Websol Energy shares rise over 5% on stock split, solar expansion plan

Shares of Websol Energy System rose over 5% on Tuesday after board of the firm announced a stock split  and announced major solar expansion plan worth Rs 3,000 crore. The board declared a stock split in the ratio of 1:10, aimed at increasing stock affordability and accessibility for retail investors, according to a recent exchange filing.

The stock rose 5.33% to Rs 1414.70 today against the previous close of Rs 1343.05 on BSE. Market cap of the firm stood at Rs 5862 crore. 

Additionally, the company has approved a major expansion plan involving a Rs 3,000 crore investment to boost its solar manufacturing capacity by 4GW across both solar cells and solar modules. This expansion includes the operational start of an additional 600 MW solar cell line expected in October 2025, co-located at its current site in Falta, West Bengal. The existing facility operates at 90% utilisation, with Phase I comprising a 600 MW solar cell line and a 550 MW solar module line.

The expansion will elevate Websol’s total solar cell capacity to 1.2 GW, with funding sourced entirely from internal accruals. This strategic move underscores Websol's commitment to scaling its operations and enhancing its market position in the renewable energy sector.

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.

Sohan Lal Agarwal, Managing Director, Websol Energy System, said, “Websol has always focused on staying ahead of the curve and this capacity expansion marks a major milestone in our growth journey. From being one of India’s earliest solar cell and module manufacturers, we are now moving into a multi-gigawatt phase of expansion, reflecting our commitment to advanced technologies and an integrated cell and module value chain. With Phases III and IV, our solar cell and module capacities will reach 5.2 GW and 4.5 GW by 2028, playing an important role in achieving India’s goal of 280 GW of solar power by 2030."

Websol Energy System Limited specializes in producing high-efficiency solar cells and modules incorporating advanced Mono PERC technology.