Waaree Energies net profit jumps nearly 93% to ₹773 cr in Apr-Jun

Waaree Energies on Monday posted nearly 93 per cent rise in its net profit to ₹773 crore in the June quarter compared to the year-ago period, mainly on the back of higher revenues.

The company had reported a net profit of ₹401.13 crore in the same quarter a year ago, a statement said. Total revenues rose to ₹4,597.18 crore in the quarter from ₹3,496.41 crore in the same period a year ago.

The company said it achieved the highest quarterly module production of 2.3 GW in the first quarter of FY26, driven by strong operational focus, and cell production continues to ramp up.

The Board of Directors also approved an additional capital expenditure (capex) of ₹2,754 crore for the expansion of cell capacity by 4 GW in Gujarat and Ingot-wafer by 4 GW in Maharashtra.

The capex will be spread over FY 2026-27 and will be financed through a combination of internal accruals and borrowed capital.

The board has also approved the proposal for the acquisition of 100 per cent shareholding of Voltshift Energy Transition Private Limited (a step-down subsidiary) from Waaree Forever Energies Private Limited (wholly owned subsidiary).

Dr. Amit Paithankar, Whole Time Director & CEO, Waaree Energies, said, "On the demand side, we have a robust order book of ₹49,000 crore and a global pipeline of 100+ GW, reflecting positive market sentiments across key geographies. This quarter, Waaree achieved its highest-ever production of modules at 2.3 GW, underscoring the success of our efforts to improve production efficiency.

"Our factory build-out projects in India and the US remain on track. A strong and sharp focus on costs and profitability is reflected in our financials. We maintain our FY26 Ebitda guidance of ₹5,500 to ₹6,000 crore."  Headquartered in Mumbai, Waaree Energies operates manufacturing facilities with an installed capacity of 15 GW for solar PV modules and 5.4 GW for solar cells.