Shares of renewable energy company Waaree Renewable Technologies saw a sharp rally on Friday after the company reported strong quarterly earnings. The stock jumped over 13 per cent intraday to a high of Rs 1,202, as the March-quarter performance surpassed market expectations and boosted investor confidence.
Waaree Renewable delivered a robust performance in the fourth quarter of FY26. Net profit rose 66 per cent year-on-year to Rs 155.72 crore, while revenue more than doubled, jumping 131 per cent to Rs 1,102.40 crore.
Operational performance remained strong, with Ebitda increasing 63 per cent to Rs 206.82 crore, reflecting healthy execution. However, margins came under some pressure, with Ebitda margin declining by 776 basis points year-on-year, largely due to a sharp increase in costs related to EPC contracts.
Strong full-year FY26 performance
The company’s FY26 revenue surged 108 per cent to over Rs 3,331 crore, while net profit grew 109 per cent to Rs 478.65 crore. Ebitda for the year rose 106 per cent, highlighting sustained business momentum.
Despite cost pressures, full-year Ebitda margins remained broadly stable at around 19 per cent, indicating that the company was able to maintain operational efficiency even amid rising expenses.
Robust order book and expanding pipeline
Waaree Renewable’s growth is underpinned by a strong order book. The company currently has an unexecuted order book of 2.83 GWp, which is expected to be completed over the next 12–15 months.
In addition, its bidding pipeline has expanded significantly to over 36 GWp, providing strong revenue visibility for the coming years. Recently, the company secured new solar projects of 420 MWp, 35 MWp, and 14 MWp, further strengthening order inflows.
Tailwinds from the renewable energy sector
India’s renewable energy sector continues to expand rapidly. As of March 2026, the country’s total renewable energy capacity crossed 274 GW, with solar power accounting for more than 150 GW.
During FY26 alone, around 44 GW of solar capacity was added, significantly higher than the previous year, creating a favorable environment for companies like Waaree Renewable to benefit from sectoral growth.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
