Waaree Renewable Q4 FY26 Results: Profit Up 66%, Revenue Doubles

By Kotak News Desk
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17 Apr 2026 at 10:46 AM IST
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Market News
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4 minutes read

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Summary

Waaree Renewable’s Q4 profit rose to ₹156 crore from ₹94 crore, while revenue jumped to ₹1,102 crore. Margins narrowed despite growth. Read more to see what’s driving the numbers.

Waaree Renewable Technologies Ltd reported a 66% year-on-year rise in net profit for the March quarter at about ₹156 crore, compared to ₹94 crore a year ago. Revenue came in at roughly ₹1,102 crore, more than double last year’s ₹477 crore, reflecting a sharp increase in project execution.

Waaree Renewables shares closed at ₹1,060.30 on the National Stock Exchange (NSE), up a little over 2% on the day results were announced.

On 17 April, at 9:28 AM, the stock opened 9.47% up at ₹1,160.75.

Key Q4 Numbers At A Glance

Net profit: ₹156 crore vs ₹94 crore year-on-year (YoY).
Revenue: ₹1,102 crore vs ₹477 crore YoY.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA): ₹206.8 crore vs ₹126.3 crore YoY.
EBITDA margin: 18.8% vs 26.5% YoY.
Unexecuted engineering, procurement, and construction (EPC) order book: 2.83 gigawatt peak (GWp).

What Drove Waaree Renewable’s Q4 Numbers?

EBITDA rose 63.7% year-on-year to ₹206.8 crore. Margin fell to 18.8% from 26.5%, indicating higher costs relative to revenue.

Execution picked up during the quarter. The company added new orders, including a 420 megawatt peak (MWp) ground-mounted solar project, along with projects of 35 MWp and 14 MWp.

The unexecuted order book stood at 2.83 gigawatt peak (GWp), with execution planned over the next 12–15 months. The bidding pipeline remained above 36 GWp.

Also Read - Alok Industries Q4 FY26: Revenue Up 3%, But Loss Widens Sharply YoY

How Does The Full-Year Performance Compare?

For FY26, revenue from operations stood at ₹3,331 crore, up from ₹1,598 crore in FY25. EBITDA rose to ₹641 crore from ₹311 crore. Net profit increased to ₹479 crore from ₹229 crore.

In the previous quarter, profit had declined 16.7% year-on-year to ₹53.5 crore, while EBITDA fell 18% to ₹72 crore. The March quarter numbers indicate a recovery in earnings.

The current order book provides visibility for execution over the next year. Margins remain lower than last year's levels, a key figure under observation.

Sources:

NDTV Profit

Mint

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