Websol Energy System Limited · NSE:WEBELSOLAR
Websol Energy System — Q2 FY26 Earnings Presentation
19 slides from Websol Energy System's earnings presentation, Nov 4, 2025
Slide 1: Covering letter to stock exchanges: Investors Presentation
Date: 4th November, 2025 To, To, The Manager Listing, The Manager Listing, National Stock Exchange of India Limited BSE Limited Exchange Plaza, Floor 25, Bandra Kurla Complex, PJ Towers, Dalal Street, Bandra (E) Mumbai: 400051 Mumbai: 400 001 Scrip Code- WEBELSOLAR Scrip Code- 517498 WEBSOL ENERGY S
Slide 2: Earnings Presentation Q2FY26
Earnings Presentation Q2FY26 Websol Energy System Limited BSE: 517498 NSE: WEBELSOLAR
Slide 3: Key Highlights – Q2FY26
Key Highlights – Q2FY26 INR 168 Cr INR 72 Cr INR 46 Cr KEYKey METRIC Metric Revenue EBITDA PAT 17.2% 15.4% 10.3% GROWTH Growth YoY YoY YoY 67.3% 43.0% 27.0% Margins Gross Margin EBITDA Margin PAT Margin CAPITAL CapitalBASE Base 34.5% 33.9% 75.2% (H1FY26) (H1FY26) ROCE ROE Cash Conversion Impact on Q
Slide 4: Industry Overview, Business Update, Financial Performance
12 Industry Overview 23 Business Update 34 Financial Performance
Slide 5: Global Solar Outlook
Global Solar Outlook Solar to anchor 11 TW global renewable milestone by 2030 Solar’s Breakneck Growth: 70 Years to 1 TW, 2 Years to ~2 TW Solar PV Other RE 26% CAGR 11 (CY20-CY30E) 7,000 3.9 65% 4.8 2.6 7.1 1,865 46% 1,419 849 1,053 714 2.2 2024 2030 CY20 CY21 CY22 CY23 CY24 CY30E Solar enters an e
Slide 6: India's Solar Growth Trajectory
India’s Solar Growth Trajectory Domestic Installed Solar Capacity (GW) Solar Yearly Installations (GW) FY25 Cumulative Solar Installed FY25 Total Installations by States (GW) 22 127 Off-grid / KUSUM Hybrid Solar (GW), 2.9 (GW), 4.7 24 PM Surya Ghar / 0.1 Rooftop (GW), 17.0 15 0.2 13 1.4 0.6 13 FY 25
Slide 7: Domestic Policy Boost
Domestic Policy Boost Policy Description Timeline ALMM-II Enforcement for Domestic Solar Cells MNRE mandates use of India-made solar cells Implementation scheduled FY26 ALMM-III for Ingot–Wafer Manufacturing New ALMM phase to cover ingot & wafer Expected by June 2028 DGTR recommends up to 30% duty o
Slide 8: Industry Overview, Business Update, Financial Performance
12 Industry Overview 23 Business Update 34 Financial Performance
Slide 9: Company Snapshot
Company Snapshot Legacy • Incorporated in 1990 — one of India’s earliest integrated solar manufacturers with a 30+ year operating track record Scale • 1.2 GW cell and 550 MW module capacity — commissioned in record time Technology • State-of-the-art facility supported by automated lines producing hi
Slide 10: Phase II 600 MW Cell Line Commissioned
Phase II 600 MW Cell Line Commissioned Phase II Commissioning 600 MW Mono-PERC solar cell line successfully commissioned on 27th Sep 2025 Self-Funded Expansion Project fully funded through internal accruals Record Time Execution Phase II commissioned in less than 12 months Performance Efficiency Ach
Slide 11: Websol's Expansion Blueprint
Websol’s Expansion Blueprint Solar Cell and Module Capacity (MW) ~50%+ CAGR Solar Cell (CY24-CY28E) 5,200 Solar Module 4,550 3,200 2,550 1200 1200 1200 600 550 550 550 550 CY24 CY25 CY27E CY28E Phase Phase I I Phase Phase IIII Phase III Phase III: Phase IV Phase IV: Focus on Capability Capacity Upgr
Slide 12: Industry Overview, Business Update, Financial Performance
12 Industry Overview 23 Business Update 34 Financial Performance
Slide 13: Q2FY26 Financial Performance
Q2FY26 Financial Performance Rs. Cr Revenue from Operations EBITDA** and Margin Profit after Tax and Margin 30.4% 47.3% 29.2% 45.4% 28.2% 27.7% 45.8% 43.0% 27.0% 43.7% 17.2% 15.4% 10.3% 219 103 67 173 168* 72 144 147 78 48 46 63 68 42 42 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2FY25 Q3FY25 Q4FY25 Q1FY26
Slide 14: H1FY26 Financial Performance
H1FY26 Financial Performance Rs. Cr Revenue from Operations EBITDA* and Margin Profit after Tax and Margin 45.4% 28.9% 41.8% 25.4% 51.7% 64.8% 74.9% 387 176 114 255 107 65 H1FY25 H1FY26 H1FY25 H1FY26 H1FY25 H1FY26 *Excludes Other Income
Slide 15: Capital Efficiency
Capital Efficiency Cash Flow from Operations (Rs. Cr) Debt/Equity Ratio Strong Cash Flow generation of Rs. 132 Cr in H1FY26 to support expansion initiatives 377.8% 46.3% 1.70 167 132 Significant improvement in Debt/Equity to 0.37x in 90 0.84 H1FY26 from 0.84x in H1FY25 0.55 35 0.37 FY24 FY25 H1FY25
Slide 16: Profit and Loss Statement
Profit and Loss Statement Rs. Cr Particulars Q2FY26 Q2FY25 Y-o-Y (%) Q1FY26 Q-o-Q (%) H1FY26 H1FY25 Y-o-Y (%) Revenue from Operations 168 144 17.2% 219 (23.1)% 387 255 51.7% Other Income 3 0.3 nm 2 50.5% 5 1 nm Total Income 172 144 19.2% 221 (22.4)% 392 256 53.5% Cost of Material Consumed 63 46 37.2
Slide 17: Balance Sheet
Balance Sheet Rs. Cr Rs. Cr Equity and Liabilities H1FY26 FY25 Assets H1FY26 FY25 Equity Share Capital 42 42 Property, plant and equipment 468 283 Other Equity 349 236 Right of Use assets 13 1 Total Equity 391 278 Capital work-in-progress 8 17 Financial Liabilities Other Intangible assets 1 1 Borrow
Slide 18: Cash Flow Statement
Cash Flow Statement Rs. Cr Particulars H1FY26 H1FY25 Cash Flow from Operating Activities Profit before Tax 151 80 Adjustment for Non-Operating Items 26 27 Operating Profit before Working Capital Changes 177 107 Changes in Working Capital (40) (17) Cash Generated from Operations 137 90 Less: Direct T
Slide 19: Disclaimer
Disclaimer This presentation, provided by Websol Energy System Ltd., is intended for informational purposes only and is not an offer, invitation, or inducement to sell or issue Balance securities. It isSheet not intended to be a prospectus under any jurisdiction's laws. The information contained her