{"id":177305,"date":"2026-01-23T06:21:56","date_gmt":"2026-01-23T11:21:56","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=177305"},"modified":"2026-01-23T06:21:56","modified_gmt":"2026-01-23T11:21:56","slug":"waaree-energies-shares-rise-after-double-digit-growth-in-quarterly-earnings","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/waaree-energies-shares-rise-after-double-digit-growth-in-quarterly-earnings\/","title":{"rendered":"Waaree Energies Shares Rise After Double-Digit Growth in Quarterly Earnings"},"content":{"rendered":"\n

Waaree Energies Ltd<\/em> (NSE: WAAREEENER, BSE: 544277) shares closed at \u20b92,608.60<\/strong> on the National Stock Exchange on Thursday, up about 12 %<\/strong> 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.<\/p>\n\n\n\n

Market Capitalization<\/strong><\/h2>\n\n\n\n

At the closing price on January 22, Waaree Energies\u2019 market capitalization stood near \u20b975,000 crore<\/strong>.<\/p>\n\n\n\n

Latest Quarterly Results<\/strong><\/h2>\n\n\n\n

For the third quarter of fiscal year 2026 ended December 31, 2025, Waaree Energies reported the following consolidated results compared with the year-ago quarter:<\/p>\n\n\n\n

    \n
  • Revenue from operations:<\/strong> \u20b97,565.05 crore, up 118.8 % YoY<\/strong> (Q3 FY25: ~\u20b93,457.29 crore).<\/li>\n\n\n\n
  • Net profit (Profit After Tax):<\/strong> \u20b91,106.79 crore, up 118.4 % YoY<\/strong> (Q3 FY25: ~\u20b9506 crore).<\/li>\n\n\n\n
  • <\/li>\n<\/ul>\n\n\n\n
    \"\"<\/figure>\n\n\n\n

    Segment Revenue Highlights (Q3 FY26 vs Q3 FY25):<\/strong><\/h2>\n\n\n\n
      \n
    • Solar photovoltaic modules:<\/strong> \u20b96,989.56 crore (Q3 FY25: \u20b93,108.29 crore).<\/li>\n\n\n\n
    • Generation of power:<\/strong> \u20b99.24 crore (Q3 FY25: \u20b97.52 crore).<\/li>\n\n\n\n
    • EPC contracts:<\/strong> \u20b9838.21 crore (Q3 FY25: \u20b9351.16 crore).<\/li>\n<\/ul>\n\n\n\n

      Reported EBITDA<\/strong> for the quarter was \u20b91,928.15 crore, up 167.2 % YoY<\/strong>, with EBITDA margin<\/strong> expanding to 25.49 %.<\/p>\n\n\n\n

      M&A \/ Strategic Investment Comments<\/strong><\/h3>\n\n\n\n

      Polysilicon Supply Investment<\/strong><\/p>\n\n\n\n

        \n
      • Management confirmed<\/em> that Waaree\u2019s ongoing capital expenditure program includes a USD 30 million strategic investment in United Solar Holding Inc.<\/strong>, a polysilicon producer in Oman, intended to secure upstream material supply for its expanding manufacturing footprint.<\/li>\n<\/ul>\n\n\n\n

        Operational & Financial Targets<\/strong><\/h2>\n\n\n\n
          \n
        • CEO Amit Paithankar stated that with \u201cdisciplined execution, prudent capital allocation and strategic diversification,\u201d Waaree is \u201con track\u201d to achieve its **FY26 EBITDA target of \u20b95,500 crore to \u20b96,000 crore,\u201d tying this guidance directly to the results announcement.<\/li>\n<\/ul>\n\n\n\n

          Performance Summary<\/strong> <\/h2>\n\n\n\n

          Waaree Energies stock closed up 7.55%<\/strong> at \u20b92,601.60<\/strong>. The company reported a 118.8%<\/strong> jump in Q3 revenue to \u20b97,565.05 crore<\/strong> and a record order book of \u20b960,000 crore<\/strong>. Growth was underpinned by massive capacity additions in Gujarat and strong demand for solar modules.<\/p>\n","protected":false},"excerpt":{"rendered":"

          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 price on January 22, Waaree […]<\/p>\n","protected":false},"author":2392,"featured_media":125416,"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":[392,1941,5746,5],"tags":[10169,14492],"class_list":["post-177305","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings","category-stock-analysis","category-energy-stocks","category-latest","tag-earnings","tag-financial-results"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":168057,"url":"https:\/\/alphastreet.com\/india\/waaree-energies-ltd-q4fy25-36-rise-in-profits\/","url_meta":{"origin":177305,"position":0},"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 "AlphaGraphs"","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":170335,"url":"https:\/\/alphastreet.com\/india\/waaree-energies-q1-fy26-earnings-results\/","url_meta":{"origin":177305,"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 "AlphaGraphs"","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":173272,"url":"https:\/\/alphastreet.com\/india\/waaree-energies-q3-fy26-earnings-results\/","url_meta":{"origin":177305,"position":2},"title":"Waaree Energies Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 22, 2026","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. Q3 FY26 Earnings Results Waaree Energies Limited delivered record Q3 FY26 results with exceptional growth\u2026","rel":"","context":"In "AlphaGraphs"","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\/2026\/01\/Waaree-Energies-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Waaree-Energies-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Waaree-Energies-Q3-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Waaree-Energies-Q3-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Waaree-Energies-Q3-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Waaree-Energies-Q3-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":171592,"url":"https:\/\/alphastreet.com\/india\/waaree-energies-q2-fy26-earnings-results\/","url_meta":{"origin":177305,"position":3},"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 "AlphaGraphs"","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":177436,"url":"https:\/\/alphastreet.com\/india\/waaree-energies-ltd-waareeener-q3-2026-earnings-call-transcript\/","url_meta":{"origin":177305,"position":4},"title":"Waaree Energies Ltd (WAAREEENER) Q3 2026 Earnings Call Transcript","author":"News desk","date":"January 23, 2026","format":false,"excerpt":"Waaree Energies Ltd (NSE: WAAREEENER) Q3 2026 Earnings Call dated Jan. 22, 2026 Corporate Participants: Amit Paithankar \u2014 Whole-Time Director and Chief Executive Officer Sonal Shrivastava \u2014 Chief Financial Officer Abhishek Pareek \u2014 Group Head, Finance Analysts: Nikunj Jain \u2014 Analyst Nitin Arora \u2014 Analyst Mohit Kumar \u2014 Analyst Dhruv\u2026","rel":"","context":"In "Earnings Call Transcripts"","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":161519,"url":"https:\/\/alphastreet.com\/india\/waaree-renewable-technologies-ltd-q4-fy24-earnings-conference-call-insights\/","url_meta":{"origin":177305,"position":5},"title":"Waaree Renewable Technologies Ltd Q4 FY24 Earnings Conference Call Insights","author":"Praveen","date":"May 22, 2024","format":false,"excerpt":"Key highlights from Waaree Renewable Technologies Ltd (534618) Q4 FY24 Earnings Concall Renewable Energy Growth Government initiatives like incentives, subsidies promoting renewable energy adoption. Renewable energy capacity addition of 18.48 GW in FY2023-24, 21% increase from previous year. Utility-scale renewable energy tenders exceeded 50 GW target, reaching 69 GW in\u2026","rel":"","context":"In "Concall Highlights"","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/177305","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\/2392"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=177305"}],"version-history":[{"count":2,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/177305\/revisions"}],"predecessor-version":[{"id":177314,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/177305\/revisions\/177314"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=177305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=177305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=177305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}