SWELECT Energy Systems Limited has submitted a revised Annual Report for FY2025-26 after identifying clerical and printing errors in the financial statements of the version filed with stock exchanges in July. The company clarified that the revisions, including corrections to Corporate Social Responsibility (CSR) expenditure, retained earnings figures and the audit report date, are non-material and do not affect its financial statements or key disclosures.
The revised report highlights SWELECT’s strategic transformation from a solar and wind company into an integrated energy platform focused on solar manufacturing, EPC services, independent power production (IPP), battery energy storage systems (BESS), and hybrid renewable energy solutions. The company said growing demand for round-the-clock renewable power is driving its expansion into storage-led energy infrastructure and integrated clean energy offerings.
For FY2025-26, SWELECT reported consolidated revenue from operations of ₹657.12 crore, up 5.7% year-on-year, while EBITDA increased to ₹187.49 crore, representing a 30.36% annual growth. Consolidated profit after tax rose sharply to ₹57.58 crore, with earnings per share improving to ₹36.40.
The company is scaling its solar module manufacturing capacity from 1 GW to 2 GW at its Coimbatore facility while strengthening its integrated manufacturing capabilities across PV modules, module mounting structures, balance-of-system components and energy storage solutions. Its wholly owned subsidiary, SWELECT HHV Solar Photovoltaics, is also expanding production of high-efficiency TOPCon modules for domestic and international markets.
Battery Energy Storage Systems have emerged as a major growth pillar for the company. During the year, SWELECT initiated pilot BESS projects, plans to commission a 10 MWh storage system at its Coimbatore manufacturing facility, secured a 5 MWh rooftop BESS order, and expects to launch commercial and industrial BESS solutions with hybrid inverters during FY27. The company has also formed a joint venture with FortifyGrid LLC to pursue energy storage opportunities in India, Singapore and the United States.
Looking ahead, SWELECT aims to expand both its IPP portfolio and EPC business to approximately 1 GW, supported by investments in manufacturing, rooftop solar, channel distribution and storage technologies. The company said it has already secured ownership positions linked to nearly 110 MW of future IPP opportunities while continuing to strengthen its financial position and integrated renewable energy capabilities.
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