| Revenue growth | FY26 revenue at ₹26,537 Cr. |
|---|---|
| Margins | Focused on cost leadership through vertical integration (Polysilicon to Modules). |
| Demand visibility | Strong; Global solar PV capacity projected to reach 7.4 TW by 2030. |
| Management confidence | High; emphasizing 'Ecosystem over Factory' and market leadership. |
Growth
Revenue reached ₹26,537 Cr in FY26, significantly leading domestic peers in solar module manufacturing scale.
Outlook
Projecting module capacity expansion to 28.4 GW; BESS market entry targeting ~208 GWh Indian demand by 2030.
Risks
Exposure to raw material volatility (Poly/Silver), technology obsolescence (PERC to TOPCon/HJT), and international trade policy reversals.
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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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.