Websol Energy System rises on getting nod for capacity expansion with investment of Rs 3,000 crore
Websol Energy System is currently trading at Rs. 1350.60, up by 7.55 points or 0.56% from its previous closing of Rs. 1343.05 on the BSE.
The scrip opened at Rs. 1414.70 and has touched a high and low of Rs. 1414.70 and Rs. 1346.00 respectively. So far 16655 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1891.10 on 08-Jan-2025 and a 52 week low of Rs. 802.20 on 05-Mar-2025.
Last one week high and low of the scrip stood at Rs. 1414.70 and Rs. 1275.00 respectively. The current market cap of the company is Rs. 5683.08 crore.
The promoters holding in the company stood at 27.71%, while Institutions and Non-Institutions held 4.83% and 67.47% respectively.
Websol Energy System has received board’s approval for a phased expansion plan of its manufacturing capacity by total of 4 GW of solar cells and 4 GW of solar modules through a wholly owned subsidiary. This expansion plan will result in a total investment of around Rs 3,000 crore. The capacity expansion plan builds on the company’s existing capacity (Phase I) of a 600 MW solar cell line and 550 MW solar module line at Falta, West Bengal. The solar cell line is operating at an effective capacity utilisation of 90%. Both these lines were funded through a combination of internal accruals, preferential issue of equity shares and lending facilities from financial institutions.
An additional 600 MW solar cell line (Phase Il), co-located at Falta, is scheduled to become operational in October 2025. This line has been funded completely through internal accruals and will take company’s total solar cell manufacturing capacity to 1.2 GW. As part of the company’s overall strategy, the Board of Directors has now approved plans to significantly scale up its manufacturing platform in response to the rapidly increasing demand for solar power in India. The additional solar cell capacity will be based on Topcon technology.
The expansion will be executed in two phases i.e. Phase III and Phase IV. In Phase III, the company will add 2 GW solar cell line and 2 GW solar module line by June 2027, while in Phase IV, the company will add 2 GW solar cell line and 2 GW solar module line by June 2028. The total investment for Phase III and Phase IV will be financed through a combination of internal accruals and lending facilities from financial institutions.
Websol Energy System is a leading manufacturer of solar cells and solar modules based in India.
