Waaree Energies shares fell over 6% after Q1 FY27 results as declining EBITDA margins and higher input costs outweighed strong revenue and profit growth. Revenue rose 79% YoY to ₹7,932 crore, while net profit increased 14% to ₹850 crore. Investors will continue to monitor margin recovery, order execution, and the company's ₹61,500 crore order book.
Shares of Waaree Energies plunged by more than 6% on Thursday, July 30, following negative investor reaction towards the financial performance of the company for the quarter ended March 31, 2027. Although the company posted impressive numbers in terms of revenues and profits, worries about declining margins, rising expenses, and poor operational performance took a toll on the stock.
The share price of Waaree Energies dipped 6.4% to reach an intra-day low of ₹2,561 on the NSE, against its closing price of ₹2,736.20 on July 29. The share price stood at ₹2,577.60, marking a drop of 5.8%, on July 30.
Why Waaree Energies Share Price Fell After Q1 FY27 Results
The main cause of the decline was the squeeze on margins. While the company had registered growth in both revenues and net profits, the investors were fixated on the fall in EBITDA margins amid higher input cost inflation.
In Q1 FY27, Waaree Energies’ cost of material consumed grew 63.5% YoY to ₹4,843.93 crore against ₹2,962.43 crore for the comparable quarter last year.
The company's EBITDA margin fell to 18.15% in Q1FY27 from 22.53% in Q1 FY26, representing a drop of 438 basis points. The company's operational EBITDA grew 44% YoY to ₹1,440 crore versus ₹997 crore recorded in the previous quarter but lagged behind market estimates.
On a quarterly basis, the company was also weak as revenues fell by 11%, adjusted EBITDA dropped by 31%, and net profit plunged by 52% from the previous quarter.
Waaree Energies Q1 FY27 Financial Performance
Waaree Energies’ net profit for Q1 FY27 recorded an annual increase of 14%, with consolidated net profit of ₹850 crore as against ₹745 crore in the same period in the previous year.
Its revenue from operations grew sharply 79% YoY to ₹7,932 crore for the April-June quarter from ₹4,426 crore for Q1 FY26. But its revenue from operations fell slightly short of market expectation of ₹8,100 crore.
In addition, the company reported ₹349.8 crore as other operating income in connection with refunds or reciprocal duties charged under IEEPA tariffs announced by the US.
The Solar Panel Manufacturing segment continued to be its biggest contributor to the income, where income grew sharply 91% YoY to ₹7,399.82 crore from ₹3,872.35 crore.Check Out Valuation
Income from its EPC Contracts segment also rose 55% YoY to ₹913.99 crore from ₹589.27 crore.
But the company’s renewable power generation income fell 11% YoY to ₹9.86 crore from ₹11.10 crore.
Strong Order Book Provides Growth Visibility
Despite some margin pressure in the near term, Waaree Energies was able to hold on to its guidance for operating EBITDA for FY27 in the range of ₹7,000-7,700 crore.
Waaree Energies witnessed orders worth ₹16,000 crore in the June quarter, whereas its order book totaled ₹61,500 crore.
Waaree Energies Share Price Performance
Since the listing of Waaree Energies shares on NSE on October 28, 2024, the shares have been facing downward pressure and have lost more than 18% during the past year and almost 13% in a year to date basis in 2026.
The share price has lost 13% during the past one month and lost more than 5% during the past five trading sessions. The share price was at a 52-week high of ₹3,865 on September 12, 2025, and 52-week low of ₹2,403 on January 21, 2026.
The market cap of the company stood at ₹74,999 crore as on July 30, 2026.
