Websol Energy Q2 profit rises 73% to INR 80 crore as revenue doubles

Websol Energy System reported a 73.2% year-on-year increase in profit after tax for the second quarter of FY27, reaching INR 80.21 crore, according to financial data reported by pv magazine India. The company’s revenue for the same period more than doubled, rising 115% to INR 361 crore from INR 168.22 crore in the corresponding quarter of the previous fiscal year.

EBITDA climbed 77.3% to INR 128.14 crore, up from INR 72.29 crore in Q2 FY26.

Operational Performance

Websol Energy System produced 255 MW of solar cells in the second quarter of FY27, operating at a 91% capacity utilization rate. During the same period, the company manufactured 88 MW of modules, achieving a 68% capacity utilization.

Expansion and Strategy

As of September 30, 2026, Websol Energy System reported an order book valued at INR 1,280 crore. The firm settled a term loan owed to IREDA within the quarter.

The group obtained a 54.20-acre land allotment from the Government of West Bengal at the Falta Industrial Park. Websol intends to construct a new solar cell manufacturing site on this property, designed for a total output of 4 GW. Construction will proceed in two separate stages, with each phase contributing 2 GW to the overall manufacturing capacity.

Current Capacity and Technology

• Websol’s solar cell manufacturing capacity stands at 1,200 MW, located at the Falta Special Economic Zone.
• The company’s module production capacity is 550 MW, also situated at the Falta Special Economic Zone.
• Production utilizes mono PERC technology, processing wafers with dimensions up to 210 mm.
• Solar cells are supplied primarily to the domestic market to meet Domestic Content Requirement norms.
• Modules are marketed in India and internationally.

Management Commentary

Websol Managing Director Sohan Lal Agarwal characterized the second quarter of FY27 as a notably successful period for the organization. He highlighted that the transition to TOPCon technology is underway, with trial operations scheduled to commence by the close of the fiscal year. Agarwal said, "We believe these initiatives will open new growth opportunities and strengthen Websol’s position in India’s renewable energy sector."

In a distinct strategic development, the board of directors sanctioned the company’s entry into additional business areas, specifically Engineering, Procurement, and Construction (EPC), Solar Independent Power Producer (IPP) operations, solar parks, and energy trading.

Regulatory Context for Domestic Cell Supply

The Ministry of New and Renewable Energy (MNRE) released the Approved Models and Manufacturers of Solar Photovoltaic Modules (Requirements for Compulsory Registration) Order on 2 January 2019. Within this structure, List-II rules concerning cells become effective on 1 June 2026, including a particular period for net-metering and open-access installations approved by 31 December 2026. List-III standards for ingots and wafers start applying from 1 June 2028. Rooftop systems seeking the PM Surya Ghar grant must use modules produced in India utilizing Indian cells.