| Revenue growth | Q2 revenue grew 23.9% YoY; H1 revenue up 47.3% led by retail. |
|---|---|
| Margins | Stable 18% H1 EBITDA margins supported by retail and US IRA. |
| Order book | ₹59,500 Cr total; rationalized by 3GW to mitigate US pricing risks. |
| Demand visibility | Strong via ₹59,500 Cr order book and PM Surya Ghar scheme. |
| Management confidence | Balanced; highly confident in retail but defensive regarding US regulatory shifts. |
Growth
H1 revenue surged 47.3% YoY, underpinned by a 2x jump in high-margin retail sales and US incentives.
Outlook
Management reaffirmed FY27 EBITDA guidance of ₹7,000–7,700 Cr with 10GW wafer capacity live by September 2027.
Risks
US Section 232 duties forced order book pruning; domestic ALMM policy shifts caused temporary utilization dips.
Earnings Call Transcript filed with NSE, NSE: WAAREEENER. Summary written with AI assistance from the document.
Waaree Energies Ltd: key numbers
- Share price
- ₹2,238.00
- Market cap
- ₹64,376 Cr
- Revenue (annual)
- ₹26,537 Cr
- Net profit (annual)
- ₹3,711 Cr
- P/E (TTM)
- 17.4×Sector 42.1×
- Promoter holding
- 64.12%+0.00% QoQ
- FII holding
- 8.57%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Waaree Energies Ltd
All →Waaree Energies Acquisition Worth ₹0.01 Cr
Waaree Energies is acquiring 100% of Waaree Green Data Centers for Rs.0.01 Crore cash, entering data centres. The target has not commenced operations and no revenue is reported.
- Value
- ₹0.01 Cr
- Execution
- Financial Year 2026-27
Waaree Energies Investor Presentation: Key Takeaways
Q2FY27 revenue ₹7,518 Cr (+24% YoY), operating EBITDA ₹1,335 Cr (17.8% margin vs 23.2%), PAT ₹754 Cr (-14% YoY). Retail-led growth offsets US export disruption. FY27 EBITDA guidance reaffirmed.
Waaree Energies Legal & Regulatory
Waaree Energies reported a designated person's contra trade made without pre-clearance under its insider trading code. The company issued a warning and ordered ₹0.04 Crore of profit disgorged to SEBI's IPEF.
- Value
- ₹0.04 Cr
Waaree Energies Results Update
Waaree Energies released its Q2 and H1 FY27 earnings press release, with H1 revenue of ₹15,449.5 Crore up 47.3% YoY. The release also reports PAT, a ~₹59,200 Crore order book and a US expansion approval.
- Order book
- ₹59,200 Cr
Waaree Energies Employee Stock Options
Waaree Energies granted 5,800 stock options to eligible employees under its ESOP 2021 at an exercise price of Rs.10 per option. The grant covers equity shares of Rs.10 face value.
- Execution
- Options vest over 6 years from grant date; exercisable within 4 years of vesting
Waaree Energies Q2 FY27 Results: Net Profit ₹753.6 Cr, Down 14.2% YoY
Waaree Energies Ltd reported revenue from operations of ₹7,518 Cr (+23.9% YoY) and net profit of ₹753.6 Cr (-14.2% YoY) for Q2 FY27.
- Key figure
- Net profit ₹753.6 Cr · -14.2% YoY