Waaree Energies reported significant growth in Q3 FY26, with revenue from operations increasing by 118.8% year-over-year to ₹7,565 Cr. The company’s operating EBITDA rose by 167.2% to ₹1,928 Cr, resulting in a margin of 25.5%. Profit after tax also saw substantial growth, increasing by 118.4% to ₹1,106 Cr, with a margin of 14.3%.
Exceptional Financial Results
Waaree Energies has announced record performance for Q3 FY26, demonstrating substantial growth across key financial metrics. Revenue from operations reached ₹7,565 Cr, marking a 118.8% increase compared to the same quarter last year. The operating EBITDA soared to ₹1,928 Cr, a 167.2% year-over-year rise, leading to a 25.5% margin. Profit after tax also experienced significant growth, climbing to ₹1,106 Cr, reflecting a 118.4% increase and a 14.3% margin.
Capacity and Order Book
The company’s module capacity stands at approximately 23 GW, with a cell capacity of 5.4 GW. The order book is robust at approximately ₹60,000 Cr, indicating strong demand for Waaree Energies’ products. The company has planned capital expenditures exceeding ₹25,000+ Cr to further expand its operations.
Strategic Investments and Expansions
Waaree Energies has made key strategic investments to strengthen its position in the renewable energy sector. They secured a long-term, fully traceable polysilicon supply chain with an investment of approximately $30 million in United Solar Holding (Oman). The company also raised equity of approximately ₹1,000 Cr for a 20 GWh advanced lithium-ion cells and battery pack manufacturing facility.
Operational Highlights
The company has commissioned an additional module capacity of 2.1 GW at Chikhli and 3 GW at Samakhiali, Gujarat. Additionally, Waaree Energies has commenced a 3.05 GW inverter capacity at Sarodhi, Gujarat. These expansions are part of the company’s strategy to become a fully integrated energy transition player.
Order Wins
Key new wins during the quarter include a 5.3 GW module order from renowned customers, a ₹100 Cr transformer supply order of 1.27GW, and a 10 MWh BESS order from a major infrastructure company, showcasing continued growth and market diversification.
Future Outlook
Waaree Energies anticipates surpassing its EBITDA guidance of ₹5,500-6,000 Cr for FY26, driven by strong operational performance and continued demand for its products. The expansion projects and strategic initiatives are expected to further bolster the company’s growth trajectory.
Source: BSE
