Waaree Energies Limited — PPTs, 30-04-2026: Investor Presentation

Waaree Energies delivered a stellar FY26, with revenue hitting ₹26,537 Cr (+83.72% YoY) and profit after tax soaring to ₹3,884 Cr (+101.45% YoY). Q4 also saw robust growth. The retail segment showed strong traction, boosting revenue by 84%. Module production surged 77% to 12.6 GW, while cell production ramped up significantly to 2.3 GW.

Driving future growth, Waaree is expanding capacity to ~26 GW modules and 5.4 GW cells, backed by a robust ~₹53,000 Cr order book and ₹30,000 Cr capex plans. Strategic moves include a stake in United Solar Holding for polysilicon, a ₹3,900 Cr investment in PV Glass, and a credit rating upgrade. Construction for a 10 GW ingot/wafer facility is underway.

Financials reflect strong performance with 32.4% ROCE and 29.0% ROE. Management projects continued momentum, guiding FY27 Operating EBITDA between ₹7,000 – 7,700 Cr, as major projects across solar, BESS, and green hydrogen stay on track. Waaree is emerging as a fully integrated energy transition player.