Websol Energy System Limited — Earnings Release 2026

Apr 27, 2026

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Date: 28[th] April, 2026

To, To, The Manager Listing, The Manager Listing, National Stock Exchange of India Limited BSE Limited Exchange Plaza, Floor 25, Bandra Kurla Complex, PJ Towers, Dalal Street, Bandra (E) Mumbai: 400051 Mumbai: 400 001 Scrip Code- WEBELSOLAR Scrip Code- 517498

WEBSOL ENERGY SYSTEM LIMITED: ISIN-INE855C01023

Sub: Press Release

Dear Sir,

Enclosed is a press release dated 27[th] April, 2026 which is self-explanatory.

This is for your information and record.

For WEBSOL ENERGY SYSTEM LIMITED

Digitally signed by RAJU RAJU SHARMA SHARMA Date: 2026.04.28 02:56:51 +05'30' Raju Sharma Company Secretary

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Q4 and FY26 Press Release

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Websol Energy Q4FY26 Revenue jumps 132.1% Y-o-Y to Rs. 401 crore

Kolkata, 27[th] April 2026: Websol Energy System Limited, (“Websol” or the “Company”) (BSE: 517498; NSE: WEBELSOLAR), one of the leading manufacturers of high-efficiency solar cells and solar modules in India, announced its audited financial results for the quarter and full year ended 31st March 2026.

The solar energy pioneer, announced a PAT of Rs. 125 crore for Q4FY26 as compared to Rs. 48 crore in Q4FY25, a jump of 157.9%. Revenue for the quarter stood at Rs. 401 crore, as against Rs. 173 crore during the same quarter of last fiscal, a rise of 132.1%. EBITDA margin for Q4FY26 stood at 36.4%.

The company’s full year PAT stood at Rs. 303 crore, up 95.8% as compared to Rs. 155 crore for FY25. Revenue for FY26 was at Rs. 1,049 crore, a growth of 82.4% as against Rs. 575 crore in FY25. EBITDA margin for FY26 was at 40.8%, against 43.9% in FY25.

Financial Performance:

(Rs. Cr)	Q4 FY26	Q4 FY25	Y-o-Y	Q3 FY26	Q-o-Q	FY26	FY25	Y-o-Y
Revenue from Operations	401	173	132.1%	261	53.8%	1,049	575	82.4%
EBITDA	146	78	86.4%	106	37.4%	429	253	69.6%
EBITDA Margin%	36.4%	45.4%	(892) Bps	40.8%	(434) Bps	40.8%	43.9%	(307) Bps
PBT	125	66	89.2%	84	48.4%	359	194	84.9%
PBT Margin%	30.8%	37.9%	(703) Bps	32.0%	(117) Bps	33.9%	33.7%	26 bps
PAT	125	48	157.9%	65	91.6%	303	155	95.8%
PAT Margin%	30.8%	27.7%	306 bps	24.8%	603 bps	28.6%	26.8%	181 bps
EPS	2.8	1.1	140.4%	1.5	78.6%	7.0	3.7	90.4%

Business Highlights for Q4FY26:

• The Company has initiated the upgrade of one Mono PERC cell line to Topcon. Post commissioning of this capacity, overall cell capacity will increase to 1.35 GW.

• Cell Line - 2 successfully ramped up – Overall Cell Capacity utilization remained above 90%; Module Line utilization recorded at 74%.

• The Company turned net cash surplus as of March 31, 2026, with total debt of Rs. 118 crore, cash & cash equivalents of Rs. 152 crore and net cash of Rs. 34 crore.

• The Company maintains a strong order book of Rs. 1,161 crore as of March 31, 2026.

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Q4 and FY26 Press Release

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Commenting on the performance, Mr. Sohan Lal Agarwal, Managing Director said:

“FY26 has been a landmark year for Websol. The commissioning of Cell Line-2 has not only enhanced our capacity but also reinforced the core strength of the business. Additionally, we are upgrading one of our existing Mono PERC cell lines to Topcon technology. This will raise our total cell capacity to 1.35 GW and act as an important milestone towards our upcoming integrated 2 GW cell and module facility.

Our Q4 and full-year performance are the result of several deliberate efforts — managing working capital prudently, improving capacity utilisation, maintaining cost discipline and executing with consistency. This has led to record revenue and profitability, stronger cash flows and better operating efficiency.

As we move toward full run-rate utilisation, our focus remains — get the most out of the expanded capacity, move ahead on backward integration, and prepare responsibly for the next phase of growth. We remain mindful that this sector is witnessing significant opportunity, and our effort is to be part of this journey with clarity and discipline.

Outlook:

India’s solar manufacturing sector continues to benefit from strong structural tailwinds, including ambitious renewable capacity targets, supportive government policies such as PLI and ALMM, and increasing domestic demand for high-efficiency solar products.

With a strengthened manufacturing base, improving utilization levels, and a clear roadmap for expansion and integration, Websol is well positioned to capitalize on these opportunities.

About Websol Energy System Limited:

Founded among the pioneers of solar photovoltaic manufacturing in India, Websol specializes in producing high-efficiency solar cells and modules incorporating advanced Mono PERC technology. The Company supplies solar cells primarily within India, supporting module manufacturers to comply with Domestic Content Requirement norms, while its modules are marketed both in India and internationally. Its fully modernized manufacturing facility, located at Falta Special Economic Zone in West Bengal, operates with a current solar cell capacity of 1,200 MW and module capacity of 550 MW. The facility is designed to process wafers up to 210 mm, offering higher energy output and optimized land use for rooftop installations.

Websol’s integrated production model, manufacturing both cells and modules in-house, enhances supply chain control and flexibility to address market dynamics. The Company maintains established partnerships with reputed clients and benefits from supportive policy frameworks that encourage local production and technology advancement, underpinning its long-term strategic positioning in the solar industry. For more details, please visit: https://www.websolenergy.com

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Q4 and FY26 Press Release

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Q4 and FY2026 Earnings Conference Call

Conference Call Details: Tuesday, April 28, 2026, at 4:00 PM IST Diamond Pass Click Here Universal Access Number +91 22 6280 1106 / +91 22 7115 8007 The number listed above is universally accessible from all networks and all countries. HK: 800 964 448 | SG: 800 101 2045 | Toll Free Number UK: 0 808 101 1573 | USA: 1 866 746 2133

For further information, please contact:

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Websol Energy System Limited Churchgate Partners Amrit Daga Simran Malhotra / Ansh Gandhi Chief Financial Officer +91 99454 72589 investors@websolenergy.com websol@churchgatepartners.com

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward- looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

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