Will the tax rate change now that the company is no longer loss making? Also the company mentions that there is only a 600mw cell line in the pipeline and there are no subsidiary or collaboration ?
Company has confirmed on next 600 MW expansion plan to be on track - this is encouraging. However it also says âThe Company has no subsidiary, associates and joint ventures companies as on 31st March, 2025.â. So the news about World Green energy (or some similar company name) seems to be a hoax then.
There is no info on third phase however they should inform about the collaboration with World green energy at an appropriate time as per SEBI LODR. Mr. SL Agarwal being the director as per MCA website is not a hoax. Letâs us wait for official confirmation.
They also missed to report the addition of PV DC Generators in their product portfolio as they reported to Falta SEZ management. A very tiny price range of that product or 100% Export might be the reason.
Appointment of Churchgate IRA resulted in timely intimation of order receipts and adding tabular column in the press release along with forward looking statement. 
They could have done better.
Websol already secured orders for 65% of module capacity, 65% of existing cell capacity assuming 70% and 90% utilization respectively. Remaining 135 MW DCR module orders can be expected or it could be sold in non DCR market. However, keeping the upcoming ALMM List-2 obligations in mind and big shortage of DCR modules as per other solar companies concalls, it will be nice if they try to sell the entire module capacity in DCR category.
If Cell Line 2 commissioned without any delay then it should be appreciated as buyers will be queuing up at Websolâs gate at least till 2027.
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The US International Trade commission too is inline to implement the huge AD/CVD duties. Final determination is expected on 2nd June. Tariffs shall be collected from 16th June for solar cell and module imports from Cambodia, Malaysia, Thailand & Vietnam.
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Good for websol?? Whatâs your take on recent Trump bill and itâs effects⌠mostly non event for websol?
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It is a non event for Websol now as they have very minimum US export exposure. However, It may affect the entire Indian solar value chain in the long run may be by 2028. Overcapacity, thin margin coupled with Chinaâs control of polysilicon is a deadly combo for destruction.
US market provided good margin for Indian players due to high AD/CVD against China solar panels.
Mr. Trump is removing all the incentive for local solar manufacturing and also stopped most of the solar projects in USA in support of reducing dollar outflow which is like he covered the entire USA from the SUN but they will end up in dark.
Fossil source may give immediate economical relief to USA but will kill them in long run.
Mr. Musk is inclined towards Solar as he is lecturing how civilization can get closer to Kardashev scale. Too ambitious.
It is profound to say that our civilization has to harness the sun energy which is abundant and long lasting than focusing too much on cost reduction for the sake of politics.
Mr. Trump lead USA may realize this mistake by end of his term and it will be too late by then.
It is my personal view. As this world is very uncertain, Time can only produce some reliable answer. We have to wait and watch.
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So, as per the media outlets, it is 2 GW Cell and 1.2 GW module line with an investment of 2500 Crores. Letâs wait for official confirmation.
Please read âRs 2,500 crore by World Green Energy Private Limited creating 2,500 jobs. All these projects will also be located in the Tata Steel SEZ.â
Please read 'while World Green Energy will develop a 2.00 GW cell and 1.20 GW module manufacturing unit â further positioning Ganjam as a green energy hub of national importance."
Odisha CM Lays Foundation For âš20,500 Cr Green Energy, Industrial Projects At Gopalpur
Two different figures by two medias but something surely happened.
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So the earlier said capacity was more?
Though, the earlier capacity was more, I felt the investment amount of Rs. 1475 Crores was not at all enough for such a big capacity.
This time, as per the Odisha Govt and Industries ministerâs X handles, the investment amount of Rs. 2500 Crores looks to be believable because a stateâs CM was there for stone laying ceremony and plantâs 3D miniature was displayed and explained to CM by Mr. Srinibash Sahoo. He and his team had ID cards with WGE logo. 
Referred X post of @SampadSwainBJP
But there is no clarity on the capacity yet. with Rs. 2500 Crores, surely they can establish a 2 GW Cell and 1.2 GW module plant but definitely not 4 GW Cell and 1.2 GW module plant as earlier reported.
This estimate matches with Saatvik Green energyâs investment of Rs. 3500 Crores for 4.8 GW cell and 4 GW module capacity at the adjacent plot at TATA Steel SEZ, Gopalpur.
Though, It is a good news, I have few questions in mind without answers.
- Saatvik got EC for 2 GW Cell and 4 GW module facility from MoEFCC and got all other clearances including land allocation, Odisha PCB approval, CTE, etc. However, suddenly yesterday they announced a 4.8 GW cell and 4.0 GW module facility at the ground breaking function.
- Not found any document on EC revision, etc., Just like that capacities are getting doubled.
- World Green energy didnât even apply EC yet. It will take 4-5 months for EC approval then they may start constructing the plant or EC may not be required under single window clearance investments. (need to check this).
- Usually, the Govt. functions in which Politicians participate gets arranged in quick time to promote them better to public (PR). Many a times, Industrialist are forced to over commit and invest.
Keeping the above in mind, Only the real progress at the site will tell us the final capacity. Let us hope that Websol announces their association with world green energy with firm capacity figures soon.
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Yes , the fact that we are sitting at the cusp of an inflection point is what excites me. Gone are those days of sub 100 rs share price and sub 300cr market cap. Now 300cr pat runrate is the next milestone which is almost certain!
Would appreciate the company being more proactive but I still see a lot of potential for Websol from here if they address the usual concerns of capital allocation, timeline and succession planning! I would not be surprised to see Websol where Premiere Energy is right now in few years down the line ! Itâs very much possible if the execution happens with precision and speed!
From where we are sitting and based on the previous public commitments we are already looking at 4x current cell capacity at 2.4Gw so I wouldnât be surprised if we are a 25000cr mcap company in couple of years with same valuations owing to sustained expansion plans to atleast 5gw cell capacity!
My late night ramblings havenât failed me in Websol, hopefully it doesnât fail me now. For me Websol is another 2-3 years story where I actively track it but will always be a lifetime of lessons and my entry to the THE GREAT INDIAN STOCK MARKET!
Quoting the management from the last Annual Report
~ BOLDNESS IS EVERYTHING
Onwards and Upwards!
Special mention to @Iampearl for doing the heavy lifting for Websol and always being kind enough to keep researching and sharing! Thanks mate
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https://www.perplexity.ai/search/role-you-are-a-world-class-equ-2yP8MQ1.S_.z.xqcCy6gaw
#Websol
Have made G.O.A.T of all prompts with all measures for avoiding hallucinations and incorrect data,
Checkout and use and modify!
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My two cents on the DCR Solar Cell Demand
it is based on the revamped DCR portal data and my opinions formed by own readings.
As on today i.e. end of half year 2025, total Cells manufactured is 6.3 GW by 14 manufacturers and total Modules is 6.5 GW by 40 Manufacturers. It would be close to 13 GW each on annual basis without considering the upcoming cell and module capacities.
However, the major DCR demand driving scheme, The PM Surya Ghar: Muft Bijli Yojana aims to install 30 GW of rooftop solar capacity by March 2027.
So, Just to make this one scheme of Govt. successful, Govt. needs another 13 GW of new capacity of Cells in next two years.
if we add The PM-Kusum scheme which has a shorter deadline of March 2026 to achieve 34.8 GW and other projects of Central and State PSUâs, the total DCR Cell demand is close to 100 GW.
Refer page. no.13 of below document from premier.
https://www.bseindia.com/xml-data/corpfiling/AttachHis/7c76fb1a-fa28-40af-b7fd-befa2d03a25e.pdf
We have been informed by the Govt. and various media portals that India achieved a Solar Cell manufacturing capacity of 25 GW in 2025.
https://www.pib.gov.in/PressReleasePage.aspx?PRID=2116602
but the actual production is just 6.5 GW half year and 13 GW on annualized basis. of course, still capacities are expected to become online but 25 GW production by end of 2025 is not a possibility i guess.
The real Progress:
On the other hand, As of 10th March 2025, the PM Surya Ghar scheme has facilitated the installation of over 3 GW of rooftop solar capacity, with an additional 27 GW targeted by March 2027.
https://www.pib.gov.in/PressReleaseIframePage.aspx?PRID=2111106
The below is the PM Kusum target and the actual achievement till 30-05-2025.
I am perplexed on how these humongous targets can be achieved by March 2026 with just 13 GW of Cell production.
However, Websol will enjoy till DCR demand is there and it is still a far away dream for India to achieve this intended Cell capacity which shall complement the planned DCR GW installation via various schemes. Hope, implementation of ALMM List-2 for Solar Cells is not postponed due to these huge demand-supply gap.
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How would you interpret this?
Do you think this will divert revenue from the listed company?
Probably DRHP creator has put in his understanding of fair value of Websolâs price 
And revenue usne phase 3 ka bhi add kar diya hai
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Unless until the Company opens up about the next phase of expansion, everything shared here is just an assumption only. However, your question of diverting the revenue from listed company doesnât make sense to me.
I donât know how this question was framed in your mind but just imagine yourself as a promotor of Websol which is turning around to profit making business in a favorable policy environment. Kindly respond with an answer on why and how will you siphon off revenue from a listed company?
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even in that case, it is an injustice to the other two companyâs valuation. It is just a typo error but its not acceptable as it is done by Bankers.
No what I meant is are they booking business in this new company, which otherwise wouldâve been in Websol. Otherwise whatâs the reason for establishing a new company?
Again, just thinking out loud here, not pointing any fingers
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This is my pure guess & nothing concrete here.
INC-33_INC33 eMOA_13_06_2025.pdf (1.1 MB)
Bright Earth Cellâs MOA is as same as World Green energy except on few things like importing machinery and end products like solar pumps and appliances.
INC-33_INC33 eMOA_11_01_2025.pdf (2.1 MB)
So, M/s. Bright earth cell Pvt. Ltd may be used by Websol to establish a JV/ SPV with World Green energy for the third phase of expansion at TSSEZL, Gopalpur as per the below combo. Bright Earth Cell may provide loan via shares & debentures, technical know how of cell and module including licenses and patents if any & complete machinery import support. On the other hand, World Green energy may provide necessary industry licenses, approvals, land, building and manpower, etc.
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