Websol Energy System Limited · NSE:WEBELSOLAR
Websol Energy System — FY2026 Earnings Presentation
27 slides from Websol Energy System's earnings presentation, Apr 28, 2026
Slide 1: Exchange filing cover letter: Investors Presentation
Date: 28th April, 2026 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 SYS
Slide 2: Earnings Presentation FY26 & Q4FY26
Earnings Presentation FY26 & Q4FY26 Websol Energy System Limited BSE: 517498 NSE: WEBELSOLAR
Slide 3: Key Highlights – Q4FY26
Key Highlights – Q4FY26 Rs 401 Cr Rs 146 Cr Rs 125 Cr KEYKey METRIC Metric Revenue EBITDA PAT 132.1% 86.4% 157.9% Y-o-Y Y-o-Y Y-o-Y Growth 53.8% 37.4% 91.6% Q-o-Q Q-o-Q Q-o-Q Margins 52.7% 36.4% 30.8% Gross Margin EBITDA Margin PAT Margin
Slide 4: Key Highlights – FY26
Key Highlights – FY26 Rs. (34) Crore Rs. 1,049 Crore Rs. 429 Crore Rs. 303 Crore Net Debt Revenue EBITDA PAT 82.4% 69.6% 0.19x 95.8% Debt / Equity Rs. 255 Crore 65.7% 6.98x Rs. 631 Crore Cash Flow from ROCE Earning Per Share Net Worth Operations 90.4% 126.8% 66.7% 52.7% ROE
Slide 5: A Year of Returning to Power
A Year of Returning to Power High Capacity Doubled Cell Technology Upgrade Balance Sheet Credit Rating Utilization and Capacity to ~1.2 GW Pathway Initiated Strengthening Assigned Efficiency ` ` ` ` ` Solar Cell: > 90% Second cell line Adoption of Topcon Networth increased from CRISIL BBB+ stable ra
Slide 6: Company Overview, Industry Outlook, Business Update, Financial Performance
21 Company Overview 32 Industry Outlook 43 Business Update 54 Financial Performance
Slide 7: Three Decades of Powering the Journey from Sun to Energy
Three Decades of Powering the Journey from Sun to Energy 1994 2018 2025 2028 Started production with a 1 MW Capacity increased to 250 MW; Additional 600 MW Mono-PERC Additional 2 GW Topcon capacity using reclaimed Major technological cell line commissioned; Average integrated cell & module line, sem
Slide 8: Key Highlights
Key Highlights Unmatched Legacy Operating Agility Demonstrated High Efficiency and Utilization Pioneer of solar manufacturing in India with Second cell production line commissioned 1.2 GW Mono PERC cell operating at 90%+ a 30+ year legacy — deep institutional in under 12 months (September 2025) — ut
Slide 9: Our Leadership
Our Leadership Mr. Sohan Lal Agarwal Ms. Sanjana Khaitan Mrs. Vasanthi Sreeram Mr. Paritosh Jain Mr. Amrit Daga Managing Director Executive Director Chief Technical Officer Technical Advisor Chief Financial Officer Pioneer of solar Cambridge graduate 3 decades of experience Scientist with extensive
Slide 10: Company Overview, Industry Outlook, Business Update, Financial Performance
21 Company Overview 32 Industry Outlook 43 Business Update 54 Financial Performance
Slide 11: India's Energy Opportunity: Low Per Capita Consumption & Surging Demand Ahead
India's Energy Opportunity: Low Per Capita Consumption & Surging Demand Ahead Per Capita Electricity Consumption — 2025 (Kwh/Person) India Peak Demand Forecast (GW) India 1,399 kWh Peak Demand 37% of World Avg 242 GW (FY26) → 366 GW (FY32E) | ~51% spike in peak demand expected by 2032 366 Norway 28,
Slide 12: Solar Powering India's Renewable Transition
Solar Powering India’s Renewable Transition Key Milestones 2010 2015 2021 2025 2030+ 50% non-fossil target by 2030 — Achieved 5 Years Early! JNNSM Revised to COP26: 500 GW 50% Non-Fossil 500 GW Non- Next: 500 GW non-fossil capacity & 22 GW Target 100 GW Solar Non-Fossil by Fossil 50%+ 509 GW 133 GW
Slide 13: ALMM: Building India's Integrated Solar Manufacturing Ecosystem
ALMM: Building India's Integrated Solar Manufacturing Ecosystem ALMM List I — Solar PV Modules ALMM List II — Solar PV Cells List III — Ingot-Wafer DCR mandatory for Govt-funded projects ALMM List-II cells mandatory: Jun 2026 ALMM List-III: Effective from Jun 2028 ~173 GW ~31 GW Jun’28 ALMM-Enlisted
Slide 14: Company Overview, Industry Outlook, Business Update, Financial Performance
21 Company Overview 32 Industry Outlook 43 Business Update 54 Financial Performance
Slide 15: High Capacity Utilization and Efficiency
High Capacity Utilization and Efficiency Production Cell (MW) Production Module (MW) 87% 90% 83% 92% 75% 64% 74% 39% 30% 20% 95.1 258.4 81.9 211.1 50.1 121.2 126.3 116.2 37.8 13.0 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Capacity Utilisation Capacity Utilisation ✓ Quick
Slide 16: Robust Order Book
Robust Order Book Rs. 1,150 Cr Rs. 1,161 Cr Order Book Order Book Opening Q3 FY26 Closing Q4 FY26 Order Book Movement — Q4FY26 (Rs. Cr) Order Book Mix — By Product 1,150 412 1,161 40% Rs. 1,161 Cr (401) Order Book 60% Solar Cells Solar Modules Order Book Sales New Order Book Order Book 40% | Rs.466
Slide 17: New Projects Pipeline Focus
New Projects Pipeline Focus 4 GW Integrated Cell and Module Topcon Upgrade Ingot Wafer Facility Facility in Phases Brownfield Expansion Greenfield Project Greenfield Expansion Upgrading 600 MW Mono-PERC line Integrated capacity to come up in Partnership with Linton for equipment to Topcon at existin
Slide 18: Company Overview, Industry Outlook, Business Update, Financial Performance
21 Company Overview 32 Industry Outlook 43 Business Update 54 Financial Performance
Slide 19: FY26 - Delivering Growth with Profitability
FY26 - Delivering Growth with Profitability Rs. Cr Revenue from Operations EBITDA* and Margin Profit after Tax and Margin 43.9% 82.4% 40.8% 28.6% 26.8% 1,049 69.6% 95.8% 429 575 253 303** 155 FY25 FY26 FY25 FY26 FY25 FY26 *Excludes Other Income ** During the quarter, the Company gave effect to the a
Slide 20: Quarterly Financial Performance
Quarterly Financial Performance Rs. Cr Revenue from Operations EBITDA** and Margin Profit after Tax and Margin 30.4% 30.8% 45.4% 47.3% 27.7% 27.0% 43.0% 40.8% 36.4% 24.8% 132.1% 86.4% 157.9% 401 146 125# 103 106 261 219 78 72 67 65 173 168* 48 46 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q4FY25 Q1FY26 Q2FY
Slide 21: Capital Efficiency (1/2)
Capital Efficiency (1/2) Debt / Equity (x) Interest Coverage Ratio (x) 1.70 22.95 10.99 0.55 0.19 (9.19) FY24 FY25 FY26 FY24 FY25 FY26 Long Term Debt/ Fixed Assets (x) Net Debt (Rs. Cr) 0.60 183 0.43 65 0.19 (34) FY24 FY25 FY26 FY24 FY25 FY26
Slide 22: Capital Efficiency (2/2)
Capital Efficiency (2/2) Return On Capital Employed (%) Return on Equity (%) 65.7 80.2 50.3 66.7 (15.8) (80.9) FY24 FY25 FY26 FY24 FY25 FY26 Net Worth (Rs. Cr) Cash Flow from Operations (Rs. Cr) 631 255 278 167 108 35 FY24 FY25 FY26 FY24 FY25 FY26
Slide 23: Profit and Loss Statement
Profit and Loss Statement Rs. Cr Particulars Q4FY26 Q4FY25 Y-o-Y (%) Q3FY26 Q-o-Q (%) FY26 FY25 Y-o-Y (%) Revenue from Operations 401 173 132.1% 261 53.8% 1,049 575 82.4% Other Income 3 1 nm 1 nm 10 2 nm Total Income 404 174 132.3% 262 54.1% 1,059 577 83.5% Cost of Material Consumed 179 50 nm 147 21
Slide 24: Balance Sheet
Balance Sheet Rs. Cr Equity and Liabilities FY26 FY25 Assets FY26 FY25 Equity Share Capital 43 42 Property, plant and equipment 446 283 Other Equity 587 236 Right of Use assets 12 1 Capital work-in-progress 1 17 Total Equity 631 278 Other Intangible assets 0.5 1 Financial Liabilities Financial Asset
Slide 25: Cash Flow Statement
Cash Flow Statement Rs. Cr Particulars FY26 FY25 Cash Flow from Operating Activities Profit before Tax 359 194 Adjustment for Non-Operating Items 67 60 Operating Profit before Working Capital Changes 426 254 Changes in Working Capital (144) (86) Cash Generated from Operations 282 168 Less: Direct Ta
Slide 26: ESG
ESG SDG 3WEBSOL SDG 5 SDG 7 SDG 8 Decent Work & Economic Good Health & Well-Being Gender Equality Affordable & Clean Energy Growth Certified occupational health & safety Strong women representation in Clean energy capacity to support Driving sustainable growth through management system with frequent
Slide 27: 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 securities. It is not intended to be a prospectus under any jurisdiction's laws. The information contained herein includes