Investor Presentation for the Investor Meet scheduled to be held today i.e., Thursday, May 07, 2026.
WAAREEENER · price
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Waaree Energies released a comprehensive investor presentation covering its integrated solar and energy transition business. The company highlighted massive industry tailwinds: global solar capacity expected to triple to 7.4 TW by 2030, and India to cross 300+ GW by 2030 driven by policy support (PM Surya Ghar, PLI schemes) and declining costs. Waaree has scaled to 25.8 GW of module manufacturing capacity (~17x growth in 7 years) and is expanding into adjacent businesses — BESS (20 GWh gigafactory), green hydrogen electrolyzers (1 GW plant in Valsad, Gujarat, commercially operational FY26-27), inverters (targeting top-10 India ranking), transformers (20,000 MVA), and transmission infrastructure (APSL acquisition). Key ongoing EPC projects include a 2,012 MWp Bikaner project and 980 MWp Kurnool project. FY26 EPC revenue was Rs. 3,331.4 Cr with EBITDA margin of 19.24%, delivering a 3-year revenue CAGR of 111.73%. The company is targeting Rs. 1,00,000 Cr revenue in 5 years under Waaree 2.0, with ~$3.5 Bn (~$30,000 Cr) capex planned over two years.
Waaree is transitioning from a module manufacturer to a full-stack energy solution provider covering solar, BESS, green hydrogen, inverters, and transmission — significantly expanding its addressable market from ~$1 Tn to ~$4 Tn by 2035. The company demonstrates strong execution (4.2 GW US plant coming up in 6 months, 1 GW electrolyser commercially starting FY26-27) with a debt-to-equity ratio below 1 indicating financial discipline despite heavy capex cycles. The presentation signals a clear multi-year growth roadmap, with management guidance toward Rs. 1 lakh crore revenue in 5 years.