BIS inspection on 10-15 SKUs
BIS department has questioned compliance on 10-15 SKUs out of 500. Management has filed replies and expects no material penalty, but worst-case penalty could equal seizure value.
UTLSOLAR / Q4-FY26 / risks
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Fujiyama Power Systems · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Fire incident at lead-acid battery facility
A fire at the 1.3 GW lead-acid battery facility temporarily suspended operations. Alternate third-party arrangements are in place, but margin impact is possible.
Execution delays in battery line commissioning
Battery manufacturing line commissioning delayed to Q2 FY27 due to technology upgrades and geopolitical supply chain issues.
Inventory buildup and working capital pressure
Net working capital days increased to 83 from 71, driven by higher raw material inventory to support expansion. Management expects normalization as new facilities ramp up.