Websol Annual Report.pdf (5.8 MB)
A very interesting Annual Report was published by Websol. My key takeaways were that the company is looking at a 4x expansion in by FY 27 on its current cell business of 600 MW. Apart from that they might get into commercial wafers and ingots production apart from captive use and this might help them retain good margins. Also, they are entertaining getting into solar rooftop EPC side of the business.
With all these optionalities I see this company as a 25000 cr Mcap business in next 2-3 years if they are able to execute professionally like they have till now.
Disclaimer ~ All disclaimers are useless, we are all responsible for our own decisions. I am currently 92% net wealth invested in this company and I am up almost 90% in one month. This makes me biased but at the same time, I can sell and switch to any company without being liable to inform. My projections of 25000 cr mcap comes from a topline estimation of 2500-3000 cr topline with 10 Mcap to Sales and an assumption that 2-3 years down the line the company will be aspiring to reach 5gw capacity and hence the elevated exit multiples shall be assigned. Also, Premiere Energies with a Quarterly Topline of 1600+cr and almost 50,000 cr Mcap will be a good North Star metric for a company like Websol. There is no reason why Websol cant be 2-3 years down the line where Premiere is right now
Ending my Disclaimer with the theme of the Annual Report
“BOLDNESS IS EVERYTHING”
Onwards and Upwards!
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