Websol Energy System Q1 profit rises 16% as revenue grows 70%
Websol Energy System Limited reported a 70% year-on-year increase in revenue from operations to Rs 372.60 crore in the first quarter of fiscal year 2027 ended June 30, 2026, supported by higher production of both solar cells and modules. Profit after tax (PAT) increased 16% to Rs 77.79 crore, while Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 21% to Rs 125.58 crore.
The company, a domestic manufacturer of high-efficiency solar cells and modules, also reported a sharp improvement in manufacturing utilisation during the quarter as module production more than doubled from a year earlier.
Production
Module production increased to 103 MW in Q1 FY27 from 50 MW in Q1 FY26, taking capacity utilisation to 81% from 39%. Cell production reached 259 MW, with capacity utilisation remaining at 92%.
EBITDA margin, however, declined to 34% from 47% in the year-ago quarter. Websol attributed the reduction to a higher share of module sales in its product mix, as modules carry lower margins than standalone solar cells. The company said the change reflected a strategic decision to maximise overall production capacity.
Websol’s order book stood at Rs 1,278 crore as of June 30, 2026. The company operates an integrated manufacturing facility in the Falta Special Economic Zone, West Bengal, with current manufacturing capacity of 1,200 MW for cells and 550 MW for modules.
Debt repayment
Websol fully prepaid its outstanding term loan of Rs 110 crore from the Indian Renewable Energy Development Agency Limited (IREDA) on August 4, 2026. The company funded the repayment through internal accruals and said it did not raise fresh capital or defer any capital expenditure plans to complete the prepayment.
Following the repayment, the pledged portion of promoter shareholding was significantly reduced.
Sohan Lal Agarwal, Managing Director, said, “Q1 has started FY27 on the footing we wanted. Revenue is up 70% over the same quarter last year, and both our lines are running close to the levels we had planned for. The prepayment of the IREDA term loan is a step we have been working towards for some time. We have strengthened the balance sheet from cash the business generated, without raising capital and without slowing our investment plans.”
TOPCon upgrade
Websol has started upgrading an existing Mono PERC line to advanced TOPCon technology as part of its technology roadmap. The upgrade is scheduled for completion in March 2027.
Once completed, the company’s total TOPCon cell capacity will increase to 750 MW, while overall solar cell manufacturing capacity will rise from 1,200 MW to 1,350 MW. TOPCon technology will then account for approximately 55% of the company’s total cell capacity.
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