| Revenue growth | 83.72% YoY for FY26; 111.80% YoY for Q4FY26. |
|---|---|
| Margins | FY26 EBITDA margin at 22.27%; Q4FY26 margin dipped to 18.59%. |
| Order book | ~₹53,000 Cr as of Q4FY26. |
| Demand visibility | Strong, backed by a ~₹53,000 Cr order book and 100+GW pipeline. |
| Management confidence | High, focused on 'Waaree 2.0' and end-to-end integration. |
Growth
FY26 Revenue rose 83.7% to ₹26,537 Cr; PAT surged 101.5% to ₹3,884 Cr.
Outlook
Planned ₹30,000 Cr capex; targeting 28GW module, 15GW cell, and 10GW ingot/wafer capacity by FY27/28.
Risks
Exposure to global supply chain volatility, geopolitical shifts, and high competition from Chinese manufacturers.
Earnings Call filed with BSE, 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
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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.