- Our execution is on track across adjacencies, becoming a Fully Integrated Energy Transition Player Revenue from operation stood at ₹ 7,565.05 Crores growth of 118.81%
- EBITDA for Q3 FY26 at ₹ 1,928.15 Crores, up by 167.16% YoY PAT for quarter grew by 118.35% YoY
- Record Orderbook valued at ~₹ 60,000 Crores
(₹ in Crores)
| Particulars | Q3FY26 | Q3FY25 | Y-o-Y | Q2FY26 | 9MFY26 | 9MFY25 | Y-o-Y |
| Change | Change | ||||||
| Revenue from operation | 7,565.05 | 3,457.29 | 118.81% | 6,065.64 | 18,056.52 | 10,440.57 | 72.95% |
| EBITDA | 1,928.15 | 721.73 | 167.16% | 1,406.40 | 4,331.88 | 1,799.06 | 140.79% |
| EBITDA Margin | 25.49% | 20.88% | 23.19% | 23.99% | 17.23% | ||
| PAT* | 1,106.79 | 506.88 | 118.35% | 878.21 | 2,757.89 | 1,283.67 | 114.84% |
| PAT Margin | 14.26% | 14.30% | 14.10% | 14.84% | 11.99% |
*Q3 & 9M FY26 PAT is after exceptional item
Key Performance Highlight for Q3 FY26:
- Achieved 3.51 GW module production in Q3 FY26, driven by robust operational focus
- Achieved 0.75 GW Cell production in Q3 FY26, driven by robust operational focus
- Reported quarterly revenue from operation of ₹ 7,565.05 Crores, marking an impressive 118.81% YoY growth
- EBITDA for the quarter stood at ₹ 1
- Profit After Tax (PAT) of ₹ 1,106.79 Crores, reflecting a substantial 118.35% YoY surge
Other Key Highlights:
- Successfully commissioned additional solar module manufacturing facility of 2.1 GW at Chikhli, Gujarat and 3 GW at Samakhiali, Gujarat
- Additionally, company commissioned 3.05 GW of inverter capacity at Sarodhi, Gujarat
- Raised ~₹ 1,003 Crores towards establishing a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility, as part of the announced Capex plan of ~₹10,000 Crores
o Waaree Group’s USD 30 million investment in United Solar Holding Inc., a leading polysilicon producer in Oman, secures a fully traceable supply chain and supports our expanding manufacturing footprint across the U.S.A. and global markets
Commenting on the results Mr. Amit Paithankar, Whole Time Director & CEO, Waaree Energies Ltd said: Waaree Energies has delivered another exceptional quarter, with Q3 FY26 marking record revenue and profitability. Over the nine months, we have achieved significant growth in both topline and EBITDA, reflecting the resilience of our business model and the trust our customers place in us. I am pleased to share that Waaree is First Indian Manufacturer to achieve 1 GW+ of module production and sales in single month with 52 modules produced per minute.
We have secured a record order inflow, strengthening our order book of ~₹ 60,000 Crores ensuring sustained visibility for the years ahead, also we have secured bankable PPAs backed by land and connectivity. We are accelerating our transformation into an integrated clean energy solutions provider by strengthening adjacencies across BESS, inverter, transformer, Renewable Power Infrastructure and green hydrogen electrolyser creating a resilient and future-ready portfolio. Additionally, our recent acquisition strengthens our supply chain by ensuring secure and fully traceable access to polysilicon, supporting Waaree’s rapidly expanding manufacturing footprint in the U.S.A. and global markets.
With disciplined execution, prudent capital allocation and strategic diversification, we are confident of closing FY26 on a strong note. Waaree is on track to achieve its EBITDA target of ₹5,500–6,000 crores while creating long-term value for stakeholders and contributing meaningfully to India’s clean energy transition.
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