Solarworld reports Rs 9.50 cr profit as it starts 1.2 GW cell line
Operating margin was 6.56%, while other income of Rs 9.73 cr made up a substantial part of pre-tax profit.
Filed 14 Aug 2026, 16:57 IST · after market close · SOLARWORLD (SOLARWORLD)
Key takeaways
- Consolidated net profit was Rs 9.50 cr, but other income of Rs 9.73 cr formed a substantial part of profit before tax.
- Operating margin was 6.56%, while interest expense of Rs 6.03 cr remained material relative to operating profit.
- Management said work had begun on a 1.2 GW solar cell line, alongside a trial for a 3.4 GW BESS manufacturing facility.
Profit was supported by non-operating income
Solarworld's consolidated Q1FY27 operating profit was Rs 11.05 cr on revenue of Rs 168.42 cr, resulting in a 6.56% operating margin. Net profit was Rs 9.50 cr, but other income of Rs 9.73 cr formed a substantial part of profit before tax of Rs 12.85 cr. Reported profit therefore needs to be read alongside the contribution from non-operating income.
Interest remained a material charge
Interest expense was Rs 6.03 cr against operating profit of Rs 11.05 cr, making financing costs an important factor in the conversion of operating earnings into pre-tax profit. The tax rate was 26.10%, so the tax line also reduced the reported profit available to shareholders. No quarter-on-quarter or year-on-year driver data is provided to identify a change in cost growth or margins.
Cell and storage expansion broadens the business scope
Management said it had initiated work on a 1.2 GW solar cell line and that a trial was underway for a 3.4 GW BESS manufacturing facility. The company also said it plans to increase captive module and cell consumption to reduce supply-chain dependency and improve margins. Management further said it aims to broaden its PSU and private-sector reach, while the presentation flags client concentration risk and arbitration involving one SJVN Green Energy project.
Results were filed after market close
The consolidated results were filed after market close on 14 Aug 2026. The stock's post-results move is not covered here because the filing was too recent for a market reaction to be available.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹168 cr |
| Other income | ₹10 cr |
| Expenses | ₹157 cr |
| Operating profit | ₹11 cr |
| Operating margin (%) | 6.56% |
| Interest | ₹6 cr |
| Depreciation | ₹2 cr |
| Profit before tax | ₹13 cr |
| Tax | ₹3 cr |
| Net profit | ₹10 cr |
| EPS (₹) | ₹1.10 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
Expansion
- The company has initiated work on a 1.2 GW solar cell line.
- The company has a trial underway for a 3.4 GW BESS manufacturing facility.
New orders
- The company secured entry into BESS with multiple PSU orders.
New initiatives
- The company plans to enhance captive module and cell consumption to improve margins and reduce supply-chain dependency.
- The company plans to broaden its reach across PSU and private-sector segments.
Problems & risks
- The company identifies supply-chain dependency as an issue it aims to reduce through captive consumption.
- The company identifies client concentration risk as an issue it aims to reduce.
- One SJVN Green Energy project is currently under arbitration.
What to watch
- Whether operating margin holds above 6.56% in the next quarter.
- The next quarter's other income against Rs 9.73 cr reported in Q1FY27.
- Progress on the 1.2 GW solar cell line and the 3.4 GW BESS facility trial.