Kolkata: Websol Energy System Limited (BSE: 517498; NSE: WEBELSOLAR), a leading Indian manufacturer of high-efficiency solar cells and modules, has announced its unaudited financial results for the quarter and half year ended 30th September 2025, showcasing strong operational growth and strategic expansion.
For H1 FY26, Websol reported Revenue from Operations of ₹387 crore, marking a 51.7% year-on-year increase. EBITDA stood at ₹176 crore with a margin of 45.4%, while PAT reached ₹114 crore with a margin of 28.9%, translating to an EPS of ₹26.9.
Q2 FY26 revenues were temporarily impacted by an eight-day shutdown for electrical integration of the newly commissioned 600 MW Mono PERC solar cell line at Falta, West Bengal, and logistical slowdowns due to the festive season. Despite this, Websol maintained robust margins and operational efficiency.
Financial Highlights:
- Cash Flow from Operations: ₹132 crore
- Cash Conversion: 75.2%
- Net Debt: ₹92.5 crore (Net Debt to Equity at 0.24x; Net Debt to EBITDA at 0.53x)
- ROCE: 34.5%; ROE: 33.9%
Business Milestones:
- Commissioned Phase II of 600 MW Mono PERC solar cell line, scaling total cell capacity to 1,200 MW
- Achieved 23%+ efficiency within one month of production
- Expansion funded entirely through internal accruals
- Board approved ₹3,000 crore investment to scale manufacturing capacity to 5.2 GW of solar cells and 4.5 GW of modules by June 2028
- Planned adoption of Topcon technology to meet evolving customer demands
- Approved 1:10 stock split effective 14th November 2025
Commenting on the performance, Managing Director Sohan Lal Agarwal stated:
“Q2 FY26 marked another milestone in our journey as a leading solar manufacturer. Despite temporary disruptions, we delivered strong financial results and commissioned our new 600 MW line with remarkable efficiency gains. Our ₹3,000 crore investment plan reflects our commitment to scale sustainably and lead India’s clean energy transition.”
Websol’s strategic roadmap aligns with India’s renewable energy goals and favorable policy environment. With continued investments in R&D, automation, and advanced manufacturing, the company aims to deliver high-performance solar solutions that drive sustainable growth and stakeholder value.
