Waaree Energies Limited has published the transcript of its conference call for the Unaudited Financial Results for the Quarter and half year ended September 30, 2026. The call, held on October 28, 2026, featured management discussing business updates, financial performance, and future outlook, including capacity expansions and market strategies across various business segments.
Waaree Energies Limited Q2 & H1 FY27 Earnings Conference Call Transcript Released
Waaree Energies Limited has officially released the transcript of its conference call discussing the Unaudited Financial Results for the second quarter (Q2) and the first half (H1) of the Financial Year 2027 (FY27), ending September 30, 2026. The detailed transcript, dated October 28, 2026, provides an in-depth look into the company’s performance and strategic direction.
Key Management Discussions and Updates
The call featured key management personnel, including Mr. Jignesh Rathod (Whole-Time Director and CEO), Mr. Abhishek Pareek (CFO), and Mr. Varun Goenka (President, Growth and Strategy). They provided an overview of the company’s industrial updates, highlighting India’s solar installations and the growing importance of BESS (Battery Energy Storage Systems) as an accelerator for energy transition. The management also touched upon new growth drivers such as green ammonia and green hydrogen.
Financial Highlights and Performance
During the call, financial performance for Q2 FY27 was presented, with revenues reported at ₹7,517.7 crore, an increase of 23.9% year-on-year. Operating EBITDA stood at ₹1,335.2 crore with a margin of 17.8%. For H1 FY27, revenues grew by 47.3% to ₹15,449.5 crore, with Operating EBITDA up 15.5% to ₹2,775.1 crore and a margin of 18%. The company confirmed its status as a net debt-free entity with net cash of approximately ₹3,224 crore.
Capacity Expansion and Business Strategy
Significant emphasis was placed on the company’s expanding manufacturing capabilities. Waaree has an installed module manufacturing capacity of 25.8 gigawatt, including 1.6 gigawatt in the USA. The company is also scaling up its cell manufacturing capacity to 5.4 gigawatt in India, with plans for further expansion. Future growth drivers include battery energy storage systems, transformers, inverters, EPC, T&D, and green hydrogen businesses, with a strategic focus on vertical and horizontal integration across the new energy value chain.
Market Outlook and Order Book
The order book as of October 26, 2026, was approximately ₹59,200 crore, with a module order book of 25.6 gigawatts. The company discussed its US market strategy, particularly in light of Section 232 regulations, and highlighted the growth potential in its retail business, which accounted for 46.1% of Q2 revenues.
Source: BSE
