Waaree Renewable Technologies Ltd
Waaree Renewable Technologies Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Waaree Renewable Technologies expects continued strong growth in sales and revenue driven by a healthy unexecuted order book of 3.48 GWp to be executed over the next 12-15 months. Waaree Renewable Technologies reported strong H1 FY2026 performance: 81.12% revenue growth, 144.56% EBITDA growth, 148.21% PAT growth YoY.
From Waaree Renewable Technologies Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Waaree Renewable Technologies expects continued strong growth in sales and revenue driven by a healthy unexecuted order book of 3.48 GWp to be executed over the next 12-15 months.
- H1 FY2026 execution of 1.62 GWp already surpassed full-year FY2025 execution, indicating an upward trajectory in volumes.
- The company foresees growth beyond the government’s 500 GW solar target, with solar additions exceeding 40-50 GW annually, supported by abundant site availability and accelerating national renewable capacity.
- With the expanding solar market, EPC orders are expected to sustain and possibly increase beyond FY 2027, driven by strong demand in utility-scale, rooftop, and C&I segments.
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Profitability & Margins
See what Waaree Renewable Technologies Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Recent board approval for IPP projects includes 14 MWp (two projects in Maharashtra) and 37 MWp (one project in Rajasthan), planned for execution in H2 FY26 or later.
- The company has acquired around 3% stake in a cooling solutions company, aiming for synergy by combining solar installation EPC business with cooling solutions.
- No current major term loans; only Rs. 20 crores term loan for IPP business.
- No confirmed foreign investments or promoter stake increases, but potential future considerations will be communicated.
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Fundraising & Capital Structure
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Order Book & Pipeline
- Current order book stands at 3.48 GWp, to be executed over the next 12 to 15 months.
- The company executed around 1.6 GWp in H1 FY26 and won orders worth 1.8 GWp in the same period.
- Order book is predominantly domestic, with active exploration of international opportunities.
- The order pipeline overall is strong; the company is pursuing a 27 GWp bidding pipeline including government tenders (~6-7 GWp annually) and private/C&I/IPP customers (~20 GWp).
- The company maintains a selective approach to order booking, focusing on orders with acceptable risk-reward and margin metrics.
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Waaree Renewable Technologies Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹452 Cr, net profit ₹68 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Waaree Renewab.'s management said in earlier quarters
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Frequently Asked Questions
What were Waaree Renewable Technologies Ltd Q2 FY26 results?
Waaree Renewable Technologies expects continued strong growth in sales and revenue driven by a healthy unexecuted order book of 3.48 GWp to be executed over the next 12-15 months. Waaree Renewable Technologies reported strong H1 FY2026 performance: 81.12% revenue growth, 144.56% EBITDA growth, 148.21% PAT growth YoY.
What is Waaree Renewable Technologies Ltd share price analysis?
Waaree Renewable Technologies Ltd currently shows a neutral. The stock trades at a P/E of 17.1 with a market cap of ₹8,738 Cr. Investors should review the full earnings analysis for detailed insights.
Is Waaree Renewable Technologies Ltd planning capital expenditure?
Recent board approval for IPP projects includes 14 MWp (two projects in Maharashtra) and 37 MWp (one project in Rajasthan), planned for execution in H2 FY26 or later. - The company has acquired around 3% stake in a cooling solutions company, aiming for synergy by combining solar installation EPC business with cooling solutions. - No current major term loans; only Rs.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.