Transcript of the Analysts/Institutional Investors Meeting/Call on Audited Financial Results for the Quarter and Financial Year ended March 31, 2026
RESULTS
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 06 May 2026, 06:54 PM IST · BSE ID: 5638ad38-923b-4cb9-952f-f2abf91cc466
View Original BSE Filing (PDF)
⚡ Quick Answer
Websol Energy System Ltd reported record financial results for FY26, achieving INR 1,049 crores in revenue and INR 303 crores in profit after tax. The company also declared a dividend of INR 0.25 per share for FY26. This significant growth marks a strong performance for Websol Energy System Ltd.
💡
In Simple Terms
The company recorded its highest ever sales and profits in the last quarter and full year, and also announced a dividend.
🤖 AI Summary
- Websol Energy System's FY26 revenue from operations reached INR 1,049 crores, an 82% growth over last year.
- Full-year FY26 PAT was INR 303 crores, representing a 96% increase compared to last year.
- Q4 FY26 revenue stood at INR 401 crores, with PAT at INR 125 crores, marking it the best-ever quarter.
- The Board recommended a dividend of INR 0.25 per share for FY26, subject to shareholder approval.
- Cell capacity doubled from 600 MW to 1.2 GW, with further upgrade to 1.35 GW TOPCon technology by Feb 2027.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Revenue from Operations (FY26)
INR 1,049 crores
82%
PAT (FY26)
INR 303 crores
96%
EBITDA (FY26)
INR 429 crores
70%
Revenue from Operations (Q4FY26)
INR 401 crores
132%
PAT (Q4FY26)
INR 125 crores
158%
Operating Cash Flow (FY26)
INR 255 crores
Dividend per share (FY26)
INR 0.25 per share
Confirmed Order Book (Q4FY26 end)
INR 1,161 crores
🏢 How This Affects the Company
The company doubled its cell capacity from 600 MW to 1.2 GW and plans a further upgrade to 1.35 GW TOPCon technology by February 2027, enhancing its market position and product efficiency. The confirmed order book of INR 1,161 crores provides visibility for upcoming quarters.
Websol Energy System achieved its highest revenue, EBITDA, and PAT in company history, reaching net cash surplus and reducing debt to equity from 0.55 times to 0.19 times. Operating cash flow was INR 255 crores, 84% of PAT, strengthening the balance sheet and improving return ratios (ROCE 66%, ROE 67%).
Cell line 2 was commissioned in September 2025, increasing capacity to 1.2 GW, funded entirely by internal accruals. The upgrade of one Mono PERC cell line to TOPCon technology, targeting 24.5%+ efficiency, is expected by February 2027. Cell utilization remained high at above 90%, with module line at 80% utilization.
The company is in advanced discussions with IREDA for repayment of INR 92 crores debt and release of over 80% pledged promoter shares, aiming to complete this within one to two months, thereby reducing a significant financial risk.
👥 What This Means For Shareholders
✅
Action Required
Shareholders must approve the recommended dividend of INR 0.25 per share for FY26.
👤
Who Is Affected
Shareholders will be affected by the dividend payment of INR 0.25 per share upon approval, and the potential release of promoter pledged shares.
🔍
Management Signal
Management indicates confidence in business performance through dividend recommendation, strategic capacity expansion, and focus on financial discipline (net cash surplus, debt reduction).
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Announcement of IREDA loan repayment and release of pledged promoter shares within 1-2 months.
Detailed communication on the 2 GW cell and module facility in Andhra Pradesh, including timelines.
Update on the commercial production start of the upgraded TOPCon cell line in February 2027.
MEDIUM RISK
Outstanding pledged promoter shares and ongoing evaluation of large project timelines.
💡 Investor Takeaway
Websol Energy System reported FY26 revenue of INR 1,049 crores (+82% YoY) and PAT of INR 303 crores (+96% YoY). Q4FY26 revenue was INR 401 crores. Cell capacity doubled to 1.2 GW, with an upgrade to 1.35 GW TOPCon by Feb 2027. A dividend of INR 0.25 per share for FY26 was recommended.
⚖️ Strengths & Concerns
✅ Positives
- FY26 revenue from operations reached INR 1,049 crores, an 82% increase, coupled with a 96% rise in PAT to INR 303 crores.
- Company became net cash surplus with debt to equity decreasing from 0.55 times to 0.19 times, and ROCE at 66%, ROE at 67%.
⚠️ Concerns
- Over 80% of promoter shares are pledged against an outstanding net debt of approximately INR 92 crores under IREDA facility.
- The 2 GW project's firm timelines and funding structure are still under evaluation, with clarity expected later for the Andhra Pradesh facility.
❓ Frequently Asked Questions
What were Websol Energy System Ltd's revenue and profit for FY26?
Websol Energy System Ltd reported revenue from operations of INR 1,049 crores and profit after tax (PAT) of INR 303 crores for the financial year ended March 31, 2026.
How much revenue did Websol Energy System Ltd generate in Q4 FY26?
Websol Energy System Ltd's revenue from operations for the quarter ended March 31, 2026, was INR 401 crores.
What was Websol Energy System Ltd's profit after tax (PAT) in Q4 FY26?
Websol Energy System Ltd's profit after tax (PAT) for the quarter ended March 31, 2026, stood at INR 125 crores.
Did Websol Energy System Ltd declare a dividend for FY26?
Yes, Websol Energy System Ltd declared a dividend of INR 0.25 per share for FY26.
What was Websol Energy System Ltd's EBITDA for FY26?
Websol Energy System Ltd's EBITDA for the financial year ended March 31, 2026, was INR 429 crores.
Questions based on this BSE filing only. For information purposes.