Waaree Energies Q2 & H1 FY27: Revenue up 47.3% to ₹15,449.5 Cr, Orderbook ₹59,200 Cr
Waaree Energies reported H1 FY27 revenue of ₹15,449.5 Cr, up 47.3% YoY. EBITDA rose 15.5% to ₹2,775.1 Cr, and PAT was ₹1,645.5 Cr. Operating cash flow surged 506.1% to ₹3,483.6 Cr. The orderbook stands at ~₹59,200 Cr. The company also approved a $37 Mn expansion in the US and the amalgamation of Indosolar Limited.
The announcement includes significant financial performance metrics, substantial capacity expansion, and a key corporate action (amalgamation), all of which are likely to have a material impact on investor perception and the company's future trajectory.
The company reported strong year-on-year growth in revenue, EBITDA, and a significant improvement in operating cash flow, along with a substantial orderbook. Expansion plans and a strategic amalgamation further support a positive outlook.
Waaree Energies Limited announced its unaudited financial results for the quarter and half-year ended September 30, 2026. The company reported strong performance driven by its "Waaree 2.0" strategy, with significant year-on-year growth in revenue, robust EBITDA, profitability, and operating cash flow.
For the half-year ended H1 FY27, revenue stood at ₹15,449.5 Crores, marking a 47.3% increase compared to H1 FY26. Operating EBITDA grew by 15.5% YoY to ₹2,775.1 Crores, while Profit After Tax (PAT) was ₹1,645.5 Crores. A notable highlight was the 506.1% YoY surge in operating cash flow to ₹3,483.6 Crores. The company's orderbook reached approximately ₹59,200 Crores.
In the second quarter of FY27 (Q2 FY27), revenue was ₹7,517.7 Crores, a 23.9% increase YoY. Operating EBITDA for the quarter was ₹1,335.2 Crores, with PAT at ₹753.6 Crores. The retail revenue segment showed exceptional growth, increasing by 191.0% YoY to ₹5,753.0 Crores in H1 FY27.
Operational highlights include module production of 6.3 GW in H1 FY27 (up from 4.9 GW in H1 FY26) and cell production of 1.9 GW (up from 0.8 GW). The company also approved an expansion of its Meyer Berger facility in Arizona, USA, with an investment of approximately $37 million to add 0.6 GW capacity. Furthermore, Waaree commenced advanced 5.15 GWh of automated BESS container manufacturing in Rola, Gujarat. A Scheme of Amalgamation for Indosolar Limited with Waaree Energies was also approved by the board, subject to regulatory approvals.
Mr. Jignesh Rathod, Whole Time Director & CEO, expressed confidence in the company's fundamentals and execution, highlighting the significant growth in retail business and domestic US manufacturing. He also outlined future growth expectations from Battery Energy Storage System (BESS), Transformers, Inverters, EPC T&D, and Green Hydrogen businesses, anticipating substantial capacities to be operational by FY28 across various segments.
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Waaree Energies Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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