Waaree Energies Limited has released its investor presentation for the Quarter ended June 30, 2026 (Q1 FY27). The company reported a strong 79.2% YoY increase in revenue from operations to ₹7,932 Cr and a 44.4% YoY growth in Operating EBITDA to ₹1,440 Cr. The presentation details strategic edges, including a significant order book of ~₹61,500 Cr, and outlines the company’s integrated energy ecosystem, capacity expansion plans, and commitment to sustainability.
Waaree Energies Q1 FY27 Performance Highlights
Waaree Energies Limited has announced its financial results for the Quarter ended June 30, 2026 (Q1 FY27). The company showcased a robust financial performance, with Revenue from operations reaching ₹7,932 Cr, marking a substantial +79.2% Year-over-Year (YoY) increase. Operating EBITDA also saw significant growth, rising by +44.4% YoY to ₹1,440 Cr, with an Operating EBITDA Margin of 18.2%. Profit After Tax stood at ₹892 Cr, a +15.4% YoY increase with an 11.0% Margin.
Strategic Edge and Order Book
The company highlighted its strategic advantages, including a significant Order Book valued at approximately ~₹61,500 Cr. Waaree boasts a substantial Module Capacity of ~26 GW, positioning it as the Largest Non-Chinese Company in the World in this segment. Furthermore, its Cell Capacity stands at 5.4 GW, making it the Largest in India.
Strong Return Ratios
Waaree Energies demonstrated strong financial health with a Net Debt to Equity ratio of -0.08x. The company achieved a ROCE of 28.5% and an ROE of 24.8%, reflecting efficient capital utilization and profitability.
Diversified Revenue Mix and Growth Drivers
The revenue mix for Q1 FY27 shows a healthy diversification across segments, with Utility/IPP/C&I contributing 39.7%, Retail 30.2%, Overseas 21.2%, and EPC, O&M and T&D at 8.9%. Module sold increased by +89% to 3.6 GW in Q1 FY27 compared to Q1 FY26. Overseas revenue breakup indicates a strong contribution from Export-India (1,034 Cr) versus Domestic-US (287 Cr) in Q1 FY27. Retail Revenue experienced a significant surge of +130% to ₹2,289 Cr in Q1 FY27.
Capacity Expansion and Business Updates
The presentation also covered key company updates, including commissioned additional module capacity of 3 GW at Samakhiali, Gujarat in April 2026. Waaree Energy Storage Solutions commenced 5.15 GWh automated BESS container capacity. Furthermore, Waaree Transpower started production of its 17.6 MVA inverter duty transformer. The company is reaffirming its Operating EBITDA Guidance for FY27 at ₹7,000 – 7,700 Cr.
Integrated Energy Ecosystem
Waaree presented its One Integrated Energy Ecosystem, encompassing Manufacturing, EPC Services, and Infrastructure Platform. This includes Green Hydrogen, BESS (Battery Energy Storage Systems), Solar Panels, Inverters, Transformers, and T&D (Transmission & Distribution) services, showcasing a comprehensive approach to the energy transition.
Future Outlook and Strategy
The company’s strategic roadmap emphasizes building the new energy value chain with significant capex planned. Waaree aims to be India’s Only Fully Integrated Energy Transition Player, expanding its annual TAM size significantly by 2030 and 2035. Its capital allocation strategy focuses on Solar (51%), Services (14%), BESS (32%), and Others (3%). Phasing for capital deployment is set for FY27 (30%), FY28 (40%), and FY29 (30%).
The document also details Waaree’s manufacturing footprint across India, US, and the Middle East, its key differentiators like an Integrated Business Model and Technology Leadership, and its commitment to sustainable actions aligning with UN SDGs.
Source: BSE
