BSEGeneral8 Sept 2026 · 8 Sept 2026, 09:24 pm
Please find enclosed the Annual Report of Solarworld Energy Solutions Limited for the financial year 2025-26.
Solarworld Energy Solutions Ltd · 544532
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Solarworld Energy Solutions Ltd has submitted its Annual Report for the financial year 2025-26, and announced its 13th Annual General Meeting to be held on September 30, 2026.
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Earnings Impact5/10
Growth Catalyst6/10
Governance Concern2/10
Regulatory Risk1/10
Balance Sheet Risk3/10
Liquidity Impact8/10
Market Sentiment5/10
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Solarworld Energy Solutions Ltd - 544532 - Reg. 34 (1) Annual Report.
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September 8, 2026
To, To,
BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot no. C/1, G Block,
Dalal Street, Bandra-Kurla Complex
Mumbai – 400001 Bandra (E), Mumbai - 400051
Scrip Code: 544532 Symbol: SOLARWORLD
Subject: Submission of Annual Report for the financial year 2025-26 pursuant to Regulation 34 of the Securities
and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Dear Sir/Madam,
The 13th Annual General Meeting (“AGM”) of the Members of the Company will be held on Wednesday, September
30, 2026 at 3:00 p.m. (IST) through Video Conferencing (“VC”) /Other Audio Visual Means (“OAVM”), in
compliance with the applicable provisions of the Companies Act, 2013 and the rules made thereunder, read with the
relevant circulars issued by Ministry of Corporate Affairs (“MCA”) and Securities and Exchange Board of India
(“SEBI”).
Pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as
amended, please find enclosed herewith the Annual Report of the Company for Financial Year ended on March 31,
2026 and the same is also available on the Company’s website at the following link: https://worldsolar.in/wp-
content/uploads/2026/09/Annual-Report_2025-26.pdf.
Kindly take the same on your record.
Thanking you.
Yours faithfully,
For Solarworld Energy Solutions Limited
(Formerly known as Solarworld Energy Solutions Private Limited)
Varsha Bharti
Company Secretary and Compliance Officer
Membership No.: A37545
Encl. A/a
Advancing the
Renewable Frontier
Expanding Capacity | Powering Growth
Solarworld Energy Solutions Limited
Annual Report 2025-26
Advancing the Contents
Renewable Frontier
Corporate Statutory
01-25 26-121
Overview Reports
Expanding Capacity | Powering Growth
04 About Solarworld 26 Management Discussion & Analysis
06 Financial highlights 43 Notice
08 Message from Chairman and 62 Board’s Report
Managing Director
91 Corporate Governance Report
10 Milestones and Achievements
12 Key Projects
Financial
14 India’s Renewable Energy Sector 122-262
Statements
India’s renewable energy sector is entering a defining 16 Strategy for Sustainable Growth
phase. The focus is steadily shifting from adding 18 Integrated Business Model 122 Standalone Financial Statements
generation capacity to creating an energy ecosystem 20 Technology and Innovation 189 Consolidated Financial Statements
22 Our Board
that is dependable, integrated and resilient. As
24 Key Managerial Personnel and
renewable energy assumes a larger role in the country’s
Senior Management Personnel
power mix, the emphasis is increasingly on solutions
25 Awards and Recognitions
that combine solar generation with energy storage,
enhance grid stability and deliver reliable power across
diverse applications. This transformation is reshaping
the industry’s priorities and creating opportunities
for businesses capable of delivering far more than
conventional project execution.
Solarworld has aligned its strategy with For us, expanding capacity is not confined
this transformation. Over the past year, we to increasing manufacturing output or
have broadened our presence across the executing larger projects. It is about
renewable energy ecosystem by advancing enhancing every capability that shapes the
our manufacturing platform, expanding into future of our business—from technology
battery energy storage, deepening backward and engineering to manufacturing,
integration and reinforcing our project execution and energy storage. Each
execution capabilities. In addition, we have advancement strengthens our ability to
continued to invest in technology, innovation deliver with greater speed, quality and
and operational excellence, recognising that reliability while creating a platform that
the next phase of industry leadership will be is adaptable to a rapidly evolving industry.
defined by the ability to deliver integrated, As we continue to broaden our horizons,
high-performance energy infrastructure we remain committed to shaping a more
rather than standalone solutions. Strategic integrated renewable energy ecosystem
partnerships and a diversified customer and contributing meaningfully to India's
portfolio further enhance our ability to transition towards a cleaner, more secure
respond to evolving market requirements and sustainable energy future.
while creating a stronger and more
balanced business.
SOLARWORLD ENERGY SOLUTIONS LIMITED Corporate Overview Statutory Reports Financial Statements
FORMERLY KNOWN AS SOLARWORLD ENERGY SOLUTIONS PRIVATE LIMITED
About Solarworld
Built in India, for India
Solarworld Energy Solutions Limited is an integrated Solar EPC Company engaged
in the design, engineering, procurement, construction, operation and maintenance Vision Our Values
of solar power generating system and battery energy storage projects. The Company
provides end-to-end solutions for utility-scale and commercial Renewable Energy
Equal-
Ethical
projects under both CAPEX and RESCO business models, catering to public sector Our vision is to deliver Opportunity to all
undertakings and private sector customers. high-quality, cost-effective Respect for Diversity
sustainable renewable Transparent (gender, geography, religion,
The Company has an expanding presence across solar EPC, battery energy storage energy solutions for language, etc.)
systems (BESS) and Solar Panel manufacturing. It has developed capabilities businesses and across
Respect
across project execution, operations and maintenance and domestic manufacturing, diverse markets, aiming to Environmentalism
for the individual
reduce carbon footprints and
enabling the Company to deliver reliable, cost-effective and end-to-end clean
champion the shift toward
energy solutions tailored to the customers' evolving requirements.
clean energy. By doing so,
we strive to enhance the
Key Highlights
quality of life for present and
future generations.
60+ 348 MW DC
Solar and renewable energy projects EPC portfolio installed
executed and under execution
Mission
1,809 MW DC 1,164 MWh
Ongoing Solar EPC Capacity Ongoing BESS Capacity
At Solarworld Energy
Solutions Limited, we are
1.552 GW 3.4 GW
committed to responsibly
envisioning, designing TOPCon solar module manufacturing Battery Energy Storage System (BESS)
facility commissioned in manufacturing facility
and executing innovative
Roorkee, Uttarakhand
solar power projects.
Our mission is to bring 5 GW 2.4 GW
sustainable growth and
Junction Box Manufacturing Capacity Solar cell manufacturing facility under
innovation while maximising
development with proposed JV, targeted
shareholder value through for commissioning by June 2027
strategic investments in
renewable energy solutions FY26 total income of FY26 PAT of
14,160 million 1,204 million
for businesses and
communities alike. Driven up 157% year-on-year up 56% year-on-year
by the ‘Human Energy’
within the Solarworld Energy
Solutions Limited family, we
are dedicated to shaping a
cleaner and brighter tomorrow.
4 Annual Report 2025-26 5
SOLARWORLD ENERGY SOLUTIONS LIMITED Corporate Overview Statutory Reports Financial Statements
FORMERLY KNOWN AS SOLARWORLD ENERGY SOLUTIONS PRIVATE LIMITED
Financial highlights
Growth that Mirrors in Numbers
Total Income (INR in Mn) Revenue from Operations (INR in Mn)
FY 2026 14,160.7 FY 2026 13,761.6
FY 2025 5,510.85 FY 2025 5,447.65
FY 2024 5,055.02 FY 2024 5,010.16
EBITDA (INR in Mn) PAT [Profit After Tax] (INR in Mn)
FY 2026 1,879.26 FY 2026 1,204.7
FY 2025 1,155.67 FY 2025 770.48
FY 2024 733.45 FY 2024 516.91
Return on Capital Employed [ROCE] (%) Return on Equity [ROE] (%)
FY 2026 34.26 FY 2026 20.83
FY 2025 54.53 FY 2025 40.27
FY 2024 86.57 FY 2024 108.25
6 Annual Report 2025-26 7
SOLARWORLD ENERGY SOLUTIONS LIMITED Corporate Overview Statutory Reports Financial Statements
FORMERLY KNOWN AS SOLARWORLD ENERGY SOLUTIONS PRIVATE LIMITED
Message from Chairman
and Managing Director
Our achievements during
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