Electronics - Components · Founded 2017 · www.utlsolarfujiyama.com · BSE 544613 · NSE UTLSOLAR · ISIN INE12UR01024
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Business
Fujiyama Power Systems Ltd. operates in the Electronics - Components sector within India. Based on its name, the company likely specializes in the design, manufacturing, and sale of electronic components, particularly those related to power management and power systems. Its core business model would involve supplying these components (e.g., power modules, converters, rectifiers, control units) to other manufacturers in various industries such as consumer electronics, industrial automation, automotive, telecommunications, and potentially renewable energy given its ticker. The company generates revenue through direct sales of its manufactured components to B2B clients.
Revenue Mix
Specific details regarding key business segments or their respective revenue contributions are not provided. The company operates broadly within the Electronics - Components industry, suggesting a focus on specialized power-related electronic parts.
Industry
The Electronics - Components industry in India is dynamic, characterized by increasing demand driven by digitization, manufacturing growth, and "Make in India" initiatives. It is a highly competitive sector with both domestic and international players, often requiring significant R&D investment and efficient manufacturing processes. As an Indian player, Fujiyama Power Systems Ltd. likely positions itself by leveraging local market understanding, cost efficiencies, and potentially specialized product offerings in power electronics. Its positioning against larger, global conglomerates would depend on its technological niche, customer relationships, and scale of operations.
MOAT
Without specific details, potential competitive advantages for Fujiyama Power Systems Ltd. could include:
Proprietary Technology/Expertise: Specialized R&D in power electronics leading to unique or highly efficient component designs.
Customer Switching Costs: If its components are deeply integrated into customer product designs, requiring significant effort or cost to switch suppliers.
Cost Leadership: Achieving manufacturing efficiencies or superior supply chain management to offer competitive pricing.
Niche Market Focus: Dominating specific segments of power components where larger players may not focus.
Growth Drivers
"Make in India" Initiative: Government push for domestic manufacturing across various sectors, increasing demand for locally sourced electronic components.
Electrification & Digitization: Growing penetration of electronics in automotive, industrial, consumer, and infrastructure sectors.
Renewable Energy Sector Growth: India's aggressive targets for solar and other renewable energy sources (indicated by "SOLAR" in ticker) would drive demand for power electronics components like inverters, converters, and grid interface systems.
5G & Data Center Expansion: Development of new telecom infrastructure and data centers requiring advanced power management solutions.
Export Opportunities: Potential to expand sales to international markets leveraging cost competitiveness or specialized offerings.
Risks
Technological Obsolescence: Rapid advancements in electronics can quickly render existing products less competitive.
Intense Competition: Facing pressure from large global players with greater R&D budgets and economies of scale.
Supply Chain Volatility: Dependence on global supply chains for raw materials and sub-components, susceptible to disruptions, geopolitical issues, and price fluctuations.
Cyclical Demand: Demand for components can be highly sensitive to economic cycles and capital expenditure plans of customer industries.
Pricing Pressure: Commoditization of certain components can lead to margin erosion.
Currency Fluctuations: Exposure to foreign exchange risks for imported raw materials or export revenues.
Management & Ownership
Specific details regarding the promoters, management team's quality, or detailed ownership structure are not provided. For a company in this sector, experienced management with a strong background in electronics manufacturing, R&D, and supply chain management is crucial. Promoter holding and institutional ownership would indicate stability and investor confidence.
Outlook
Fujiyama Power Systems Ltd. operates in a promising sector driven by India's industrial growth and digital transformation, with particular tailwinds from the renewable energy segment. The ability to innovate, maintain cost competitiveness, and manage supply chain complexities will be critical. The company's future growth hinges on its capacity to leverage domestic demand, potentially expanding its product portfolio, and effectively competing against established global players. Key challenges will include mitigating risks associated with rapid technological change, intense pricing pressure, and global supply chain disruptions.
Price goes above X
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| #(Fig in Cr.) | Sep 2024 | Dec 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Net Sales | 329 | 339 | 480 | 568 | 588 | 901 |
| Other Income | 2 | 0 | 7 | 2 | 0 | 3 |
| Total Income | 331 | 339 | 488 | 570 | 589 | 904 |
| Total Expenditure | 279 | 286 | 401 | 465 | 479 | 729 |
| Operating Profit | 52 | 53 | 86 | 105 | 110 | 174 |
| Interest | 6 | 8 | 9 | 12 | 12 | 10 |
| Depreciation | 4 | 5 | 6 | 8 | 9 | 21 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 42 | 40 | 72 | 85 | 89 | 144 |
| Provision for Tax | 10 | 10 | 21 | 22 | 22 | 38 |
| Profit After Tax | 32 | 30 | 51 | 63 | 67 | 106 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 32 | 30 | 51 | 63 | 67 | 106 |
| Adjusted Earnings Per Share | 0.1 | 1.1 | 1.8 | 2.2 | 2.2 | 3.5 |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|
| Net Sales | 507 | 664 | 925 | 1541 | 2537 |
| Other Income | 1 | 1 | 3 | 9 | 12 |
| Total Income | 508 | 665 | 927 | 1550 | 2551 |
| Total Expenditure | 462 | 612 | 826 | 1292 | 2074 |
| Operating Profit | 46 | 53 | 101 | 258 | 475 |
| Interest | 5 | 16 | 26 | 27 | 43 |
| Depreciation | 1 | 6 | 13 | 18 | 44 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 40 | 31 | 63 | 213 | 390 |
| Provision for Tax | 11 | 7 | 17 | 57 | 103 |
| Profit After Tax | 29 | 24 | 45 | 156 | 287 |
| Adjustments | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 29 | 24 | 45 | 156 | 287 |
| Adjusted Earnings Per Share | 1.8 | 1.6 | 1.6 | 5.6 | 9.7 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 67% | 45% | 0% | 0% |
| Operating Profit CAGR | 155% | 78% | 0% | 0% |
| PAT CAGR | 247% | 75% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | NA% | NA% | NA% | NA% |
| ROE Average | 49% | 36% | 37% | 37% |
| ROCE Average | 41% | 25% | 22% | 22% |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Shareholder's Funds | 181 | 193 | 240 | 397 |
| Minority's Interest | 0 | 0 | 0 | 0 |
| Borrowings | 15 | 67 | 63 | 88 |
| Other Non-Current Liabilities | 3 | 12 | 20 | 77 |
| Total Current Liabilities | 201 | 243 | 287 | 452 |
| Total Liabilities | 399 | 515 | 610 | 1014 |
| Fixed Assets | 114 | 230 | 276 | 418 |
| Other Non-Current Assets | 8 | 17 | 3 | 28 |
| Total Current Assets | 277 | 267 | 329 | 567 |
| Total Assets | 399 | 515 | 610 | 1014 |
| #(Fig in Cr.) | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 4 |
| Cash Flow from Operating Activities | -58 | 78 | 85 | 18 |
| Cash Flow from Investing Activities | -46 | -132 | -45 | -118 |
| Cash Flow from Financing Activities | 104 | 55 | -37 | 104 |
| Net Cash Inflow / Outflow | -0 | 0 | 4 | 4 |
| Closing Cash & Cash Equivalent | 0 | 0 | 4 | 8 |
| # | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Earnings Per Share (Rs) | 1.83 | 1.57 | 1.62 | 5.58 |
| CEPS(Rs) | 1.92 | 1.95 | 2.08 | 6.22 |
| DPS(Rs) | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 4.64 | 5.41 | 8.52 | 14.12 |
| Core EBITDA Margin(%) | 8.86 | 7.82 | 10.69 | 16.15 |
| EBIT Margin(%) | 8.84 | 7.12 | 9.58 | 15.59 |
| Pre Tax Margin(%) | 7.8 | 4.74 | 6.77 | 13.83 |
| PAT Margin (%) | 5.63 | 3.67 | 4.9 | 10.15 |
| Cash Profit Margin (%) | 5.9 | 4.56 | 6.28 | 11.31 |
| ROA(%) | 7.15 | 5.33 | 8.06 | 19.26 |
| ROE(%) | 39.55 | 31.16 | 28.09 | 49.33 |
| ROCE(%) | 13.9 | 13.01 | 20.99 | 40.63 |
| Receivable days | 28.43 | 18.69 | 18.4 | 16.32 |
| Inventory Days | 128.24 | 100.38 | 82.76 | 72.82 |
| Payable days | 44.66 | 42.58 | 49.61 | 39.25 |
| PER(x) | 0 | 0 | 0 | 0 |
| Price/Book(x) | 0 | 0 | 0 | 0 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.48 | 0.48 | 0.23 | 0.23 |
| EV/Core EBITDA(x) | 5.28 | 6.02 | 2.07 | 1.37 |
| Net Sales Growth(%) | 0 | 31.02 | 39.24 | 66.62 |
| EBIT Growth(%) | 0 | 5.48 | 87.4 | 171.26 |
| PAT Growth(%) | 0 | -14.63 | 85.93 | 245.09 |
| EPS Growth(%) | 0 | -14.63 | 3.42 | 244.62 |
| Debt/Equity(x) | 0.78 | 1.09 | 0.84 | 0.88 |
| Current Ratio(x) | 1.38 | 1.1 | 1.15 | 1.26 |
| Quick Ratio(x) | 0.49 | 0.33 | 0.34 | 0.41 |
| Interest Cover(x) | 8.52 | 2.99 | 3.41 | 8.85 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 |
| # | Sep 2025 | Nov 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|
| Promoter | 0 | 86.77 | 86.77 | 86.77 |
| FII | 0 | 2.87 | 2.5 | 1.93 |
| DII | 0 | 4.3 | 4.72 | 5.6 |
| Public | 0 | 6.07 | 6.01 | 5.7 |
| Others | 0 | 0 | 0 | 0 |
| Total | 0 | 100 | 100 | 100 |
| # | Sep 2025 | Nov 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|
| Promoter | 0 | 26.59 | 26.59 | 26.59 |
| FII | 0 | 0.88 | 0.77 | 0.59 |
| DII | 0 | 1.32 | 1.45 | 1.72 |
| Public | 0 | 1.86 | 1.84 | 1.75 |
| Others | 0 | 0 | 0 | 0 |
| Total | 0 | 30.64 | 30.64 | 30.64 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +67% | +45% | — | — |
| Operating Profit CAGR | +155% | +78% | — | — |
| PAT CAGR | +247% | +75% | — | — |
| Share Price CAGR | — | — | — | — |
| ROE Average | +49% | +36% | +37% | +37% |
| ROCE Average | +41% | +25% | +22% | +22% |
| # | Sep 2025 | Nov 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|
| Promoter | 0 | 86.77 | 86.77 | 86.77 |
| FII | 0 | 2.87 | 2.5 | 1.93 |
| DII | 0 | 4.3 | 4.72 | 5.6 |
| Public | 0 | 13.23 | 13.23 | 13.23 |
| Others | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 |
| # | Sep 2025 | Nov 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|
| Promoter | 0 | 26.59 | 26.59 | 26.59 |
| FII | 0 | 0.88 | 0.77 | 0.59 |
| DII | 0 | 1.32 | 1.45 | 1.72 |
| Public | 0 | 4.05 | 4.05 | 4.05 |
| Others | 0 | 0 | 0 | 0 |
| Total | 0 | 30.64 | 30.64 | 30.64 |
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