WEBELSOLARWebsol Energy System Ltd.
Websol Energy System Q2 FY27 Results: Consolidated Net Profit ₹80.21 Crore on Total Income of ₹365 Crore
- Earnings
- Solar photovoltaic cells and modules
Reviewed byRachit TripathiBlacklitt Research
Websol Energy System (NSE: WEBELSOLAR) reported total income of ₹365.33 crore and net profit of ₹80.21 crore for the quarter ended 30 Sep 2026, on both consolidated and standalone bases, it said in a filing on 04 Nov 2026. Net profit was 73.2% higher than a year earlier.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹365.33 crore, up 113.0% YoY and down 3.1% QoQ
- Net profit and EPS: ₹80.21 crore, up 73.2% YoY; basic EPS ₹1.83
- Finance costs: ₹3.78 crore, down 20.1% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹365.33 crore, up 113.0% YoY and down 3.1% QoQ
- Net profit and EPS: ₹80.21 crore, up 73.2% YoY; basic EPS ₹1.85
- Finance costs: ₹3.78 crore, down 20.1% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 365.33 | 171.50 | +113.0% | 376.98 | -3.1% | |
| Revenue from operations | 361.02 | 168.22 | +114.6% | 372.60 | -3.1% |
| Other income | 4.31 | 3.28 | +31.4% | 4.38 | -1.6% |
| 80.21 | 46.32 | +73.2% | 77.79 | +3.1% | |
| Profit before tax | 106.58 | 59.85 | +78.1% | 103.97 | +2.5% |
| Finance costs | 3.78 | 4.73 | -20.1% | 4.17 | -9.4% |
| Depreciation | 22.09 | 10.99 | +101.0% | 21.82 | +1.2% |
| Tax expense | 26.37 | 13.53 | +94.9% | 26.18 | +0.7% |
| Net profit margin | 21.96% | 27.01% | -5.05 pp | 20.64% | +1.32 pp |
| EPS, basic (₹) | 1.83 | 1.10 | +66.4% | 1.79 | +2.2% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Profit grew more slowly than income. Total income of ₹365.33 crore was up 113.0% on the year-ago quarter's ₹171.50 crore, while net profit of ₹80.21 crore rose 73.2% from ₹46.32 crore. Revenue from operations made up ₹361.02 crore of the total, against ₹168.22 crore a year earlier.
Tax took a larger share of pre-tax profit than a year earlier. Tax expense of ₹26.37 crore is 24.7% of profit before tax of ₹106.58 crore, against 22.6% in the year-ago quarter (₹13.53 crore on ₹59.85 crore). Depreciation rose to ₹22.09 crore from ₹10.99 crore, while finance costs fell 20.1% to ₹3.78 crore.
Other income is small against the quarter's results. At ₹4.31 crore it is 1.2% of total income and 4.0% of profit before tax. Finance costs of ₹3.78 crore are 1.0% of total income.
Half-year figures in the same statement show total income of ₹742.31 crore against ₹392.43 crore and net profit of ₹158.00 crore against ₹113.50 crore a year earlier. The statement restates EPS for the year-ago quarter for a sub-division of equity shares, and the auditors' limited review reports state no qualification.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 365.33 | 171.50 | +113.0% | 376.98 | -3.1% | |
| Revenue from operations | 361.02 | 168.22 | +114.6% | 372.60 | -3.1% |
| Other income | 4.31 | 3.28 | +31.4% | 4.38 | -1.6% |
| 80.21 | 46.32 | +73.2% | 77.79 | +3.1% | |
| Profit before tax | 106.58 | 59.85 | +78.1% | 103.97 | +2.5% |
| Finance costs | 3.78 | 4.73 | -20.1% | 4.17 | -9.4% |
| Depreciation | 22.09 | 10.99 | +101.0% | 21.82 | +1.2% |
| Tax expense | 26.37 | 13.53 | +94.9% | 26.18 | +0.7% |
| Net profit margin | 21.96% | 27.01% | -5.05 pp | 20.64% | +1.32 pp |
| EPS, basic (₹) | 1.85 | 1.10 | +68.2% | 1.79 | +3.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
The standalone statement shows the same total income, revenue from operations, other income, finance costs, depreciation, tax and net profit as the consolidated statement, so the growth rates for those lines are identical. Basic EPS differs: ₹1.85 standalone against ₹1.83 consolidated, with standalone EPS up 68.2% YoY against 66.4% consolidated. EPS is not annualised.
The consolidated notes say the group includes Websol Renewables Private Limited, a wholly owned subsidiary incorporated in India with effect from 13 Oct 2025 that has not commenced operations. The standalone profit lines in the filing match the consolidated ones.
Inference
On 04 Nov 2026 the Board approved entry into EPC, solar IPP including solar parks, and energy trading, and subscribing to 40% of the equity of Bright Earth Cell Private Limited, a related party that has had no turnover. The shares are to be subscribed in cash at face value of ₹10 each within 90 days, and the filing says the acquisition needs no regulatory approval.
The company repaid its IREDA term loan on 04 Aug 2026 from internal accruals, which the notes say fully discharged the liability. Dividend paid in the half year totalled ₹10.85 crore.
Not stated: the rupee amount of the investment in Bright Earth Cell, and the business plans and timing of the proposed EPC, solar IPP and SPV subsidiaries.
Filed with BSE on . Reference: Original filing (PDF)
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