Waaree Renewable Technologies Ltd
Waaree Renewable Technologies Q4 FY26 earnings call: Revenue & Margins
Q4 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Waaree Renewable Technologies expects continued growth supported by strong industry momentum and government renewable push. Order book of 2.8 GW provides strong revenue visibility; additional orders expected in coming quarters enhancing execution volume.
From Waaree Renewable Technologies Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Waaree Renewable Technologies expects continued growth supported by strong industry momentum and government renewable push.
- The company completed 2,727 MW in FY26 (highest ever) with an unexecuted order book of 2.83 GW, providing strong revenue visibility.
- A pipeline of ~36 GW (23 GW domestic, 12 GW international) is being pursued, indicating potential future order inflows.
- Despite a slight order book decline from 3.2 GW to 2.8 GW YoY, order inflows remain steady (~2.3 GW in FY26), showing consistent demand.
- Expansion into Battery Energy Storage Systems (BESS) is underway, with revenues expected to start in the current financial year, opening new growth avenues.
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Profitability & Margins
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Capital Expenditure Plans
- Current IPP capacity is around 54 MW operational, generating INR 26 crores revenue for FY26.
- Additional 227 MW IPP projects are under construction, funded through internal accruals with no debt tied up yet.
- Capex for solar capacity installation is roughly INR 3 to 3.5 crores per megawatt peak.
- The company plans smaller-size IPP projects to generate steady long-term revenue but will remain primarily focused on EPC business.
- No clarity yet if future power infrastructure assets will be housed under Waaree Renewable Technologies or other group companies.
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Top-ranked in Electrical Equipment
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- Current order book stands at approximately 2.8 gigawatts, to be executed over the next 12-15 months.
- Order book has declined from 3.2 GW to 2.8 GW year-on-year (March vs. March).
- Despite execution of over 2.7 GW in the last year, the order inflow remains robust with a pipeline of about 36 GW (23 GW domestic and ~12 GW international).
- The company is actively engaged in bilateral discussions and tender opportunities, selectively bidding based on margin and risk-reward criteria.
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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 Q4 FY26 results?
Waaree Renewable Technologies expects continued growth supported by strong industry momentum and government renewable push. Order book of 2.8 GW provides strong revenue visibility; additional orders expected in coming quarters enhancing execution volume.
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 18.5 with a market cap of ₹9,454 Cr. Investors should review the full earnings analysis for detailed insights.
Is Waaree Renewable Technologies Ltd planning capital expenditure?
Current IPP capacity is around 54 MW operational, generating INR 26 crores revenue for FY26.
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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.