Websol plans for solar future
Websol, India’s oldest solar module maker, is preparing for the future with a generational shift in leadership. Sohan Lal Agarwal, the company’s Managing Director, is gradually handing over the reins to his granddaughter, Sanjana Khaitan, who is the Executive Director.
Agarwal, an octogenarian, looks at Khaitan with pride, saying she is the future of the company. Websol began its operations in 1990, when the word ‘solar’ was mostly associated with space and astronomy.
Today, the company is expanding its capacity at its plant in Falta SEZ, near Kolkata. Websol currently has two cell lines, each with a capacity of 600 MW. The second line is to be expanded to 750 MW, with a change in technology from mono-PERC to TOPCon, taking the total capacity to 1.35 GW by January 2027.
A 2.2 GW Line-III is also being set up, which the company hopes will be production-ready in 2027. Websol intends to invest ₹2,200 crore to make 5 GW of ingots and wafers, although no timeline has been decided yet, according to Khaitan.
The company has decided not to proceed with its earlier plan to invest ₹3,538 crore in Naidupeta, Andhra Pradesh, due to the changed political situation in West Bengal. The new BJP government in the state is keen on industrialisation and is offering incentives for new factories. This change in policy has led Websol to focus on its existing facilities.
Agarwal has also decided to adopt a partnership approach for module manufacturing, rather than expanding the company’s module manufacturing capacity in line with cell capacity. Websol had earlier been in talks with Chennai-based Swelect Energy Systems for a partnership, which will allow it to focus on regulation power and other core areas.
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This approach differs from the industry trend of integrated manufacture of cells and modules. Agarwal believes that centralised cell manufacture and decentralised module manufacture is a better approach, as it avoids the need to ferry bulky modules across the country.
Agarwal recalls the difficult times when banks wanted to auction off Websol to collect their dues. He had stepped aside, but when the banks could not sell the company, he asked for a year’s time to repay the loans.
Luckily for him, it was 2009-10, when the solar industry was in its infancy and nurtured for growth. The company’s fortunes changed when Chinese company Renesola took Websol’s facilities on a contract to make modules for four years. Websol repaid its loans and a new growth cycle started.
Today, Websol appears to be on much firmer footing. In the first quarter of 2026-27, the company recorded a turnover of ₹373 crore, an EBITDA margin of 34 per cent, and a net profit margin of 21 per cent.
As the company continues to expand its capacity and adopt new technologies, it is well-positioned to take advantage of the growing demand for solar energy in India. Websol’s approach to module manufacturing is unique, allowing it to focus on its core strength of cell manufacture.
The company’s ability to adapt to changing market conditions and adopt new technologies has allowed it to stay ahead of the competition. Websol is well-positioned to take advantage of the opportunities that arise in the solar industry.
