Websol Energy System Ltd Directors Report

The Board of Directors hereby submits the report of the business and operations of your Company ("the Company"), along with the audited financial statements, for the financial year ended 31st March, 2026.

STATE OF COMPANYS AFFAIRS

Financial Performance

(Rs. in Crore)

Particulars	Standalone		Consolidated
	Year ended 31st March, 2026	Year ended 31st March, 2025	Year ended 31st March, 2026	Year ended 31st March, 2025
Total Income	1,059.31	577.43	1,059.31	577.43
Total Expenses	698.46	382.96	698.47	382.96
Profit before Depreciation, Finance Costs,	428.54	252.67	428.53	252.67
Exceptional Items and Tax (excludes other income)
Finance Cost	15.99	19.27	15.99	19.27
Profit before Exceptional items and Tax	360.85	194.47	360.84	194.47
Add/ (Less): Exceptional Items	(1.35)	-	(1.35)	-
Profit before Tax	359.50	194.47	359.49	194.47
Less: Tax Expenses	56.49	39.73	56.49	39.73
Profit after Tax	303.01	154.74	303.00	154.74
Other Comprehensive Income/(Loss)	1.53	(0.44)	1.53	(0.44)
Total Comprehensive Income	304.54	154.30	304.53	154.30
Earning per share
Basic	6.98	3.67	6.98	3.67
Diluted	6.98	3.62	6.98	3.62

During the year under review, the Company successfully commissioned and operated its newly installed 600 MW solar cell manufacturing line in September 2025, which was fully funded through internal accruals. Consequently, the Companys installed solar cell manufacturing capacity increased to 1.2 GW along with 550 MW solar module manufacturing capacity.

The capacity expansion contributed significantly to the Companys operational and financial performance during the year. Revenue from operations increased from Rs. 575.46 crores in the previous financial year to Rs. 1,049.44 crores during the year under review.

The Company also recorded substantial improvement in profitability driven by higher capacity utilisation, operational efficiencies and improved economies of scale. Profit After Tax increased from Rs. 154.74 crores in the previous year to Rs. 303.01 crores during the current year. The Companys net worth also strengthened considerably from Rs. 278.05 crores to Rs. 630.71 crores during the year on account of improved retained earnings and infusion of Rs. 64.13 crores (including share premium) by promoters as subscription of warrants.

The strong operational and financial performance during the year has further strengthened the Companys balance sheet, cash flows and overall financial position. The management remains focused on improving operational efficiencies, optimizing production yields and enhancing competitiveness through technology upgradation and capacity expansion initiatives.

Future Expansion Plans

The Company continues to focus on technology upgradation and capacity expansion in line with the growing domestic demand for high-efficiency solar products. As part of this strategy, the Company has decided to upgrade one of its existing manufacturing lines to TOPCon technology, which is expected to increase the effective manufacturing capacity to approximately 1.35 GW.

In addition, the Company has finalized its strategy for undertaking a major greenfield expansion project, which is expected to be completed beginning in 2027. Upon completion of the proposed expansion, the Companys total manufacturing capacity of solar cell is expected to increase 3.35 GW. The proposed expansion programme is expected to be financed through a prudent combination of debt, equity and internal accruals.

Change in nature of business, if any

There was no change in the nature of business of the company.

Management Discussion and Analysis Report

The Companys business activity primarily falls within a single business segment i.e., production of Solar PhotoVoltaic Cells and Modules. The analysis on the performance of the industry, the Company, internal control systems, risk management are presented in the Management Discussion and Analysis Report forming part of this Annual report.

SHARE CAPITAL

Equity Shares

The paid-up Equity Share Capital as on 31st March, 2026 is Rs. 43,41,63,470. During the financial year, the Company sub-divided its existing equity shares having a face value of Rs. 10/- (Rupees Ten only) each into 10 (Ten) equity shares having a face value of Re. 1/- (Rupee One only) each.

Conversion of Share Warrants into Equity Shares of the Company

The Company had issued 12,10,000 Convertible Warrants of face value of Rs. 10/- each on preferential basis to Websol Green Projects Private Limited, forming part of the Promoter Group in financial year 2024-25. The warrants were originally allotted at an issue price of Rs. 530/- per warrant, each warrant being convertible into one equity share of face value of Rs. 10/- each. Pursuant to the sub-division of the Companys equity shares from Rs. 10/- each to Re. 1/- each, each warrant became convertible into 10 equity shares of Re. 1/- each.

During the year under review, the 12,10,000 warrants pending for conversion into equity shares were converted into fully paid-up equity shares of face value of Re. 1/- each at a premium of Rs. 52/- each.

Other than above, there were no changes in the share capital of the Company.

Further, the fund raised through the preferential issue has been used for the stated purpose.

Sweat Equity Shares

In terms of Sub-rule (13) of Rule 8 of The Companies (Share Capital and Debentures) Rules, 2014, the Company has not issued any Sweat Equity Shares.

Differential Voting Rights

In terms of Rule 4(4) of the Companies (Share Capital and Debenture Rules, 2014), the Company has not issued any share with Differential Voting Rights.

Employee Stock Options

In terms of Rule 12(9) of the Companies (Share Capital and Debenture Rules, 2014), the Company has not issued any Employee Stock Options.

DIVIDEND

Your Directors have recommended a final dividend of Re. 0.25 per equity share of Re 1 each for the year ended 31st March, 2026 aggregating to Rs. 10.85 crore. The dividend recommended is in accordance with the Companys Dividend Distribution Policy and the same is uploaded on the Companys website at www.websolenergy.com.

Dividend is subject to approval of the Members at the ensuing Annual General Meeting. In view of the changes made under the Income Tax Act, 1961, by the Finance Act, 2020, dividends paid or distributed by the Company shall be taxable in the hands of the Shareholders. Accordingly, the Company shall make the payment of Dividend after deduction of tax at prescribed rates as per the Income Tax Act, 1961 and rules framed thereunder.

Transfer of unpaid & unclaimed Dividends & Shares to Investor Education and Protection Fund (IEPF)

Pursuant to Sections 124 and 125 of the Companies Act, 2013 read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 ("IEPF Rules") there was no unclaimed/unpaid dividend, hence the company is not required to transfer any amount to Investor Education and Protection Fund.

RESERVES

During the year under review, your Directors have not proposed to transfer any amount to reserves.

MATERIAL CHANGES AND COMMITMENT

There are no material changes or commitments that took place after the close of financial year till date which will have any material or significant impact on the financials of the Company.

CONSERVATION OF ENERGY, TECHNOLOGY

ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

Conservation of Energy

The particulars relating to conservation of energy, technology absorption, foreign exchange earnings and outgo, as required to be disclosed under Section 134(3) (m) of the Companies Act, 2013 read with Rule 8(3) of the

Companies (Accounts) Rules, 2014 as amended from time to time, are set out in the ‘Annexure I.

RISK MANAGEMENT

The Board of Directors have developed a risk management framework for the Company, identifying therein the elements of risk and concern that may threaten the existence of the Company. The senior management continuously evaluates the risk elements through a systematic approach to mitigate or reduce the impact of risk elements. The elements of risks and concerns are reviewed by the Board of Directors. Discussion on risks and concerns have been made under ‘Management Discussion and Analysis Report.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

INITIATIVES

Pursuant to the provisions of Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, the brief details of the CSR Committee are provided in the Corporate Governance Report, which forms part of this Annual Report. The CSR policy is available on the website of your Company at www. websolenergy.com. The details of the CSR are given in ‘Annexure II to this Report.

PARTICULARS OF LOANS, GUARANTEES

OR INVESTMENTS

Details of loans, guarantees, investments and acquisition covered under the provisions of Section 186 of the Companies Act, 2013, if any, are given in the Notes forming part of the Financial Statements.

LOAN FROM DIRECTORS

The Company has not received any loan from directors or their relatives during the year under report.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES

All transactions entered with Related Parties during the financial year were on an arms length basis and were in ordinary course of business and the provision of Section 188 of the Companies Act, 2013 are not attracted. There are no materially significant related party transactions during the period under review made by the Company with Promoters, Directors or other designated person which may have a potential conflict with the interest of the Company at large. Thus, disclosure in Form AOC- 2 is not required. However, details of all related party transactions are given in Notes to Financial Statements.

The Companys policy for transactions with the related party which was reviewed by the Audit Committee and approved by the Board, can be accessed at: https://www.

websolenergy.com/wp-content/uploads/2026/ 05/Related-Party-Transaction-Policy-1.pdf

BOARD OF DIRECTORS, COMMITTEES AND MANAGEMENT

Composition

The composition of the Board of Directors and its Committees, viz., Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, Corporate Social Responsibility Committee and Risk Management Committee are constituted in accordance with Companies Act, 2013 ("the Act") and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ["SEBI (LODR) Regulations, 2015"], wherever applicable. The details are provided in Corporate Governance Report which forms part of the Annual Report.

Appointment & Resignation

Based on the recommendation of Nomination and Remuneration Committee, Mrs. Rupanjana De (DIN: 01560140) was appointed as the Additional (Non-Executive Independent) Director of the Company on 31st July, 2025 by the Board of Directors. Her appointment was approved by the members of the company at the 35th Annual General Meeting of the company held on 29th September, 2025 for a period of 3 (Three) consecutive years. Ms. Sanjana Khaitan (DIN: 07232095) ceased to be a director of the company w.e.f. 29th September, 2025. However, she was appointed as the Executive Director of the company w.e.f. 22nd November, 2025 as approved by the members of the company through Postal Ballot for a period of 3 (Three) consecutive years.

Mrs. Ritu S Jain (DIN: 00534451), Non-Executive Independent Director and Mrs. Sreeram Vasanthi (DIN: 00289326), Non-Executive Non-Independent Director resigned from the directorship of the company with effect from 8th April, 2025 and 1st September, 2025 respectively.

Based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors at its meeting held on 10th August, 2026 approved appointment of –Mr. Sanjay Kumar (DIN: 11820120) as an Additional (Non-Executive Non-Independent) Director of the Company, who shall hold the office till the date of ensuing AGM.

Notice under Section 160 of the Companies Act, 2013 has been received from a member proposing the candidature of Mr. Sanjay Kumar as a Non-Executive Non-Independent Director of the Company, liable to retire by rotation.

Mr. Dinesh Agarwal (DIN: 02722380) as an Additional (Non-Executive Independent) Director of the Company for a consecutive period of 5 (five) years subject to the approval by shareholders at the General Meeting.

Retirement by Rotation

Pursuant to Section 152 of the Companies Act, 2013, Mr. Rajeewa R Arya (DIN: 10620120), Non-Executive Non-Independent Director, liable to retire by rotation, has expressed his unwillingness for re-appointment.

Therefore, he will cease to be a director of the Company upon conclusion of the 36th AGM. The Board placed on record appreciation for the valuable contribution, guidance and support extended by him during his tenure as a Director of the Company.

Ms. Sanjana Khaitan (DIN: 07232095), Director, is liable to retire by rotation at the ensuing AGM and being eligible, has offered herself for re–appointment.

Details as required to be disclosed under Regulation 36(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is incorporated in the annexure to the notice calling ensuing Annual General Meeting.

Meetings of the Board & Committees:

During the year under review, 8 (Eight) meetings of the Board of Directors were held. The details of Board and Committee Meetings held during the Financial Year ended on 31st March, 2026 and the attendance of the Directors are set out in the Corporate Governance Report which forms part of this report. The maximum time gap between any two Board Meetings was not more than 120 days as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Companies Act, 2013 and Secretarial Standard on Meetings of the Board of Directors.

The details of meeting of Independent Directors are set out in the Corporate Governance Report which forms part of this report.

Declaration by Independent Directors

The Company has received requisite declarations/ confirmations from all the Independent Directors confirming their independence as per provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board relies on their declaration of independence. The Board hereby states that, in its opinion, the independent directors appointed during the year possess adequate integrity, expertise and experience, including the requisite proficiency, to discharge their functions effectively and independently.

FamilarisationProgrammeforIndependentDirectors

Pursuant to the provisions of Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015,theCompanyhasformulatedaprogramme for familiarising the process and development in the plant of the Company in which it was informed about the business model of the Company etc. through various initiatives.

Further, at the time of appointment of an Independent Director, the company issues a formal letter of appointment outlining his/her role, function, duties and responsibilities as a director. The details of programmes for familiarisation for Independent Directors are available on the website of the Company www.websolenergy.com.

Annual Evaluation of Boards Performance

In compliance with the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Independent Directors in its meeting has carried out an annual evaluation of its own performance, board committees and individual directors. The details are provided in Corporate Governance Report which forms part of the Annual Report.

Directors Responsibility Statement

In accordance with the provisions of Section 134(5) of the Companies Act, 2013, your Directors state that: a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; b) the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit / loss of the company for that period; c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; d) the directors had prepared the annual accounts on a going concern basis; e) the Directors had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively; and f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

KEY MANAGERIAL PERSONNEL

During the financial year ended 31st March, 2026, Ms. Sanjana Khaitan resigned from the post of Chief Financial Officer of the Company. Subsequently, based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors appointed Mr. Amrit Daga as the Chief Financial Officer of the Company with effect from 11th August, 2025.

In terms of Section 203 of the Companies Act, 2013 read with the Rules framed thereunder, the following are the Key Managerial Personnel (KMP) of the Company as on 31st March, 2026:

1. Mr. Sohan Lal Agarwal: Chairman & Managing Director

2. Ms. Sanjana Khaitan: Executive Director

3. Mr. Amrit Daga: Chief Financial Officer

4. Mr. Raju Sharma: Company Secretary & Compliance Officer (resigned w.e.f. the close of business hours on 31st May, 2026.) and Mr. Ashok Purohit, Company Secretary & Compliance Officer (Appointed w.e.f. 10th August, 2026)

VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company has adopted a Vigil Mechanism/Whistle Blower Policy to provide a formal mechanism to the Directors and employees to report their concerns about unethical behavior, actual or suspected fraud or violation of the Companys Code of Conduct or Ethics Policy. It aims to provide an avenue for employees through this policy to raise their concerns on any violation of legal or regulatory requirements, suspicious fraud, misfeasance, misrepresentation of any financial statements and reports. It also provides for direct access to the Chairman of the Audit Committee. The Vigil Mechanism/Whistle Blower Policy is being made available on the Companys website www.websolenergy.com

NOMINATION AND REMUNERATION POLICY

PursuanttotheprovisionsofSection178oftheCompaniesAct, 2013, the Board, on the recommendation of the Nomination and Remuneration Committee, has framed a Nomination and Remuneration Policy for selection, appointment and remuneration of Directors and Key Managerial Personnel including criteria for determining qualifications, positive attributes and independence of Directors. The policy has been duly approved and adopted by the Board, pursuant to the recommendations of the Nomination and Remuneration Committee. The Remuneration Policy has been uploaded on the Companys website www.websolenergy.com. Further the salient features of the policy are given in the Report of Corporate Governance forming part of this Annual Report.

ANNUAL RETURN

The Annual Return of the Company as on 31st March, 2026 in Form MGT - 7 is in accordance with Section 92(3) of the Act read with the Companies (Management and Administration) Rules, 2014 and is available on the website of the Company at www.websolenergy.com

SUBSIDIARIES, JOINT VENTURES AND

ASSOCIATE COMPANIES

During the financial year under review, the Company incorporated "Websol Renewables Private Limited" as its wholly owned subsidiary to undertake the next phase of expansion of the Companys renewable energy business, including the proposed enhancement of manufacturing capacity of solar cells and solar modules.

As on March 31, 2026, the Company has one wholly owned subsidiary and does not have any joint venture or associate company.

The "Policy on Material Subsidiary" is available on the Companys website at www.websolenergy.com.

Pursuant to Section 129(3) of the Companies Act, 2013, read with Rule 5 of the Companies (Accounts) Rules, 2014, a statement containing the salient features of the financial statements of Subsidiaries/Associate Companies/Joint Ventures in Form AOC-1 is given in Annexure-III of this Report. Further, in accordance with the provisions of Section 136 of the Companies Act, 2013, the Annual Financial Statements of the Subsidiary is available on the Companys website at www.websolenergy.com.

PUBLIC DEPOSITS

During the year under review, your Company has neither accepted nor renewed any deposits from public within the meaning of Section 73 of the Companies Act, 2013 read with Companies (Acceptance of Deposits) Rules, 2014.

INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY

The Company has established a system of internal controls, policies, and procedures to ensure the orderly and efficient conduct of its operations. This system is designed to support compliance with Company policies, safeguard assets, prevent and detect fraud and errors, ensure the accuracy and completeness of accounting records, and enable the timely preparation of reliable financial disclosures.

The existing internal financial control framework is aligned with applicable statutory requirements. Its effectiveness is continuously monitored through management reviews, self-assessment mechanisms, and independent evaluations conducted by the Internal Auditor.

AUDIT AND ALLIED MATTERS

Statutory Auditor

M/s G. P. Agrawal & Co., (FRN: 302082E) Chartered Accountants, was re-appointed as Statutory Auditors of the Company at the 33rd Annual General Meeting held on 21st September, 2023 for a term of 5 consecutive years to hold office till the conclusion of 38th Annual General Meeting to be held in the year 2028.

The Statutory Auditors have confirmed that they are not disqualified from continuing as Auditors of the Company.

The Statutory Auditor Report to the Members for the year ended 31st March, 2026 does not contain any qualification, reservation, adverse remark or disclaimer. Also there has been no instance of fraud reported by the statutory auditors for the period under review.

Internal Auditor

As recommended by the Audit Committee, the Board of Directors have re-appointed M/s. M. Kumar Jain & Co., Chartered Accountants, as Internal Auditors of the Company to conduct internal audit for the financial year 2025-26. Further, the Board at its meeting held on 27th April, 2026 on the recommendation of the Audit Committee had appointed

M/s. RSM Astute Consulting Pvt. Ltd. as Internal Auditors of the Company for the Financial Year 2026-27.

Secretarial Auditors

The Companys Secretarial Auditors, Mr. Abhijit Majumdar, Practicing Company Secretary (COP No. 18995), was appointed as the Secretarial Auditor of the Company for a term of consecutive five years from the conclusion of 35th Annual General Meeting held on 29th September, 2025 till the conclusion of 40th Annual General Meeting to be held in the calendar year 2030. The Secretarial Audit Report for the Financial Year 2025-26 in the prescribed Form MR-3 is appended as ‘Annexure IV to this Boards Report.

Boards Comments on the Observations of the Secretarial Auditor

Observation	Boards Comment
During the year under review, the Company paid fines for violation of Regulations 13(3), 27(2), 17(1), 18, 19, 43A and 23(9) of the SEBI (LODR) Regulations, 2015.	The Board noted the observations of the Secretarial Auditor.
	The Company has taken necessary corrective measures and strengthened its compliance monitoring mechanism to ensure timely compliance with the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
During the year under review, the Company was not in compliance with Regulation 21(3A) of the SEBI (LODR) Regulations, 2015 as it convened only one meeting of the Risk Management Committee.	The Board noted the observation regarding the number of meetings of the Risk Management Committee. The Company has taken note of the requirement under Regulation 21(3A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and has put in place appropriate mechanisms to ensure that the Committee meets at least twice during each financial year going forward.

COST AUDIT & COST RECORDS

During the year under review, cost audit and maintenance of cost records as specified by the Central Government under sub-section (1) of Section 148 of the Companies Act, 2013 are not applicable to the Company.

CORPORATE GOVERNANCE

The Company adheres to follow the best corporate governance. As per Regulation 34 read with Schedule V (C) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a Report on Corporate Governance along with a certificate received from Practicing Company Secretary confirming compliance is annexed and forms part of the Annual Report.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS

There were no significant and material orders passed by the Regulators or Courts or Tribunals during the year under review impacting the going concern status and the operations of the Company in future.

DISCLOSURE ON SEXUAL HARASSMENT OF WOMEN AT WORKPLACE

As per the requirement of the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 (‘POSH Act) and Rules made thereunder, your Company have constituted Internal Complaints Committee for providing a redressal mechanism pertaining to sexual harassment of women employees at workplace.

The table below provides details of complaints received/disposed during the financial year 2025 26:

No. of complaints at the beginning of year	0
No. of complaints filed during the year	0
No. of complaints disposed during the year	NA
No. of complaints pending at the end of year	0
No. of complaints pending for more than ninety days	NA

During the year under review, there were no complaint under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

COMPLIANCE UNDER THE MATERNITY BENEFIT ACT, 1961

The Company affirms its compliance with the applicable provisions of the Maternity Benefit Act, 1961. All eligible female employees were extended the benefits under the Act, and necessary policies and infrastructure to support maternity related needs are in place across the organization.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

The disclosures pertaining to remuneration and other details as required under Section 197 of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is attached as ‘Annexure V forming part of this report.

The statement containing particulars of employees pursuant to Section 197(12) of the Act, read with Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is not being sent to the Members along with this Annual Report in accordance with the provisions of Section 136 of the Act. The said information is available for inspection at the registered office of the Company and any member interested in inspecting the same may write to the Company Secretary in advance at investors@websolenergy.com

OTHER DISCLOSURES

Non-convertible debentures

The Company did not issue any non-convertible debentures during the financial year 2025-26

Consolidated financial statements

The consolidated financial statements, prepared in accordance with IND-AS 110–consolidated financial statements, form part of this Integrated Report.

Secretarial Standards

The company has complied with the applicable provisions of Secretarial Standards SS-1 and SS-2 with respect to convening of Board Meetings and General Meetings during the period under review.

Proceeding pending under the Insolvency and Bankruptcy Code, 2016

No application has been made under the Insolvency and Bankruptcy Code; hence the requirement to disclose the details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the year along with their status as at the end of the financial year is not applicable.

Settlements with Banks or Financial Institutions

During the year under review, no settlements were made by the Company with any Banks or Financial Institutions and hence the details of difference between amount of the valuation done at the time of one-time settlement and the valuation done while taking loan from the Banks or Financial Institutions along with the reasons thereof is not applicable.

Business Responsibility and Sustainability Report

Regulation 34(2) (f) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 is applicable to the Company during the year under review, based on the market capitalization. The BRSR is annexed to and forms part of Annual Report describing the initiatives taken by the Company from the Environment, Social and Governance perspective.

Insurance

The Company has taken appropriate insurance for all assets against foreseeable perils.

Integrated Annual Report

The Company has voluntarily provided the members with an Integrated Report, which discusses the organizations strategy, governance structure, performance and opportunities for creating value based on the six types of capital: financial, manufactured, intellectual, human, social and relationship, and natural capital, for the interest of all stakeholders of the company.

APPRECIATION & ACKNOWLEDGEMENT

Your Directors express their sincere appreciation for the assistance and co-operation received from the Government authorities, financial institutions, banks, customers, vendors and members during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services continuously being rendered by the Companys executives, staff and workers.

	For and on behalf of the Board
	Websol Energy System Limited
	Sohan Lal Agarwal
Place: Kolkata	Chairman & Managing Director
Date: August 10, 2026	(DIN: 00189898)