Waaree Energies reported robust financial results for the first quarter of FY27, with revenue from operations climbing 79.2% year-on-year to INR 7,932 crore. Operating EBITDA saw a substantial increase of 44.4% to INR 1,440 crore, with a healthy EBITDA margin of 18.2%. The company also announced a record order book of INR 61,500 crore, underscoring strong market demand and execution capabilities.
Waaree Energies Reports Strong Q1 FY27 Performance
Waaree Energies Limited has announced its financial results for the first quarter ended June 30, 2026 (Q1 FY27), demonstrating significant year-on-year growth across key financial metrics. The company’s revenue from operations reached INR 7,932 crore, marking an impressive increase of 79.2% compared to the same period last year. This surge in revenue reflects strong demand and expanding market presence.
Profitability and Margin Expansion
Operating EBITDA for the quarter stood at INR 1,440 crore, a substantial rise of 44.4% year-on-year. The operating EBITDA margin was maintained at a healthy 18.2%. Profit after tax (PAT) for the quarter was INR 892 crore, up 15.4% year-on-year, with a PAT margin of 11%. These figures indicate the company’s ability to translate revenue growth into improved profitability.
Record Order Book and Capacity Growth
A key highlight of the quarter is the company’s record order book, which stands at approximately INR 61,500 crore. This represents a significant increase from the previous quarter and provides strong visibility for future revenue. Waaree has also continued to expand its manufacturing capabilities, with module capacity at 24.2 gigawatts and cell manufacturing capacity at 5.4 gigawatts, with plans to further enhance cell capacity by 10 gigawatts in the coming months. The company’s U.S. manufacturing footprint is also seeing ramp-up, with a 1.6-gigawatt module capacity currently running at 59% utilization.
Strategic Initiatives and Market Position
Waaree is focusing on strengthening its integrated value chain and expanding its global presence. Strategic initiatives include capacity additions in module manufacturing, automated BESS container production, and the commercialization of inverter duty transformers. The company emphasizes its position as the largest non-Chinese module manufacturer globally and its commitment to quality and reliability. Waaree’s retail business also showed strong traction, growing 130% year-on-year and is projected to contribute significantly to full-year revenue.
Outlook and Future Plans
The company reiterated its operating EBITDA guidance of INR 7,000 crore to INR 7,700 crore for FY27. Waaree’s strategic roadmap includes deep backward integration into ingots, wafers, and solar glass, alongside continued expansion in BESS and other energy storage solutions. The focus remains on leveraging domestic manufacturing policies and global opportunities to drive sustainable growth and enhance shareholder value.
Source: BSE
