Websol Energy Q1 FY27 Revenue Surges 70% to ₹373 Crore; Repays ₹110 Crore Loan
Websol Energy's Q1 FY27 revenue jumped 70% to ₹373 crore, with EBITDA up 21% to ₹126 crore and PAT up 16% to ₹78 crore. The company fully repaid its ₹110 crore IREDA loan, reducing promoter pledge to 16%. A TOPCon cell line upgrade costing ₹270 crore is slated for completion by March 2027. Expansion plans are being shifted to West Bengal.
The substantial revenue and profit growth, coupled with the significant debt repayment and reduction in promoter pledge, are material financial events. The strategic TOPCon upgrade and expansion plans indicate future growth potential, all of which will significantly impact the company's financial health and investor perception.
The company reported strong year-on-year growth in revenue and profits, significant operational improvements in capacity utilization, and a major positive development with the full repayment of a substantial loan, leading to a reduced promoter pledge. The strategic upgrade to TOPCon technology and the decision to expand in West Bengal, leveraging existing synergies, also contribute to a positive outlook.
Websol Energy System Limited announced its financial results for the first quarter of FY27, reporting a significant 70% year-on-year increase in revenue from operations, reaching ₹373 crore. EBITDA grew by 21% to ₹126 crore, and profit after tax increased by 16% to ₹78 crore.
The company highlighted substantial operational improvements, with cell production more than doubling to 259 megawatt (MW) and module production increasing from 50 MW to 103 MW. Cell utilization stood at 92%, and module utilization rose to 81%.
A key development was the repayment of the entire ₹110 crore outstanding loan to IREDA on August 4, 2026, using internal accruals. This repayment has led to the release of collateral, significantly reducing the promoter's share pledge from 80% to 16%.
Websol Energy is also upgrading one of its mono PERC cell lines to TOPCon technology, which will result in 750 MW of TOPCon capacity. This upgrade is expected to be completed by March 2027 with an estimated capital expenditure of approximately ₹270 crore, funded through internal accruals or potential debt financing. This upgrade is seen as a bridge to the company's planned 4-gigawatt cell manufacturing expansion.
The company has decided to establish its future expansion in West Bengal, citing synergies in infrastructure, skilled manpower, and supply chain, rather than its previously considered location in Andhra Pradesh. The company anticipates land approvals in West Bengal within the current quarter, with construction expected to commence in September 2026 and completion by mid-2027.
The order book stood at ₹1,278 crore as of June 30, 2026, providing visibility for the coming quarters.
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