Websol Energy System Limited reported revenue from operations of ₹361.02 crore in the second quarter of FY27, marking a 114.6% year-on-year increase from ₹168.22 crore in Q2 FY26. Profit after tax (PAT) grew 73.2% to ₹80.21 crore compared with ₹46.32 crore in the corresponding quarter last year.
The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 77.3% year-on-year to ₹128.14 crore from ₹72.29 crore. EBITDA margin stood at 35.5%, while PAT margin was 22% during the quarter.
Websol recorded solar cell production of 255 MW with capacity utilisation of 91%. Solar module production stood at 88 MW, with utilisation of 68%. Its outstanding order book was ₹1,280 crore as of September 30, 2026, comprising 55% solar cells and 45% solar modules.
For the first half of FY27, revenue from operations increased 89.6% year-on-year to ₹733.62 crore. EBITDA rose 44.4% to ₹253.72 crore, while PAT increased 39.2% to ₹158 crore. The EBITDA margin for H1 FY27 was 34.6%, and the PAT margin stood at 21.3%. Basic earnings per share increased to ₹3.64 from ₹2.69 in H1 FY26.
During the quarter, Websol prepaid its entire ₹110 crore Indian Renewable Energy Development Agency (IREDA) term loan on August 4, 2026, using internal accruals. The repayment resulted in the release of a portion of the promoter share pledge, reducing the pledged shares from approximately 80% to 16%. Promoter holding remained unchanged at 29.72%. The company reported a net cash position of ₹165 crore as of September 30, 2026, with no gross debt.
Websol also secured a 54.20-acre land allotment from the Government of West Bengal at Falta Industrial Park for a greenfield solar cell manufacturing facility. The planned facility will add 4 GW of solar cell manufacturing capacity in two phases of 2 GW each. The location is near the company’s existing Falta Special Economic Zone operations.
The company is upgrading a 600 MW Mono PERC solar cell manufacturing line to 750 MW TOPCon technology at its existing facility, taking total cell capacity to 1.35 GW. The upgrade is expected to increase cell efficiency to approximately 25% from 23.35% for Mono PERC cells, with trial runs targeted for Q4 FY27. The project involves an estimated capital expenditure of ₹270 crore and a projected payback period of around three years.
Websol Energy System Managing Director Sohan Lal Agarwal said the company’s revenue more than doubled year-on-year, while its solar cell manufacturing lines operated at 91% utilisation during the quarter. He also highlighted the IREDA loan repayment and the Falta land allotment as developments supporting the company’s expansion plans.
Agarwal added that the company is expanding beyond solar cell manufacturing into EPC, solar independent power producer (IPP) projects, solar parks and energy trading, following approval from its Board of Directors. The company is focusing on project execution, site preparation, commissioning and capacity utilisation as part of its expansion strategy.
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