Waaree Energies Limited has informed the Exchange about Transcript
WAAREEENER · price
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Waaree Energies filed the transcript of its Q1 FY26 earnings call with the exchanges. The company reported record quarterly numbers — revenue of ₹4,597 crore (up 31.5% YoY), EBITDA of ₹1,169 crore (up ~83% YoY) with margins expanding over 700 basis points to 25.4%, and PAT of ₹773 crore (up ~93% YoY). Management highlighted a robust order book of 25 GW (worth ₹49,000 crore) with a pipeline exceeding 100 GW, and reaffirmed full-year FY26 EBITDA guidance of ₹5,500–6,000 crore. The Board approved an additional ₹2,754 crore capex for cell and ingot-wafer expansion (4 GW each), and by FY27 the company targets 26 GW module, 16 GW cell, 10 GW ingot-wafer, 3.5 GWh battery, and 3 GW inverter capacity. Management also addressed U.S. policy dynamics (anti-dumping investigation, FEOC rules, Trump tariffs, the Big Beautiful Bill), seeing them broadly favourable given Waaree's India-owned, vertically integrated footprint.
Record-breaking quarterly performance, sharp margin expansion, and reaffirmed full-year EBITDA guidance reinforce a positive outlook for the stock and signal strong execution momentum. The disclosed ₹2,754 crore capex approval and robust 100+ GW pipeline provide multi-year growth visibility, though investors should keep an eye on U.S. anti-dumping/trade policy outcomes as a key near-term risk.