Websol Energy Q4 results: PAT soars 158% to Rs 125 crore, revenue surges 132%

Solar cells and solar modules manufacturer Websol Energy System reported a net profit of Rs 125 crore in the March-ended quarter on Tuesday versus Rs 48 crore in the year ago period, implying a 158% surge. The company's revenue from operations in Q4FY26 stood at Rs 401 crore, jumping 132% compared to Rs 173 crore in the corresponding quarter of the last financial year.

The profit after tax (PAT) grew 92% on a sequential basis against Rs 65 crore in Q3FY26 while the topline recorded a 54% rise versus Rs 261 crore posted in the October-December quarter of FY26.

Company's Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 146 crore in the quarter under review versus Rs 79 crore in the year ago period, witnessing an 86% jump.


However, EBITDA margin narrowed to 36.4%, falling 892 bps versus 45.4% in the same period, year ago.

The company’s full year PAT stood at Rs 303 crore, up 95.8% as compared to Rs. 155 crore for FY25. Revenue for FY26 was at Rs 1,049 crore, a growth of 82.4% as against Rs 575 crore in FY25. EBITDA margin for FY26 was at 40.8%, against 43.9% in FY25.

In its filing to the exchanges, the company said it initiated the upgrade of one Mono PERC cell line to Topcon. Post commissioning of this capacity, overall cell capacity will increase to 1.35 GW.

Outlook

India’s solar manufacturing sector continues to benefit from strong structural tailwinds, including ambitious renewable capacity targets, supportive government policies such as PLI and ALMM, and increasing domestic demand for high-efficiency solar products, Websol said in media release. "With a strengthened manufacturing base, improving utilization levels, and a clear roadmap for expansion and integration, Websol is well positioned to capitalize on these opportunities," the release added.

Management commentary

Commenting on the performance, Managing Director Sohan Lal Agarwal said 'FY26 has been a landmark year for Websol as the commissioning of Cell Line-2 not only enhanced company's capacity but also reinforced the core strength of the business.

"Our Q4 and full-year performance are the result of several deliberate efforts, managing working capital prudently, improving capacity utilisation, maintaining cost discipline and executing with consistency. This has led to record revenue and profitability, stronger cash flows and better operating efficiency. As we move toward full run-rate utilisation, our focus remains, get the most out of the expanded capacity, move ahead on backward integration, and prepare responsibly for the next phase of growth," Agarwal added.