Websol Energy Reports 70% Revenue Growth in Q1FY27; Prepays Entire IREDA Term Loan

Websol Energy Reports 70% Revenue Growth in Q1FY27; Prepays Entire IREDA Term Loan​

Websol Energy System Limited, a prominent manufacturer of high-efficiency solar cells and solar modules in India, has announced its unaudited financial results for the quarter ended June 30, 2026. The Company reported significant revenue growth while successfully prepaying its entire outstanding term loan from IREDA.

For Q1FY27, Websol recorded revenue from operations of Rs 372.60 crore, marking a 70% increase compared to the Rs 218.75 crore reported in Q1FY26. EBITDA for the quarter stood at Rs 125.58 crore, an increase of 21% from the previous year's Rs 103.48 crore. The company’s profit after tax (PAT) was Rs 77.79 crore, up 16% from Rs 67.18 crore.

The financial highlights for Q1FY27 are detailed below:

Operational and Financial Milestones​

Operations saw substantial increases in production capacity during the quarter. Module production increased to 103 MW, up from 50 MW a year earlier, boosting module capacity utilization to 81%. Cell production reached 259 MW in Q1FY27, an increase from 126 MW in Q1FY26. The management noted that the higher module offtake indicates both lines are operating near their planned run-rate.

The order book for the company stood at Rs 1,278 crore as of June 30, 2026.

In a major financial development, Websol prepaid its entire outstanding term loan of Rs 110 crore from the Indian Renewable Energy Development Agency Limited (IREDA) on August 4, 2026. The prepayment was achieved through internal accruals and did not require raising fresh capital, thereby safeguarding ongoing growth plans.

Following the repayment, all collateral securities provided against the facility are expected to be released. This action has resulted in a reduction of pledged promoter shareholding from 80% to 16%.

Technology Upgradation and Future Expansion​

Websol has initiated an upgradation project on one of its existing Mono PERC solar cell manufacturing lines, transitioning it to TOPCon technology. Upon completion of this upgrade, the company’s total TOPCon cell capacity is set to rise to 750 MW. Furthermore, overall solar cell manufacturing capacity will expand from 1,200 MW to 1,350 MW.

This technological advancement is expected to be completed by March 2027 and will support the company's long-term expansion goal of achieving 4 GW of solar cell manufacturing capacity across two planned phases. This upgrade means TOPCon technology will account for approximately 55% of the total cell manufacturing capacity.

Sohan Lal Agarwal, Managing Director, commented on the performance, stating that Q1 started FY27 successfully. He noted that while margins were lower compared to the previous year, this was due to selling considerably more modules this quarter—a market choice made by the company in favor of running its full asset base rather than restricting volume to protect a margin number.

Regarding the debt management, Agarwal added that the prepayment of the IREDA term loan was a planned objective, achieved through business-generated cash without raising capital or slowing investment plans.

WEBELSOLAR Stock Price Movement​

On Monday, shares of Websol Energy System Limited slipped 1.44% to settle at ₹94.49 after shedding ₹1.39 from the previous close. The stock saw a trading volume of 2.17 million shares during the session.