{"id":173272,"date":"2026-01-22T03:17:50","date_gmt":"2026-01-22T08:17:50","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=173272"},"modified":"2026-01-22T03:17:50","modified_gmt":"2026-01-22T08:17:50","slug":"waaree-energies-q3-fy26-earnings-results","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/waaree-energies-q3-fy26-earnings-results\/","title":{"rendered":"Waaree Energies Q3 FY26 Earnings Results"},"content":{"rendered":"\n<p>Incorporated in December 1990, Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW. WEL has five solar module manufacturing facilities in India, with international presence.<\/p>\n\n\n\n<div style=\"height:34px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Q3 FY26 Earnings Results<\/strong><\/h2>\n\n\n\n<p>Waaree Energies Limited delivered record Q3 FY26 results with exceptional growth across key financial metrics, driven by strong execution and capacity ramp\u2011up.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Revenue from Operations<\/strong>: \u20b97,565.05 crore, up 118.8% YoY from \u20b93,457 crore in Q3 FY25 and up 24.7% QoQ from \u20b96,065.6 crore in Q2 FY26.<\/li>\n\n\n\n<li><strong>EBITDA<\/strong>: \u20b91,928.15 crore, up 167.2% YoY from \u20b9721 crore; EBITDA margin expanded to 25.5% from 20.9% YoY.<\/li>\n\n\n\n<li><strong>Profit After Tax (PAT)<\/strong>: \u20b91,106.79 crore, up 118.4% YoY from \u20b9506 crore and up 26% QoQ from \u20b9842 crore; PAT margin 14.6%.<\/li>\n\n\n\n<li><strong>Production Metrics<\/strong>:\n<ul class=\"wp-block-list\">\n<li>Solar Module Production: 3.51 GW (highest ever quarterly).\u200b<\/li>\n\n\n\n<li>Solar Cell Production: 0.75 GW.\u200b<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>9M FY26 Performance<\/strong>: Revenue \u20b920,394 crore, up ~90% YoY; already exceeding full FY25 performance.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Management Commentary &amp; Strategic Decisions \u2013 Q3 FY26<\/strong><\/h2>\n\n\n\n<p>Management attributed the record performance to highest\u2011ever quarterly production, strategic capacity commissioning, and strong execution amid India&#8217;s renewable energy boom.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Capacity Expansion<\/strong>: Commissioned 2.1 GW solar module facility at Chikhli and 3 GW at Samakhiali (Gujarat); additional 3.05 GW <a href=\"https:\/\/www.bseindia.com\/xml-data\/corpfiling\/AttachLive\/04a53de3-58b7-4046-a1f3-b34ea4ea6886.pdf\" target=\"_blank\" rel=\"noopener\">inverter manufacturing capacity<\/a> at Sarodhi.<\/li>\n\n\n\n<li><strong>Order Book<\/strong>: Robust unexecuted order book of 2.92 GWp (12\u201315 months execution); bidding pipeline ~29 GWp.<\/li>\n\n\n\n<li><strong>Recent Wins<\/strong>: Secured 257.3 MWp projects in Q3, including 217.5 MWp and 39.8 MWp ground\u2011mounted solar EPC contracts.<\/li>\n\n\n\n<li><strong>Guidance<\/strong>: Expects to exceed FY26 EBITDA guidance of \u20b96,000 crore, reflecting strong visibility and execution confidence.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"839\" height=\"1024\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Waaree-Energies-Q3-FY26-Earnings-Results-839x1024.png\" alt=\"\" class=\"wp-image-173273\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Waaree-Energies-Q3-FY26-Earnings-Results-839x1024.png 839w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Waaree-Energies-Q3-FY26-Earnings-Results-246x300.png 246w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Waaree-Energies-Q3-FY26-Earnings-Results-768x937.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Waaree-Energies-Q3-FY26-Earnings-Results-1259x1536.png 1259w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Waaree-Energies-Q3-FY26-Earnings-Results.png 1489w\" sizes=\"auto, (max-width: 839px) 100vw, 839px\" \/><\/figure>\n\n\n\n<div style=\"height:33px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Q2 FY26 Earnings Results<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Revenue from Operations<\/strong>: \u20b96,065.6 crore, up 69.7% YoY from \u20b93,574.4 crore and up 37% QoQ from \u20b94,597.2 crore in Q1 FY26.\u200b<\/li>\n\n\n\n<li><strong>EBITDA<\/strong>: \u20b91,567.3 crore, up 156.5% YoY from \u20b9610.9 crore (highest in company history); EBITDA margin 25.8%.\u200b<\/li>\n\n\n\n<li><strong>Profit After Tax (PAT)<\/strong>: \u20b9878.21 crore, up 133.8% YoY from \u20b9375.7 crore and up 13% QoQ from \u20b9772.9 crore.\u200b<\/li>\n\n\n\n<li><strong>Production<\/strong>: 2.64 GW in Q2 FY26.\u200b<\/li>\n<\/ul>\n\n\n\n<div style=\"height:33px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Management Commentary &amp; Strategic Directions \u2013 Q2 FY26<\/strong><\/h2>\n\n\n\n<p>Q2 FY26 marked sustained momentum with record production and profitability, setting the stage for even stronger Q3 performance. Strategic focus on scaling manufacturing capacity and executing large EPC projects continues to drive exceptional growth.<\/p>\n\n\n\n<p>\u200bTo view the company\u2019s previous earnings and latest concall transcripts,&nbsp;<a href=\"https:\/\/alphastreet.com\/india\/\">click here<\/a>&nbsp; to visit the Alphastreet India news channel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Incorporated in December 1990, Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW. WEL has five solar module manufacturing facilities in India, with international presence. Q3 FY26 Earnings Results Waaree Energies Limited delivered record Q3 FY26 results with exceptional growth across key financial metrics, driven [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":173273,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,5746],"tags":[1168],"class_list":["post-173272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-energy-stocks","tag-renewable-energy"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Waaree-Energies-Q3-FY26-Earnings-Results.png","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":177305,"url":"https:\/\/alphastreet.com\/india\/waaree-energies-shares-rise-after-double-digit-growth-in-quarterly-earnings\/","url_meta":{"origin":173272,"position":0},"title":"Waaree Energies Shares Rise After Double-Digit Growth in Quarterly Earnings","author":"Staff Correspondent","date":"January 23, 2026","format":false,"excerpt":"Waaree Energies Ltd (NSE: WAAREEENER, BSE: 544277) shares closed at \u20b92,608.60 on the National Stock Exchange on Thursday, up about 12 % on the day, after the company reported sharply higher quarterly results. The stock traded in a range of approximately \u20b92,560\u2013\u20b92,740 during the session. Market Capitalization At the closing\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":170335,"url":"https:\/\/alphastreet.com\/india\/waaree-energies-q1-fy26-earnings-results\/","url_meta":{"origin":173272,"position":1},"title":"Waaree Energies Q1 FY26 Earnings Results","author":"Chirag Gupta","date":"August 19, 2025","format":false,"excerpt":"Incorporated in December 1990, Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW.WEL has five solar module manufacturing facilities in India, with international presence. Waaree Energies is India\u2019s largest manufacturer and exporter of solar modules. As of FY24, they hold\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Waaree Energies Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/6-12.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/6-12.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/6-12.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/6-12.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/6-12.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/6-12.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":171592,"url":"https:\/\/alphastreet.com\/india\/waaree-energies-q2-fy26-earnings-results\/","url_meta":{"origin":173272,"position":2},"title":"Waaree Energies Q2 FY26 Earnings Results","author":"Chirag Gupta","date":"October 17, 2025","format":false,"excerpt":"Incorporated in December 1990, Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW.WEL has five solar module manufacturing facilities in India, with international presence. Presenting below are its Q2 FY26 earnings results. \u00a0 Q2 FY26 Earnings Results Revenue from Operations:\u00a0\u20b96,065.6\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Waaree Energies Q2 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Waaree-Energies-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Waaree-Energies-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Waaree-Energies-Q2-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Waaree-Energies-Q2-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Waaree-Energies-Q2-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Waaree-Energies-Q2-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":168057,"url":"https:\/\/alphastreet.com\/india\/waaree-energies-ltd-q4fy25-36-rise-in-profits\/","url_meta":{"origin":173272,"position":3},"title":"Waaree Energies Ltd Q4FY25; 36% rise in Profits","author":"Chirag Gupta","date":"April 23, 2025","format":false,"excerpt":"Incorporated in December 1990, Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW.WEL has five solar module manufacturing facilities in India, with international presence. Financial Results: Waaree Energies Ltd reported Revenues for Q4FY25 of \u20b94,004.00 Crores up from \u20b92,936.00 Crore\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/04\/1-13.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/04\/1-13.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/04\/1-13.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/04\/1-13.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/04\/1-13.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/04\/1-13.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":177206,"url":"https:\/\/alphastreet.com\/india\/premier-energies-q3-fy26-earnings-results\/","url_meta":{"origin":173272,"position":4},"title":"Premier Energies Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 23, 2026","format":false,"excerpt":"Incorporated in April 1995, Premier Energies Limited specializes in manufacturing integrated solar cells and solar panels. Its product portfolio includes solar cells, solar modules, monofacial and bifacial modules, as well as EPC and O&M solutions. Q3 FY26 Earnings Results Premier Energies delivered strong Q3 FY26 results with 13% revenue growth\u2026","rel":"","context":"In &quot;LATEST&quot;","block_context":{"text":"LATEST","link":"https:\/\/alphastreet.com\/india\/category\/latest\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":171935,"url":"https:\/\/alphastreet.com\/india\/premier-energies-q2-fy26-earnings-results\/","url_meta":{"origin":173272,"position":5},"title":"Premier Energies Q2 FY26 Earnings Results","author":"Chirag Gupta","date":"October 29, 2025","format":false,"excerpt":"Incorporated in April 1995, Premier Energies Limited specializes in manufacturing integrated solar cells and solar panels. Its product portfolio includes solar cells, solar modules, monofacial and bifacial modules, as well as EPC and O&M solutions. \u00a0 Q2 FY26 Earnings Results (Consolidated) Total Income: \u20b91,837 crore, up 20.3% YoY from \u20b91,527\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Premier Energies Q2 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Premier-Energies-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Premier-Energies-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Premier-Energies-Q2-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Premier-Energies-Q2-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Premier-Energies-Q2-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Premier-Energies-Q2-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/173272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1863"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=173272"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/173272\/revisions"}],"predecessor-version":[{"id":173274,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/173272\/revisions\/173274"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/173273"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=173272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=173272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=173272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}