Waaree Energies has reported revenue from operations of INR 8,480.25 crore for Q4 FY26, up 111.80% year on year. Operating EBITDA for the quarter stood at INR 1,576.76 crore, reflecting a 70.91% increase YoY, with margins of 18.59%. Quarterly profit after tax (PAT) rose 74.76% YoY to INR 1,126.26 crore.
For FY 2026, revenue from operations increased 83.72% YoY to INR 26,536.77 crore. Operating EBITDA reached INR 5,908.64 crore (117.10% up YoY). Total EBITDA reached INR 6,616.79 crore, exceeding the company’s guidance range of INR 5,500 crore to INR 6,000 crore. PAT for the year grew 101.45% YoY to INR 3,884.15 crore.
The company reported module production of 4.2 GW in Q4 FY26 and highest ever annual production of 12.6 GW for FY26, supported by operational efficiency and scale advantages.
“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, the company is strategically transforming into a fully-integrated, global clean energy provider,” said Jignesh Rathod, Whole Time Director & CEO, Waaree Energies Ltd. For FY27, the company expects an operating EBITDA in the range of INR 7,000 – 7,700 crore.
Among other key highlights for Q4 FY26, Waaree completed acquisition of strategic stake in United Solar Holding Inc., Oman’s polysilicon leader. The company’s Board approved a INR 3,900 crore capex for a 2,500 TPD glass manufacturing plant. It also commenced construction of India’s largest 10 GW integrated ingot and wafer facility in Nagpur with INR 6,200 crore capex, and commissioned additional module capacity of 3 GW at Samakhiali, Gujarat
Headquartered in Mumbai, Waaree Energies operates manufacturing facilities with an installed capacity of 25.8 GW for solar PV modules and 5.4 GW for solar cells. With presence across India and 25+ countries worldwide, it offers solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.