News ArticleWaaree Energies Posts ₹7,518 Cr Q2 FY27 Revenue and ₹754 Cr Profit with Capacity Expansion Plans
Company confirms operating EBITDA guidance for FY27 and strengthens U.S. module production capacity
Waaree Energies Limited posted revenue from operations at ₹7,518 crore for Q2 FY27, a 24% increase year-over-year, with a profit after tax of ₹754 crore. The company maintains its operating EBITDA guidance for FY27 and announced capacity expansions including a US$37 million investment in its Arizona manufacturing facility, boosting total US capacity to 4.8 GW. Its order book remains strong at approximately ₹59,200 crore as of October 2026.
Waaree Energies Limited
Investor Presentation
Waaree Energies Limited reported a 24% year-on-year revenue increase to ₹7,518 crore for the quarter ended September 30, 2026, alongside a profit after tax of ₹754 crore. The company is advancing capacity expansions and maintains a robust order book exceeding ₹59,200 crore.
The company’s operating EBITDA for Q2 FY27 stood at ₹1,335 crore with a margin of 17.8%. Despite a slight quarter-on-quarter dip in EBITDA, Waaree reaffirmed its full fiscal year operating EBITDA guidance between ₹7,000 crore and ₹7,700 crore.
Waaree announced a $37 million investment to upgrade its Arizona solar module manufacturing facility, increasing capacity from 1.0 GW to 1.6 GW, thereby taking total U.S. capacity to 4.8 GW. It also commissioned an additional 1.10 GW inverter capacity in Gujarat, India, raising total inverter capacity to 4.15 GW.
The company’s consolidated order book remains robust at approximately ₹59,200 crore as of late October 2026, including significant module orders totaling 25.6 GW.
Geographically, Waaree has diversified revenue streams across domestic India, the US, and export markets, with retail revenue and overseas sales showing strong growth.
Solar park capacity development is progressing, with 118.8 MW commissioned at Neemuch, Madhya Pradesh. The company holds power purchase agreements (PPAs) relating to 1,778 MW of solar capacity and 2,800 MWh of battery energy storage system (BESS).
Highlights
- Q2 FY27 revenue reached ₹7,518 crore, up 24% YoY.
- Profit after tax recorded ₹754 crore with 9.8% margin.
- Operating EBITDA stood at ₹1,335 crore, margin at 17.8%.
- Order book valued at approximately ₹59,200 crore as of October 2026.
- US$37 million investment to increase Arizona module manufacturing capacity to 1.6 GW.
- Total US solar module capacity increased to 4.8 GW following expansion.
Key Data Snapshot
What happened
- Waaree Energies reported consolidated revenue of ₹7,518 crore for Q2 FY27, reflecting a 24% increase year-over-year.
- Profit after tax for the quarter was ₹754 crore, representing a 9.8% profit margin.
- Operating EBITDA was ₹1,335 crore with a margin of 17.8%, slightly lower than the prior quarter but reaffirmed full year guidance.
- The company announced a US$37 million investment to expand its solar module capacity in Arizona from 1.0 GW to 1.6 GW, increasing total U.S. capacity to 4.8 GW.
Key details
- The consolidated order book stood at approximately ₹59,200 crore as of October 26, 2026, supporting future revenue visibility.
- Waaree commissioned an additional 1.10 GW of inverter capacity at Sarodhi, Gujarat, raising total inverter capacity to 4.15 GW.
- Power purchase agreements include 1,778 MW of solar capacity and 2,800 MWh of battery storage capacity under development.
- The company has diversified revenue streams across domestic India, the US market, and exports with demonstrated growth in retail and overseas segments.
Financial performance
- Q2 FY27 revenue of ₹7,518 crore, up 24% from ₹6,066 crore in Q2 FY26.
- Profit after tax of ₹754 crore compared to ₹878 crore in the same quarter previously.
- Operating EBITDA declined slightly by 5.06% year-over-year to ₹1,335 crore but remains within guidance.
- The operating EBITDA margin decreased from 23.19% in Q2 FY26 to 17.8% in Q2 FY27 due to changes in cost structure and investments.
Highlights
- Q2 FY27 revenue reached ₹7,518 crore, up 24% YoY.
- Profit after tax recorded ₹754 crore with 9.8% margin.
- Operating EBITDA stood at ₹1,335 crore, margin at 17.8%.
- Order book valued at approximately ₹59,200 crore as of October 2026.
- US$37 million investment to increase Arizona module manufacturing capacity to 1.6 GW.
- Total US solar module capacity increased to 4.8 GW following expansion.
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Source Information
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