Websol Energy System Limited (IN:WEBELSOLAR)
:WEBELSOLAR
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Websol Energy System Limited
(WEBELSOLAR)
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Rating:78Outperform
Price Target:
₹139.00
▲(47.87% Upside)
Action:Upgraded
Date:05/02/26
Overall score is driven primarily by the strong fundamental rebound (rapid revenue growth, very high margins, and improved leverage), supported by bullish technical momentum (price above key moving averages and positive MACD). Valuation also helps with a low P/E, while the main risk tempering the score is cash-flow consistency (weaker FY2026 free cash flow and historical volatility).
Positive Factors
Strong revenue growth & high margins
Sustained high gross (~60.8%) and net (~28.9%) margins alongside a 48.4% revenue jump in FY2026 indicate durable product demand, pricing power, and improved operating leverage. These fundamentals support stable earnings and reinvestment capacity over the medium term.
Negative Factors
Weak/free cash flow pressure
Sharp FCF decline and FCF-to-net-income around 29.5% imply much reported profit is not translating into free cash. That limits internal funding for capex, debt reduction or returns, increases reliance on external capital, and constrains strategic choices if trends persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth & high margins
Sustained high gross (~60.8%) and net (~28.9%) margins alongside a 48.4% revenue jump in FY2026 indicate durable product demand, pricing power, and improved operating leverage. These fundamentals support stable earnings and reinvestment capacity over the medium term.
Read all positive factors
Websol Energy System Limited (WEBELSOLAR) vs. iShares MSCI India ETF (INDA)
Market Cap
₹45.20B
Dividend YieldN/A
Average Volume (3M)23.01K
Price to Earnings (P/E)15.6
Beta (1Y)0.97
Revenue Growth82.37%
EPS Growth90.41%
CountryIN
Employees190
SectorEnergy
Sector Strength52
IndustrySolar
Share Statistics
EPS (TTM)48.18
Shares Outstanding434,163,480
10 Day Avg. Volume34,135
30 Day Avg. Volume23,006
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)4.9
Revenue Forecast (FY)₹17.12B
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 PV products—most notably PV cells and PV modules—manufactured at its facilities. Revenue is generated from (1) module sales, where the company supplies finished solar panels to so...
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 | 7.07B | 10.49B | 5.75B | 258.59M | 172.20M | 2.13B |
| Gross Profit | 4.55B | 6.38B | 3.57B | -304.07M | 30.00M | 443.04M |
| EBITDA | 3.28B | 4.37B | 2.53B | -1.12B | -123.86M | 321.26M |
| Net Income | 2.03B | 3.03B | 1.55B | -1.21B | -236.70M | 96.70M |
Balance Sheet | ||||||
| Total Assets | 7.09B | 9.31B | 5.14B | 3.53B | 2.67B | 2.86B |
| Cash, Cash Equivalents and Short-Term Investments | 538.00M | 1.54B | 869.20M | 9.28M | 855.00K | 37.70M |
| Total Debt | 1.59B | 1.31B | 1.53B | 1.84B | 280.01M | 364.75M |
| Total Liabilities | 3.17B | 3.00B | 2.36B | 2.45B | 757.80M | 943.10M |
| Stockholders Equity | 3.91B | 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
Neutral
94.00
Price Trends
103.81
Positive
85.46
Positive
98.98
Positive
Market Momentum
0.18
Positive
48.12
Neutral
44.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WEBELSOLAR, the sentiment is Neutral. The current price of 94 is below the 20-day moving average (MA) of 107.16, below the 50-day MA of 103.81, and below the 200-day MA of 98.98, indicating a neutral trend. The MACD of 0.18 indicates Positive momentum. The RSI at 48.12 is Neutral, neither overbought nor oversold. The STOCH value of 44.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:WEBELSOLAR.
Websol Energy System Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹45.20B | 15.56 | ― | ― | 82.37% | 90.41% | |
71 Outperform | ₹881.75B | 23.75 | ― | ― | 83.72% | 98.80% | |
66 Neutral | ₹478.88B | 31.56 | ― | 0.11% | 20.03% | 60.95% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
56 Neutral | ₹9.69B | 17.51 | ― | 0.47% | 5.70% | 337.96% | |
47 Neutral | ₹51.88B | -16.77 | ― | ― | 19.77% | -479.90% |
* Energy Sector Average
IN:WEBELSOLAR
Websol Energy System Limited
104.10
-18.93
-15.39%
IN:GENSOL
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IN:PREMIERENE
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1,057.15
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2.94%
IN:SWELECTES
Swelect Energy Systems Limited
639.25
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IN:SWSOLAR
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-29.30%
IN:WAAREEENER
WAAREE Energies Limited
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83.67
2.81%
Websol Energy System Limited Corporate Events
Websol Energy Confirms No Deviation in Use of Preferential Issue Funds
Apr 30, 2026
Websol Energy System Limited has submitted a statement to the Indian stock exchanges confirming the utilization of funds raised via a preferential issue of equity shares following the conversion of warrants. The company reported that for the quart...
Websol Energy Doubles FY26 Profit as Solar Capacity, Order Book Expand
Apr 28, 2026
Websol Energy System Limited reported a robust finish to FY26, with Q4 revenue surging 132.1% year-on-year to Rs. 401 crore and profit after tax jumping 157.9% to Rs. 125 crore. For the full year, revenue grew 82.4% to Rs. 1,049 crore and PAT near...
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.