Result is on expected line with a surprise announcement.
Please find below an excerpt from Waaree Energies Ltd DRHP. They recognised Websol as the only listed peer to them as on december 2023. However, it looks like they picked websol to project good numbers to the investors as websol figures are dented due to ongoing capex and old line impairment loss.
So, listing of Waaree should rerate Websol as Websol’s goal post has changed from Cell- Module line to integrated line starting from Ingots -wafer-Cell-Module (Polysilicon would be procured from China or local manufacturers). if this happens, Both waaree and Websol would share the same business segments and both will procure polysilicon outside. of course, there will be a huge difference in final module capacities.
Let us hope Websol starts producing numbers at the time of listing of Waaree energies Ltd.
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