Uttar Pradesh-based renewable energy company Solarworld Energy Solutions reported a revenue of ₹5.78 billion (~$62.88 million) for the third quarter (Q3) of the financial year (FY) 2026, up 184% year-over-year (YoY) from ₹2.04 billion (~$22.19 million).

The company attributed the growth to strong execution of large utility-scale solar engineering, procurement, and construction projects.

Solarworld’ revenue from operations for Q2 FY 2026 had dropped 2.8% YoY to ₹1.38 billion (~$15.58 million) from ₹1.42 billion (~$16 million).

Profitability growth, however, remained moderate in Q3 amid margin pressures. Profit after tax (PAT) increased 15% to ₹492.2 million (~$5.35 million) from ₹427 million (~$4.65 million).

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) for Q3 FY26 rose 26% YoY to ₹754.2 million (~$8.20 million) from ₹600 million (~$6.53 million).

Earnings per share for the quarter stood at ₹5.68 (~$0.062), lower than ₹5.89 (~$0.064) in Q3 FY 2025.

9M Performance

For the nine months ended December 31, 2025, Solarworld reported revenue from operations of ₹7.84 billion (~$85.29 million), compared with ₹3.68 billion (~$40.03 million) in the previous year, registering a year-on-year growth of 113%.

EBITDA increased 16% to ₹1.15 billion (~$12.51 million) from ₹992 million (~$10.79 million) in the corresponding period last year.

PAT for the period rose 6% to ₹714.2 million (~$7.77 million) from ₹676 million (~$7.35 million).

EPS declined to ₹9.09 (~$0.099) from ₹9.46 (~$0.103) in 9M FY 2025. Business Highlights

As of December 31, 2025, Solarworld’s order book stood at ₹26.22 billion (~$285.23 million), up significantly from ₹17.01 billion (~$185.04 million) the previous year.

The company had ongoing EPC projects with a cumulative capacity of 1,205 MW and ongoing battery energy storage system projects of 325 MW/650 MWh.

During the quarter, the company signed a Battery Energy Storage Purchase Agreement for a 200 MW/400 MWh BESS project valued at ₹8.06 billion (~$87.68 million) and secured an EPC order worth ₹7.25 billion (~$78.87 million) from NTPC Renewable Energy.

On the manufacturing front, Solarworld received approval for the inclusion of 1.552 GW of TOPCon solar module manufacturing capacity at its Roorkee, Uttarakhand facility in the Approved List of Models and Manufacturers.

It is also setting up a 3.4 GW lithium-ion cell-to-battery pack production line, with site readiness and equipment deliveries completed. In addition, a 5 GW junction box manufacturing line is being established through a joint venture, and work has begun on a 1.2 GW solar cell manufacturing facility at Pandhurana, Madhya Pradesh.