Websol Energy System (BSE: 517498) reported a 73.2% year-on-year increase in profit after tax (PAT) to Rs 80.21 crore for the September quarter of FY27. Revenue from operations grew 114.6% YoY to Rs 361.02 crore, driven by high capacity utilization and a strategic shift toward integrated solar energy solutions and capacity expansion in West Bengal.
The quarterly results, announced on 4 November 2026, show the company has changed its operational scale. While the company achieved substantial year-on-year growth, saurenergy.com noted that revenue from operations saw a marginal quarter-on-quarter decline from Rs 372.60 crore in Q1FY27 to Rs 361.02 crore in Q2FY27.
Websol Energy Q2FY27 Financial Performance Summary
- Profitability Surge: PAT rose to Rs 80.21 crore, up from Rs 46.32 crore in the same period last year.
- Debt Reduction: The company reached a debt-free position by repaying its entire IREDA term loan using internal accruals.
- Order Backlog: As of September 30, 2026, the outstanding order book reached Rs 1,280 crore.
Revenue Expansion and Margin Dynamics in Q2FY27
The most striking metric in the filing was the revenue growth. According to reports from economictimes.indiatimes.com, revenue from operations more than doubled to Rs 361.02 crore compared to Rs 168.22 crore in Q2FY26. This top-line expansion was accompanied by an EBITDA increase of 77.3% YoY, reaching Rs 128.14 crore from Rs 72.29 crore in the year-ago quarter.
During the quarter, cell production reached 255 MW with a 91% capacity utilization rate. Module production stood at 88 MW, utilizing 68% of available capacity.
Websol Energy (@EnergyWebsol ) FY27 – Revenue ₹361 Cr, up 115% YoY – PAT ₹80 Cr, up 73% – Debt-free, net cash ₹165 Cr But the YoY growth flatters. Last year’s Q2 had a plant shutdown. QoQ revenue: ₹401 Cr → ₹373 Cr → ₹361 Cr. Profit is flat at ₹78–80 Cr. Why? -… pic.twitter.com/0471UmMQQO
| Financial Metric (INR Crore) | Q2FY26 (YoY) | Q2FY27 (Current) | YoY Change (%) |
|---|---|---|---|
| Revenue from Operations | 168.22 | 361.02 | +114.6% |
| EBITDA | 72.29 | 128.14 | +77.3% |
| Profit After Tax (PAT) | 46.32 | 80.21 | +73.2% |
Websol Repays IREDA Loan Using Internal Accruals
Websol successfully repaid its outstanding IREDA term loan during the quarter. As reported by websolenergy.com, this repayment was funded entirely through internal accruals without raising fresh capital. This move released the pledge on promoter shares, which currently stand at a holding of 29.72%.
The elimination of this debt obligation improves financial flexibility.
Falta Land Allotment and the 4 GW Expansion Plan
Websol is transitioning from a component manufacturer to an integrated energy player. The company secured a 54.20-acre land allotment from the West Bengal government at Falta Industrial Park. This site is intended for a new greenfield solar cell manufacturing facility located near the existing Falta SEZ operations.
The scale of this expansion is significant. The new facility is designed to add 4 GW of solar cell manufacturing capacity, to be executed in two distinct phases of 2 GW each. This move is intended to solidify Websol’s presence in Eastern India and align with national clean energy targets. To support this broader ecosystem, the board has approved several new business verticals:
- Engineering, Procurement, and Construction (EPC): Entering the direct installation and project management market.
- Solar Independent Power Producer (IPP): Developing solar parks and managing energy generation.
- Energy Trading: The board approved a 40% equity subscription in Bright Earth Cell Private Limited to spearhead this new division.
Technological Upgrades and the Path to TOPCon Integration
While existing plants utilize Mono PERC technology, management is focused on the upcoming TOPCon upgrade. Sohan Lal Agarwal, Managing Director, stated that trial runs for the TOPCon technology are targeted for completion by the end of FY27.
The ability to transition to TOPCon while managing a 4 GW expansion and entering the EPC sector will test the company’s operational execution capabilities.
The central question for investors remains whether the current order book of Rs 1,280 crore can be converted into revenue quickly enough to offset the expansion at Falta and the TOPCon technology shift.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.
