Press Release

GUTL SOLAR November 06, 2026 The Manager The Manager Listing Department Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G Phiroze Jeeyeebhoy Towers Bandra Kurla Complex Dalal Street, Fort Bandra (E), Mumbai 400 051 Mumbai 400 001 Maharashtra, India Maharashtra, India Scrip Symbol : UTLSOLAR Scrip Code: 544613 Subject: Press Release for the unaudited standalone & consolidated financial results for the period ended September 30, 2026 Dear Madam/ Sir, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 enclosed herewith is the Press Release on unaudited standalone & consolidated financial results for the period ended September 30, 2026. The above is also being made available on the website of the Company at https://www.utlsolarfujryama.com/ Kindly take the same on record. Thanking you, Yours Sincerely, For Fujiyama Power Systems Limited (Formerly Fujiyama Power Systems Private Limited) Digitally signed MAYURI by MAYUR GUPTA_ date:2026.11.06 09:16:53 +05'30' Mayuri Gupta Company Secretary and Compliance Officer M. No.: A75210 PFUUTY AMA POWER SYSTEMS LIMITER (Formerly Fujiyama Power Systems Private Limited) $3.A/6, Near NDPL Grid Office, Near Metro Station, Industrial Area, Sat Guru Ram Singh Marg, Delhi - 110015, [India CIN - L31909DL2017PLC326513, GST No -OTAADCEH2634F14V www.utlsolarfujiyama.com Ph: +91 9968309514, 9968309517, E-mail: investor(@utlsolarfujiyama.com Q2 and H1 FY2027 Press Release li SUTL SOLAR FUA/YAMA SOLAR Q2 FY27 Revenue from Operations at Rs. 13,068 Mn; up 130.1% YoY Q2 FY27 EBITDA at Rs. 2,229 Mn; up 116.4% YoY with a margin of 17.1% Added 100+ Dealers and 30+ Distributors in Q2 FY27 Total Channel Partners as of 30** September 2026 10,200+ New Delhi, 6° November 2026: Fujiyama Power Systems Limited (“Fujiyama” or the “Company”) (BSE: 544613 | NSE: UTLSOLAR), one of India’s leading providers of rooftop solar solutions, offering an extensive portfolio across solar panels, inverters, lithium-ion batteries, chargers and power electronics systems, has announced its unaudited standalone and consolidated financial results for the quarter and half year ended 30* September 2026. Q2 and H1 FY27 Financial Performance: Rs. Mn Q2FY27 Q2FY26 Y-0-Y Q1 FY27 Q-o-Q H1FY27 H1FY26 oA Revenue from Operations 13,068 5,679 130.1% 13,457 (2.9%) 26,525 11,653 127.6% EBITDA 2,229 1,030} 116.4% 2,548 | (12.5%) 4,777 2,089 128.7% Margin% 17.1% 18.1% 18.9% 18.0% 17.9% Reported PAT 1,329 629 111.2% 578 129.9% 1,907 1,305 46.1% Bawal Fire Loss Provision 1,074 1,074 - (Net of Tax) Normalised PAT 1,329 - 1,652'| (19.6%) 2,981 1,305] 128.4% Margin% 10.2% 11.1% 12.3% 11.2% 11.2% 1. Normalised PAT of Rs. 1,652 Mn in Q1 FY27 and Rs. 2,981 Mn in H1 FY27 excludes the exceptional item (net of tax) of Rs. 1,074 Mn [Rs. 1,436 Mn x (1 - 0.2517)] relating to the provision for the Bawal fire loss Key Business Highlights: * Commissioned 2 GW Power Electronics manufacturing capacity at Ratlam in Q2 FY27 * The 3 GWh Lithium-ion battery manufacturing capacity at Ratlam is expected to be commissioned in the coming quarters ¢ Setting up a 1.2 GW solar cell manufacturing facility at Ratlam with an investment of around Rs. 350 crore, expected to be commissioned by Q1FY28 ¢ Setting up a 1 GWh tubular battery manufacturing facility at Hathras, Uttar Pradesh with an investment of around Rs. 20 crore, expected to be commissioned by Q3FY27 Q2 and H1 FY2027 Press Release CUTL SOLAR SOLAR Commenting on the performance Mr. Pawan Kumar Garg, Chairman and Joint Managing Director, said: “The second quarter of FY27 marked further progress in Fujiyama’s manufacturing expansion and backward integration initiatives. The Company made progress in building an integrated manufacturing platform across solar panels, power electronics and batteries. The demand environment for residential rooftop solar and power backup solutions remains favourable, supported by government initiatives, increasing consumer awareness and wider adoption across Tier 2 and Tier 3 markets. During Q2 FY27, the Company reported Revenue from Operations of Rs. 13,068 million, registering a YoY growth of 130.1%. EBITDA increased by 116.4% YoY to Rs. 2,229 million, while PAT grew by 111.2% YoY to Rs. 1,329 million. EBITDA margin was 17.1%, compared to 18.1% in Q2 FY26, while PAT margin was 10.2%, compared to 11.1% in Q2 FY26. The moderation in margins was primarily due to lower sales realisations adopted by the Company to drive higher sales volumes and gain market share. For H1 FY27, Revenue from Operations reached Rs. 26,525 million, registering a growth of 127.6% YoY. EBITDA increased by 128.7% to Rs. 4,777 million, with a margin of 18.0%. Normalised PAT was Rs. 2,981 million, with a margin of 11.2%. Our distribution network remains an important part of our business model, enabling us to reach customers across a wide range of markets. On the manufacturing front, we commissioned our 2 GW power electronics manufacturing facility at Ratlam during the quarter. The facility manufactures solar inverters, UPS systems and other related power electronics products. With this addition, our total power electronics manufacturing capacity has increased to 4.1 GW. We are also progressing with the development of our lithium-ion battery manufacturing facility at Ratlam, with 3 GWh of manufacturing capacity expected to come online in the coming quarters. The addition will strengthen our in house manufacturing capabilities and support the growing requirement for energy storage solutions. It will also improve integration across our solar and power backup product portfolio. In addition to lithium-ion batteries, we are rebuilding our in house tubular battery manufacturing capabilities through a proposed 1 GWh facility at Hathras, Uttar Pradesh. The facility is being established as a replacement for the earlier 1.3 GWh capacity at Bawal, Haryana, which was damaged in a fire incident in May 2026. The facility is expected to be commissioned by Q3 FY2027. It will provide a dedicated manufacturing base for tubular batteries, strengthen our manufacturing presence in North India and support supplies to our established distribution network. Alongside these initiatives, the 1.2 GW solar cell manufacturing facility at Ratlam remains on track for commissioning by Q1 FY2028. The facility will complement our existing 1 GW solar cell manufacturing capacity and support our participation in the Domestic Content Requirement (DCR) segment. Looking ahead, we see opportunities across residential rooftop solar and energy storage. The PM Surya Ghar initiative and its proposed expansion under PM Surya Ghar 2.0 could support wider adoption of rooftop solar and integrated storage solutions. As we move forward, our focus will remain on ramping up manufacturing capacities, expanding our distribution reach and strengthening backward integration. We remain committed to providing dependable, high quality solar and energy solutions while creating long term value for all stakeholders.” For further information, please contact: FUSIY AMA Churchgate SOLA Investor Relations Mayuri Gupta (Company Secretary) Simran Malhotra / Tahir Khinchi +91 011 41055305 + 91 73032 11037 investor @utlsolarfujiyama.com Fujivama@churchgatepartners.com Q2 and H1 FY2027 Press Release CUTL SOLAR SOLAR Q2 and H1 FY27 Earnings Conference Call Conference Call Details: Tuesday, November 10, 2026, at 12:00 PM IST Diamond Pass Click Here Universal Access Number +91 22 6280 1149 / +91 22 7115 8050 The number listed above is universally accessible from all networks and all countries. HK: 800 964 448 | SG: 800 101 2045 | Toll Free Number UK: 0 808 101 1573 | USA: 1 866 746 2133 About Fujiyama Power Systems: Fujiyama Power Systems Limited is one of India’s leading providers of rooftop solar solutions, offering an extensive portfolio across solar panels, inverters, lithium and tubular batteries, chargers and power [Showing first 8,000 characters — download PDF for full document]