Waaree Energies Q4 & FY26 Earnings Call: Record Results, FY27 EBITDA Guidance of INR7,000-7,700 cr

Mgmt Guided Margin ImprovementMgmt Guided Margin PressurePromoter Disclosed Acquisition PlansOrder Pipeline DisclosedAnalyst Day Multiyear TargetsInvestor Communications View source PDF

WAAREEENER · price

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Price reaction · full curve 14 horizons · vs prior close

-3.2%1-day move

₹3229.00

prior close

₹3220.00

base price

After-mkt

timing

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AI summary

FY26 revenue: INR26,537 cr (+84% YoY). Operating EBITDA: INR5,909 cr (+117%, 22.27% margin). PAT: INR3,884 cr (+101%). Total EBITDA of INR6,617 cr beat guidance. Q4 revenue jumped 111% to INR8,480 cr. Order book at INR53,000 cr with 100+ GW pipeline. FY27 EBITDA guidance: INR7,000-7,700 cr. Outlined 'Waaree 2.0' with $3.5B capex across batteries, glass, hydrogen, T&D. Acquired United Polysilicon (Oman) and APSL stakes. Plans INR10,000 cr fundraise.

Likely market impact

FY26 beat guidance. FY27 EBITDA of INR7,000-7,700 cr signals 20-25% growth. Major capex and INR10,000 cr fundraise may pressure near-term margins.