Solarworld Energy Solutions Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹940 Cr
- P/E
- 8.03
- ROE
- 20.80%
- PEG
- 0.08
- Price to sales
- 0.64
- Debt to equity
- 0.30
- 52W high / low
- ₹338 / ₹108
- EBITDA margin
- 10.09%
- Net profit margin
- 8.74%
- Promoter holding
- 65.77%
- Sales (last year)
- ₹1,476 Cr
Incorporated in 2013, SolarWorld Energy Solutions Limited is a solar energy solutions provider specializing in engineering, procurement, and construction (EPC) services for solar power projects.[1]
Guidance scorecard · Q1 FY27 call
What Solarworld Energy Solutions Ltd's management guided
and where it ranks in Construction
Construction
RevenueQ4 FY26 call
40%+- FY26 saw strong revenue growth of 157%, with total income at INR1416 crores.
- FY27 revenue guidance is around INR2000 crores, expecting to convert about 70% of the INR2800 crore order book.
- Anticipated growth for FY27 is around 40%-45%, lower than FY26's 200%-250% surge.
- Quarterly revenue is expected to be weak in Q1 and Q2, with strong ramp-up in Q3 and Q4.
- BESS revenue to grow from zero in FY26 to INR800-1000 crores in FY27; solar EPC revenue to stay steady near INR1250 crores.
- Module line utilization expected to reach 40%-45% in FY27, possibly rising to 60%-65% as order inflows grow.
2 more points from Solarworld Energy Solutions Ltd's call on revenue
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MarginsQ4 FY26 call
FlatSee what Solarworld Energy Solutions Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- 3.4 gigawatt fully automated BESS manufacturing facility completed; trials underway with capex of approximately INR 55-60 crores already spent.
- 1.5 gigawatt solar module manufacturing facility operational since FY26 with a capex of around INR 146 crores.
- 1.2 gigawatt solar cell manufacturing facility under development, targeting commercial operation by June 2027; funds raised specifically for this will be utilized during construction phases starting around Q3 FY27.
- 5 gigawatt junction box manufacturing line being established via joint venture; site ready for trials.
2 more points from Solarworld Energy Solutions Ltd's call on capex
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FundraisingQ4 FY26 call
See what Solarworld Energy Solutions Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
Rising- Current order book: Approximately INR 2,800 crores as of May 2026.
- Breakdown: Solar EPC order book around INR 1,674 crores; BESS order book close to INR 1,136 crores.
- Expected to convert about 70% (approx. INR 2,000 crores) of the order book to revenue in FY27.
- Order intake remains strong due to PSU tenders; Solarworld executes 1 to 1.5 GW annually.
- BESS projects typically shorter timelines (~11-12 months), solar EPC longer (~14 months).
- Revenue guidance for FY27: Around INR 2,000 crores combining EPC and BESS.
2 more points from Solarworld Energy Solutions Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Construction
on management's own guidance
- 2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Construction companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹6,531 Cr | 11.7 | |
| 2 | Solarworld Ene.This stock | 40%+ | Flat | ₹1,089 Cr | 9.3 |
| 3 | 40%+ | Flat | ₹898 Cr | 7.6 | |
| 4 | 40%+ | Flat | ₹807 Cr | 14.7 | |
| 5 | 40%+ | Flat | ₹554 Cr | 13.1 | |
| 6 | 40%+ | Flat | ₹516 Cr | 30.7 |
Sign up free to see every company in the sector ranking and track Solarworld Energy Solutions Ltd.
Pro shows every company guiding 40%+ revenue growth →Full Construction rankingSolarworld Energy Solutions Ltd announcements
All announcements →- Acquisition / mergerNotableSolarworld Energy signs JV with Rays Power for 2.4 GW solar cell plant; 50% stake
- Acquisition / mergerNotableSolarworld board approves 50:50 JV with Rays Power for 2.4 GW solar cell plant
Financials of Solarworld Energy Solutions Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Solarworld Energy Solutions Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 23 | 142 | 204 | 176 | 68 | 138 | 578 | 592 |
| Expenses + | 17 | 112 | 145 | 163 | 60 | 123 | 514 | 534 |
| Operating Profit | 5 | 30 | 59 | 13 | 9 | 15 | 65 | 58 |
| OPM % | 23% | 21% | 29% | 7% | 13% | 11% | 11% | 10% |
| Other Income + | 1 | 1 | 1 | 3 | 12 | 3 | 10 | 16 |
| Interest | 1 | 2 | 2 | 2 | 3 | 4 | 6 | 7 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 2 |
| Profit before tax | 5 | 29 | 58 | 14 | 17 | 13 | 66 | 65 |
| Tax % | 51% | 23% | 27% | 32% | 26% | 27% | 26% | 24% |
| Net Profit + | 3 | 22 | 43 | 9 | 13 | 9 | 49 | 49 |
| EPS in Rs | 75.39 | 3.14 | 5.76 | 1.27 | 1.74 | 1.07 | 5.68 | 5.66 |
Financials of Solarworld Energy Solutions Ltd
Profit & Loss
Annual income statement trend
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales + | 28 | 232 | 501 | 545 | 1,376 |
| Expenses + | 26 | 211 | 432 | 438 | 1,229 |
| Operating Profit | 2 | 21 | 69 | 107 | 147 |
| OPM % | 8% | 9% | 14% | 20% | 11% |
| Other Income + | 5 | 4 | 7 | 6 | 40 |
| Interest | 4 | 6 | 7 | 6 | 21 |
| Depreciation | 0 | 0 | 0 | 0 | 5 |
| Profit before tax | 2 | 19 | 68 | 107 | 161 |
| Tax % | 9% | 23% | 24% | 28% | 25% |
| Net Profit + | 2 | 15 | 52 | 77 | 120 |
| EPS in Rs | 68.75 | 463.75 | 1,615.31 | 10.39 | 13.90 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Financials of Solarworld Energy Solutions Ltd
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.32 | 0.32 | 0.32 | 37 | 43 |
| Reserves | 7 | 22 | 73 | 272 | 804 |
| Borrowings + | 52 | 65 | 61 | 115 | 255 |
| Other Liabilities + | 8 | 34 | 20 | 174 | 585 |
| Total Liabilities | 67 | 120 | 155 | 598 | 1,688 |
| Fixed Assets + | 0 | 1 | 2 | 37 | 151 |
| CWIP | 0 | 0 | 0 | 88 | 43 |
| Investments | 6 | 7 | 9 | 7 | 0 |
| Other Assets + | 61 | 112 | 145 | 465 | 1,494 |
| Total Assets | 67 | 120 | 155 | 598 | 1,688 |
Financials of Solarworld Energy Solutions Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from Operating Activity + | -4 | -7 | 7 | 54 | -5 |
| Cash from Investing Activity + | -19 | 3 | 19 | -274 | -48 |
| Cash from Financing Activity + | 21 | 6 | -10 | 210 | 54 |
| Net Cash Flow | -1 | 2 | 16 | -9 | 1 |
| Free Cash Flow | -4 | -8 | 7 | -98 | -11 |
| CFO/OP | -173% | -14% | 29% | 84% | -0% |
Financials of Solarworld Energy Solutions Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 140 | 80 | 22 | 97 | 92 |
| Inventory Days | 30 | 3 | 2 | 2 | 33 |
| Days Payable | 65 | 23 | 12 | 67 | 138 |
| Cash Conversion Cycle | 105 | 60 | 12 | 32 | -13 |
| Working Capital Days | -35 | 20 | 28 | 56 | 29 |
| ROCE % | 35% | 68% | 40% | 24% |
Guidance history
How Solarworld Energy Solutions Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 40%+ | Flat | Planned | — | Rising |
| Q3 FY26 call → | 20–40% | Flat | Planned | — | Rising |
| Q2 FY26 call → | 20–40% | Up 0–2% | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
0 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −67.8% | 1% |
| Last 6 months | −44.9% | 1% |
| Last 3 months | −42.5% | 1% |
The price is 67.8% below its all-time high of ₹338.4 (29 Oct 2025). Stocks more than 20% below their peak have their score halved, so 1 became 0.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Solarworld Energy Solutions Ltd: 0.4 × 1 + 0.4 × 1 + 0.2 × 1 = 1, halved to 0 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Solarworld Energy Solutions Ltd's management said in earlier quarters
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