Vijay Kedia’s newest solar stock, Websol Energy System, has once again grabbed market attention. Websol Energy’s stock price locked in another 5% upper circuit following the announcement of its Q4 and full-year FY26 results. The rally comes on the back of robust earnings momentum, improving balance sheet strength, and continued investor confidence after ace investor Vijay Kedia’s recent entry into the company.
Websol Energy Q4 FY26 Performance
Websol Energy Q4 FY26 performance reflects a sharp acceleration in both revenue and profitability. The company’s revenue from operations marks a 132.1% year-on-year growth. The profit after tax has grown at a much faster pace, rising 157.9% to INR 125 crore.
For the full year, the company’s revenue increased 82.4% to INR 1,049 crore, while PAT almost doubled to INR 303 crore.
Websol Energy’s growth is capacity-led. The company has commissioned and ramped up its 600 MW Mono PERC cell line. The company’s capacity utilisation exceeded 90% in Q4. The company also planned the expansion of its 2 GW integrated facility and ongoing backward integration.
The company’s financial health also improved in FY26, and it reported a net cash surplus of INR 152 crore, against INR 118 crore of debt.
Order Book and Visibility Remain Strong
Currently, Websol Energy has an INR 1,161 crore order book, which gives a strong near-term revenue visibility. Sector tailwinds such as domestic manufacturing push, ALMM compliance requirements, and rising renewable capacity targets are also supporting this growth.
Market Reaction
Veteran investor Vijay Kedia has acquired 44,44,444 shares (around 1.02% stake) in Q4 FY26. This acts as a strong growth catalyst for the current rally. Websol Energy share price is currently in a strong uptrend, hitting upper circuits for three consecutive trading sessions. The latest earnings announcement has acted as a validation trigger, reinforcing investor confidence in the company’s growth trajectory.
At the current market price of INR 122, the stock is trading at a P/E of 17.4x, provides a margin of safety against 66.9% ROE. Valuation comfort also gets reinforced when you factor in the PEG ratio of just 0.11, suggesting that growth is being underpriced relative to earnings expansion.
Bottom Line: Websol Energy is gradually transitioning from a turnaround story to a structured growth play within India’s solar manufacturing theme. Strong earnings growth, improving balance sheet, capacity expansion, and sector tailwinds collectively make a compelling case.
However, after the recent rally, the narrative shifts from discovery to delivery. The next phase of value creation will hinge on how effectively the company scales its expanded capacity, maintains margins, and executes its integration roadmap.
Rajat Bhati has a strong technical background and 5 years of experience in the stock market. He focuses on equity research, technical analysis, IPO valuations, and risk management, helping investors make clearer, data-backed decisions. Today, he works full-time to educate people about the opportunities in IPO market.
