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Earnings Call

Waaree Energies Earnings Call: Key Takeaways

Waaree delivered record FY26 results with 84% revenue growth, transitioning to 'Waaree 2.0' through vertical integration into glass, ingots, wafers, and energy storage.

Why this was an Alfa AlertEBITDA Beat: Guided ₹5,500-6,000cr for FY26; achieved ₹6,617cr, representing a 10.3% beat above the upper end.
Highlights
Revenue growth84% YoY for FY26; 111% YoY for Q4.
MarginsOperating EBITDA margin 22.27% FY26; long-term target 19-20%.
Order book₹53,000 crores; 65-70% from overseas markets.
Demand visibilityRobust; 100+ GW pipeline and multi-decadal BESS runway.
Management confidenceHigh; citing Waaree 2.0 transition and global supply chain de-risking.

Growth

FY26 Revenue grew 84% to ₹26,537cr; PAT doubled to ₹3,884cr. Q4 Revenue rose 111% YoY.

Outlook

FY27 EBITDA guidance ₹7,000-7,700cr. ₹30,000cr total capex planned for full-stack energy transition capabilities.

Risks

Commodity price spikes (silver/copper) and Red Sea logistics congestion impacted Q4 margins and exports.

Source

Earnings Call filed with NSE, NSE: WAAREEENER. Summary written with AI assistance from the document.

Read the document ↗

Waaree Energies Ltd: key numbers

Share price
₹2,500.00
Market cap
₹71,913 Cr
Revenue (annual)
₹26,537 Cr
Net profit (annual)
₹3,711 Cr
P/E (TTM)
19.5×Sector 44.3×
Promoter holding
64.12%+0.00% QoQ
FII holding
8.57%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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