Websol Energy System Ltd.
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ABOUT
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Company has delivered good profit growth of 43.7% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 23.6%
- Company has a healthy return on capital (ROCE) of 21.7%
- Promoters have been increasing their shareholding - up 2.0pp over 2 years
- Operating margins have improved to 39.7% from -56.9%
- Company has delivered good sales growth of 46.9% CAGR over last 5 years
CONS
- Receivables are growing faster than sales - a possible quality concern
- Working capital days have increased from 50 to 102 days
- Recurring exceptional / one-off items are inflating headline profit
- Equity base is being diluted - shares outstanding up 11.9%
- Inventory has been piling up - inventory days up from 17 to 33
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SYRMA | 1598.85 | 83.75 | 30830.70 | 0.09 | 105.69 | 111.72 | 1588.62 | 68.29 | 17.70 | 10.17 |
| KAYNES | 3519.90 | 68.25 | 23595.53 | 0.00 | 56.43 | -24.37 | 946.02 | 40.47 | 13.38 | 15.60 |
| AVALON | 2228.30 | 111.55 | 14903.38 | 0.00 | 34.87 | 145.31 | 484.41 | 49.83 | 20.34 | 11.96 |
| UTLSOLAR | 440.50 | 45.99 | 13519.02 | 0.00 | 577.94 | — | 13456.93 | — | 36.46 | 18.94 |
| CYIENTDLM | 921.25 | 89.07 | 7313.19 | 0.00 | 16.29 | 118.21 | 373.80 | 34.25 | 10.41 | 9.93 |
| VIKRAMSOLR | 165.50 | 16.81 | 5996.97 | 0.00 | 19.78 | -85.17 | 1563.09 | 37.89 | 34.07 | 8.06 |
| SAATVIKGL | 401.95 | 20.59 | 5108.99 | 0.00 | 5.36 | -95.49 | 511.01 | -44.20 | 55.18 | 6.62 |
| WEBELSOLAR | 75.49 | 10.82 | 3277.50 | 0.33 | 77.79 | — | 372.60 | 115.39 | 63.74 | 33.70 |
| KERNEX | 1709.45 | 15.06 | 2872.50 | 0.00 | 109.85 | 1382.00 | 503.58 | 800.38 | 23.69 | 32.33 |
| MODINSULAT | 443.35 | 22.20 | 2090.12 | 0.00 | 29.60 | 94.43 | 188.30 | 33.19 | 10.53 | 16.89 |
| INA | 92.95 | 10.23 | 2049.10 | 0.00 | 380.25 | 796.94 | 7406.98 | 1766.82 | 34.98 | 9.74 |
| IKIO | 231.30 | 38.44 | 1787.50 | 0.00 | 11.05 | 364.51 | 169.29 | 40.91 | 10.02 | 12.97 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 1 | 25 | 112 | 144 | 147 | 173 | 219 | 168 | 261 | 401 | 373 | |
| 2 | 1 | 3 | 28 | 68 | 81 | 80 | 95 | 115 | 96 | 155 | 255 | 273 | |
| Operating Profit | -1 | -1 | -2 | -3 | 44 | 63 | 68 | 78 | 103 | 72 | 106 | 146 | 100 |
| OPM % | -750.00% | -276.67% | -429.41% | -12.71% | 39.40% | 43.65% | 45.84% | 45.37% | 47.31% | 42.97% | 40.78% | 36.45% | 26.73% |
| 0 | 0 | -101 | -4 | 0 | 0 | 0 | 1 | 2 | 3 | -3 | 6 | 4 | |
| Interest | 1 | 1 | 0 | 5 | 5 | 6 | 5 | 4 | 4 | 5 | 4 | 4 | 4 |
| Depreciation | 4 | 4 | 4 | 24 | 8 | 9 | 15 | 10 | 11 | 11 | 16 | 24 | 22 |
| Profit before Tax | -6 | -5 | -107 | -36 | 32 | 49 | 48 | 66 | 91 | 60 | 84 | 125 | 104 |
| Tax % | 12.13% | 25.19% | 48.96% | -61.62% | 28.07% | 13.64% | 13.63% | 26.74% | 26.14% | 22.61% | 22.64% | 0.13% | 25.18% |
| Net Profit | -5 | -4 | -55 | -59 | 23 | 42 | 42 | 48 | 67 | 46 | 65 | 125 | 78 |
| -1.29 | -1.02 | -13.83 | -13.53 | 15.65 | 9.95 | 0.99 | 1.14 | 15.92 | 10.97 | 1.54 | 2.75 | 1.79 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 296 | 183 | 69 | 196 | 154 | 213 | 17 | 26 | 575 | 1,049 | 1,203 | |
| 267 | 167 | 93 | 193 | 120 | 187 | 30 | 33 | 322 | 628 | 779 | |
| Operating Profit | 29 | 17 | -25 | 3 | 34 | 26 | -13 | -7 | 253 | 421 | 425 |
| OPM % | 9.66% | 9.14% | -35.79% | 1.43% | 21.99% | 12.40% | -74.33% | -28.50% | 43.99% | 40.16% | 35.29% |
| 71 | 11 | 17 | 4 | 60 | 6 | 1 | -104 | 2 | 16 | 11 | |
| Interest | 5 | 9 | 6 | 6 | 9 | 3 | 4 | 5 | 20 | 16 | 16 |
| Depreciation | 15 | 14 | 15 | 15 | 15 | 15 | 15 | 36 | 41 | 62 | 73 |
| Profit before Tax | 79 | 5 | -29 | -15 | 69 | 14 | -32 | -153 | 194 | 360 | 372 |
| Tax % | 0.15% | 0.20% | -0.18% | 126.91% | 28.68% | 30.13% | 24.89% | 20.77% | 20.43% | 15.71% | 15.81% |
| Net Profit | 79 | 5 | -29 | 4 | 49 | 10 | -24 | -121 | 155 | 303 | 314 |
| EPS | 22.41 | 1.36 | -8.24 | 1.21 | 14.05 | 2.91 | -6.31 | -28.66 | 36.66 | 6.98 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 3.58% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 14%
- 5 Years:
- 47%
- 3 Years:
- 293%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 44%
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- 36%
- 5 Years:
- 63%
- 3 Years:
- 75%
- 1 Year:
- -42%
RETURN ON EQUITY
- 10 Years:
- 8%
- 5 Years:
- 13%
- 3 Years:
- 24%
- Last Year:
- 68%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 22 | 27 | 29 | 31 | 31 | 37 | 39 | 42 | 42 | 43 |
| 36 | 74 | 95 | 94 | 143 | 155 | 152 | 66 | 220 | 587 | |
| 109 | 176 | 116 | 106 | 30 | 26 | 28 | 184 | 124 | 96 | |
| Trade Payables | 39 | 61 | 81 | 56 | 40 | 23 | 22 | 49 | 32 | 71 |
| 112 | 31 | 31 | 25 | 41 | 45 | 26 | -3 | 96 | 132 | |
| Total Liabilities | 317 | 369 | 352 | 311 | 284 | 286 | 267 | 337 | 514 | 930 |
| 283 | 304 | 287 | 254 | 239 | 225 | 210 | 270 | 285 | 459 | |
| Capital Work in Progress | 0 | 0 | 1 | 0 | 0 | 0 | 6 | 30 | 17 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 52 | |
| 4 | 18 | 34 | 12 | 18 | 22 | 14 | 19 | 34 | 160 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 5 | 93 | |
| Cash & Bank | 3 | 0 | 0 | 1 | 2 | 4 | 0 | 1 | 87 | 100 |
| 27 | 47 | 30 | 44 | 26 | 35 | 38 | 16 | 82 | 66 | |
| Total Assets | 317 | 369 | 352 | 311 | 284 | 286 | 267 | 337 | 514 | 930 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 142 | 14 | 6 | 0 | 36 | -3 | -8 | 35 | 167 | 255 | |
| Cash from Investing | 28 | -1 | 6 | 13 | -0 | -1 | -6 | -223 | -86 | -233 |
| Cash from Financing | -168 | -12 | -11 | -14 | -35 | 6 | 10 | 189 | -35 | -3 |
| 2 | -3 | 0 | 0 | 1 | 2 | -4 | 1 | 47 | 18 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-01 - Websol Energy System Limited has submitted BRSR for the financial year ended 31st March 2026
2026-09-01 - Websol Energy System Limited has informed the Exchange about Shareholders meeting
2026-08-31 - Websol Energy System Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-29 - Websol Energy System Limited has informed the Exchange that Record date for the purpose of Dividend is 15-Sep-2026.
2026-08-18 - Websol Energy System Limited has informed the Exchange about Transcript
2026-08-12 - Websol Energy System Limited has informed the Exchange about Copy of Newspaper Publication dated 12th August, 2026
2026-08-11 - Websol Energy System Limited has informed the Exchange about
2026-08-11 - Websol Energy System Limited has informed the Exchange about Investor Presentation
2026-08-11 - Websol Energy System Limited has informed the Exchange about General Updates
News
Recent coverage and analyst commentary for WEBELSOLAR
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