Uttar Pradesh-based renewable energy company Solarworld Energy Solutions‘ total income for the first quarter (Q1) of the financial year (FY) 2026 rose 241.8% year-over-year (YoY) to ₹805.5 million (~$9.16 million) from ₹235.7 million (~$2.68 million).

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 21.4% YoY to ₹88.3 million (~$1 million) from ₹72.8 million (~$0.83 million) in Q2 FY25.

Net profit grew 386.7% to ₹129.1 million (~$1.47 million) from ₹26.5 million (~$0.30 million).

Earnings per share came in at ₹1.74 (~$0.0198) compared to ₹0.38 (~$0.0043) during the same period the preceding year.

Solarworld’s order book value stood at ₹25.26 billion (~$287.38 million) as of July 31, 2025.

Kartik Teltia, MD & CEO at Solarworld, said, “Our first quarter as a listed company has delivered a strong start to the fiscal year, reflecting continued execution strength across our EPC and manufacturing operations. With over 765 MW of EPC projects under execution and an expanding BESS pipeline, we are confident of sustaining revenue growth in the coming quarters.”

In its bourse filing, the company said it has commissioned a 1.2 GW G12R solar module manufacturing line, reinforcing its backward integration strategy and scaling up the production of solar modules.

It has also procured a 3.4 GW lithium-ion cell to battery facility, with the site fully prepared for installation. Equipment deliveries are expected to be completed by the end of November 2025, and commissioning is targeted for January 2026.

Additionally, a 5 GW junction box line is being established through a joint venture partnership. The site is installation-ready, with operations expected to commence by January 2026.

The company has initiated development of its 1.2 GW solar cell manufacturing facility, which is projected to become operational between December 2026 and March 2027.

Earlier this month, Solarworld Energy Solutions debuted on the stock exchanges after its ₹6 billion (~$71.6 million) initial public offering (IPO) was oversubscribed 65 times. The price band was set at ₹333 (~$3.75) to ₹351 (~$3.95) per equity share, with a face value of ₹5 (~$0.06). The IPO saw bids for 526 million shares, exceeding the 8.09 million shares on offer.

In April 2025, Solarworld won Gujarat Urja Vikas Nigam’s auction to set up a 500 MW/1,000 MWh standalone battery energy storage system under tariff-based competitive bidding (Phase VI). It secured a 200 MW contract at a tariff of ₹280,000 (~$3,288.31)/MW/month.