Waaree Energies Limited — Investor Meet, 08-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Waaree Energies reported robust FY26 financials: Revenue soared 84% to ₹26,537 Cr, Operating EBITDA jumped 117% to ₹5,909 Cr (22.27% margin), and PAT doubled to ₹3,884 Cr. Q4 also showed significant growth. The company forecasts FY27 operating EBITDA between ₹7,000-7,700 Cr.

Management highlighted strong module capacity (26GW) and a healthy ₹53,000 Cr order book. A substantial ₹30,000 Cr capex is planned for 'Waaree 2.0', integrating solar, BESS, electrolysers, and transformers. Q4 margins were impacted by commodity price hikes and logistics but are expected to recover in H2 FY27 as 10GW cell capacity boosts in-house DCR cell production. The growth outlook is positive, driven by strategic diversification and market tailwinds.