Websol energy reports strong half-year growth, plans 5.2 GW solar expansion

Websol Energy System Limited reported robust financial results for H1 FY26, with revenue from operations reaching Rs. 387 Cr, a 51.7% increase year-on-year. EBITDA for the period stood at Rs. 176 Cr, up 64.8% year-on-year, with an EBITDA margin of 45.4%. Profit after tax (PAT) grew by 74.9% to Rs. 114 Cr, resulting in an EPS of Rs. 26.9 and a PAT margin of 28.9%. For Q2 FY26, revenue from operations was Rs. 168 Cr, and PAT was Rs. 46 Cr.

The company commissioned a new 600 MW Mono PERC solar cell line (Phase II) at Falta, West Bengal, in September 2025, bringing overall cell capacity to 1,200 MW. This expansion was fully funded through internal accruals. The board approved an investment plan of Rs. 3,000 Cr to further expand manufacturing capacity to 5.2 GW of solar cells and 4.5 GW of modules by June 2028, upgrading to next-generation Topcon technology.

Key financial highlights for H1 FY26 included cash flow from operations of Rs. 132 Cr, a cash conversion (cash flow from operations/EBITDA) of 75.2%, and a net debt to equity ratio of 0.24x. Total debt stood at Rs. 146.3 Cr, with cash and equivalents of Rs. 53.8 Cr.