Boost in Q1 earnings by 93% for Waaree Energies, driven by clean energy demand, sending share prices soaring
In a noteworthy development, Mumbai-based renewable energy company, Waaree Energies Limited, has announced a robust Q1 FY26 performance, marking a significant growth in various key metrics.
The company reported a total income of ₹4,597.18 crore, up 31.48% year-over-year (YoY). Their EBITDA rose by 82.61% YoY to ₹1,168.67 crore, and net profit (PAT) increased 92.68% YoY to ₹772.89 crore. The EBITDA margin stood at 25.42%, and the PAT margin was 16.81% for the quarter [1][2][3][4].
Regarding expansion plans, Waaree approved a capital expenditure (CapEx) of ₹2,754 crore (₹27.54 billion) to expand solar cell and ingot-wafer capacities in India. This includes investments aimed at broadening their clean energy portfolio by venturing into green hydrogen, battery storage, and inverter manufacturing. The company is also expanding production capacity in Gujarat and Maharashtra, among other locations, supported by a robust project pipeline and operational efficiencies [2][4].
During the quarter, Waaree achieved a record solar module production of 2.3 GW, up from 1.4 GW a year ago, reinforcing its position as a leading vertically integrated clean energy company [3][4].
Dr. Amit Paithankar, CEO of Waaree Energies Limited, attributed the performance to improved production efficiency and cost management. The earnings per share of Waaree Energies Limited climbed to ₹25.94 from ₹14.98. The total income of Waaree Energies Limited rose 31.48% to ₹4,597.18 crore compared to the same period last year [5].
Waaree Energies Limited maintains its FY26 EBITDA guidance of ₹5,500-6,000 crore. The manufacturing expansions of 1.6 GW in Texas and 3.2 GW in Chikhli, Gujarat are on track for commissioning.
As of 12.35 pm on the NSE, Waaree Energies Limited's shares were trading at ₹3,206.70, up by ₹94.90 or 3.05% [6].
[1] Waaree Energies Limited Press Release [2] Business Standard [3] ET EnergyWorld [4] Financial Express [5] Moneycontrol [6] NSE
- It appears that Waaree Energies Limited, a prominent renewable energy company in Mumbai, has exhibited impressive growth in various aspects, as indicated by their Q1 FY26 performance.
- In the realm of finance, the company's total income soared by 31.48% Year-over-Year (YoY) to ₹4,597.18 crore, and their EBITDA and net profit also experienced substantial increases.
- As part of their expansion plans, Waaree Energies Limited has allocated a significant capital expenditure of ₹2,754 crore towards expanding solar cell and ingot-wafer capacities in India, aiming to diversify into green hydrogen, battery storage, and inverter manufacturing.
- The solar module production capacity of Waaree Energies Limited reached a record 2.3 GW during the quarter, reinforcing its standing as a leading vertically integrated clean energy company.
- The robust performance of Waaree Energies Limited can be attributed to improved production efficiency and cost management, leading to increased earnings per share and total income compared to the same period last year. The company also continues to meet its projected EBITDA guidance for FY26 and is making steady progress on its manufacturing expansions in Texas and Gujarat.
