Solarworld Energy Solutions Limited announced its consolidated unaudited financial results for the quarter ended September 30, 2025 (Q2 FY26). The company posted a decline in profit as well as revenue on a year-on-year basis, reflecting project execution delays and softer margins in its EPC business.
Revenue dips marginally YoY
Solarworld reported revenue from operations of Rs 137.88 crore, compared to Rs 141.94 crore in Q2 FY25, marking a 2.9% year-on-year (YoY) decline. On a sequential basis, however, revenue more than doubled from Rs 68.24 crore in Q1 FY26, supported by higher material consumption and project completions during the quarter.
Including other income of Rs 2.83 crore, the company’s total income stood at Rs 140.72 crore for Q2 FY26.
Profit slumps 59% YoY
The company’s net profit for Q2 FY26 came in at Rs 9.20 crore, down 59% YoY from Rs 22.27 crore reported in the same period last year. Sequentially, profit declined 28.9% from Rs 12.92 crore in Q1 FY26.
The decline in profitability was attributed to higher operating expenses, which stood at Rs 127.91 crore, compared to Rs 114.12 crore in Q2 FY25. The cost of materials consumed increased to Rs 103.51 crore, accounting for over 80% of total expenditure.
Meanwhile, finance costs nearly doubled YoY to Rs 3.83 crore, and employee expenses rose to Rs 5.27 crore.
Half-yearly performance
For the first half of FY26, Solarworld reported total income of Rs 221.27 crore, compared to Rs 166.71 crore in the first half of FY25 — a 32.7% YoY increase. However, net profit for H1 FY26 stood at Rs 22.09 crore, compared to Rs 24.92 crore in the same period last year, reflecting a 11.3% drop.
Financial summary (Rs in crore)
| Particulars | Q2 FY26 | Q1 FY26 | Q2 FY25 | YoY % | QoQ % |
|---|---|---|---|---|---|
| Revenue from Operations | 137.88 | 68.24 | 141.94 | -2.9% | +102.0% |
| Total Income | 140.72 | 80.65 | 143.15 | -1.7% | +74.6% |
| Total Expenses | 127.91 | 62.85 | 114.12 | +12.1% | +103.4% |
| Profit Before Tax | 12.65 | 17.49 | 29.02 | -56.4% | -27.7% |
| Net Profit | 9.20 | 12.92 | 22.27 | -59.0% | -28.8% |
Outlook
Despite a softer quarter, Solarworld remains well-positioned in India’s renewable energy EPC space, supported by government-led solar capacity expansion and policy push for clean energy. The company’s focus on project execution efficiency and order book diversification is likely to drive recovery in margins in the upcoming quarters.
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