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Websol Energy System Limited
(WEBELSOLAR)
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Rating:72Outperform
Price Target:
₹104.00
▲(4.31% Upside)
Action:Reiterated
Date:08/07/26
The score is driven primarily by improved fundamentals (strong revenue growth, high margins, and lower leverage) and a very low P/E valuation. These positives are partially offset by weak technicals (price below key moving averages with negative MACD and low RSI) and cash-flow volatility, including sharply weaker free cash flow in FY2026.
Positive Factors
Revenue and margin recovery
The company delivered a material turnaround with double-digit revenue growth and very high gross and net margins in FY2026, reflecting improved product mix, operating leverage and pricing power. Such durable margin expansion and top-line recovery support sustainable cash generation and reinvestment capacity over the next 2–6 months, assuming stable demand.
Negative Factors
Weak free cash flow and cash volatility
Despite positive operating cash flow, free cash flow declined sharply in FY2026 and represents a small fraction of net income, pointing to heavy reinvestment or working-capital absorption. This reduces surplus liquidity, limits buffer for downturns, and can force external funding during capex or receivables pressure, raising medium-term execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and margin recovery
The company delivered a material turnaround with double-digit revenue growth and very high gross and net margins in FY2026, reflecting improved product mix, operating leverage and pricing power. Such durable margin expansion and top-line recovery support sustainable cash generation and reinvestment capacity over the next 2–6 months, assuming stable demand.
Read all positive factors
Websol Energy System Limited (WEBELSOLAR) vs. iShares MSCI India ETF (INDA)
Market Cap
₹36.97B
Dividend YieldN/A
Average Volume (3M)23.01K
Price to Earnings (P/E)5.1
Beta (1Y)1.14
Revenue Growth76.28%
EPS Growth52.26%
CountryIN
Employees190
SectorGeneral
Sector StrengthN/A
IndustrySolar
Share Statistics
EPS (TTM)31.18
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)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 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 10.49B | 5.75B | 258.59M | 172.20M | 2.13B |
| Gross Profit | 6.38B | 3.57B | -304.07M | 30.00M | 443.04M |
| EBITDA | 4.37B | 2.53B | -1.12B | -123.86M | 321.26M |
| Net Income | 3.03B | 1.55B | -1.21B | -236.70M | 96.70M |
Balance Sheet | |||||
| Total Assets | 9.31B | 5.14B | 3.53B | 2.67B | 2.86B |
| Cash, Cash Equivalents and Short-Term Investments | 1.52B | 869.20M | 9.28M | 855.00K | 37.70M |
| Total Debt | 1.31B | 1.53B | 1.84B | 280.01M | 364.75M |
| Total Liabilities | 3.00B | 2.36B | 2.45B | 757.80M | 943.10M |
| Stockholders Equity | 6.31B | 2.78B | 1.08B | 1.91B | 1.92B |
Cash Flow | |||||
| Free Cash Flow | 753.20M | 1.24B | -1.89B | -141.80M | -39.37M |
| Operating Cash Flow | 2.55B | 1.67B | 349.40M | -84.20M | -29.61M |
| Investing Cash Flow | -2.34B | -859.10M | -2.23B | -57.60M | -9.75M |
| Financing Cash Flow | -27.60M | -345.50M | 1.89B | 104.90M | 60.51M |
Websol Energy System Limited Technical Analysis
Negative
99.70
Price Trends
100.49
Negative
98.38
Negative
93.73
Negative
Market Momentum
-3.27
Positive
33.25
Neutral
7.92
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 96.62, below the 50-day MA of 100.49, and above the 200-day MA of 93.73, indicating a bearish trend. The MACD of -3.27 indicates Positive momentum. The RSI at 33.25 is Neutral, neither overbought nor oversold. The STOCH value of 7.92 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹36.97B | 5.11 | ― | ― | 76.28% | 52.26% | |
66 Neutral | ₹476.56B | 28.05 | ― | 0.14% | 26.70% | 58.92% | |
61 Neutral | ₹766.59B | 20.25 | ― | 0.07% | 94.31% | 74.83% | |
56 Neutral | ₹10.45B | 18.29 | ― | 0.47% | 5.70% | 337.96% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
44 Neutral | ₹47.35B | -16.56 | ― | ― | 3.19% | -362.93% |
* General Sector Average
IN:WEBELSOLAR
Websol Energy System Limited
87.38
-44.86
-33.92%
IN:GENSOL
Gensol Engineering Limited
16.73
-23.11
-58.01%
IN:PREMIERENE
Premier Energies Limited
1,031.00
46.62
4.74%
IN:SWELECTES
Swelect Energy Systems Limited
679.50
-52.92
-7.23%
IN:SWSOLAR
Sterling And Wilson Renewable Energy Limited
203.75
-65.20
-24.24%
IN:WAAREEENER
WAAREE Energies Limited
2,680.00
-301.98
-10.13%
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.