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Websol Energy System Limited (WEBELSOLAR) Fair Value & Analysis

Technology · IN · Market cap ₹46.0B

WE Websol Energy System Limited WEBELSOLAR · NSE
Price₹82.80
Fair Value₹149.75
Upside+80.9%
Quality52/100
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Mixed Growth
Highly profitable · 28.9% net margin
Low debt · generates free cash flow
Ranks above peers (10/14)
Wide moat 93/100
Evidence: High Range ₹66.22 – ₹333.63 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 4 days ago

Share price −20.6% over the past month.

A solid business, screening 81% undervalued on our models.

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What matters now

  • The model range is unusually wide (₹66.22 to ₹333.63). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

₹183.70 ₹3.97 Fair Value ₹149.75 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹3.97 – ₹183.70 · fair‑value band ₹66.22 – ₹333.63 · the ₹82.80 price screens below the ₹149.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Websol Energy System Limited (WEBELSOLAR) currently trades at ₹82.80, while our model-based Fair Value estimate is ₹149.75, implying the stock looks roughly 80.9% undervalued today. The Quality Score stands at 52/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Websol Energy System Limited generated revenue of ₹10.5B at a net margin of 28.9%. Revenue grew 132.1% year over year. It earns a return on equity of 66.7%. Net debt stands at ₹644M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹66.22 (bear case) to ₹333.63 (bull case); at ₹82.80, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 47% below its 52-week high and 64% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -6% fair-value upside, at 81%, WEBELSOLAR screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹27.02 ₹54.07 ₹98.39 80
Residual Income ₹79.83 ₹160.37 ₹5,365 76
Rev-Margin DCF ₹77.94 ₹154.05 ₹312.24 74
All 26 models by family
DCF Models
FCF DCF ₹28.76 ₹45.51 ₹98.83 38
Owner Earnings ₹66.28 ₹151.40 ₹330.08 31
5Y Revenue Exit ₹69.79 ₹134.83 ₹272.10 39
5Y EBITDA Exit ₹108.19 ₹212.48 ₹417.78 41
5Y P/E Exit ₹118.24 ₹294.94 ₹540.92 38
10Y Revenue Exit ₹55.76 ₹154.68 ₹227.53 36
10Y EBITDA Exit ₹87.27 ₹237.36 ₹512.69 37
10Y P/E Exit ₹94.60 ₹259.01 ₹541.29 35
Earnings-Based
Graham-Dodd ₹47.46 ₹330.96 ₹464.45 54
Lynch FV ₹170.98 ₹244.26 ₹317.54 50
PEG = 1.0 ₹170.98 ₹244.26 ₹317.54 46
EPV ₹67.67 ₹79.02 ₹88.95 59
Dividend Discount
Gordon GGM ₹0.1900 ₹0.4000 ₹0.6300 70
DDM Multi-Stage ₹0.1900 ₹0.3400 ₹0.4200 61
Multiples
P/E Multiple ₹146.56 ₹195.41 ₹244.26 63
P/S Multiple ₹88.98 ₹118.64 ₹148.30 58
P/B Multiple ₹65.37 ₹87.16 ₹108.95 55
EV/EBIT ₹151.70 ₹202.41 ₹253.13 53
EV/EBITDA ₹132.81 ₹177.23 ₹221.64 54
EV/Revenue ₹76.48 ₹109.44 ₹142.40 43
Asset-Based
NCAV (Graham) ₹7.26 ₹9.73 ₹14.53 50
Growth DCF
Growth DCF ₹27.02 ₹54.07 ₹98.39 80
Rev-Margin DCF ₹77.94 ₹154.05 ₹312.24 74
Economic Profit
Residual Income ₹79.83 ₹160.37 ₹5,365 76
ROIC Compounder ₹85.63 ₹127.60 ₹182.40 72
Growth Earnings
Growth-Adj P/E ₹246.90 ₹352.72 ₹458.53 68

Widest divergence: Growth Earnings (₹352.72) versus Dividend Discount (₹0.3400). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹10.5B
Revenue growth (YoY) +132%
Net margin 28.9%
Return on equity 66.7%
Free cash flow ₹753M FY2026
P/E ratio 11.9
More key figures
Operating margin 30.5%
EPS (TTM) ₹6.98
EPS growth (YoY) +144%
Net debt ₹644M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 53 · Market factors (momentum, volatility) 35

Profitability 97
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 37
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 5
Disciplined investing over empire-building
Low Volatility 53
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Websol Energy System Limited manufactures and sells solar photovoltaic (PV) cells and modules in India. The company was formerly known as Websol Energy Systems Ltd. and changed its name to Websol Energy System Limited in October 2011. The company was incorporated in 1990 and is based in Falta, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Websol Energy System Limited reported revenue of ₹10.5B in FY2026 versus ₹2.1B in FY2022, a compound +48.9%/yr. Reported net income was ₹3.0B in FY2026, compounding +136.6%/yr from FY2022.

Growth Quality 72/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹10.5B
Latest YoY
+82.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+293.5%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+46.9%
Avg. growth/yr (20Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.7%
Revenue +48.9%/yr
FY22 ₹2.1B
FY23 ₹172M
FY24 ₹259M
FY25 ₹5.8B
FY26 ₹10.5B
Net income +136.6%/yr
FY22 ₹96.7M
FY23 −₹237M
FY24 −₹1.2B
FY25 ₹1.5B
FY26 ₹3.0B

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Cite: Fair Value Calculator (2026). "Websol Energy System Limited Fair Value". https://www.fairvalue-calculator.com/stock/WEBELSOLAR

Peer Group

Solar · 115 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 52 · Top 25%
Fair Value upside +81% · Top 25%
Return on equity (TTM) 67% · Top 25%
Return on assets 32% · Top 25%
Net margin (TTM) 29% · Top 25%
Operating margin (TTM) 31% · Top 25%
Revenue growth 132% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.14× · Lower than median

Valuation Multiples vs Solar median · lower = cheaper

P/E (TTM) 11.9× · Cheaper than 75% of peers
P/B 7.29× · Pricier than 75% of peers
P/S (TTM) 4.38× · Pricier than 75% of peers
P/FCF 0.6× · Cheaper than 75% of peers
EV/EBITDA 10.8× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 25
FUTURE 100 · sector 0
PAST 100 · sector 0
HEALTH 93 · sector 85
DIVIDEND 0 · sector 30

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Solar stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
First Solar, Inc FSLR $240.91 $392.12 +63%
Nextpower Inc NXT $103.67 $69.61 -33%
Waaree Energies Limited WAAREEENER ₹2,668 ₹2,709 +2%
Tongwei Co 600438 ¥12.89 ¥12.13 -6%
Jinko Solar Co 688223 ¥4.52 ¥6.47 +43%
Enphase Energy, Inc ENPH $40.77 $24.15 -41%
CSI Solar Co 688472 ¥10.28 ¥6.76 -34%
Hengdian Group 002056 ¥22.35 ¥31.86 +43%
Premier Energies Limited PREMIERENE ₹1,017 ₹648.94 -36%
Trina Solar Co 688599 ¥13.64 ¥7.97 -42%

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Frequently asked questions

Is Websol Energy System Limited (WEBELSOLAR) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹149.75 versus a price of ₹82.80, about +81% (undervalued).
What is the fair value of WEBELSOLAR?
Our model-based fair value for Websol Energy System Limited is ₹149.75 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹82.80.
What is the quality score of WEBELSOLAR?
Websol Energy System Limited has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Websol Energy System Limited (WEBELSOLAR)?
Websol Energy System Limited reported trailing-twelve-month revenue of about ₹10.5B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of WEBELSOLAR?
The net profit margin of Websol Energy System Limited is about 28.9%, meaning it keeps roughly 28.9% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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