New Delhi:
Key Performance Highlight for Q4 FY26:
• Achieved module production of 4.2 GW in Q4 FY26 and highest ever annual production of 12.6 GW for FY26, supported by strong operational efficiency and scale advantages.
• Reported quarterly revenue of ₹ 8,840.25 Crores, delivering a strong 111.80% YoY growth
• Operating EBITDA for the quarter stood at ₹ 1,576.76 Crores marking a growth of 70.91% YoY with margins of 18.59%
• Total EBITDA for the year stood at ₹6,616.79 Crores, surpassing total EBITDA guidance of ₹5,500Cr- ₹6,000Cr for FY26
• Quarterly PAT reached ₹1,126.26 Crores, advancing 74.76% YoY
Other Key Highlights for Q4 FY26:
• Completed acquisition of strategic stake in United Solar Holding Inc., Oman’s polysilicon leader, secures traceable supply chain and supports U.S. and global expansion.
• Board approved a ₹3,900 Cr capex for a 2,500 TPD glass manufacturing plant
• Commenced construction of India’s largest 10 GW integrated ingot and wafer facility in Nagpur with ₹6,200 Cr capex, strengthening upstream solar manufacturing and supply chain self reliance.
• Commissioned additional module capacity of 3 GW at Samakhiali, Gujarat
• Board has recommended a final dividend of ₹2 per equity share taking the total dividend for FY26 to ₹4 per equity share, on face value of ₹10 each
Jignesh Rathod, Whole Time Director & CEO, Waaree Energies Ltd said, “Waaree Energies Ltd. has delivered a record-breaking performance in FY26, reaching total revenue from operations of ₹26,536.77 Cr. Our operational milestones have been equally significant, as we have scaled our production across module and cell. This year was defined by execution at scale, advancing backward integration and ensuring consistent delivery through operational excellence. Scale expansion improved efficiency and cost leadership, supporting strong demand. Operating EBITDA reached ₹5,908.64 Cr (+117.10%), while total EBITDA and net profit stood at ₹6,616.79 Cr (+111.86%) and ₹3,884.15 Cr (+101.45%), respectively. I am particularly proud to share that we have exceeded our previously issued total EBITDA guidance of ₹5,500 Cr-₹6,000 Cr demonstrating the effectiveness of our growth strategy and disciplined execution. FY26 performance lays a strong foundation for our stated roadmap towards becoming one of the largest non –Chinese energy transition enablers. With expansions into battery energy storage systems, inverters, transformers, transmission and distribution and electrolysers for green hydrogen, Waaree 2.0 – the company’s strategic transformation into a fully-integrated, global clean energy provider. Our ability to deliver end-to-end renewable solutions and positions us as a technology-driven energy company powering global clean energy ambitions. As we enter FY27, company is projecting an Operating EBITDA range of ₹7,000 – 7,700 Cr. Our focus is on deepening value chain integration while scaling next-generation growth engines, strengthening Waaree’s vertical capabilities and expanding into high-potential adjacent segments. Waaree is not just a participant in renewable energy; we are actively driving India’s path to energy independence.”
