More Stories

Informist, Wednesday, Jul. 29, 2026

 

Please click here to read all liners published on this story

--Waaree Energies Apr-Jun consol net profit INR 8.50 bln 
--Analysts saw Waaree Energies Apr-Jun consol net profit at INR 9.81 bln 
--Waaree Energies Apr-Jun consol revenue INR 79.32 bln 
--Analysts saw Waaree Energies Apr-Jun consol revenue at INR 81.18 bln 
--Waaree Energies Apr-Jun consol PAT INR 8.50 bln vs INR 7.45 bln year ago 
--Waaree Energies Q1 consol revenue INR 79.32 bln vs INR 44.26 bln year ago 
--Waaree Energies Q1 consol solar photovoltaic modules revenue INR 74 bln 
--Waaree Energies Q1 EPC contract sales INR 9.14 bln vs INR 5.89 bln yr ago

--Waaree Energies Q1 consol operating EBITDA INR 14.40 bln, up 44.4% on yr

--Waaree Energies Q1 consol operating EBITDA margin 18.15% vs 22.53% yr ago

--Waaree Energies:Retain FY27 operating EBITDA guidance INR 70 bln-INR 77 bln

 

By Simran Rede

 

MUMBAI – A faster rise in total expenses of Waaree Energies Ltd. in the June quarter led to the slowest growth in the company's bottom line in eight quarters. Although the top line and bottom line rose on a year-on-year basis, both metrics were lower than the Street's expectations, with the bottom line missing it by a wide margin.

 

The solar equipment manufacturer reported a consolidated net profit of INR 8.50 billion, up 14% on year. This is lower than analysts' consensus estimate of INR 9.81 billion, implying a miss of over 13%. Its consolidated revenue from operations rose more than 79% on year to INR 79.32 billion, but this too missed the Street's expectation of INR 81.18 billion. The company also earned INR 1.71 billion as other income, down marginally on year.

 

During the quarter, the company incurred total expenses of INR 68.92 billion, almost 89% higher than its expenses in the corresponding quarter last year. In total expenses, the company consumed INR 48.44 billion worth of materials, nearly 64% higher than in the year-ago period. The expenses towards materials consumed accounted for more than 70% of total expenses. 

 

Total expenses ate up almost 87% of the total revenue from operations, leading to slow growth in net profit. The cost of purchases of stock-in-trade, which is the second-highest expense for the company, fell over 14% on year to 5.26 billion. Sales, administration, and other expenses rose 51% on year to INR 4.39 billion and the depreciation and amortisation expenses rose 81% on year to INR 3.30 billion.
 

Among the company's segments, the solar photovoltaic modules segment reported a consolidated revenue of INR 74 billion, nearly double the revenue of INR 38.72 billion in the year-ago quarter. The revenue from its engineering, procurement, and construction contract segment also rose to INR 9.14 billion from INR 5.89 billion a year ago. The company earned just INR 98.60 million from the power generation segment, lower than INR 111.00 million earned a year ago.

 

Waaree Energies retained its guidance on operating earnings before interest, tax, depreciation, and amortisation for the financial year 2026-27 (Apr-Mar) of INR 70 billion-INR 77 billion. It reported a consolidated operating EBITDA of INR 14.40 billion, up 44.4% on year. Its consolidated operating EBITDA margin for the quarter was 18.15%, down from 22.53% reported a year ago. 

 

The company said its 10-gigawatt cell facility at Unn, Gujarat, is progressing as planned and is expected to start production in the current financial year. It has also commenced advanced 5.15 gigawatt-hour of automated battery energy storage system container manufacturing in Rola, Gujarat, as per a post-earnings press release. 

 

As on Jun. 30, the company had an order book of around INR 615 billion, Chief Executive Officer Jignesh Rathod said in the press release. The company said it had achieved a module production of 3.24 gigawatt in the June quarter, implying growth of 41.5% on year on the back of strong operational efficiency and scale advantages.

 

Wednesday, shares of the company closed at INR 2,736.20 on the National Stock Exchange, up 1.6% from Tuesday, ahead of its June quarter earnings.  End

 

Edited by Rajeev Pai

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.