Waaree Energies Limited has announced a record-breaking financial performance for FY26, with revenue from operations soaring to ₹26,537 crore, a 83.72% YoY increase. The company’s PAT reached ₹3,884 crore, marking a 101.45% YoY growth. With an impressive order book of ~₹53,000 crore and a module capacity of ~26 GW, Waaree continues to lead the global solar transition as the largest non-Chinese manufacturer.
Financial Growth Milestones
Waaree Energies Limited has delivered exceptional results for the fiscal year ending March 31, 2026. The company reported a significant surge in key metrics, with annual revenue touching ₹26,537 crore. The Operating EBITDA for the year stood at ₹5,909 crore, representing a substantial 117.10% YoY growth, while the Profit After Tax (PAT) climbed to ₹3,884 crore.
Quarterly Performance Analysis
The momentum remained robust in the final quarter, Q4 (Jan-Mar 2026), which saw revenue from operations reach ₹8,480 crore, an increase of 111.80% YoY. Operating EBITDA for the quarter was ₹1,577 crore, and the PAT reached ₹1,126 crore, demonstrating a consistent upward trajectory in profitability and operational efficiency.
Strategic Market Positioning
Waaree continues to solidify its global standing with a module manufacturing capacity of ~26 GW, maintaining its position as the largest non-Chinese player in the world. The company has a massive order book of ~₹53,000 crore and is actively expanding its footprint across the energy value chain. Major upcoming projects include a 10 GW integrated ingot and wafer facility in Nagpur and significant expansions into BESS (20 GWh), inverter manufacturing (4 GW), and green hydrogen electrolysis (1 GW).
Future Outlook
Looking ahead to FY27, the company maintains a strong outlook for continued expansion. With the board-approved ₹3,900 crore investment for a PV glass manufacturing plant and a growing order pipeline of over 100 GW, Waaree is well-positioned for sustained growth. The management has provided an Operating EBITDA guidance of ₹7,000 – 7,700 crore for the upcoming fiscal year.
Source: BSE
