Waaree Energies Ltd reported strong operational and financial performance for Q4 FY26, supported by higher production and scale efficiencies.
Earnings Boosted By Higher Production And Scale Efficiencies
The company achieved module production of 4.2 GW during the quarter, taking its total annual output to 12.6 GW for FY26. Revenue for the quarter stood at Rs 8,840.25 crore, up 111.80 Per cent year-on-year. Operating EBITDA came in at Rs 1,576.76 crore, reflecting a 70.91 per cent increase, with margins at 18.59per cent. Quarterly profit after tax rose 74.7 per cent oY to Rs 1,126.26 crore. For the full year, total EBITDA reached Rs 6,616.79 crore, exceeding its earlier guidance of Rs 5,500–6,000 crore.
On the operational front, Waaree completed the acquisition of a stake in Oman-based United Solar Holding Inc., aimed at strengthening polysilicon sourcing and supporting international expansion. The company also approved Rs 3,900 crore capex plan for a 2,500 TPD glass manufacturing facility and began construction of a 10 GW integrated ingot and wafer plant in Nagpur with an investment of Rs 6,200 crore. Additionally, it commissioned 3 GW of module capacity in Samakhiali, Gujarat. The board has recommended a final dividend of Rs 2 per share, taking the total FY26 dividend to Rs 4 per share.
Commenting on the aachievement, Jignesh Rathod, whole time Director and CEO, Waaree Energies said," Waaree Energies Ltd. has delivered a record-breaking performance in FY26, reaching total revenue from operations of Rs 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." |
