Websol Energy System Limited · NSE:WEBELSOLAR
Websol Energy System — Non-Deal Roadshow (December 2025)
26 slides from Websol Energy System's roadshow presentation, Dec 3, 2025
Slide 1: Exchange filing cover letter for non-deal roadshow
Date: 3rd December, 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: Investor Presentation
Investor Presentation Websol Energy System Limited BSE: 517498 NSE: WEBELSOLAR
Slide 3: Websol Panelists
Websol Panelists Mr. Sohan Lal Agarwal Ms. Sanjana Khaitan Mrs Vasanthi Sreeram Mr. Amrit Daga Managing Director Executive Director Chief Technology Officer Chief Financial Officer 2
Slide 4: Key Highlights
Key Highlights 30+ Years of Solar Legacy Technology Excellence & Efficiency Focus Capacity Expansion Blueprint Experienced leadership team with deep solar Achieved 23.6%+ efficiency in current Mono manufacturing expertise, driving legacy and Current Operational Capacity - 1.2 GW Mono Perc Cell & 550
Slide 5: Agenda
21 Company Overview 32 Industry Outlook 43 Business Update 54 Strategic Roadmap 65 Financial Performance
Slide 6: Pioneering Solar Excellence / Key Management
Pioneering Solar Excellence Leading manufacturer of Solar PV Cells & Modules; Listed on both NSE and BSE since 1990s Started operations in 1994 as one of the earliest manufacturers of Solar PV Cells in India; Initial installed capacity was 1 MW Overview Incorporated as a JV with WEBEL and in technic
Slide 7: Board of Directors
Board of Directors Mr Sohan Lal Agarwal Ms Sanjana Khaitan Dr Rajeewa R Arya Managing Director Executive Director Non Executive Director A commerce graduate from SRCC and finance A MSc graduate from Jadavpur University, Over four decades of leadership in India’s postgraduate from the University of C
Slide 8: Three Decades of Powering the Journey from Sun to Energy
Three Decades of Powering the Journey from Sun to Energy 1990 2009 2018 2025 Incorporated and listed on NSE and Capacity enhanced to 60 MW; Capacity increased to 250 MW; Additional 600 MW Mono-PERC cell BSE State-of-the-art facility installed in Major technological advancement commissioned; Average
Slide 9: State-of-the-art Integrated Manufacturing Facility in West Bengal
State of the artIntegrated State-of-the-art Integrated Manufacturing Manufacturing Facility Facility inBengal in West West Bengal West Bengal, India – 1 Unit, ~7 Acres Location Integrated Cell & Module manufacturing facility in Falta SEZ, West Bengal Kolkata Uniqueness Airport Only Solar Cell manufa
Slide 10: Industry Outlook
21 Company Overview 32 Industry Outlook 43 Business Update 54 Strategic Roadmap 65 Financial Performance
Slide 11: ALMM Boosts Domestic Cell Demand
ALMM Boosts Domestic Cell Demand ~20 GW Additional projected ALMM Cell demand in FY27 DCR Cell Manufacturing Gap — Strategic Opportunity Supply Gap In Policy Mandates India’s DCR Solar Make Backward Cells Despite >100 Integration GW Module Essential For Solar ~20 GW ~40+ GW Capacity Manufacturing FY
Slide 12: Domestic Policy Support on Both Supply and Demand Front
Domestic Policy Support on Both Supply and Demand Front Policy Enablers (Demand) ALMM RPO PM Surya Ghar/ PM OA / Net Metering KUSUM Mandates use of domestic Ensures long-term solar Boosts mass retail adoption Drives C&I demand modules/cells demand Policy Enablers (Supply) PLI Import duties ALMM expa
Slide 13: Business Update
21 Company Overview 32 Industry Outlook 43 Business Update 54 Strategic Roadmap 65 Financial Performance
Slide 14: Phase II 600 MW Cell Line Update
Phase II 600 MW Cell Line Update 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 Efficiency Achieved 23.6% maximu
Slide 15: High Capacity Utilization and Diversified Client Base
High Capacity Utilization and Diversified Client Base Effective Capacity Utilization Major Client Base 95% 90% 83%* 51% Cell Q1 Q2 Oct & Nov-25 Unit-1 Unit-2 Module CUF improved as the new cell line increased in-house cell availability, easing earlier constraints from external cell commitments 66% M
Slide 16: Strategic Roadmap
21 Company Overview 32 Industry Outlook 43 Business Update 54 Strategic Roadmap 45 Financial Performance
Slide 17: 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 I Phase II Phase III: Phase III Phase IV: Phase IV Focus on Capability Capacity Upgrade Greenfield E
Slide 18: Phase III & IV Progress
Phase III & IV Progress Project Status MoU signed Land due diligence ongoing Advance discussion with technology partners Experienced professionals hired as core project team ✓ Strengthens India’s domestic solar manufacturing ecosystem Strategic Importance Project Details ✓ Reduces dependence on Chin
Slide 19: Backward Integration: Future Vision Framework and Technology Initiatives
Future Vision Framework and Technology Initiatives Partnership • MoU signed with Linton to evaluate Ingot–Wafer facility setup Integration Backward Integration • Enables full backward integration across the solar value chain Supply Security • Strengthens supply security & ensures future ALMM complia
Slide 20: Financial Performance
21 Company Overview 32 Industry Outlook 43 Business Update 54 Strategic Roadmap 45 Financial Performance
Slide 21: Strong Growth and Profitability
Strong Growth and Profitability Rs. Cr Revenue from Operations EBITDA** and Margin Profit after Tax and Margin 28.9% 45.4% 25.4% 41.8% 51.7% 64.8% 74.9% 575 253 155 176 114 387 255 107 65 FY25 H1FY25 H1FY26 FY25 H1FY25 H1FY26 FY25 H1FY25 H1FY26 **Excludes Other Income
Slide 22: Robust Capital Efficiency
Robust Capital Efficiency Cash Flow from Operations (Rs. Cr) Debt/ Equity Ratio Return on Equity (%)* Strong Cash Flow to support expansions Improved ratio owing to increased profitability Strong ROE maintained 167 1.70 80.22 132 87.62 67.81 90 0.84 0.55 35 0.37 (80.91) FY24 FY25 H1FY25 H1FY26 FY24
Slide 23: 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 24: 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 Financ
Slide 25: 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 26: 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
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