Manufacturing Product Matrix @UTLSOLAR FUS/Y AMA SOLA? HE 1,000 Mw |! 1 (SESE SolarCel 1000 MW | 1,639 MW | | 3,639 MW | == oo oe faco nm,a !| Solar Panels Solar Panels Solar Panels Solar Panels 2,000 MW Li-lon Batteries 2,000 MWh (1,743 MW } Bo Power Electronics caw Power Electronics 2,000 MW oUR B
Slide 11: Key Investment Highlights
Fujiyama Power Systems - Key Investment Highlights GUTL SOLAR FUJI YAMA SOLFiR Well-rounded Leader in Rooftop Solar Industry and a ‘One-stop Shop’ for Solar Products and Solutions Z Solar Panel it Brand Recall and Reputation in the Solar Rooftop Industry 22+ Lakh units (900+ MW) Proven Track Record
Slide 12: Consumer 'One-stop Shop' For SPGS
Consumer ‘One-stop Shop’ For SPGS GUTL SOLAR FUSIYAMA SOLAR Solar Power Generation Systems (SPGS) Solar Panels Batteries (Lithium & Tubular) High Frequency Based Inve SOLAR PANEL UTL Li lon Batteries Tubular Battery High Frequency Based Inverter PWM Solar sMuU MONO-PERC | TOPCON For Home, E-Rickshaw
Slide 13: Solar Power Industry Dynamics
Solar Power Industry Dynamics @UTL SOLAR FUS(YAMA SOLAR India’s power sector is projected to grow at a 9% CAGR from FY24-32 India’s solar is expected to dominate the energy mix by FY32 Installed Capacity — (GW) #900 Installed Capacity Split — FY25 Installed Capacity Split — FY32P sor an” . 40%, aa 2
Slide 14: Rooftop Solar Industry Dynamics
Rooftop Solar Industry Dynamics GUTL SOLAR FUSIYAMA SOLAR India’s Rooftop solar market to reach 100 GW by FY30 Composition of India’s Rooftop Solar Market (FY25) Rooftop Solar Market Size —-(GW) By Type 10% = = On Grid ie 19% - a = Off Grid ° CAGR- 45% 17.0 . 11.9 = 1.8 2.5 4.4 6.6 - ~ Hybrid ; — 71
Slide 15: Power Inverter Industry Dynamics
Power Inverter Industry Dynamics GUTL SOLAR FUAIY AMA SOLAR pe nn nn nn nn nn nn nn nn nn nn nn nn nn nn nn nn nn nnn en en nn on nnn nn eee nn ee ee, \ c | The solar inverter and BMS markets in India continue to be import-dependent, | Fujiyama’s Positioning | with a significant portion of supplies
Slide 16: Strong Brand Recall and Reputation in the Solar Rooftop Industry
Strong Brand Recall and Reputation in the Solar Rooftop Industry @UTL SOLAR FUSIYAMA SOLAR Won Various awards, accreditations and recognitions Brand Ambassador for Fujiyama Solar eon nn een ne ee ee ee ee, a ae Renewable Energy Excellence Award - Solar Most Trusted brand of India — a Battery Manufac
Slide 17: Proven Track Record of Being an Early Adopter of Innovative Technology
Proven Track Record of Being an Early Adopter of Innovative Technology GUTL SOLAR FUSIYAMA SOLAR Oe i : — , : | 2014 : | 2024 | Co To || Je (Combo° aof U Ps : Launched Online | Granted Patent for | : Launc he SMTian Inverter | | Solar PCU | _ FMPPT Technology With Single Card and Inverters) J 2002 |
Slide 18: From Engagement to Conversion: Driving Sales through Marketing & AI
From Engagement to Conversion: Driving Sales through Marketing & Al GUTL SOLAR FUSIYAMA SOLAR Smart Reference System - ‘UTL Credits’ End-to-End Lead Management On-Route Dealer Visits SERVICE COMPLAINT We gather Leads from multiple Channels Al-powered WhatsApp Telemarketing team messages nurture and
Slide 19: On Going Expansion of Pan India Distribution Network
On Going Expansion of Pan India Distribution Network @GUTL SOLAR FUSIYAMA SOLAR Strategic Growth Strategy Across States State Summary FY22 Market Position > FY25 Market Position Status FY22 FY25 prmcccccscscccccc Sey Growing 12 7 j Engage more distributors and establish I exclusive retail outlets pa
Slide 20: Board of Directors and Leadership Team
Board of Directors and Leadership Team GUTL SOLAR FUS(YAMA SOLAR Promoters and Directors Pawan Kumar Garg Yogesh Dua Sunil Kumar Chairman and Joint Managing Chief Executive Officer and Non-Executive Director Director Joint Managing Director Exp. in Developing Software Solutions: 23+ years Exp. in In
Slide 21: CSR Initiatives
CSR Initiatives LSOLAR FUS/YAMA SOLAR Trainee Skill development under NAPS CSR expenditure for the period was supported apprenticeship training under National Apprenticeship Promotion Scheme (NAPS), supporting practical skill-building for young trainees under the Apprentices Act, 1961. This reflects
Slide 22: Annual Financial Performance
Annual Financial Performance @UTL SOLAR ee FUS(YAMA SOLAR INR Mn Revenue from Operations EBITDA and Margin (%) I I I I 1 17,537 7 I poh 1° I 3,188 I 2,485 I I I 6,641 i I i 986 I i 516 7.8% 10.7% 16.1% i I FY23 FY24 FY25 OMFY26 FY23 FY24 FY25 OMFY26 PAT and Margins (%) I I 1,978 453% 1,563 ' cack I
Slide 23: Q3 and 9M FY2026 Financial Performance Summary
Q3 and 9M FY2026 Financial Performance Summary GUTL SOLAR FUSIYAMA SOLAR ei FY2026 FY2025 Growth(%) FY2026 Growth(%) FY2026 FY2025 Growth(%) Revenue from Operations 5,885 3,386 73.8% 5,679 3.6% 17,537 10,603 65.4% Other Income 4 2 19 27 21 Total Income 5,889 3,388 5,698 17,564 10,624 Cost of materia
Slide 24: Thank You
@UTL SOLAR FUSYAMA SOLAR Thank You This presentation, provided by Fujiyama Power Systems Ltd., is intended for informational purposes only and is not an offer, invitation, or inducement to sell or issue securities. It is not intended to be a prospectus under any jurisdiction's laws. The information
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