Websol Energy System to Commence Commercial Production in New 600 MW Cell Line in July 2025
Websol Energy System Ltd., a Kolkata-based solar PV cell and module manufacturer, has advanced its 600 MW mono PERC cell line expansion at Falta, West Bengal, with equipment procurement underway. Commercial production is expected to start by July 2025.
December 24, 2024. By Mrinmoy Dey
The company in October intimated about the additional capacity of a 600 MW mono PERC Cell line at the Falta plant with an investment of about INR 220 crore. In continuation of the said disclosure, the company has announced that it has placed a purchase order for equipment and has made advance payments for the said project.
This new line is expected to be installed and commissioned in the first quarter of 2025-26. “Accordingly, the commercial production is estimated to commence in July 2025,” the company informed in an exchange filing.
Last year, the company undertook significant capacity expansion by installing a 600 MW mono PERC bifacial cell line (with the ability to be upgraded to TOPCon technology) and 550 MW module line at its factory in Falta, West Bengal.
For Q4 ended March 31, 2024, the company reported revenue from operations of INR 24.87 crore (pertaining to 45 days of production as the commercial start was on February 14, 2024) in comparison to INR 0.51 Crore in the last quarter ended March 31, 2023.
For the Financial Year 2023-24, the company reported INR 25.86 crore compared to INR 17.22 crore reported in the last Financial Year. During the Financial Year 2022-23, the company had dismantled its entire 250 MW cell line which has now been replaced with a new 600 MW cell line.
The company recorded a net loss of INR 58.57 Crore in the fourth quarter ended March 31, 2024 and a net loss of INR 120.96 crore for the Financial Year ended March 31, 2024. “The reason for such losses is that the plant was shut for 18 months during which there was no revenue. Moreover, since the old 250 MW line had to be replaced with a completely new line, an impairment of INR 96.86 crore has been recorded, included in such losses,” the company reasoned in a statement.
However, the company has now renewed production and has begun to post healthy revenue figures starting Q4, 2024. Also, the company has gradually reduced its liabilities throughout the last financial year, strengthening its competitive position.
In Q1 and Q2 of FY24-25, the company posted revenue from operations of INR 111.60 crore and INR 143.55 crore respectively, aggregating to INR 255.16 crore for the first half of FY24-25. The net profit too soared up to INR 64.88 crore – INR 22.88 crore in Q1 and INR 41.98 crore in Q2 FY24-25.
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