Websol Energy System makes almost all its money by manufacturing and selling solar photovoltaic (PV) cells and modules, with revenue currently concentrated in India and driven by a sharp scale‑up in mono‑PERC cell and module volumes at attractive margins.

Waaree Energies: India’s largest manufacturer and exporter of solar modules Waaree Energies makes most of its money by manufacturing and selling solar panels (modules), with smaller but fast‑growing revenue from EPC (turnkey solar projects) and a tiny share from power generation. What Waaree sells and where money comes from The core business is solar PV modules (panels) sold to power plants, commercial/industrial rooftops, and exports; this accounts for roughly mid‑80% of rev