Websol Energy System Ltd delivered a standout performance for FY26, clocking sharp gains in both revenue and profitability, driven by capacity expansion, strong execution and robust demand in the solar segment.
Q4 sees explosive growth
The company reported a Profit After Tax (PAT) of ₹125 crore in Q4FY26, marking a 157.9% surge from ₹48 crore in the same period last year. Revenue for the quarter more than doubled to ₹401 crore, up 132.1% YoY from ₹173 crore. EBITDA margin for the quarter stood at a healthy 36.4%, reflecting strong operating leverage.
FY26 emerges as a landmark year
For the full year, Websol’s PAT rose 95.8% to ₹303 crore compared to ₹155 crore in FY25. Revenue climbed 82.4% to ₹1,049 crore, up from ₹575 crore a year earlier. EBITDA margin for FY26 came in at 40.8%, slightly lower than 43.9% in FY25, indicating higher scale-led investments.
Capacity expansion and tech upgrade underway
During the quarter, the company initiated the upgrade of one Mono PERC cell line to advanced Topcon technology. Post commissioning, total cell capacity is expected to increase to 1.35 GW.
Operationally, Cell Line-2 ramped up successfully, with overall cell capacity utilisation remaining above 90%, while module line utilisation stood at 74%.
Balance sheet turns net cash positive
Websol strengthened its financial position, turning net cash surplus as of March 31, 2026. The company reported total debt of ₹118 crore, cash and cash equivalents of ₹152 crore, resulting in a net cash position of ₹34 crore.
The order book remained robust at ₹1,161 crore, providing strong revenue visibility.
A landmark year
Websol Energy System MD Sohan Lal Agarwal said, “FY26 has been a landmark year for Websol. The commissioning of Cell Line-2 has not only enhanced our capacity but also reinforced the core strength of the business. Additionally, we are upgrading one of our existing Mono PERC cell lines to Topcon technology, which will raise our total cell capacity to 1.35 GW and support our upcoming integrated 2 GW facility.”
He added that the strong Q4 and full-year performance was driven by disciplined working capital management, improved capacity utilisation and consistent execution, resulting in record revenue, profitability and stronger cash flows.
Outlook
As the company moves towards full utilisation of its expanded capacity, it remains focused on backward integration and preparing for the next phase of growth, while capitalising on the expanding opportunities in India’s solar energy sector.