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Websol Energy System Limited
(WEBELSOLAR)
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Rating:71Outperform
Price Target:
₹73.00
▼(-26.78% Downside)
Action:Reiterated
Date:10/09/26
Score is supported primarily by improved fundamentals (strong revenue growth, high margins, and lower leverage) and a very inexpensive valuation (low P/E). This is partly offset by weak technicals (price below key moving averages, negative MACD) and cash-flow volatility, including sharply weaker free cash flow in FY2026.
Positive Factors
Strong Revenue and Profitability Recovery
The sharp revenue rebound and return to strong profitability indicate materially improved operating performance and possible operating leverage. If maintained, this stronger earnings base can support reinvestment, improve resilience, and strengthen the company’s position in the renewable energy value chain over the next several quarters.
Negative Factors
Recent Earnings Volatility
The transition from deep losses to strong profits demonstrates improvement but also shows that earnings have not yet been consistently stable across cycles. Such volatility makes future profitability harder to underwrite and could weaken reinvestment capacity if operating conditions or product mix deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue and Profitability Recovery
The sharp revenue rebound and return to strong profitability indicate materially improved operating performance and possible operating leverage. If maintained, this stronger earnings base can support reinvestment, improve resilience, and strengthen the company’s position in the renewable energy value chain over the next several quarters.
Read all positive factors
Websol Energy System Limited (WEBELSOLAR) vs. iShares MSCI India ETF (INDA)
Market Cap
₹28.41B
Dividend Yield0.4%
Average Volume (3M)186.58K
Price to Earnings (P/E)3.7
Beta (1Y)1.22
Revenue Growth76.28%
EPS Growth54.75%
CountryIN
Employees190
SectorGeneral
Sector StrengthN/A
IndustrySolar
Share Statistics
EPS (TTM)17.05
Shares Outstanding434,163,480
10 Day Avg. Volume237,849
30 Day Avg. Volume186,582
Financial Highlights & Ratios
PEG Ratio-0.13
Price to Book (P/B)4.91
Price to Sales (P/S)2.95
P/FCF Ratio41.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)7.5
Revenue Forecast (FY)₹16.74B
Websol Energy System Limited Business Overview & Revenue Model
Company Description
Websol Energy System Limited, an Indian firm, is engaged in the manufacturing and sale of crystalline photovoltaic (PV) solar cells and their associated modules. These modules are deployed in a range of applications, such as large-scale solar powe...
How the Company Makes Money
Websol Energy System Limited primarily makes money by selling solar photovoltaic products it manufactures—mainly PV cells and PV modules. Revenue is recognized from contracts/orders where the company supplies these goods to customers such as solar...
Websol Energy System Limited Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
78
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.03B | 10.49B | 5.75B | 258.59M | 172.20M | 2.13B |
| Gross Profit | 5.95B | 6.38B | 3.57B | -304.07M | 30.00M | 443.04M |
| EBITDA | 4.57B | 4.37B | 2.53B | -1.12B | -121.77M | 321.26M |
| Net Income | 3.14B | 3.03B | 1.55B | -1.21B | -236.70M | 96.70M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 9.31B | 5.14B | 3.53B | 2.67B | 2.86B |
| Cash, Cash Equivalents and Short-Term Investments | 1.52B | 1.52B | 869.20M | 9.28M | 855.00K | 37.70M |
| Total Debt | 0.00 | 1.31B | 1.53B | 1.84B | 280.01M | 364.75M |
| Total Liabilities | -6.31B | 3.00B | 2.36B | 2.45B | 757.80M | 943.10M |
| Stockholders Equity | 6.31B | 6.31B | 2.78B | 1.08B | 1.91B | 1.92B |
Cash Flow | ||||||
| Free Cash Flow | -264.60M | 753.20M | 1.24B | -1.89B | -141.80M | -39.37M |
| Operating Cash Flow | 1.32B | 2.55B | 1.67B | 349.40M | -84.20M | -29.61M |
| Investing Cash Flow | -1.62B | -2.34B | -859.10M | -2.23B | -57.60M | -9.75M |
| Financing Cash Flow | -142.30M | -27.60M | -345.50M | 1.89B | 104.90M | 60.51M |
Websol Energy System Limited Technical Analysis
Negative
99.70
Price Trends
74.27
Negative
87.80
Negative
85.09
Negative
Market Momentum
-3.20
Positive
28.85
Positive
6.77
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WEBELSOLAR, the sentiment is Negative. The current price of 99.7 is above the 20-day moving average (MA) of 68.50, above the 50-day MA of 74.27, and above the 200-day MA of 85.09, indicating a bearish trend. The MACD of -3.20 indicates Positive momentum. The RSI at 28.85 is Positive, neither overbought nor oversold. The STOCH value of 6.77 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:WEBELSOLAR.
Websol Energy System Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ₹28.41B | 3.66 | ― | 0.40% | 76.28% | 54.75% | |
62 Neutral | ₹408.22B | 23.86 | ― | 0.17% | 26.70% | 58.85% | |
61 Neutral | ₹722.90B | 18.50 | ― | 0.16% | 94.31% | 74.80% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | ₹9.15B | 21.27 | ― | 0.58% | -10.86% | 55.28% | |
45 Neutral | ₹35.60B | 17.36 | ― | 3.25% | -9.04% | ― |
* General Sector Average
IN:WEBELSOLAR
Websol Energy System Limited
61.13
-57.37
-48.41%
IN:GENSOL
Gensol Engineering Limited
11.15
-24.05
-68.32%
IN:PREMIERENE
Premier Energies Limited
865.00
-204.26
-19.10%
IN:SWELECTES
Swelect Energy Systems Limited
589.05
-241.11
-29.04%
IN:SWSOLAR
Sterling And Wilson Renewable Energy Limited
148.65
-79.60
-34.87%
IN:WAAREEENER
WAAREE Energies Limited
2,367.00
-1,195.25
-33.55%
Websol Energy System Limited Corporate Events
Websol Secures West Bengal Land for 4 GW Greenfield Solar Manufacturing Plant
Sep 23, 2026
Websol Energy System Limited has received a 54.20-acre land allotment from the West Bengal government at Falta Industrial Park in Kolkata for a new greenfield solar manufacturing facility. The plant is planned to house 4 GW of solar cell and 4 GW ...
Websol Energy Dispatches 36th AGM Notice and FY 2025-26 Annual Report
Aug 31, 2026
Websol Energy System Limited has notified the stock exchanges that it has dispatched the notice of its 36th Annual General Meeting and the Annual Report for the financial year 2025-26 to its shareholders. The company also published the related adv...
Websol Energy Sets Dividend Record Date for FY 2025-26
Aug 29, 2026
Websol Energy System Limited’s board has proposed a final dividend of Rs 0.25 per equity share of Re 1 for the financial year 2025-26, subject to shareholder approval at the annual general meeting scheduled for 22 September 2026. The move si...
Websol Energy Reshapes Board Committees to Strengthen Governance
Aug 10, 2026
Websol Energy System Limited has reconstituted the membership of its key board committees following a board meeting held on August 10, 2026. The company has refreshed the Audit Committee, Nomination and Remuneration Committee, and Stakeholder Rela...
Websol Energy Boosts Q1FY27 Revenue 70% and Retires IREDA Debt
Aug 10, 2026
Websol Energy System reported a strong first quarter for FY27, with revenue from operations rising 70% year-on-year to Rs 372.60 crore and profit after tax up 16% to Rs 77.79 crore, even as margins moderated. The company sharply increased module a...
Websol Energy to Join Emkay Confluence 2026 Investor Meet
Aug 10, 2026
Websol Energy System Limited has announced that it will participate in the Emkay Confluence 2026 investor conference on August 13, 2026. The engagement underscores the company’s efforts to deepen communication with investors, potentially enh...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.