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Waaree Energies Limited has reported a strong financial performance for the first quarter of FY27, driven by robust execution across its solar manufacturing business and continued expansion into energy storage and power infrastructure. The company also secured new orders worth approximately ₹16,000 crore during the quarter, taking its total order book to around ₹61,500 crore, providing strong revenue visibility for the coming quarters.

For the quarter ended June 30, 2026, Waaree’s revenue from operations surged 79.22% year-on-year (YoY) to ₹7,931.79 crore, compared with ₹4,425.83 crore in the corresponding period last year. Operating EBITDA increased 44.38% YoY to ₹1,439.92 crore, while Profit After Tax (PAT) rose 15.39% YoY to ₹891.87 crore. The company reported an operating EBITDA margin of 18.15% and a PAT margin of 11.01%, as disclosed in its financial results.

During the quarter, Waaree achieved module production of 3.24 GW, representing a 41.51% YoY increase, supported by improved operational efficiency and manufacturing scale. The company said its 10 GW solar cell manufacturing facility at Unn, Gujarat, is progressing as planned and is expected to commence production during the current financial year. Waaree also strengthened its integrated renewable energy portfolio by acquiring a 55% equity stake in Associated Power Structures Private Limited, enhancing its power infrastructure capabilities. Additionally, the company commenced operations at its 5.15 GWh automated Battery Energy Storage System (BESS) container manufacturing facility in Rola, Gujarat.

Commenting on the results Mr. Jignesh Rathod, Whole Time Director & CEO, Waaree Energies Ltd said, “Waaree Energies delivered another quarter of strong operational and financial performance in Q1 FY27, reflecting the resilience of our integrated business model, disciplined execution and sustained demand across domestic and international markets. To date, we have achieved a record order book of approximately 61,500 crore.

The performance underscores Waaree’s ability to consistently deliver profitable growth while strengthening our manufacturing ecosystem, expanding our global footprint and building multiple high-growth clean energy businesses.

The quarter also marks the continued evolution of ‘Waaree 2.0’-the Company’s transformation from a leading solar module manufacturer into a diversified energy transition enterprise with multiple growth engines across the renewable energy value chain. We are now witnessing the early outcomes of this strategy. While our core solar manufacturing business continues to perform strongly, our newer businesses are beginning to contribute meaningfully to revenue, creating multiple growth levers for the future. Through continued investments across advanced manufacturing, energy storage, power infrastructure and global markets, we are building a diversified clean energy platform designed for long-term, sustainable value creation.

During the quarter, we expanded our manufacturing footprint, commenced India’s advanced automated BESS container manufacturing and strengthened our power infrastructure capabilities through the acquisition of Associated Power Structures. We also expanded our international presence with new business opportunities across Europe, the Middle East, New Zealand and Australia, reinforcing Waaree’s position as a trusted global energy transition partner.

Our robust and diversified order book provides strong revenue visibility and reflects the confidence customers place in Waaree’s manufacturing excellence and execution capabilities. Our strong balance sheet, phased capital deployment and expected cash flow generation from our core business over the next two years place us in a comfortable position to fund and execute our strategic expansion plans while maintaining disciplined capital allocation. Supported by our integrated energy transition platform and growing contribution from diversified businesses, we remain confident in our long-term growth trajectory and reaffirm our FY27 Operating EBITDA guidance of ₹7,000-7,700 crore.”

Waaree Energies Limited has reported a strong financial performance for the first quarter of FY27, driven by robust execution across its solar manufacturing business and continued expansion into energy storage and power infrastructure. The company also secured new orders worth approximately ₹16,000 crore during the quarter, taking its total order book to around ₹61,500 crore, providing strong revenue visibility for the coming quarters.

For the quarter ended June 30, 2026, Waaree’s revenue from operations surged 79.22% year-on-year (YoY) to ₹7,931.79 crore, compared with ₹4,425.83 crore in the corresponding period last year. Operating EBITDA increased 44.38% YoY to ₹1,439.92 crore, while Profit After Tax (PAT) rose 15.39% YoY to ₹891.87 crore. The company reported an operating EBITDA margin of 18.15% and a PAT margin of 11.01%, as disclosed in its financial results.

During the quarter, Waaree achieved module production of 3.24 GW, representing a 41.51% YoY increase, supported by improved operational efficiency and manufacturing scale. The company said its 10 GW solar cell manufacturing facility at Unn, Gujarat, is progressing as planned and is expected to commence production during the current financial year. Waaree also strengthened its integrated renewable energy portfolio by acquiring a 55% equity stake in Associated Power Structures Private Limited, enhancing its power infrastructure capabilities. Additionally, the company commenced operations at its 5.15 GWh automated Battery Energy Storage System (BESS) container manufacturing facility in Rola, Gujarat.

Commenting on the results Mr. Jignesh Rathod, Whole Time Director & CEO, Waaree Energies Ltd said, “Waaree Energies delivered another quarter of strong operational and financial performance in Q1 FY27, reflecting the resilience of our integrated business model, disciplined execution and sustained demand across domestic and international markets. To date, we have achieved a record order book of approximately 61,500 crore.

The performance underscores Waaree’s ability to consistently deliver profitable growth while strengthening our manufacturing ecosystem, expanding our global footprint and building multiple high-growth clean energy businesses.

The quarter also marks the continued evolution of ‘Waaree 2.0’-the Company’s transformation from a leading solar module manufacturer into a diversified energy transition enterprise with multiple growth engines across the renewable energy value chain. We are now witnessing the early outcomes of this strategy. While our core solar manufacturing business continues to perform strongly, our newer businesses are beginning to contribute meaningfully to revenue, creating multiple growth levers for the future. Through continued investments across advanced manufacturing, energy storage, power infrastructure and global markets, we are building a diversified clean energy platform designed for long-term, sustainable value creation.

During the quarter, we expanded our manufacturing footprint, commenced India’s advanced automated BESS container manufacturing and strengthened our power infrastructure capabilities through the acquisition of Associated Power Structures. We also expanded our international presence with new business opportunities across Europe, the Middle East, New Zealand and Australia, reinforcing Waaree’s position as a trusted global energy transition partner.

Our robust and diversified order book provides strong revenue visibility and reflects the confidence customers place in Waaree’s manufacturing excellence and execution capabilities. Our strong balance sheet, phased capital deployment and expected cash flow generation from our core business over the next two years place us in a comfortable position to fund and execute our strategic expansion plans while maintaining disciplined capital allocation. Supported by our integrated energy transition platform and growing contribution from diversified businesses, we remain confident in our long-term growth trajectory and reaffirm our FY27 Operating EBITDA guidance of ₹7,000-7,700 crore.”

Waaree Energies Limited has reported a strong financial performance for the first quarter of FY27, driven by robust execution across its solar manufacturing business and continued expansion into energy storage and power infrastructure. The company also secured new orders worth approximately ₹16,000 crore during the quarter, taking its total order book to around ₹61,500 crore, providing strong revenue visibility for the coming quarters.

For the quarter ended June 30, 2026, Waaree’s revenue from operations surged 79.22% year-on-year (YoY) to ₹7,931.79 crore, compared with ₹4,425.83 crore in the corresponding period last year. Operating EBITDA increased 44.38% YoY to ₹1,439.92 crore, while Profit After Tax (PAT) rose 15.39% YoY to ₹891.87 crore. The company reported an operating EBITDA margin of 18.15% and a PAT margin of 11.01%, as disclosed in its financial results.

During the quarter, Waaree achieved module production of 3.24 GW, representing a 41.51% YoY increase, supported by improved operational efficiency and manufacturing scale. The company said its 10 GW solar cell manufacturing facility at Unn, Gujarat, is progressing as planned and is expected to commence production during the current financial year. Waaree also strengthened its integrated renewable energy portfolio by acquiring a 55% equity stake in Associated Power Structures Private Limited, enhancing its power infrastructure capabilities. Additionally, the company commenced operations at its 5.15 GWh automated Battery Energy Storage System (BESS) container manufacturing facility in Rola, Gujarat.

Commenting on the results Mr. Jignesh Rathod, Whole Time Director & CEO, Waaree Energies Ltd said, “Waaree Energies delivered another quarter of strong operational and financial performance in Q1 FY27, reflecting the resilience of our integrated business model, disciplined execution and sustained demand across domestic and international markets. To date, we have achieved a record order book of approximately 61,500 crore.

The performance underscores Waaree’s ability to consistently deliver profitable growth while strengthening our manufacturing ecosystem, expanding our global footprint and building multiple high-growth clean energy businesses.

The quarter also marks the continued evolution of ‘Waaree 2.0’-the Company’s transformation from a leading solar module manufacturer into a diversified energy transition enterprise with multiple growth engines across the renewable energy value chain. We are now witnessing the early outcomes of this strategy. While our core solar manufacturing business continues to perform strongly, our newer businesses are beginning to contribute meaningfully to revenue, creating multiple growth levers for the future. Through continued investments across advanced manufacturing, energy storage, power infrastructure and global markets, we are building a diversified clean energy platform designed for long-term, sustainable value creation.

During the quarter, we expanded our manufacturing footprint, commenced India’s advanced automated BESS container manufacturing and strengthened our power infrastructure capabilities through the acquisition of Associated Power Structures. We also expanded our international presence with new business opportunities across Europe, the Middle East, New Zealand and Australia, reinforcing Waaree’s position as a trusted global energy transition partner.

Our robust and diversified order book provides strong revenue visibility and reflects the confidence customers place in Waaree’s manufacturing excellence and execution capabilities. Our strong balance sheet, phased capital deployment and expected cash flow generation from our core business over the next two years place us in a comfortable position to fund and execute our strategic expansion plans while maintaining disciplined capital allocation. Supported by our integrated energy transition platform and growing contribution from diversified businesses, we remain confident in our long-term growth trajectory and reaffirm our FY27 Operating EBITDA guidance of ₹7,000-7,700 crore.”

Waaree Energies Limited has reported a strong financial performance for the first quarter of FY27, driven by robust execution across its solar manufacturing business and continued expansion into energy storage and power infrastructure. The company also secured new orders worth approximately ₹16,000 crore during the quarter, taking its total order book to around ₹61,500 crore, providing strong revenue visibility for the coming quarters.

For the quarter ended June 30, 2026, Waaree’s revenue from operations surged 79.22% year-on-year (YoY) to ₹7,931.79 crore, compared with ₹4,425.83 crore in the corresponding period last year. Operating EBITDA increased 44.38% YoY to ₹1,439.92 crore, while Profit After Tax (PAT) rose 15.39% YoY to ₹891.87 crore. The company reported an operating EBITDA margin of 18.15% and a PAT margin of 11.01%, as disclosed in its financial results.

During the quarter, Waaree achieved module production of 3.24 GW, representing a 41.51% YoY increase, supported by improved operational efficiency and manufacturing scale. The company said its 10 GW solar cell manufacturing facility at Unn, Gujarat, is progressing as planned and is expected to commence production during the current financial year. Waaree also strengthened its integrated renewable energy portfolio by acquiring a 55% equity stake in Associated Power Structures Private Limited, enhancing its power infrastructure capabilities. Additionally, the company commenced operations at its 5.15 GWh automated Battery Energy Storage System (BESS) container manufacturing facility in Rola, Gujarat.

Commenting on the results Mr. Jignesh Rathod, Whole Time Director & CEO, Waaree Energies Ltd said, “Waaree Energies delivered another quarter of strong operational and financial performance in Q1 FY27, reflecting the resilience of our integrated business model, disciplined execution and sustained demand across domestic and international markets. To date, we have achieved a record order book of approximately 61,500 crore.

The performance underscores Waaree’s ability to consistently deliver profitable growth while strengthening our manufacturing ecosystem, expanding our global footprint and building multiple high-growth clean energy businesses.

The quarter also marks the continued evolution of ‘Waaree 2.0’-the Company’s transformation from a leading solar module manufacturer into a diversified energy transition enterprise with multiple growth engines across the renewable energy value chain. We are now witnessing the early outcomes of this strategy. While our core solar manufacturing business continues to perform strongly, our newer businesses are beginning to contribute meaningfully to revenue, creating multiple growth levers for the future. Through continued investments across advanced manufacturing, energy storage, power infrastructure and global markets, we are building a diversified clean energy platform designed for long-term, sustainable value creation.

During the quarter, we expanded our manufacturing footprint, commenced India’s advanced automated BESS container manufacturing and strengthened our power infrastructure capabilities through the acquisition of Associated Power Structures. We also expanded our international presence with new business opportunities across Europe, the Middle East, New Zealand and Australia, reinforcing Waaree’s position as a trusted global energy transition partner.

Our robust and diversified order book provides strong revenue visibility and reflects the confidence customers place in Waaree’s manufacturing excellence and execution capabilities. Our strong balance sheet, phased capital deployment and expected cash flow generation from our core business over the next two years place us in a comfortable position to fund and execute our strategic expansion plans while maintaining disciplined capital allocation. Supported by our integrated energy transition platform and growing contribution from diversified businesses, we remain confident in our long-term growth trajectory and reaffirm our FY27 Operating EBITDA guidance of ₹7,000-7,700 crore.”

Waaree Energies Limited has reported a strong financial performance for the first quarter of FY27, driven by robust execution across its solar manufacturing business and continued expansion into energy storage and power infrastructure. The company also secured new orders worth approximately ₹16,000 crore during the quarter, taking its total order book to around ₹61,500 crore, providing strong revenue visibility for the coming quarters.

For the quarter ended June 30, 2026, Waaree’s revenue from operations surged 79.22% year-on-year (YoY) to ₹7,931.79 crore, compared with ₹4,425.83 crore in the corresponding period last year. Operating EBITDA increased 44.38% YoY to ₹1,439.92 crore, while Profit After Tax (PAT) rose 15.39% YoY to ₹891.87 crore. The company reported an operating EBITDA margin of 18.15% and a PAT margin of 11.01%, as disclosed in its financial results.

During the quarter, Waaree achieved module production of 3.24 GW, representing a 41.51% YoY increase, supported by improved operational efficiency and manufacturing scale. The company said its 10 GW solar cell manufacturing facility at Unn, Gujarat, is progressing as planned and is expected to commence production during the current financial year. Waaree also strengthened its integrated renewable energy portfolio by acquiring a 55% equity stake in Associated Power Structures Private Limited, enhancing its power infrastructure capabilities. Additionally, the company commenced operations at its 5.15 GWh automated Battery Energy Storage System (BESS) container manufacturing facility in Rola, Gujarat.

Commenting on the results Mr. Jignesh Rathod, Whole Time Director & CEO, Waaree Energies Ltd said, “Waaree Energies delivered another quarter of strong operational and financial performance in Q1 FY27, reflecting the resilience of our integrated business model, disciplined execution and sustained demand across domestic and international markets. To date, we have achieved a record order book of approximately 61,500 crore.

The performance underscores Waaree’s ability to consistently deliver profitable growth while strengthening our manufacturing ecosystem, expanding our global footprint and building multiple high-growth clean energy businesses.

The quarter also marks the continued evolution of ‘Waaree 2.0’-the Company’s transformation from a leading solar module manufacturer into a diversified energy transition enterprise with multiple growth engines across the renewable energy value chain. We are now witnessing the early outcomes of this strategy. While our core solar manufacturing business continues to perform strongly, our newer businesses are beginning to contribute meaningfully to revenue, creating multiple growth levers for the future. Through continued investments across advanced manufacturing, energy storage, power infrastructure and global markets, we are building a diversified clean energy platform designed for long-term, sustainable value creation.

During the quarter, we expanded our manufacturing footprint, commenced India’s advanced automated BESS container manufacturing and strengthened our power infrastructure capabilities through the acquisition of Associated Power Structures. We also expanded our international presence with new business opportunities across Europe, the Middle East, New Zealand and Australia, reinforcing Waaree’s position as a trusted global energy transition partner.

Our robust and diversified order book provides strong revenue visibility and reflects the confidence customers place in Waaree’s manufacturing excellence and execution capabilities. Our strong balance sheet, phased capital deployment and expected cash flow generation from our core business over the next two years place us in a comfortable position to fund and execute our strategic expansion plans while maintaining disciplined capital allocation. Supported by our integrated energy transition platform and growing contribution from diversified businesses, we remain confident in our long-term growth trajectory and reaffirm our FY27 Operating EBITDA guidance of ₹7,000-7,700 crore.”

The Asian Development Bank (ADB) has approved an $850 million loan to support reforms that will speed up the rollout of the Government of India’s flagship rooftop solar program, boosting the resilience of Indian households through better access to affordable clean energy, mobilizing private sector investment, and strengthening the skills of grid personnel and rural entrepreneurs.

The financing for subprogram 2 of the Accelerating Affordable and Inclusive Rooftop Solar Systems Development Program supports the government’s flagship Pradhan Mantri Surya Ghar: Muft Bijli Yojana, which aims to install rooftop solar systems for 10 million low- and middle-income households, adding 30 gigawatts of residential solar capacity by fiscal year 2027.

“The program will help India expand rooftop solar at scale while making clean energy more affordable and accessible to millions of households,” said ADB Country Director for India Mio Oka. “It supports a people-centered energy transition by reducing exposure to energy price and supply shocks, strengthening distribution systems, creating green jobs, expanding opportunities for women, and building stronger domestic clean energy value chains.”

Subprogram 2 builds on subprogram 1, approved in November 2025, which established the policy, institutional, digital, financing, and market foundations for large-scale rooftop solar deployment. The new financing will help scale rooftop solar adoption by improving incentives, financing, grid readiness, utility engagement, skills, and digital monitoring, while supporting domestic manufacturing, storage, recycling, and household use of clean energy.

Upfront costs will be reduced and adoption accelerated under the program through financial assistance for at least 3.5 million rooftop installations, digital application and monitoring systems, distribution company participation, and private sector engagement.

The program will also support training and certification of at least 6,000 people—at least one-third of whom are women—and facilitate new model solar villages and innovative distributed solar projects. It will further strengthen vendor accountability, promote women’s participation in distributed renewable energy, and improve the safe handling and recycling of solar photovoltaic panels and battery waste.

ADB’s support is expected to contribute to India’s target of 30 gigawatts of cumulative rooftop solar capacity, reduce carbon dioxide equivalent emissions by 28.8 million tons, and expand access to affordable solar energy.

ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.