{"id":328944,"date":"2026-10-27T17:09:55","date_gmt":"2026-10-27T11:39:55","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=328944"},"modified":"2026-10-27T17:09:55","modified_gmt":"2026-10-27T11:39:55","slug":"fujiyama-power-systems-shares-motilal-oswal-sees-36-percent-upside-rs-500-target-rooftop-solar-q1-numbers-valuation-and-risks","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/fujiyama-power-systems-shares-motilal-oswal-sees-36-percent-upside-rs-500-target-rooftop-solar-q1-numbers-valuation-and-risks\/","title":{"rendered":"Fujiyama Power Systems Shares: Motilal Oswal Sees 36% More Upside With a Rs 500 Target, but Is This Rooftop Solar Stock Still a Buy? Q1 Numbers, Valuation and Risks"},"content":{"rendered":"

Fujiyama Power Systems shares closed at Rs 369.20 on the NSE (Rs 368.40 on the BSE) on Tuesday, 27 Oct 2026, up 1.46%, after Motilal Oswal reiterated a Buy rating with a target of Rs 500, which is about 35.7% above the BSE price (my calculation). The stock is up about 65% in 2026 as per the headline, but it is still about 14.6% below its record high of Rs 431.25 set on 14 Aug (my calculation).<\/em><\/p>\n

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Quick Answer<\/strong><\/p>\n

Fujiyama Power Systems shares are in focus because Motilal Oswal has reiterated Buy with a Rs 500 target based on 20 times FY28 earnings, about 36% above the BSE price of Rs 368.40. The brokerage expects revenue, EBITDA and adjusted profit to grow at 52%, 57% and 59% a year over FY26 to FY28, helped by a planned 1.2 GW TOPCon cell plant at Ratlam. The stock trades near 38 times trailing earnings and one data provider shows Q1 profit lower than a year ago, so the growth case needs to be delivered. This is educational and not a recommendation.<\/p>\n<\/p><\/div>\n

Fujiyama Power Systems shares have been one of the strongest rooftop solar stocks of 2026, rising from a low of Rs 170.65 in March to a high of Rs 431.25 in August. This article looks at where Fujiyama Power Systems shares stand today, how the Motilal Oswal target price has moved from Rs 340 to Rs 500, the Q1 FY27 numbers, the valuation and the risks that the brokerage itself lists. Fujiyama Power Systems shares trade on the NSE under the symbol UTLSOLAR.<\/p>\n

I could not find the Q2 FY27 results date or any Q2 numbers for the company, and I did not retrieve the full Motilal Oswal report, so the target details come from news summaries. One data provider and one news report differ on Q1 figures, which I show side by side below. It is educational and not advice.<\/p>\n

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