Solar cell and module manufacturer Websol Energy System has reported a 17% increase in revenue to ₹1.68 billion (~$18.9 million) in the second quarter (Q2) of the financial year (FY) 2026, from ₹1.44 billion (~$16 million) in the same quarter of the previous year.

Despite the revenue growth, the company stated that the increase was offset by the temporary shutdown of its existing cell and module line for eight days. The facility was shut down for electrical integration at its recently commissioned 600 MW cell line.

Websol noted its revenue growth was also impacted by the slowdown of logistics during the festive season in West Bengal.

The company’s profit after tax (PAT) was ₹460 million (~$5.18 million) in Q2 FY26, representing a 10% year-over-year (YoY) growth from ₹420 million (~$4.7 million).

The earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 14% in the quarter to ₹720 million (~$8 million) from ₹630 million (~$7 million) in the same quarter of the previous year.

The earnings per share (EPS) increased to ₹11 (~$0.12) from ₹10 (~$0.11).

1H Results

In the first half (1H) of FY26, the company reported a 51.7% increase in revenue to ₹3.87 billion (~$43.6 million) from ₹2.55 billion (~$28.7 million) in 1H FY25.

PAT stood at ₹1.14 billion (~$12.8 million), a 75% rise from ₹650 million (~$7.3 million) in 1H FY25.

The EBITDA for 1H FY26 also jumped by 64.5% YoY to ₹1.76 billion (~$19.8 million) from 1.07 billion (~$12 million).

EPS in 1H FY26 was ₹26.9 (~$0.3) compared to ₹15.4 (~$0.17) during the same period the preceding year.

Business Highlights

Websol has a mono PERC solar cell manufacturing capacity of 1.2 GW and a module capacity of 550 MW. The module manufacturing facility is designed to process wafers up to 210 mm. The cell capacity utilization factor claimed to be 90%.

Websol commenced production for Phase II of its 600 MW mono PERC cell facility in Falta, West Bengal, in September 2025, taking its total cell manufacturing capacity to 1.2 GW. It stated that within one month, the Falta cell manufacturing line had reached efficiency levels exceeding 23.6%.

In Q2 FY 2026, Websol’s Board approved an investment plan of ₹30 billion (~$338 million) to expand its manufacturing capacity under Phase IV to 5.2 GW of solar cells and 4.5 GW of modules by June 2028.

Outlook

It plans to add a 2 GW integrated TOPCon cell and module facility under Phase III.

The facility will be commissioned in phases by June 2027 and by June 2028.