Websol Energy Q1FY27 Revenue up 70% to ₹373 Crore; Prepays ₹110 Crore IREDA Loan
Websol Energy reported Q1FY27 revenue of ₹373 crore, up 70% YoY. EBITDA rose 21% to ₹125.58 crore, and PAT increased 16% to ₹77.79 crore. The company prepaid its entire ₹110 crore IREDA term loan on August 4, 2026. An upgrade to TOPCon technology, expected by March 2027, will increase cell capacity to 750 MW.
The substantial revenue growth, improved operational efficiency, prepayment of a significant debt, and strategic capacity expansion plans are all material events that are likely to have a significant impact on the company's financial health and market position.
The company reported strong year-on-year growth in revenue, EBITDA, and PAT, along with significant production increases and capacity utilization. The prepayment of a substantial loan using internal accruals and the planned capacity expansion further contribute to a positive outlook.
Websol Energy System Limited announced its unaudited financial results for the quarter ended 30th June 2026, reporting a significant 70% year-on-year growth in revenue from operations to ₹372.60 crore, up from ₹218.75 crore in Q1FY26.
EBITDA for the quarter stood at ₹125.58 crore, an increase of 21% from ₹103.48 crore in the previous year, with an EBITDA margin of 34%. Profit After Tax (PAT) was ₹77.79 crore, a 16% rise from ₹67.18 crore in Q1FY26, resulting in an EPS of ₹1.79 for both basic and diluted.
Production saw substantial increases, with module production rising to 103 MW from 50 MW and cell production increasing to 259 MW from 126 MW year-on-year. Module capacity utilization reached 81% from 39%, and cell capacity utilization was sustained at 92%. The company's order book stood at ₹1,278 crore as of 30 June 2026.
A significant financial move was the prepayment of the entire outstanding term loan of ₹110 crore from IREDA on 4th August 2026, using internal accruals. This repayment is expected to lead to the release of all collateral securities, including promoter-pledged shares, with the pledged promoter shareholding reducing from 80% to 16%.
In terms of future expansion, Websol is upgrading one of its existing Mono PERC solar cell manufacturing lines to TOPCon technology. This upgrade, expected to be completed by March 2027, will increase the company's TOPCon cell capacity to 750 MW and its total solar cell manufacturing capacity to 1,350 MW. This positions the company to cater to growing demand for high-efficiency solar cells and supports its planned expansion to 4 GW of solar cell manufacturing capacity.
Commenting on the performance, Managing Director Mr. Sohan Lal Agarwal stated that Q1 FY27 started strong with a 70% revenue increase and high capacity utilization. He explained the lower margins were due to selling more modules, which have lower margins than cells, emphasizing the company's preference for running the full asset base. He also highlighted the successful prepayment of the IREDA loan from business-generated cash without impacting investment plans.
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