Waaree Renewable Technologies Limited announced stellar Q4FY26 consolidated financial results, reporting net profit of ₹1.55 billion compared to ₹938 million in the corresponding quarter of the previous year, marking a significant 66.08% year-on-year growth. The company's revenue from operations surged to ₹11 billion from ₹4.76 billion in Q4FY25, representing substantial business expansion of 131.31%.

Q4FY26 Financial Performance

The renewable energy company delivered robust quarterly performance across key financial metrics, with EBITDA reaching ₹2.06 billion compared to ₹1.26 billion in the previous year, showing 63.71% growth. However, EBITDA margin compressed to 18.76% from 26.51% year-on-year, while PAT margin declined to 14.13% from 19.67%, reflecting operational challenges despite revenue growth.

Annual Performance FY26

For the full financial year FY26, Waaree Renewable Technologies maintained its growth trajectory with consolidated net profit reaching ₹478.65 crores, up 109.09% from ₹228.92 crores in FY25. Annual revenue from operations stood at ₹3,331.42 crores compared to ₹1,597.75 crores in the previous year, showing 108.51% growth. EBITDA for FY26 reached ₹641.10 crores versus ₹310.90 crores in FY25, representing 106.21% growth.

Board Meeting Outcomes and Corporate Governance

The Board of Directors meeting held on April 16, 2026, approved several key corporate governance decisions alongside the financial results. The board approved the appointment of M/s KC Mehta & Co. LLP, Chartered Accountants, as Internal Auditor for FY 2026-27. Additionally, the board approved the re-appointment of M/s KKC & Associates LLP, Chartered Accountants, as Statutory Auditors for five consecutive years from the 27th Annual General Meeting until the 32nd Annual General Meeting, subject to shareholder approval.

Earnings Conference Call and Investor Communication

Following the financial results announcement, the company conducted an earnings conference call with investors and shareholders on April 17, 2026. In compliance with Regulation 46 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the audio recording of the earnings call has been made available on the company's website for transparency and investor access.

Order Book and Business Outlook

Waaree Renewable Technologies maintains a strong unexecuted order book of 2.83 GWp slated for execution over the next 12-15 months, providing robust revenue visibility. The company's bidding pipeline continues to gain momentum, reaching over 36 GWp. Recent order wins include a 420 MWp ground mounted solar power project, a 35 MWp ground mounted solar power project, and a 14 MWp ground mounted solar power project.

Management Commentary and Market Position

CFO Manmohan Sharma highlighted the company's stellar performance, noting that India's renewable energy sector continues building strong momentum with total installed renewable capacity crossing 274 GW. Solar contributed over 150 GW as of March 2026, with solar additions rising sharply to over 44 GW in FY26 compared to approximately 24 GW in the previous year. Solar accounted for approximately 82% of total renewable capacity additions in FY26, establishing it as the primary driver of India's clean energy transition.

The EPC arm of the Waaree Group has expanded into Battery Energy Storage Systems and data centres, positioning itself among leading players in the solar EPC space with disciplined execution and operational efficiency focus.

Waaree Renewable Technologies Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving a special resolution to increase the threshold for loans, guarantees, and investments under Section 186 of the Companies Act, 2013. The voting process was conducted through remote e-voting from March 16, 2026 to April 14, 2026, with results announced on April 15, 2026.

Official Communication to Stock Exchanges

The company formally communicated the postal ballot results to BSE Limited and National Stock Exchange of India Limited through an official letter dated April 15, 2026. The communication was signed by Company Secretary Heema Shah (ACS 52919) and included the scrutinizer's report as required under regulatory compliance.

Voting Results Overview

The postal ballot witnessed strong shareholder participation, with detailed voting statistics demonstrating broad-based support for the proposed resolution.

Resolution Approval Details

The special resolution to increase the threshold of loans, guarantees, providing of securities and making of investments in securities under Section 186 of the Companies Act, 2013 received overwhelming support across all shareholder categories.

Category-wise Voting Pattern

The voting results showed unanimous support from promoters and strong backing from retail investors, while institutional investors showed mixed response.

Promoter and Promoter Group

• Shares Held: 77,550,245
• Votes Polled: 77,550,245 (100% participation)
• Votes in Favour: 77,550,245 (100%)
• Votes Against: 0 (0%)

Public Institutions

• Shares Held: 1,991,190
• Votes Polled: 1,713,726 (86.07% participation)
• Votes in Favour: 224,899 (13.12%)
• Votes Against: 1,488,827 (86.88%)

Public Non-Institutions

• Shares Held: 24,804,357
• Votes Polled: 1,140,868 (4.60% participation)
• Votes in Favour: 1,135,095 (99.49%)
• Votes Against: 5,773 (0.51%)

Scrutinizer Certification

Shruti Somani, Practicing Company Secretary (ACS No. 49773), served as the appointed scrutinizer for the postal ballot process. The scrutinizer's report dated April 15, 2026 confirmed the validity of the voting process and declared the resolution as duly passed with the requisite majority.

The voting results and scrutinizer's report have been made available on the company's website at www.waareertl.com and on the CDSL website, ensuring transparency and compliance with regulatory requirements under the SEBI Listing Regulations.