Earnings Update
Websol Energy Q4FY26 Revenue Surges 132% YoY to ₹401 Cr; PAT Jumps 158%
NSE
webelsolar
BSE
517498
Websol Energy System Ltd reported a strong Q4FY26 performance with 132% YoY revenue growth and 158% YoY PAT growth, driven by capacity expansion, improved utilization, and operating efficiency
PRICE-SENSITIVE TRIGGER
Event: Q4 & FY26 Financial Results Announcement
Type: Earnings Update
Impact: Positive
Immediate Effect: Signals strong earning momentum and improved profitability
Key Metrics:
- Q4 Revenue: ₹401 Cr (↑132.1% YoY)
- Q4 PAT: ₹125 Cr (↑157.9% YoY)
- FY26 Revenue: ₹1,049 Cr (↑82.4% YoY)
- FY26 PAT: ₹303 Cr (↑95.8% YoY)
- Q4 EBITDA Margin: 36.4%
- FY26 EBITDA Margin: 40.8%
Highlight:
- PAT growth of ~158% YoY in Q4FY26
What Happened ?
Websol Energy announced robust quarterly and annual financial results, supported by:
- Capacity ramp-up (Cell Line-2 commissioning)
- Strong operating leverage
- Improved cost discipline and utilization
key highlights
Quarterly Performance (Q4FY26):
- Revenue: ₹401 Cr vs ₹173 Cr YoY
- EBITDA: ₹146 Cr vs ₹78 Cr YoY
- PAT: ₹125 Cr vs ₹48 Cr YoY
- EPS: ₹2.8 vs ₹1.1 YoY
Full-Year Performance (FY26):
- Revenue: ₹1,049 Cr vs ₹575 Cr YoY
- EBITDA: ₹429 Cr vs ₹253 Cr YoY
- PAT: ₹303 Cr vs ₹155 Cr YoY
- EPS: ₹7.0 vs ₹3.7 YoY
Operational Highlights:
- Cell Line-2 successfully commissioned
- Cell capacity to increase to 1.35 GW
- Capacity utilization:
- Cells: >90%
- Modules: ~74%
- Net cash position achieved:
- Cash: ₹152 Cr
- Debt: ₹118 Cr
- Strong order book: ₹1,161 Cr
Strategic Developments:
- Upgrade of Mono PERC line to Topcon technology
- Progress toward 2 GW integrated facility
- Focus on backward integration
Note:
- Clear transition from expansion phase → scale + efficiency phase
Risk Analysis
Key Risks
- EBITDA margin compression (YoY decline in Q4)
- Solar industry pricing volatility
- Dependence on policy support (PLI, ALMM)
- Execution risk in capacity expansion
Worst Case Scenario
- Sharp decline in module pricing impacts margins despite volume growth
Risk Level: Medium
Company Commentary
- FY26 marked a landmark year with commissioning of Cell Line-2
- Capacity expansion strengthens core business and future growth
- Upgrade to Topcon technology to enhance efficiency
- Focus on working capital discipline and cost optimization
- Strong revenue, profitability, and cash flow performance achieved
- Positioned to benefit from strong solar sector tailwinds
Official Exchange Filing: Websol Energy System Ltd