| Revenue growth | FY26 +83.7% YoY; Q4 +111.8% YoY. |
|---|---|
| Margins | FY26 EBITDA margin 22.27%; Q4 margin 18.59%. |
| Order book | ~₹53,000 Cr as of April 2026. |
| Demand visibility | Strong; order book at ~₹53,000 Cr; pipeline 100+ GW. |
| Management confidence | High; transitioning to 'Waaree 2.0' fully integrated model. |
Growth
FY26 Revenue up 83.7% to ₹26,537 Cr; PAT surged 101.5% to ₹3,884 Cr. Q4 Revenue grew 111.8% YoY.
Outlook
Planned capex of ~₹30,000 Cr across verticals; targeting 28GW module, 15GW cell, and 10GW ingot/wafer capacity.
Risks
Geopolitical shifts impacting supply chains; dependency on solar glass and polysilicon traceability; intense competition from non-Indian manufacturers.
Earnings Call filed with NSE, NSE: WAAREEENER. Summary written with AI assistance from the document.
Waaree Energies Ltd: key numbers
- Share price
- ₹2,495.00
- Market cap
- ₹71,769 Cr
- Revenue (annual)
- ₹26,537 Cr
- Net profit (annual)
- ₹3,711 Cr
- P/E (TTM)
- 18.8×Sector 45.9×
- Promoter holding
- 64.12%-0.07% QoQ
- FII holding
- 8.57%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Waaree Energies Ltd
All →Waaree Energies Annual General Meeting
The 36th AGM of Waaree Energies Ltd concluded, passing all resolutions, including financial statement adoption, dividend declaration, and director appointments.
Waaree Energies Capacity Expansion
Waaree Energies' subsidiary, WCES, has entered the specialty gases market to supply semiconductor and solar cell manufacturers. A new manufacturing plant is being established at GIDC Saykha, Gujarat.
Waaree Energies Acquisition
Waaree Energies approved a scheme of amalgamation with Indosolar Limited, aiming to simplify group structure through a share swap ratio of 1:11.
Waaree Energies Bags New Order from Leading domestic solar developer
Waaree Energies received a new order for 2 GW solar modules from a leading domestic solar developer. Delivery spans FY 2026-27 and 2027-28; no monetary value was disclosed.
- From
- Leading domestic solar developer (name undisclosed due to confidentiality)
- Execution
- FY 2026-27 and 2027-28
- solar module supply
- 2 GW
Waaree Energies Bags New Order from Renowned customer
Waaree Energies Ltd received an order to supply 2 GW of solar modules to a leading solar developer. The order will be executed over two financial years.
- From
- Renowned customer (leading solar developer)
- Execution
- FY 2026-27 & 2027-28
- solar modules supply
- 2.0 GW
Waaree Energies Promoter Buying (Off-Market)
C.T. Doshi Family Trust reported an indirect acquisition of an 18.34% stake in Waaree Energies Limited via an inter se gift. The transaction facilitates intergenerational wealth transfer.