Highlights

• Waaree Renewable shares surged over 10% following strong FY26 financial performance.
• Revenue and profit more than doubled year-on-year, reflecting sharp growth trends.
• Order book visibility and solar project pipeline remained elevated during the period.

Shares of Waaree Renewable Technologies Limited (NSE:WAAREERTL) were trading at ₹1,173.40, up ₹113.10 or 10.67% as of April 17, 2026. The stock opened at ₹1,080.15 and touched an intraday high of ₹1,202.00, while the low remained at ₹1,080.15.

The VWAP stood at ₹1,172.19, indicating sustained buying interest near current levels. The sharp rise follows the company’s financial results announcement.

FY26 Financial Performance

The company reported revenue from operations of ₹3,331.42 crore for FY26, marking a 108.51% increase compared to ₹1,597.75 crore in FY25.

EBITDA for the year stood at ₹641.10 crore, up 106.21% YoY, while profit after tax (PAT) came in at ₹478.65 crore, rising 109.09% YoY.

Margins showed slight variation, with EBITDA margin at 19.24% for FY26 compared to 19.46% in FY25, while PAT margin remained largely stable at 14.37%.

Quarterly Performance

For Q4 FY26, revenue stood at ₹1,102.40 crore, reflecting a 131.31% YoY increase. EBITDA rose 63.71% YoY to ₹206.82 crore, while PAT increased 66.08% YoY to ₹155.72 crore.

The quarterly performance indicates continued execution momentum during the final quarter of the financial year.

Order Book and Pipeline

The company reported an unexecuted order book of 2.83 GWp, expected to be executed over the next 12–15 months.

Additionally, the bidding pipeline exceeded 36 GWp, indicating continued project opportunities in the renewable energy segment.

Recent project wins include solar power projects of 420 MWp, 35 MWp, and 14 MWp, reflecting ongoing order inflows.

Sector and Business Context

The renewable energy sector in India continues to see capacity additions, with solar contributing a significant share. Increased installations and project awards have supported activity in EPC and related segments.

The company has also expanded into battery energy storage systems and data centres, indicating diversification within the energy and infrastructure space.

Management Commentary

Manmohan Sharma said, “We are pleased to conclude FY26 with a stellar and consistent financial performance with revenue of ₹3,331.42 crore as compared to ₹1,597.75 crore for FY25, reflecting a robust growth of 108.51%.”

Key Risks

• Execution delays may impact realization of large order book.
• Margin fluctuations could arise due to input cost changes.
• Dependence on project pipeline may affect revenue visibility.
• Policy or regulatory changes may influence renewable sector growth.

Summary

Waaree Renewable Technologies shares moved higher after reporting FY26 financial results, with revenue and profit more than doubling year-on-year. The company also reported a sizable order book and a strong bidding pipeline, indicating continued project activity. Stock movement reflects market response to financial performance and order visibility, while future trends remain linked to execution and sector developments.

FAQs

What was Waaree Renewable’s FY26 revenue?
The company reported revenue of ₹3,331.42 crore, reflecting a 108.51% year-on-year increase.

How much profit did the company report in FY26?
Profit after tax stood at ₹478.65 crore, up 109.09% compared to FY25.

What is the current order book position?
The unexecuted order book stands at 2.83 GWp, to be executed over 12–15 months.