WEBELSOLAR - Websol Energy
📢 Recent Corporate Announcements
Websol Energy System Limited has released the audio recording of its earnings call held on April 28, 2026. The call focused on the audited standalone and consolidated financial results for the fourth quarter and the full financial year ended March 31, 2026. This disclosure ensures transparency by providing all shareholders access to management's discussion on performance. The recording is available for download on the company's official website under the Investor Relations section.
- Audio recording of the Q4 and FY26 earnings call made available on April 28, 2026.
- The call discussed audited financial results for the fiscal year ending March 31, 2026.
- Compliance maintained under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- Direct MP3 link provided for investor access via the company's official website.
Websol Energy System Limited achieved its highest-ever annual revenue of ₹1,049 crore in FY26, marking an 82.4% YoY growth. The company reported a significant turnaround with PAT reaching ₹303 crore, supported by a tax benefit from brought-forward losses. Operationally, the company doubled its cell capacity to 1.2 GW and maintained high utilization rates above 90%. The balance sheet strengthened considerably, turning net cash surplus with a debt-to-equity ratio of 0.19x.
- Annual Revenue grew 82.4% YoY to ₹1,049 Cr, with Q4FY26 Revenue surging 132.1% YoY to ₹401 Cr.
- FY26 PAT increased 95.8% YoY to ₹303 Cr, while Q4 PAT rose 157.9% to ₹125 Cr.
- Company turned net cash surplus with a Net Debt of -₹34 Cr and a low Debt/Equity ratio of 0.19x.
- Order book stands robust at ₹1,161 Cr, with a clear roadmap to expand capacity to 5.35 GW by 2028.
- Operational efficiency improved with cell utilization at 90%+ and average efficiency at 23.35%.
Websol Energy reported a stellar Q4FY26 with revenue growing 132% YoY to Rs 401 crore and PAT surging 158% to Rs 125 crore. For the full year FY26, the company crossed the Rs 1,000 crore revenue milestone, reaching Rs 1,049 crore with a PAT of Rs 303 crore. The company has successfully turned net cash surplus with Rs 34 crore in net cash and maintains a robust order book of Rs 1,161 crore. Operational efficiency remains high with cell capacity utilization exceeding 90% following the ramp-up of Cell Line-2.
- Q4FY26 Revenue grew 132.1% YoY to Rs 401 crore; FY26 Revenue up 82.4% to Rs 1,049 crore
- Q4FY26 PAT increased 157.9% YoY to Rs 125 crore; FY26 PAT rose 95.8% to Rs 303 crore
- Company turned net cash surplus with Rs 152 crore in cash against Rs 118 crore total debt
- Strong order book of Rs 1,161 crore as of March 31, 2026, providing high revenue visibility
- Initiated upgrade to Topcon technology, which will increase overall cell capacity to 1.35 GW
Websol Energy System Limited reported a robust financial performance for FY26, with annual revenue nearly doubling to ₹1,049.44 crore from ₹575.46 crore in the previous year. Net profit surged by approximately 96% to reach ₹303.01 crore, driven by strong quarterly performance in Q4 where revenue hit ₹401.45 crore. The Board has recommended a final dividend of ₹0.25 per share (25% of face value) and approved the re-appointment of Mr. Sohan Lal Agarwal as Managing Director for three years. These results indicate significant scaling in operations and improved profitability margins for the solar cell manufacturer.
- Annual Revenue from Operations grew 82.3% YoY to ₹1,049.44 crore in FY26.
- Net Profit for the full year increased to ₹303.01 crore compared to ₹154.74 crore in FY25.
- Q4 FY26 Revenue stood at ₹401.45 crore, a 132% increase over Q4 FY25's ₹172.99 crore.
- Board recommended a final dividend of ₹0.25 per equity share of face value ₹1/-.
- Basic Earnings Per Share (EPS) rose to ₹6.98 for FY26 from ₹3.67 in the previous year.
Websol Energy System Limited has scheduled its earnings conference call for Tuesday, April 28, 2026, at 4:00 PM IST. The call is intended to discuss the audited financial results for the fourth quarter and the full financial year ended March 31, 2026. Senior management, including the Managing Director and CFO, will be present to address investor queries. This routine disclosure is made in compliance with SEBI Listing Obligations and Disclosure Requirements.
- Earnings conference call scheduled for April 28, 2026, at 4:00 PM IST.
- Discussion will cover audited financial results for Q4 and the full fiscal year 2026.
- Management representation includes MD Sohan Lal Agarwal and CFO Amit Daga.
- Universal dial-in numbers provided: +91 22 6280 1106 and +91 22 7115 8007.
Websol Energy System Limited has officially responded to clarification requests from the NSE and BSE regarding recent significant movements in its share price. The company stated that it is in full compliance with SEBI (LODR) Regulations, 2015, and has consistently disclosed all material events. Management confirmed there is no undisclosed price-sensitive information or impending corporate actions that could be driving the volatility. The company maintains that the price movement is purely market-driven and outside of its control.
- Response submitted on April 10, 2026, following exchange queries dated April 9, 2026
- Company confirms strict adherence to SEBI (LODR) disclosure requirements
- Management denies existence of any pending price-sensitive announcements
- Recent stock price volatility is attributed entirely to market conditions
Websol Energy System Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The document, issued by R&D Infotech Private Limited, confirms the processing of dematerialization requests for the quarter ended March 31, 2026. This is a standard regulatory requirement to ensure that share records are accurately updated with depositories. The filing indicates the company is maintaining its routine administrative and compliance obligations.
- Compliance certificate submitted for the quarter ended March 31, 2026
- Issued under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
- Registrar and Share Transfer Agent (RTA) confirmed as R&D Infotech Private Limited
- Confirms the cancellation of physical share certificates after dematerialization
Websol Energy System Limited has officially notified the exchanges regarding the closure of its trading window starting April 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the financial results for the quarter and year ending March 31, 2026. The window will remain closed for designated persons and their immediate relatives until 48 hours after the results are declared. The specific date for the board meeting to approve these results will be announced at a later date.
- Trading window closure begins on April 1, 2026, for all designated persons.
- Closure pertains to the financial results for the quarter and year ending March 31, 2026.
- The window will reopen 48 hours after the official declaration of the financial results.
- The announcement follows standard SEBI (Prohibition of Insider Trading) Regulations, 2015.
Websol Energy System Limited has successfully converted 1,210,000 warrants into 12,100,000 equity shares for its promoter group, Websol Green Projects Private Limited. The conversion follows the receipt of the remaining 75% subscription amount, totaling approximately Rs. 48.10 crore. The conversion price was adjusted to Rs. 53 per share to account for the 1:10 stock split executed in November 2025. This move increases the total paid-up equity capital to Rs. 43.42 crore, signaling strong promoter commitment and providing fresh liquidity to the company.
- Allotment of 1,21,00,000 equity shares of Re. 1 face value to the Promoter Group.
- Infusion of Rs. 48,09,75,000 representing the final 75% payment for warrant conversion.
- Conversion price adjusted to Rs. 53 per share following the 1:10 stock split in November 2025.
- Total paid-up capital increased to 43,41,63,470 equity shares.
- Promoter group exercised 100% of their pending warrants within the stipulated 18-month period.
Websol Energy System Limited has successfully bagged three new purchase orders for solar modules totaling 85.5 MW. These orders, valued at Rs 172 crores, are from Bekem Infra Projects, Sri Avantika Contractors, and Kosol Energie, with delivery scheduled by May 2026. The company also clarified that recent U.S. solar import tariffs will have no impact on its operations as it currently does not export to the United States. This development strengthens the company's domestic order book and utilizes its 550 MW module manufacturing capacity.
- Total order value of Rs 172 crores for 85.5 MW of solar modules
- Delivery of the new orders is expected to be completed by May 2026
- Clients include Bekem Infra Projects, Sri Avantika Contractors, and Kosol Energie
- Zero impact from U.S. solar tariffs confirmed due to lack of U.S. exports
- Current manufacturing capacity stands at 1,200 MW for cells and 550 MW for modules
Websol Energy System Limited has responded to a clarification sought by the National Stock Exchange regarding its financial results for the quarter ended December 31, 2025. The company explained that its wholly owned subsidiary, Websol Renewables Private Limited, was incorporated on October 13, 2025, but had not yet commenced operations. Due to the lack of operational activity in the subsidiary, there was no material impact on the company's financials. As a result, the standalone and consolidated financial figures for the quarter remained identical.
- NSE sought clarification on identical standalone and consolidated figures for the quarter ended Dec 31, 2025.
- Wholly Owned Subsidiary Websol Renewables Private Limited was incorporated on October 13, 2025.
- Subsidiary had zero operations as of the reporting date of December 31, 2025.
- No material impact on financials, leading to identical standalone and consolidated reporting.
Websol Energy reported a strong Q3FY26 with revenue growing 77.2% YoY to ₹261 Cr and PAT rising 56.2% to ₹65 Cr. The company successfully commissioned its second 600 MW Mono PERC cell line, bringing total cell capacity to 1.2 GW. A massive expansion plan is underway in Andhra Pradesh to add 4 GW of Topcon capacity with a ₹3,000 Cr+ investment, supported by a 48.5% government subsidy. With an order book of ₹1,150 Cr and a low debt-to-equity ratio of 0.29x, the company is well-positioned for aggressive growth.
- Revenue increased 77.2% YoY to ₹261 Cr in Q3FY26, with EBITDA margins at a robust 40.8%.
- Current order book stands at ₹1,150 Cr, with cells contributing 43% and modules 57%.
- Announced a ₹3,000 Cr+ capex for a 4 GW integrated Topcon facility in Andhra Pradesh with 48.5% investment subsidy.
- Phase II 600 MW cell line commissioned in record time, achieving 23.6% peak efficiency.
- Exploring backward integration into Ingot and Wafer manufacturing through an MoU with Linton to ensure supply security.
Websol Energy System reported a robust Q3 FY26 with revenue growing 77.2% YoY to Rs 261 crores, driven by the commissioning of its second cell line. The company maintained high profitability with an EBITDA margin of 40.8% and a PAT of Rs 65 crores. Its order book remains strong at Rs 1,150 crores, split between modules (57%) and cells (43%). Management is aggressively pursuing backward integration and a new 4 GW facility in Andhra Pradesh to sustain long-term growth.
- Q3 FY26 Revenue grew 77.2% YoY to Rs 261 crores with a PAT of Rs 65 crores.
- Order book stands at Rs 1,150 crores, providing significant revenue visibility for upcoming quarters.
- Cell Line-2 reached 54% utilization within three months of commissioning, achieving 23.6% peak efficiency.
- Net debt stood at Rs 89 crores with an improved Debt/EBITDA ratio of 0.47x.
- Approved 4 GW integrated solar facility in Andhra Pradesh with secured land and incentive packages.
Websol Energy System Limited has announced its participation in the MANTHAN – Systematix India’s Annual Flagship Conference scheduled for February 10, 2026. The engagement will include both 1x1 and group interactions with institutional investors and analysts starting at 10:00 AM. The company has clarified that no unpublished price-sensitive information will be shared, and discussions will rely on existing public disclosures. This move is part of the company's routine investor relations efforts to maintain market visibility.
- Participation in MANTHAN – Systematix India’s Annual Flagship Conference on February 10, 2026.
- Interaction format includes both 1x1 and group meetings with institutional investors.
- The physical event is scheduled to commence at 10:00 AM in a physical mode/venue.
- Company confirms that only latest publicly available documents will be used for discussions.
- Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Websol Energy System Limited has released the audio recording of its analyst and institutional investor meeting held on January 30, 2026. The call focused on the company's standalone and consolidated financial results for the third quarter and nine months ended December 31, 2025. This disclosure is a standard regulatory requirement under SEBI (LODR) Regulations to ensure transparency for all shareholders. The recording is now accessible to the public via the company's official investor relations website.
- Earnings call held on January 30, 2026, to discuss Q3 FY26 financial performance.
- Recording covers both standalone and consolidated results for the nine-month period ended Dec 31, 2025.
- Filing made in compliance with Regulation 30 and 46 of SEBI (LODR) Regulations, 2015.
- Access link provided for the company's dedicated investor meet portal.
Financial Performance
Revenue Growth by Segment
Revenue from operations grew 51.7% YoY in H1FY26 to INR 387 Cr from INR 255 Cr in H1FY25. Q2FY26 revenue was INR 168 Cr, representing a 17.2% YoY increase but a 23.1% sequential decline from Q1FY26.
Profitability Margins
H1FY26 PAT margin stood at 28.9%, an improvement of 354 bps from 25.4% in H1FY25. Q2FY26 PAT margin was 27.0%, down 219 bps YoY and 340 bps QoQ.
EBITDA Margin
EBITDA margin for H1FY26 was 45.4%, up 362 bps from 41.8% in H1FY25. Q2FY26 EBITDA margin was 43.0%, a slight decline of 68 bps YoY.
Capital Expenditure
Historical Capex in H1FY26 was INR 162 Cr (investing activities), significantly higher than INR 43 Cr in H1FY25. Property, Plant and Equipment increased to INR 468 Cr in H1FY26 from INR 283 Cr in FY25.
Credit Rating & Borrowing
Interest Coverage Ratio improved to 17.48 in H1FY26 from 10.99 in FY25. Finance costs decreased 15.4% YoY in H1FY26 to INR 9 Cr.
Operational Drivers
Raw Materials
Cost of Material Consumed represents the primary operational cost, totaling INR 144 Cr in H1FY26, which is 37.2% of total revenue.
Capacity Expansion
PPE increased from INR 283 Cr in FY25 to INR 468 Cr in H1FY26, indicating significant capacity addition. Capital work-in-progress stood at INR 8 Cr as of H1FY26.
Raw Material Costs
Raw material costs increased 64.5% YoY in H1FY26 to INR 144 Cr, outpacing revenue growth of 51.7%.
Manufacturing Efficiency
Return on Capital Employed (ROCE) was 67.81% (annualized) in H1FY26, compared to 80.22% in FY25.
Logistics & Distribution
Other expenses, which include distribution and administrative costs, were INR 81 Cr in H1FY26, up 53.4% YoY.
Strategic Growth
Expected Growth Rate
51.70%
Growth Strategy
Growth is driven by capacity expansion (PPE growth of INR 185 Cr in six months), supportive policy frameworks for local production, and technology advancement in the solar industry. The company is also engaging in non-deal roadshows to interact with institutional investors like Jefferies and HSBC AM.
Products & Services
Solar cells and solar modules (implied by industry positioning and company name).
Brand Portfolio
Websol Energy System.
Market Expansion
The company is targeting growth through supportive policy frameworks that encourage local production and technology advancement.
External Factors
Industry Trends
Benefiting from supportive policy frameworks encouraging local production and technology advancement in the solar sector.
Competitive Landscape
The company faces competition and risks related to managing growth and talent retention.
Macro Economic Sensitivity
Sensitive to economic conditions, fiscal deficits, and prevailing economic costs.
Geopolitical Risks
Subject to risks from regulatory changes and government policies affecting the solar industry.
Regulatory & Governance
Industry Regulations
Compliant with SEBI (LODR) Regulations, 2015 and other applicable SEBI guidelines.
Taxation Policy Impact
Tax expenses for H1FY26 were INR 37 Cr compared to INR 16 Cr in H1FY25. Deferred tax liabilities increased to INR 43 Cr.
Legal Contingencies
No penalties imposed by capital market regulators in the last three years. No loans/advances provided to firms where directors are interested.
Risk Analysis
Key Uncertainties
Fluctuations in earnings, contract overruns, and regulatory changes are cited as key risk factors.
Technology Obsolescence Risk
Technological developments are listed as a risk factor requiring continuous advancement.
Credit & Counterparty Risk
Trade receivables increased to INR 16 Cr in H1FY26 from INR 5 Cr in FY25.