Uttar Pradesh-based renewable energy company Solarworld Energy Solutions’ revenue from operations for the second quarter (Q2) of the financial year (FY) 2026 fell 2.8% year-over-year (YoY) to ₹1.38 billion (~$15.58 million) from ₹1.42 billion (~$16 million).

The dip in revenue was attributed to a ₹67.32 million (~$760,157) loss from the manufacturing segment.

Net profit fell 58% YoY to ₹92.9 million (~$1.04 million) from ₹222.69 million (~$2.5 million).

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped 48.6% YoY to ₹1.52 billion (~$17 million) from ₹2.96 billion (~$33 million).

Earnings per share came in at ₹1.24 (~$0.014) compared to ₹3.14 (~$0.035) during the same period the preceding year.

1H Results

In the first half of FY 2026, the company reported a 25% YoY rise in revenue to ₹2.06 billion (~$23 million) from ₹1.65 billion (~$18.6 million).

Net profit dropped by 10.9% to ₹222.01 million (2.5 million) from ₹249.22 million (~$2.8 million) during the same period last year.

Earnings per share came in at ₹2.98(~$0.033) compared to ₹3.54(~$0.039) during the same period the preceding year.

Business Highlights

Solarworld has a portfolio exceeding 1 GW of renewable energy projects.

It has a 1.8 GW solar module manufacturing facility in Roorkee, manufacturing monocrystalline, bifacial, and N-Type TOPCon solar modules.

The company’s services include engineering, procurement, and construction of ground-mounted projects, rooftop installations, and independent power producer and battery energy storage system (BESS) projects. It also offers services in asset management.

In October, the company debuted on the stock exchanges after its ₹6 billion (~$71.6 million) initial public offering was oversubscribed 65 times.

In the same month, the company signed a binding term sheet for the execution of engineering, procurement, and construction of 200 MW ground-mount solar projects. The projects were won at a contract value of ₹8.03 billion (~$90.6 million). In April this year, Solarworld Energy Solutions was one of the winners of Gujarat Urja Vikas Nigam’s auction to set up a 500 MW/1,000 MWh standalone BESS under tariff-based competitive bidding (Phase VI). Solar World won 200 MW at a tariff of ₹280,000 (~$3,288.31)/MW/month.

It also has a 125MW/250 MWh BESS project in Kota, Rajasthan, under construction.

In Q1 of FY 2026, the company‘s total income rose 241.8% YoY to ₹805.5 million (~$9.16 million) from ₹235.7 million (~$2.68 million).