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UTLSOLAR IPO

Fujiyama Power Systems Limited

IPO Doc

Start Date13-11-2025

Application Timing10am-5pm

Price Range₹216 - ₹228

Min Qty65

Min. Investment₹14040

Listing Date20-11-2025

Close Date17-11-2025

About Fujiyama Power Systems Limited

Founded in 2017, Fujiyama Power Systems Ltd is a leading manufacturer and solutions provider in the rooftop solar energy industry, specializing in on-grid, off-grid, and hybrid solar systems. The company offers over 522 SKUs that include solar inverters, panels, batteries, and energy storage products designed to reduce dependency on third-party OEMs.

Fujiyama has built a strong nationwide presence with over 725 distributors, 5,546 dealers, and 1,100 exclusive “Shoppe” franchisees trained to deliver tailored solar solutions. Its dedicated team of 602+ service engineers ensures reliable after-sales support and maintenance.

The company operates four advanced manufacturing facilities located in Greater Noida (UP), Parwanoo (HP), Bawal (Haryana), and Dadri (UP). Fujiyama’s systems are ISO-certified across Quality (9001:2015), Environment (14001:2015), and Occupational Safety (45001:2018) standards.

In addition to catering to the domestic market, the company also exports its products to the USA, Bangladesh, UAE, and other Asian countries, strengthening its position as a trusted global solar brand.

Why To Invest in Fujiyama Power Systems Limited

Strong Growth Track Record: The company’s revenue grew by 67%, and profit after tax surged by 245% between FY24 and FY25, showing consistent financial growth.

Expanding Renewable Energy Market: With India’s push for solar adoption and clean energy, Fujiyama is positioned to benefit from massive government and private sector demand.

Diversified Product Portfolio: Offering a wide range of solar inverters, lithium-ion batteries, UPS systems, and solar panels gives it a competitive edge.

Robust Distribution Network: A nationwide dealer and franchisee ecosystem drives consistent sales and brand recognition.

Technological Innovation: Continuous investment in R&D and product efficiency improvements ensure long-term competitiveness.

Experienced Leadership: The company is led by promoters with strong industry expertise — Pawan Kumar Garg, Yogesh Dua, and Sunil Kumar.

Financial Table

Period Ended	30 Jun 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	1,243.88	1,013.96	609.64	514.56
Total Income	597.79	1,550.09	927.20	665.33
Profit After Tax	67.59	156.34	45.30	24.37
EBITDA	105.89	248.52	98.64	51.60
NET Worth	464.34	396.82	239.54	193.08
Reserves and Surplus	436.33	368.81	215.00	70.55
Total Borrowing	432.83	346.22	200.19	211.14

Strengths And Risks

Advanced Manufacturing Infrastructure: Fujiyama operates large-scale, precision-driven manufacturing units equipped with modern technology that ensures consistent product quality and high production efficiency.

Strong Market Presence: The company holds a solid presence across both domestic and export markets, supported by an extensive distribution network and growing international footprint.

Continuous Product Innovation: With over 522 diverse SKUs, Fujiyama consistently focuses on technological upgrades and innovation to meet evolving energy demands and maintain a competitive edge.

Certified and Efficient Operations: The company’s manufacturing systems are ISO-certified, ensuring compliance with international quality, environmental, and safety standards while maintaining operational excellence.

Robust Financial Performance: Steady revenue growth and increasing profitability highlight Fujiyama’s scalable business model and strong financial foundation, enhancing investor confidence.

High Industry Competition: The solar energy market is rapidly evolving and highly competitive, with constant technological advancements posing challenges to market leadership.

Dependence on Raw Material Prices: Fluctuations in the prices of key raw materials can directly impact production costs and profit margins.

Regulatory and Policy Risks: Changes in government policies, import duties, or renewable energy incentives could influence the company’s operational performance and project feasibility.

Market and Distribution Dependence: A significant portion of Fujiyama’s business relies on domestic market demand and distributor efficiency, which may expose it to short-term sales risks.

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Astha Credit & Securities Pvt Ltd NSE, BSE & MCX SEBI Reg No:

INZ000187932

Membership ID:

NSE - 12227 BSE-6844 MCX - 40000 NSDL-IN303420 CDSL-94500

CIN:

U65929MP2003PTC016241

SEBI Depository Participant Reg No:

IN-DP-611-2021

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We do proprietary trading

Client Bank Account Details:

Sr. No	Name of Bank Account	Bank Account Number	IFSC Code
1	ASTHA CREDIT AND SECURITIES P LTD - USCNBA A/c	00620340000150	HDFC0000062

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UTLSOLAR IPO

About Fujiyama Power Systems Limited

Why To Invest in Fujiyama Power Systems Limited