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10 Yrs X-Ray 
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Websol Energy System Ltd (WEBELSOLAR)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 517498 NSE: WEBELSOLAR Electronics - Components | Small Cap | Websol Energy System Share Price
₹75.89 0.40 (0.53%)
As on 11-Sep'26 16:01
Websol Energy System Ltd (WEBELSOLAR)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 517498 NSE: WEBELSOLAR Electronics - Components | Small Cap | Websol Energy System Share Price
₹75.89 0.40 (0.53%)
As on 11-Sep'26 16:01
Key Metrics
Valuation Multiples
Market Cap
₹3,278 Cr.
Current Price
₹75.9
52-Week Low / High
₹50 / 138
TTM EPS
₹7
TTM Sales
₹1,049 Cr.
Book Value per Share
₹16.3
P/E Ratio
10.82
Higher than its 3-year historical median
Industry PE
49.4
Price to Book (P/B)
4.63
Lower than its 5-year historical median
Price to Sales (P/S)
3.12
Lower than its 5-year historical median
EV/EBITDA
7.51
Lower than its 5-year historical median
Dividend Yield
0.33%
Profitability Efficiency
Return on Equity (ROE)
67.88%
Outperforms industry median
Return on Capital Employed (ROCE)
63.74%
Outperforms industry median
Return on Assets (ROA)
41.92%
Operating Profit Margin
40.2%
Net Profit Margin
28.87%
Gross Profit Margin
39.8%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
82.37%
Operating Profit Growth (1 Year)
-
66.47%
Net Profit Growth (1 Year)
-
95.81%
Asset Quality
Promoter Holding
29.72%
Pledged shares (%) of Promoter's holding (%)
89.39%
Reserves
₹665 Cr.
Equity
₹43.4 Cr.
Face Value
₹1
All Time Low / High
₹0.05 / 189.11
Check Before You Invest
Quality
Not GoodValuation
FairCheck Valuation charts
Price Trend
Weak
Is Websol Energy System Ltd a good quality company?
Websol Energy System Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Websol Energy System Ltd performance compare with that of its Peers?
Revenue growth of Websol Energy System Ltd vs industry peers?
Websol Energy System Ltd revenue CAGR is 46.86%, compared to the industry median CAGR of 1.96%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Websol Energy System Ltd?
Promoters hold 29.72% of the Websol Energy System Ltd, with 89.39% of their stake pledged, indicating high pledge risk.
Stock return of Websol Energy System Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 35% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Websol Energy System Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 62.1% | 8.3% | -11.9% | -4.5% | 38.2% | 7.8% | -12.4% | -58% | 59.4% | 63.7% | - |
| Value Creation Index ⓘ | 3.4 | -0.4 | -1.9 | -1.3 | 1.7 | -0.5 | -1.9 | -5.1 | 3.2 | 3.6 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 296 | 183 | 68.6 | 196 | 154 | 213 | 17.2 | 25.9 | 575 | 1,049 | 1,203 |
| Sales YoY Gr. | - | -38.1% | -62.6% | 185.2% | -21.5% | 38.8% | -91.9% | 50.2% | 2,125.3% | 82.4% | - |
| Adj EPS ⓘ | 3.8 | 0.1 | -0.9 | 0.3 | 0.3 | 0.2 | -0.6 | -1.2 | 3.7 | 7 | 7.2 |
| YoY Gr. | - | -96.3% | -721.4% | NA | 3.2% | -34.4% | -371.4% | NA | NA | 90.2% | - |
| BVPS (₹) ⓘ | 2.6 | 3.8 | 4.3 | 4.1 | 5.6 | 5.2 | 4.9 | 2.6 | 6.2 | 14.5 | 16.3 |
| Adj Net Profit ⓘ | 83.3 | 3.8 | -25.2 | 9.4 | 10.1 | 7.7 | -22.2 | -49 | 155 | 303 | 313 |
| Cash Flow from Ops. ⓘ | 142 | 10.3 | 5 | 0.7 | 36.2 | -3 | -8.4 | 34.9 | 167 | 255 | - |
| Debt/CF from Ops. ⓘ | 0.6 | 7.9 | 15.3 | 114 | 1 | -12.2 | -3.2 | 5.3 | 0.9 | 0.5 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 15.1% | 46.9% | 293.5% | 82.4% | ||||
| Adj EPS ⓘ | 7% | 85.2% | NA | 90.2% | ||||
| BVPSⓘ | 20.9% | 21.1% | 43.4% | 134% | ||||
| Share Price | 34.9% | 62.9% | 75.9% | -41.8% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -113.4 | 4.8 | -22.5 | 7.5 | 6.8 | 4.2 | -11.6 | -32.8 | 80.3 | 66.7 | 46.8 |
| Op. Profit Mgn % ⓘ | 9.7 | 9.1 | -28 | 1.6 | 22 | 12.4 | -70.3 | -5.1 | 44.1 | 40.2 | 37.5 |
| Net Profit Mgn % ⓘ | 28.1 | 2.1 | -36.8 | 4.8 | 6.6 | 3.6 | -129.1 | -189.5 | 26.9 | 28.9 | 26.1 |
| Debt to Equity ⓘ | 1.5 | 0.8 | 0.6 | 0.6 | 0.2 | 0.2 | 0.1 | 1.7 | 0.6 | 0.2 | - |
| Working Cap Days ⓘ | 134 | 96 | 344 | 112 | 118 | 86 | 1,150 | 619 | 50 | 76 | 53 |
| Cash Conv. Cycle ⓘ | -77 | -56 | -23 | -67 | -50 | 17 | 480 | 41 | -24 | 23 | 23 |
Valuation of Websol Energy System - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 79.44 | 84.25 | 93.04 | 93.04 | 91.76 | 88.12 | 88.12 | 88.12 | 89.39 | 89.39 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'25 | Mar'26 |
|---|---|---|
| Sales | 575 | 1,049 |
| Operating Expenses ⓘ + | 322 | 628 |
| Operating Profit ⓘ | 253 | 421 |
| Operating Profit Margin (%) | 44.0% | 40.2% |
| Other Income ⓘ + | 2 | 17 |
| Interest ⓘ | 20 | 16 |
| Depreciation ⓘ | 41 | 62 |
| Profit Before Tax ⓘ | 194 | 359 |
| Tax ⓘ | 40 | 56 |
| Profit After Tax | 155 | 303 |
| PAT Margin (%) | 26.9% | 28.9% |
| Adjusted EPS (₹) | 3.7 | 7.0 |
| Dividend Payout Ratio (%) | 0% | 3.60% |
| PARTICULARS | Mar'25 | Mar'26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 262 | 631 | |||||||||
| Debt + | 123 | 85 | |||||||||
| Minority Interest | 0 | 0 | |||||||||
| Trade Payables | 32 | 71 | |||||||||
| Others Liabilities ⓘ | 97 | 144 | |||||||||
| Total Liabilities ⓘ | 514 | 931 | |||||||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 285 | 459 | |||||||||
| CWIP ⓘ | 17 | 1 | |||||||||
| Investments ⓘ | 5 | 52 | |||||||||
| Inventories | 34 | 160 | |||||||||
| Trade Receivables | 5 | 93 | |||||||||
| Cash Equivalents | 87 | 100 | |||||||||
| Others Assets ⓘ | 82 | 66 | |||||||||
| Total Assets ⓘ | 514 | 931 | |||||||||
| PARTICULARS | Mar'25 | Mar'26 |
|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 167 | 255 |
| Cash Flow From Investing Activity ⓘ + | -86 | -234 |
| Cash Flow From Financing Activity ⓘ + | -35 | -3 |
| Net Cash Flow ⓘ | 47 | 19 |
| PARTICULARS | Mar'25 | Mar'26 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 59.06 | 67.88 | ||||||||
| ROCE (%) | 49.79 | 63.74 | ||||||||
| Asset Turnover Ratio | 1.12 | 1.47 | ||||||||
| PAT to CFO Conversion(x) | 1.08 | 0.84 | ||||||||
| Working Capital Days | ||||||||||
| Receivable Days | 2.90 | 16.80 | ||||||||
| Inventory Days | 21.70 | 33.30 | ||||||||
| Payable Days | 66.10 | 45.90 | ||||||||
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Websol Energy System Ltd FAQs
The current trading price of Websol Energy System on 11-Sep-2026 16:01 is ₹75.89.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Websol Energy System stood at ₹3,277.5 Cr
The latest P/E ratio of Websol Energy System as of 10-Sep-2026 is 10.45.
The latest P/B ratio of Websol Energy System as of 10-Sep-2026 is 4.63.
The 52-week high of Websol Energy System is ₹137.9 and the 52-week low is ₹50.39.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Websol Energy System is ₹1,203 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Websol Energy System Ltd is a below average quality company.
The key valuation ratios of Websol Energy System Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Websol Energy System Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Websol Energy System Ltd
Webel-Sl Energy Systems, is a leading producer of Solar Photovotaic Cells and Modules in India. It is one of the fastest growing companies within the solar photovoltaic industry in India with a 30 per cent annual growth rate and a 10 MW manufacturing facility for cells and modules.
Solar cells are being produced at the company's state-of-the-art integrated production facility in Kolkata with automated processes and a unique captive technology. In this integrated production system, Webel Solar produces high efficiency photovotaic cells and modules using mono-crystalline silicon wafers. A high standard of quality is maintained throughout the entire process of making cells to modules.
Webel Solar has established the reputation for making highly reliable photovoltaic modules for various domestic and commercial applications. All Webel Solar's modules are suitable for grid-connected and stand-alone power plants of high performance and reliability.
Webel Solar Modules are made with high efficiency solar cells. Every single cell is electrically matched to minimize losses, for making modules suitable for commercial as well as domestic applications Webel Solar modules have been tested for their suitability for grid connected as well as stand-alone systems offering high performance and reliability.
The solar photovoltaic module is manufactured with mono-crystalline solar cells conforming to strict requirements of international quality standards.
Milestones:
- 1995-1997 Production commenced with technical support from a European established Company. The company processed 5' wafers. Installed capacity: 1 MW.
- 1998-1999 Production evolved to 6' wafers and modules upto 95 Wp for type W900. A quality cetificate for JRC-ISPRA IEC 61215 standards was obtained.
- 2000-2001 Production commenced on 8' wafers. Module capacity increased to 125 Wp. For type W1000. Intalled capacity - 3 MW
- 2002 The JRC-ISPRA IEC 61215 standards certificate was obtained for all W1000 modules. UL 1703 listing was obtained for all W900 type modules
- 2003 Installed capcity increased from 3 MW to 5 MW. UL 1703 listing was obtained for W1000 type modules. Production of 160/190 Wp modules commenced.
- 2009 - 30 MW cell & module line installed and commissioned
Solar PV cells and modules trial production started in May 2009
Received IEC 61215 and IEC 61730 certification for 180 Wp and 225 Wp module
Established representative offices in USA and Germany - 2011 - The Company has signed a Joint Venture Agreement on February 21, 2011 with M/s Gopika Infrastructure LLP for the development of its land situated at Plot No. 1, Block - GP, Salt Lake Electronics Complex, Kolkata - 700 091.
Product range of the company includes:
- Photovoltaic Module- W1000
- Photovoltaic Module- W900
- Photovoltaic Module- W250, W250B
- Photovoltaic Module- W200
- Photovoltaic Module- W450,W55
- Photovoltaic Module- W55A
- Photovoltaic Module- W50C
- Photovoltaic Module- W08, W10
Achievements/ recognition:
Type Approval Certificate PV-MQ-274/02Qualification Certificate PV-MQ-200/99.
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