Waaree Energies reported revenue of INR 7,931.79 crore for the first quarter of FY 2027, up 79.22% year on year (YoY). Operating EBITDA increased 44.38% YoY to INR 1,439.92 crore, with an EBITDA margin of 18.15%. Profit after tax (PAT) rose 15.39% YoY to INR 891.87 crore.
The company sold 3.6 GW of solar modules during the quarter, up 89% from 1.9 GW in the corresponding quarter of FY 2026.
Waaree secured new orders worth INR 16,000 crore during the quarter, taking its total order book to INR 61,500 crore. Solar modules account for 90% of the order book, followed by renewable EPC (4%), renewable transmission and distribution (4%), and other businesses (2%).
Module production reached 3.24 GW in Q1 FY 2027, an increase of 41.51% YoY.
“Waaree Energies delivered another quarter of strong operational and financial performance in Q1 FY27, reflecting the resilience of our integrated business model, disciplined execution and sustained demand across domestic and international markets,” said Jignesh Rathod, whole time director & CEO, Waaree Energies Ltd.
“The quarter also marks the continued evolution of ‘Waaree 2.0’—the Company’s transformation from a leading solar module manufacturer into a diversified energy transition enterprise with multiple growth engines across the renewable energy value chain. We are now witnessing the early outcomes of this strategy. While our core solar manufacturing business continues to perform strongly, our newer businesses are beginning to contribute meaningfully to revenue, creating multiple growth levers for the future. Through continued investments across advanced manufacturing, energy storage, power infrastructure and global markets, we are building a diversified clean energy platform designed for long-term, sustainable value creation,” he added.
During the quarter, Waaree expanded its manufacturing footprint, commenced automated battery energy storage system (BESS) container manufacturing, and strengthened its power infrastructure business through the acquisition of Associated Power Structures. The company also expanded its international presence with new business opportunities across Europe, the Middle East, New Zealand and Australia.
Mumbai-headquartered Waaree Energies has an installed manufacturing capacity of 25.8 GW for solar PV modules and 5.4 GW for solar cells. With presence across India and 25+ countries worldwide, it offers solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems.
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