Solarworld Scales EPC and Storage Portfolio in Q3 FY26, Order Book Strengthens

Solarworld Energy Solutions Limited reported a sharp year-on-year improvement in its financial performance for the third quarter and nine months ended December 31, 2025, driven by strong execution in its solar EPC and energy storage businesses, according to its unaudited results filed with stock exchanges.

Financial Highlights – Q3FY26

Q3 FY26 Financial Performance

For the quarter ended December 31, 2025 (Q3 FY26), Solarworld’s total income rose to ₹587.85 crore, compared with ₹205.11 crore in the corresponding quarter of the previous year, reflecting a growth of nearly 187 percent year-on-year.

Key Financial Performance

EBITDA for the quarter stood at ₹75.42 crore, up from ₹60.05 crore in Q3 FY25. However, the EBITDA margin declined to 12.8 percent from 29.3 percent a year earlier.

Profit after tax (PAT) for Q3 FY26 came in at ₹49.22 crore, registering a 15 percent increase over ₹42.69 crore reported in the same period last year. PAT margin for the quarter stood at 8.4 percent, compared with 20.8 percent in Q3 FY25.

Nine-Month Performance (9M FY26)

For the nine months ended December 31, 2025, Solarworld reported total income of ₹809.11 crore, more than doubling from ₹371.82 crore in the corresponding period of the previous financial year.

EBITDA for the nine-month period increased to ₹114.64 crore, compared with ₹99.16 crore in 9M FY25, while EBITDA margin moderated to 14.2 percent from 26.7 percent.

Profit after tax for 9M FY26 stood at ₹71.42 crore, up from ₹67.61 crore reported in the same period last year. PAT margin for the period was recorded at 8.8 percent.

Revenue from operations for the nine months reached ₹784.30 crore, marking a year-on-year increase of 113 percent, supported by higher execution in the EPC segment.

Order Book and Business Updates

As of December 31, 2025, Solarworld’s total order book stood at ₹2,622.09 crore, providing strong revenue visibility for the coming quarters.

During the period, the company commenced operations at its solar module manufacturing facility in Roorkee and received ALMM approval for 1.552 GW of annual solar PV module manufacturing capacity.

Solarworld also secured an EPC order worth ₹725.33 crore from NTPC Renewable Energy Limited and signed a Battery Energy Storage Purchase Agreement (BESPA) for a 200 MW/400 MWh battery energy storage system project valued at ₹806.40 crore.

In addition, the company has completed procurement for a 3.4 GWh lithium-ion cell-to-battery-pack facility, with commissioning targeted by March 2026. A separate 5 GW manufacturing line is being set up through a joint venture, with operations also expected to begin by March 2026. Development work has commenced on a 1.2 GW solar cell manufacturing facility, targeted to be operational by the end of June 2027.

Kartik Teltia, Managing Director, said, “The company delivered an exceptionally strong performance this quarter, marking a clear shift from the subdued trajectory seen earlier in the year. Improved execution efficiency, faster project mobilization, and stronger operational discipline enabled us to deliver robust growth across key EPC and storage portfolios. Order inflows remained healthy, further supported by the large domestic solar EPC and BESS mandates secured during the previous quarter. With visibility strengthening across our execution pipeline and with most projects progressing ahead of schedule, we remain confident of sustaining this momentum through Q4. 

“The adoption of Battery Energy Storage Systems is accelerating, and we see it emerging as a margin-accretive, high-growth vertical for the company. With a strong order book, a well-diversified project pipeline for the next year, and supportive government policies driving sectoral momentum, we are well-positioned to capture upcoming opportunities,” he added.