Date: August 14, 2026

Financial Performance Summary

Quarterly Results (Q1 FY27 vs Q1 FY26)

| Metric | Q1 FY27 | Q1 FY26 | YoY Change |

| Total Income | ₹ 1780.3 Mn | ₹ 805.5 Mn | +121% |

| EBITDA | ₹ 206.6 Mn | ₹ 211.4 Mn | -2% |

| EBITDA Margin | 11.6% | 26.2% | -1460 bps |

| EBIT | ₹ 187.6 Mn | ₹ 209.7 Mn | -11% |

| PAT | ₹ 95.0 Mn | ₹ 129.1 Mn | -26% |

| PAT Margin | 5.3% | 16.0% | -1070 bps |

| Basic EPS | ₹ 1.10 | ₹ 1.74 | N/A |

Full Year Comparison

| Metric | Q1 FY27 | FY26 |

| Total Income | ₹ 1780.3 Mn | ₹ 14160.7 Mn |

| EBITDA | ₹ 206.6 Mn | ₹ 1879.3 Mn |

| PAT | ₹ 95.0 Mn | ₹ 1204.7 Mn |

Performance Drivers

  • Total income growth of 121% YoY was primarily driven by robust performance in the EPC segment
  • Despite significant revenue growth, profitability metrics declined with EBITDA down 2% and PAT down 26% YoY
  • Margin compression was significant with EBITDA margin declining from 26.2% to 11.6% and PAT margin from 16.0% to 5.3%

Business Updates and Operational Highlights

Manufacturing Capacity Expansion

  • Module Manufacturing: 1.552GW facility spread across 7.5-acres in Roorkee, Uttarakhand
  • Equipped with fully automated ATW and Horad lines
  • Commissioned in July 2025
  • Manufacturing high-efficiency TOPCon solar panels ranging from 610W to 750W
  • BESS Facility: 3.4 GW fully automated battery energy storage systems facility
  • Equipped with KUKA robotics
  • Facility ready, product launch in market shortly
  • Junction Box Line: 5 GW capacity developed through joint venture
  • Production has commenced
  • Solar Cell Facility: 1.2 GW facility under development
  • Commercial operations targeted by June 2027

Order Book and Execution Capabilities

  • Total order book value: ₹ 27,275 million as of June 30, 2026
  • Execution experience across more than 60 completed and pipeline projects
  • 348 MW DC of EPC capacity installed to date

Management Commentary

Mr. Kartik Teltia, Managing Director, commented:

  • Q1 FY27 reflected a resilient start to the financial year with consistent execution across solar EPC, manufacturing and energy storage businesses
  • Continued improvements in project mobilization, resource deployment and operating processes position the company to accelerate delivery in coming quarters
  • Established order book offers healthy revenue visibility
  • Participation in several solar EPC and BESS tenders provides additional growth potential
  • Anticipates gradual improvement in execution and financial performance as ongoing projects advance through key milestones

Strategic Focus

  • Battery Energy Storage Systems remain central to growth strategy due to increasing role in renewable energy integration and grid reliability
  • Building capabilities across BESS EPC delivery and manufacturing
  • Selectively pursuing projects that meet commercial and return objectives

Forward Priorities

  • Timely project completion
  • Prudent bidding
  • Stronger operational efficiency
  • Continued development of energy storage platform and backward integration initiatives

Company Background

Solarworld Energy Solutions Limited is a leading renewable energy company with:

  • Over 13 years of experience
  • 1GW+ project portfolio across India
  • Headquarters in Noida
  • Services include end-to-end Solar EPC, large-scale Solar Park Development, and customized rooftop and ground-mounted solar solutions for commercial, industrial, and utility clients
  • Driving India's transition toward sustainable and self-reliant clean energy future