Websol Energy Q3 Profit Climbs To ₹65 Crore On Strong Cell Line Ramp-Up

Kolkata-based Websol Energy System Limited (Websol), a leading manufacturer of high-efficiency solar cells and modules in India, reported a 77.2% year-on-year rise in revenue from operations to ₹261 crore in the December quarter, compared with ₹147 crore in Q3 FY25.

Websol Energy said its EBITDA rose to ₹106 crore, with a margin of 40.8%, from ₹68 crore a year earlier. Its Profit after tax (PAT) for the quarter also increased to ₹65 crore, with a margin of 24.8%, compared with ₹42 crore in Q3 FY25, according to its unaudited financial results for the quarter and nine months ended December 31, 2025.

Business Highlights:

Websol Energy said its latest financial results build on the approval secured from the Andhra Pradesh (AP) government for a 4 GW integrated cell and module project. This includes securing 123 acres of land allotment and a tailor-made incentive package.

The company also has a Cell Line ramp-up, which has recently commissioned a 600 MW cell line utilisation improvement, with steady and stable scale-up post commissioning. The company maintains a strong order book of ₹1,150 crore as of December 31, 2025

Leadership View

Commenting on the performance, Sohan Lal Agarwal, Managing Director, said, "PAT was Rs. 65 crore, representing a margin of 24.8%. The growth was driven by the commissioning of Cell Line-2 (600 MW Mono PERC facility) at Falta, West Bengal, in September 2025."

Sohan Lal explained that Websol’s consolidated cell capacity utilisation was 75% during Q3FY26, with Cell Line-1 at 97% and Cell Line-2 at 54%, which is continuing to ramp up. He added, correspondingly, module capacity utilisation increased from 39% in Q1FY26 to 64% in the current quarter.

Lal further updated that the company's expansion plan, announced in September 2025, is well underway. In January 2026, Websol received approval for its proposed greenfield 4 GW solar cell and solar module manufacturing project, which will be located at MPSEZ, Naidupeta, in the Tirupati district of Andhra Pradesh. 

He said that the company's approval follows the MoU signed with the Andhra Pradesh Economic Development Board (APEDB) in November 2025. The company has received incentives granted by the Government of Andhra Pradesh include land allotment, fixed capital investment subsidy, power tariff reimbursement, electricity duty exemption, subsidies on industrial water charges, and exemptions from stamp duty and other registration charges.

He further added that, in addition to the planned manufacturing facility, Websol is planning to establish a 100 MW captive solar power plant. Websol has previously entered into an MoU with Linton, a global Photovoltaic (PV) ingot and wafer equipment technology provider, to further expand into backward integration.