Solar cell and module manufacturer Websol Energy System’s revenue increased 77.2% year-over-year (YoY) to ₹2.61 billion (~$28.51 million) from ₹1.47 billion (~$16.05 million) in the third quarter (Q3) of the financial year (FY) 2026.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₹1.06 billion (~$11.58 million), up 57.6% YoY from ₹680 million (~$7.43 million).

Profit after tax (PAT) came in at ₹650 million (~$7.1 million), rising 56.3% from ₹420 million (~$4.6 million) a year ago.

Healthy operational efficiency, a prudent working capital cycle, and a comfortable risk profile contributed to Websol’s performance. The company also attributed its performance to efficient solar cell line utilization and output, commissioning of additional cell lines, and improved module line utilization.

9M FY 2026

Websol’s revenue for the first nine months (9M) of FY 2026 stood at ₹6.48 billion (~$70.8 million), a 61% YoY growth from ₹4.02 billion (~$44 million).

EBITDA for the period was ₹2.82 billion (~$30.8 million), up 62% from ₹1.74 billion (~$19 million) in the same period of the previous year.

PAT stood at ₹1.79 billion (~$19.55 million) in 9M FY 2026, rising 67.7% from ₹1.06 billion (~$11.58 million) in the same period of the previous year.

Business Highlights

Websol achieved 80% cell line utilization and a module line performance of 64%.

Its integrated cell and module manufacturing project with a capacity of 4 GW was approved by the Andhra Pradesh government. This project has a total capital expenditure of over ₹30 billion (~$327.71 million). Websol plans to install a 100 MW captive solar project to support this facility.

It plans to commission 2 GW of integrated TOPCon cell and module manufacturing capacity in Andhra Pradesh by 2027, with an expected efficiency of more than 25%.

The company recently commissioned a 600 MW cell manufacturing line valued at ₹2.03 billion (~$22.17 million) funded through internal accruals. This facility achieved a peak cell efficiency of 23.6% and an average cell efficiency of 23.35%. Its capacity utilization factor in the first three months of commissioning stood at 54%.

The company has an order book valued at ₹11.5 billion (~$125.62 million). Solar modules accounted for 57% of the total order book, and cells made up the remaining 43%.

Websol reported a 17% increase in revenue to ₹1.68 billion (~$18.9 million) in Q2 FY 2026, from ₹1.44 billion (~$16 million) in the same quarter of the previous year.