Websol Energy System Ltd

Websol Energy System Limited: Trading Window closed from Oct 01, 2026 and will reopen after expiry of 48 hours from declaration of Unaudited Financial Results for the quarter ending September 30, 2026

Websol Energy System Ltd: Closure of Trading Window from October 01, 2026; reopens 48 hours after declaration of Unaudited Financial Results for the quarter ending September 30, 2026.

Appointment: Sanjay Kumar

• Sanjay Kumar appointed Non-Executive Non-Independent Director, effective 10 Aug 2026; liable to retire by rotation.
• Profile: 39-year energy-sector veteran, former HPCL executive.
• Not debarred by SEBI or any authority.

Appointment: Dinesh Agarwal

• Dinesh Agarwal appointed Independent Director, effective 10 Aug 2026; tenure five years.
• Profile: Retired EY partner with 33 years in tax and governance.
• Not debarred by SEBI or any authority.

Cessation: Rajeewa Arya

• Rajeewa R Arya retires by rotation; expressed unwillingness for re-appointment; ceased 22 Sep 2026.

Re-appointment: Sanjana Khaitan

• Sanjana Khaitan re-appointed as Director; effective 22 Sep 2026; retired earlier.
• Relationship: Grandfather of Ms. Sanjana Khaitan is Mr. Sohan Lal Agarwal.
• Not debarred by SEBI or any authority.

AGM Details

• AGM held on 22 Sep 2026 from 2:30 PM to 3:31 PM; mode: video conferencing.

Key Resolutions and Outcomes

• Ordinary: Adoption of audited standalone and consolidated financials for year ended 31 Mar 2026; Passed.
• Ordinary: Dividend of Rs 0.25 per equity share; Passed.
• Ordinary: Re-appointment of Sanjana Khaitan by rotation; Passed.
• Ordinary: Appointment of Sanjay Kumar Arwal as Non-Executive Non-Independent Director; Passed.
• Ordinary: Appointment of Dinesh Agarwal as Independent Director; Passed.
• Ordinary: Revision in remuneration terms for Ms. Sanjana Khaitan, Executive Director; Passed.
• Ordinary: Payment of remuneration to Non-Executive Directors including Independent; Passed.

Resolutions and outcomes

• Remote e-voting facility provided; e-voting conducted during AGM.
• All resolutions in the notice dated Aug 10, 2026 passed with requisite majority.

AGM Details

• AGM held on 22 September 2026; remote e-voting facility provided; e-voting conducted during AGM.

Resolutions

• All resolutions in AGM notice dated 10 August 2026 were passed by members with requisite majority.

Financial highlights

• FY26 revenue ₹1,049.44 Cr, EBITDA ₹428.54 Cr, net profit ₹303.01 Cr.
• Q1FY27 revenue ₹372.60 Cr, EBITDA ₹125.58 Cr, net profit ₹77.79 Cr.

Debt and credit

• Prepaid IREDA loan ₹110 Cr; debt-free status achieved.
• CRISIL BBB+ rating upgrade reflects solid financials.

Dividend and capital allocation

• Dividend recommended for the first time in a decade.
• Phase 2 expansion funded via internal accruals, no new debt.

Technology and capacity

• Mono PERC to TOPCon upgrade for higher efficiency.
• Target capacity toward 1,350 MW and module expansion.

Outlook and backlog

• Order backlog ₹1,278 Cr supports revenue visibility.
• 2028 targets: 5,350 MW cells and 4,550 MW modules.

AGM details

• AGM held on 22 September 2026 via VC/OAVM.

Dividend proposal

• Dividend recommended for FY2026; first in a decade; amount per share not disclosed.

Financial highlights

• FY26 revenue crossed ₹1,049.44 crore, up 82.4%.
• FY26 EBITDA ₹428.54 crore with 40.84% margin.
• Net profit ₹303.01 crore; net worth ₹630.71 crore.
• Q1FY27 revenue ₹372.60 crore; EBITDA ₹125.58 crore; net profit ₹77.79 crore.
• Order backlog stood at ₹1,278 crore.

Debt and credit

• Prepaid IREDA loan of ₹110 crore ahead of schedule.
• CRISIL rating upgraded to BBB+.
• Promoters' pledged shares released on debt clearance.
• Debt-free status highlighted by management.

Strategic outlook

• Upgrading production lines from Mono PERC to TOPCon for higher efficiency.
• Expanding into module manufacturing with backward integration toward wafer production.
• By 2028, target capacity: 5,350 MW cells and 4,550 MW modules.
• Aiming to become a vertically integrated solar provider across the value chain.

AGM details

• AGM held on 22 September 2026 from 2:30 PM to 3:31 PM via VC/OAVM.
• Quorum confirmed; meeting opened and CMD/ED addressed shareholders.
• AGM concluded at 3:31 PM.

Key resolutions

• Ordinary: Adoption of standalone and consolidated audited financial statements for 2025-26; outcome not disclosed.
• Ordinary: Dividend declaration for 2025-26 at Re 0.25 per share; outcome not disclosed.
• Ordinary: Appointment of Sanjana Khaitan; in place of retiring director, re-appointment proposed; outcome not disclosed.
• Ordinary: Appointment of Sanjay Kumar as Non-Executive Non-Independent Director; outcome not disclosed.
• Special: Appointment of Dinesh Agarwal as Independent Director for five years from 10 August 2026; outcome not disclosed.
• Ordinary: Revision in remuneration terms of Ms. Sanjana Khaitan, Executive Director; outcome not disclosed.
• Ordinary: Payment of commission to Non-Executive Directors including Independent Directors; outcome not disclosed.

Director changes

• Mr. Rajeewa R Arya retired from the board at AGM; unwilling to be reappointed.
• Ms. Sanjana Khaitan to be re-appointed; she expressed willingness.
• Mr. Sanjay Kumar appointed as Non-Executive Non-Independent Director.
• Mr. Dinesh Agarwal appointed as Independent Director for five-year term from 10 Aug 2026.
• Remuneration revision for Ms. Sanjana Khaitan (Executive Director).

Auditors

• Statutory audit reports had no qualifications; no changes announced.