Waaree Energies Limited has reported a strong financial performance for the first quarter of FY27, driven by robust execution across its solar manufacturing business and continued expansion into energy storage and power infrastructure. The company also secured new orders worth approximately ₹16,000 crore during the quarter, taking its total order book to around ₹61,500 crore, providing strong revenue visibility for the coming quarters.
For the quarter ended June 30, 2026, Waaree’s revenue from operations surged 79.22% year-on-year (YoY) to ₹7,931.79 crore, compared with ₹4,425.83 crore in the corresponding period last year. Operating EBITDA increased 44.38% YoY to ₹1,439.92 crore, while Profit After Tax (PAT) rose 15.39% YoY to ₹891.87 crore. The company reported an operating EBITDA margin of 18.15% and a PAT margin of 11.01%, as disclosed in its financial results.
During the quarter, Waaree achieved module production of 3.24 GW, representing a 41.51% YoY increase, supported by improved operational efficiency and manufacturing scale. The company said its 10 GW solar cell manufacturing facility at Unn, Gujarat, is progressing as planned and is expected to commence production during the current financial year. Waaree also strengthened its integrated renewable energy portfolio by acquiring a 55% equity stake in Associated Power Structures Private Limited, enhancing its power infrastructure capabilities. Additionally, the company commenced operations at its 5.15 GWh automated Battery Energy Storage System (BESS) container manufacturing facility in Rola, Gujarat.
Commenting on the results Mr. Jignesh Rathod, Whole Time Director & CEO, Waaree Energies Ltd said, “Waaree Energies delivered another quarter of strong operational and financial performance in Q1 FY27, reflecting the resilience of our integrated business model, disciplined execution and sustained demand across domestic and international markets. To date, we have achieved a record order book of approximately 61,500 crore.
The performance underscores Waaree’s ability to consistently deliver profitable growth while strengthening our manufacturing ecosystem, expanding our global footprint and building multiple high-growth clean energy businesses.
The quarter also marks the continued evolution of ‘Waaree 2.0’-the Company’s transformation from a leading solar module manufacturer into a diversified energy transition enterprise with multiple growth engines across the renewable energy value chain. We are now witnessing the early outcomes of this strategy. While our core solar manufacturing business continues to perform strongly, our newer businesses are beginning to contribute meaningfully to revenue, creating multiple growth levers for the future. Through continued investments across advanced manufacturing, energy storage, power infrastructure and global markets, we are building a diversified clean energy platform designed for long-term, sustainable value creation.
During the quarter, we expanded our manufacturing footprint, commenced India’s advanced automated BESS container manufacturing and strengthened our power infrastructure capabilities through the acquisition of Associated Power Structures. We also expanded our international presence with new business opportunities across Europe, the Middle East, New Zealand and Australia, reinforcing Waaree’s position as a trusted global energy transition partner.
Our robust and diversified order book provides strong revenue visibility and reflects the confidence customers place in Waaree’s manufacturing excellence and execution capabilities. Our strong balance sheet, phased capital deployment and expected cash flow generation from our core business over the next two years place us in a comfortable position to fund and execute our strategic expansion plans while maintaining disciplined capital allocation. Supported by our integrated energy transition platform and growing contribution from diversified businesses, we remain confident in our long-term growth trajectory and reaffirm our FY27 Operating EBITDA guidance of ₹7,000-7,700 crore.”
