Waaree Eng in limelight
Shares of Waaree Energies rose sharply on the BSE today, trading about 7% higher at around Rs. 2,589.70 versus the previous close of Rs. 2,415.80, after opening near Rs. 2,550.05 and scaling an intraday high of Rs. 2,740.75. The counter was active through the session, with turnover of about Rs. 119 crore and the stock still within its 52-week range of Rs. 1,808.65 to 3,864.40, implying a full market capitalisation of roughly Rs. 74,490 crore based on exchange data.
The move came as investors digested the company’s Q3 FY26 update and earnings presentation, which highlighted a strong jump in scale and profitability. Waaree reported revenue from operations of Rs. 7,565 crore in Q3 FY26, up 119% (YoY), while operating EBITDA rose 167% to Rs. 1,928 crore, with EBITDA margin expanding to 25% versus 21%; profit after tax stood at Rs. 1,107. crore, up 118%.
Operationally, the investor presentation indicated module production of about 3.5 GW in Q3 FY26 (up 94% YoY) and cell production of about 0.8 GW (up 35% YoY), supported by a robust order book of around Rs. 60,000 crore and an order pipeline of 100+ GW. Waaree also highlighted commissioning of incremental module capacity of 2.1 GW at Chikhli and 3 GW at Samakhiali (Gujarat), commencement of 3.05 GW inverter capacity at Sarodhi (Gujarat), and recent order wins including 5.3 GW of module orders, a transformer supply order of about Rs. 100 crore and a 10 MWh BESS order.
Management reiterated its medium-term intent to build an integrated clean-energy value chain spanning modules, cells, inverters, transformers, energy storage and green hydrogen, including equity raised of around Rs. 1,000 crore to date toward a 20 GWh advanced lithium-ion cell and battery pack facility and a strategic investment of about USD 30 million in United Solar Holding (Oman) to support a traceable polysilicon supply chain. The company said it remains on track to close FY26 strongly and reiterated its EBITDA target band of Rs. 5,500 to 6,000 crore, with investors tracking execution on the capex and conversion of the order book into deliveries over coming quarters.