Websol Energy System Limited Earnings Summary — Q4 FY2026

• Websol delivered an exceptional performance with quarterly revenue surging 132% YoY to ₹401.45 crore, driven by fresh capacity commissioning.
• Net profit for Q4 reached ₹124.51 crore, a significant jump from ₹48.27 crore in the same period last year, marking a shift to high-scale profitability.
• The board recommended a final dividend of Re. 0.25 per share (on a sub-divided face value of Re. 1), signaling a return to shareholder distributions.
• A major capital infusion occurred during the quarter via the conversion of share warrants, resulting in the allotment of 1.21 crore equity shares at ₹53 each.
• Operational expenses rose sharply, specifically depreciation (up 141% YoY) and employee costs (up 151% YoY), reflecting the asset-heavy scale-up.
• An exceptional credit of ₹2.76 crore was recorded in Q4, primarily due to the reversal of a ₹7.50 crore contingency provision, offset by asset discards.
• Working capital intensity increased dramatically over the year, with inventories rising to ₹159.86 crore from ₹34.27 crore in the previous fiscal year.
• The company successfully executed a 1:10 stock split during the year, adjusting all historical EPS figures accordingly.

Management is focusing on pivoting from a stagnant phase to an aggressive scale-up in solar cell and module production. Following the successful conversion of warrants by Websol Green Projects, the company is utilizing fresh capital for capacity expansion and operational leverage.

Improving

The transition from a low-base survival mode to high-volume manufacturing is now reflected in the financials, with consistent QoQ growth in margins and top-line.

The outlook remains optimistic due to domestic solar demand tailwinds; however, future performance will depend on navigating potential liquidity strains caused by a significant jump in inventory and receivables.