Solarworld Energy Solutions Q3 FY26: Revenue Surges 184%, PAT Up 15% on Strong Order Book
Solarworld Energy Solutions reported a 184% YoY revenue surge to ₹578.23 crore and a 15% PAT increase to ₹49.22 crore for Q3 FY26. The company's order book stands at nearly ₹2,600 crore. Significant progress includes commencing solar module manufacturing and securing a ₹800 crore BESS project. Commercial operations for the solar cell manufacturing facility are targeted for June 2027.
The substantial revenue growth, expansion into the critical BESS segment with a large order, and progress in manufacturing facilities indicate a significant positive impact on the company's future prospects and market position.
The company reported strong year-on-year growth in revenue and profit, along with significant progress in capacity expansion and strategic initiatives like the BESS project, indicating positive operational and financial performance.
Solarworld Energy Solutions Limited announced its financial results for the quarter ended December 31, 2025 (Q3 FY26), reporting a significant year-on-year revenue growth of 184%, reaching INR5,782.28 million (₹578.23 crore). Profit After Tax (PAT) increased by 15% year-on-year to INR492.19 million (₹49.22 crore), with a net margin of 8.4%. For the nine-month period ended December 31, 2025, revenue from operations grew by 113% year-on-year to INR7,843.44 million (₹784.34 crore), and total income stood at INR8,091.13 million (₹809.11 crore), an 118% increase. EBITDA for the nine-month period was INR1,146.43 million (₹114.64 crore), with a margin of 14.2%. The company's net worth was approximately INR7,991 million (₹799.1 crore) with a total debt of around INR2,553 million (₹255.3 crore), resulting in a debt-to-equity ratio of 0.32 times.
The company also provided an update on its operational progress. The executed order book as of December 31, 2025, stood at almost INR2,600 crore, comprising 7 EPC projects and 2 BESS orders. Solarworld commenced operations of its solar module manufacturing line in Roorkee and received ALMM approval for 1.552 gigawatts of annual capacity. The construction of its 1.2 gigawatt solar cell manufacturing facility is on track for commercial operations targeted by June 2027. A key strategic development is the signing of a BESPA for a 200-megawatt / 400-megawatt-hour battery energy storage system (BESS) project valued at over INR800 crore, marking the company's entry into the battery storage segment. Additionally, a junction box manufacturing line is expected to be operational by the end of March 2026 to improve cost efficiencies.
During the Q3 FY26 earnings call held on January 28, 2026, the management highlighted the strong momentum in India's solar sector, with cumulative installed solar capacity reaching approximately 136 gigawatts as of FY26. The company expressed confidence in achieving its stated targets for FY26 and emphasized the growing criticality of battery energy storage systems (BESS) in ensuring grid reliability. The management also discussed the volatile pricing in the BESS market, noting that Solarworld has strategically positioned itself to secure orders at favorable prices. The company is also exploring opportunities in green hydrogen as a future extension of its renewable energy business, but its immediate focus remains on solar EPC and BESS.
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