Summary: Waaree Energies reported 31.48% revenue growth, 82.61% EBITDA rise, and 92.68 per cent PAT jump in Q1 FY26. Strong production, expansion plans, and a 25 GW order book drove a 5.05% share price surge.
Waaree Energies Ltd posted strong Q1 FY26 results with strong revenue, EBITDA, and PAT growth, supported by record module production, a healthy order book, and ongoing expansion plans in India and overseas, boosting investor confidence and share performance.
Waaree Energies Ltd has announced impressive unaudited financial results for the quarter ended June 30, 2025, demonstrating continued strong performance. The company's total revenue for Q1 FY26 stood at ₹4,597.18 crore, marking a substantial 31.48% year-over-year (YoY) growth compared to ₹3,496.41 crore in Q1 FY25. Quarter-over-quarter (QoQ), revenue increased by 11.02% from ₹4,140.92 crore in Q4 FY25.
Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) for the first quarter of fiscal year 2026 surged by 82.61% YoY to ₹1,168.67 crore, up from ₹639.99 crore in Q1 FY25. The EBITDA margin for Q1 FY26 was 25.42%. Profit After Tax (PAT) also saw a significant increase of 92.68% YoY, reaching ₹772.89 crore in Q1 FY26, compared to ₹401.13 crore in the same period last fiscal year. The PAT margin for the quarter was 16.81%.
Key operational highlights for Q1 FY26 include achieving the highest-ever quarterly module production of 2.3 GW. The company also reported a robust order book of approximately ~25 GW, valued at ~₹49,000 crore. Cell production continues to ramp up, and Waaree Solar Americas Inc. secured an order inflow of approximately ~2.23 GW.
The Board of Directors has approved an additional capital expenditure of ₹2,754 crore for the expansion of cell capacity by 4 GW in Gujarat and ingot-wafer capacity by 4 GW in Maharashtra. Waaree Energies is also on track for commissioning additional module manufacturing of 1.6 GW in Texas, USA, and 3.2 GW in Chikhli, Gujarat. Furthermore, green hydrogen, inverter, and battery energy storage system facilities are currently under construction and proceeding as planned.
The company continues to deliver strong operational performance, building on the momentum of the previous fiscal year. The robust order book and a global pipeline of 100+ GW reflect positive market sentiments. The company's FY26 EBITDA guidance is ₹5,500 to ₹6,000 crore.
Waaree Energy share price surges over 5% on Tuesday after the company announced its Q1FY26 quarterly results. As of 10:40 am IST, the stock price was trading at ₹3,268 per share, up by 5.05%.
On a year-to-date basis, the stock is up by 13.91% while in the last 3 months, it is up by 22.17%. Since its listing in October 2024, it has given 29.90% returns.
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