Websol Energy System

Websol Energy delivered a record Q4 with revenue of ₹401 croreCurrent reported value: ₹401 crore. No comparable prior figure is available in the source record. (up 132Current reported value: 132. No comparable prior figure is available in the source record.% YoY) and PAT of ₹125 croreCurrent reported value: ₹125 crore. No comparable prior figure is available in the source record. (up 158Current reported value: 158. No comparable prior figure is available in the source record.% YoY), driven by strong cell utilization above 90%Current 90%. Reported change: +10pp YoY. and the commissioning of a second cell line that doubled capacity to 1.2 GW. The company ended FY26 with a net cash surplus, debt-to-equity of 0.19x, and an order book of ₹1,161 croreCurrent ₹1,161 crore. Reported change: +55% QoQ. (book-to-bill 1.02x). Management guided for a topcon upgrade of one line (capex ₹250-270 crore) targeting commercial production by Feb 2027, with cell efficiency exceeding 24.5%Current 24.5%. Reported change: +1.2pp vs current.. The 2 GW integrated facility in Andhra Pradesh remains on track for June 2027. Key risk: potential margin compression from rising silver costs and increased module mix, which structurally carry lower margins than cell sales.