Polysilicon + Wafers (Ingots) + Cell + Module. This is the supply chain of Solar PV modules. Websol is having expertise in stage 3 and 4. i.e, Cell + Module (C+M) and sources Wafers from their loyal suppliers.
Websol used to procure raw material (Polysilicon and Wafers) from Chinese manufacturers before Covid-19 which dented their margins. However, after Covid-19, Websol has increased their procurement from Indian manufacturers drastically.
An extract from Annual report
Start:
Around 60% raw materials are sourced from Gujarat, consuming ten days in transit and reducing working capital outlay.
Around 80% of the suppliers have been associated with the Company for more than five years.
The Company purchases quality raw materials as per IEC and US standards.
The Company’s research and development team has been endeavouring to reduce the consumption of raw materials
The Company added three suppliers for silicon wafers, strengthening procurement
economies. The Company moderated its inventory of resources (gas and chemicals) where availability was assured. The consumption of silver paste declined 15% following changes in screen design and higher cell efficiency.
End.
Recently due to China+1 sentiment, the Chinese manufacturers have not increased their module price but increased Polysilicon and wafers price instead. This is again a positive for websol.
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