Abhishek Sinha
Shares of Waaree Renewable Technologies Ltd rallied nearly 10% in Monday’s trading session following the company’s stellar Q2 FY26 results, which showcased record sales and profits. The stock surged to an intraday high of ₹1,244.85, up 9.71%, as the solar EPC major reported robust financial performance and a strong order pipeline.
🔹 Record-Breaking Quarter
For the September quarter, the company’s profit after tax (PAT) jumped 117.4% year-on-year to ₹116.34 crore, up from ₹53.52 crore in the same period last year.
Revenue rose 47.7% YoY to ₹774.78 crore compared to ₹524.47 crore, while EBITDA climbed 121% YoY to ₹157.94 crore. The EBITDA margin improved significantly to 20.39% from 13.65% a year ago, supported by efficient execution and an expanding project portfolio.
🔹 Strong Order Book & Expansion Plans
Waaree Renewable reported an unexecuted order book of 3.48 GWp, expected to be completed within 12–15 months. The company also highlighted a bidding pipeline exceeding 27 GWp, indicating steady market traction.
In terms of expansion, the board has approved capital expenditure for:
- Two 14 MWp solar IPP projects in Maharashtra (total 28 MWp)
- A 37.5 MWp solar IPP project in Bikaner, Rajasthan
🔹 Management Commentary
CFO Manmohan Sharma attributed the company’s strong growth to its execution strength and the rising momentum in India’s renewable sector.
“India’s renewable capacity has touched 256.1 GW as of September 2025 — halfway to the 2030 target of 500 GW. Solar contributes 127.33 GW, underscoring its critical role in India’s clean energy transformation,” Sharma said.
He added that Waaree’s integrated EPC expertise positions it as a key player in delivering large-scale renewable projects.
“With a 3.48 GWp unexecuted solar EPC order book, we are strategically positioned to deliver value across the entire project lifecycle — from design to commissioning and O&M. The company is also expanding into substation and transmission infrastructure for select projects,” he added.
🔹 Industry Outlook
India’s renewable energy ecosystem continues to expand rapidly, driven by supportive policy frameworks, ambitious national goals, and increasing private investments. Waaree Renewable’s record quarterly performance reinforces its strong foothold in the clean energy transition and its commitment to India’s net-zero vision.
Disclaimer:
This article is for informational purposes only and does not constitute a buy or sell recommendation by Niveshvani.in. Investors are advised to conduct their own research or consult financial experts before making investment decisions.
