Solar Company signs a solar module supply agreement with C.R.I. Pumps Pvt Ltd
The stock gave multibagger returns of 133 per cent from its 52-week low and a whopping 8,200 per cent in 5 years.
On Friday, shares of Websol Energy System Ltd gained 1.84 per cent to Rs 1,228 per share from its previous closing of Rs 1,206 per share. The stock’s 52-week high of Rs 1,891.10 per share and its 52-week low is Rs 527.55 per share.
Websol Energy System Limited (Websol or the Company) (BSE: 517498, NSE: WEBELSOLAR), a leading manufacturer of high-efficiency solar cells and modules, announced the signing of a solar module supply agreement with C.R.I. Pumps Private Limited, a company engaged in the business of installing, marketing and selling photovoltaic panels as part of the solar-powered pumping system.
Under the agreement, Websol will supply Mono-perc DCR Solar Modules with ratings of 500Wp, 520Wp, 525Wp and 535Wp, with a contracted purchase commitment of up to 250 MW, supporting the Company's continued growth in the renewable energy sector. The DCR (Domestic Content Requirement) classification ensures compliance with government regulations mandating the use of locally manufactured components, further reinforcing Websol’s commitment to promoting domestic solar manufacturing.
The agreement marks another milestone in Websol’s ongoing commitment to providing high-quality and technologically advanced solar solutions. It aligns with the company’s strategic vision to scale production capacity, strengthen its operational framework and drive innovation to meet evolving market demands.
Commenting on the agreement, Mr Sohanlal Agarwal, Managing Director, Websol Energy, said: “Securing orders for up to 250 MW of Mono-PERC DCR Solar Modules highlights our focus on quality and technological leadership. Our thorough testing processes ensure outstanding performance and reliability, building strong trust with industry partners. This achievement positions Websol to expand operations, drive innovation, and play a key role in India's transition to renewable energy by supporting our farmers through the PM KUSUM SOLAR PUMPS PROJECT across India.”
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About the Company
Established in 1994, Websol Energy System Limited stands as a prominent Indian manufacturer specializing in high-efficiency photovoltaic crystalline solar cells and modules for commercial and industrial applications, demonstrating a commitment to product innovation through its transition to advanced monocrystalline silicon PV cells with PERC technology while maintaining international quality standards and expanding its presence in both global and domestic sustainable energy markets.
The company has a market cap of Rs 5,182 crore. The stock gave multibagger returns of 133 per cent from its 52-week low and a whopping 8,200 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.