Waaree Energies Ltd. has formally notified the stock exchanges of an upcoming Analyst/Institutional Investor Day, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The event is scheduled for Thursday, May 07, 2026, and will be held in Mumbai.

Event Details

The investor day has been titled "Waaree Energies Ltd. 2.0 UNBOUND" and will serve as a platform for the company to interact with a group of investors and analysts. The key details of the event are outlined below:

Disclosure and Compliance

The company has clarified that all discussions during the event will be based solely on publicly available information. No unpublished price-sensitive information relating to the company will be disclosed during the interactions. The company has also noted that changes to the schedule may occur due to exigencies on the part of the host or the company.

The intimation was submitted to both BSE Limited and the National Stock Exchange of India Limited on May 04, 2026, and was signed by Rajesh Ghanshyam Gaur, Company Secretary & Compliance Officer of Waaree Energies Limited.

Waaree Energies has come under pressure following a brokerage note from Jefferies, which has assigned an Underperform rating on the stock with a target price of ₹2,395. The assessment reflects a combination of a significant quarterly earnings miss, deteriorating margins, and a weakening order book, painting a cautious near-term picture for the solar energy manufacturer.

Sharp Q4 Miss on EBITDA and PAT

Jefferies flagged a notably sharp miss in Waaree Energies' Q4 financial performance, with EBITDA and PAT falling short of estimates by approximately 26% and 25%, respectively. The underperformance was driven by two key factors: input cost inflation and an adverse product mix, both of which weighed heavily on the company's profitability during the quarter.

The following table summarises the key highlights from Jefferies' assessment:

Margin Outlook Remains Weak in the Near Term

Beyond the Q4 miss, Jefferies indicated that near-term margins are expected to stay weak, suggesting that the pressures from input costs and mix headwinds are not likely to abate quickly. This outlook has prompted the brokerage to cut its FY27 estimates for the company, reflecting a more conservative view of earnings recovery in the medium term.

Order Book Declines 12% QoQ

Adding to the concerns, Waaree Energies' order book declined by 12% on a quarter-on-quarter basis, signalling a potential softening in near-term demand visibility. A contracting order book, combined with margin pressures, forms the core basis for Jefferies' cautious stance on the stock.

Company Guides for 18–30% EBITDA Growth

Despite the near-term challenges, Waaree Energies has guided for 18–30% EBITDA growth at a later stage. However, Jefferies' Underperform rating and reduced FY27 estimates suggest the brokerage views this guidance with caution, given the current operating environment characterised by cost inflation and an adverse revenue mix.

The combination of a sharp Q4 earnings miss, weakening margins, a declining order book, and downward estimate revisions underscores the headwinds facing Waaree Energies in the near term, as reflected in Jefferies' Underperform call and target price of ₹2,395.