Waaree Energies , a leading player in the solar energy sector, has reported exceptional financial results for the first quarter, showcasing robust growth across key metrics.

Financial Highlights

The company's revenue soared to ₹4,597.00 crores, marking a significant 31% year-on-year growth. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) witnessed a remarkable 83% surge, reaching ₹1,169.00 crores. This impressive performance led to EBITDA margins expanding by 700 basis points to 25.4%. Profit after tax (PAT) jumped by 93% to ₹773.00 crores, underscoring the company's strong financial health.

Operational Performance

Waaree Energies achieved a record production of 2.3 GW during the quarter, representing a 64% year-on-year increase. This production milestone highlights the company's growing manufacturing capabilities and its ability to meet increasing market demand.

Order Book and Pipeline

The company's order book remains robust, standing at 25 GW worth ₹49,000.00 crores. Additionally, Waaree Energies boasts an impressive pipeline exceeding 100 GW, indicating strong future growth potential. The revenue mix showed a balanced distribution, with one-third coming from international sales and two-thirds from domestic markets.

Expansion Plans

Waaree Energies has outlined ambitious expansion plans across multiple segments:

• Module capacity: Targeting 26 GW by FY27
• Cell capacity: Aiming for 16 GW by FY27
• Ingot-wafer capacity: Planning 10 GW by FY27

The company is also venturing into new areas with planned capacities of:

• 3.5 GWh for battery storage
• 3 GW for inverters
• 300 MW for hydrogen electrolyser

Additional Investments

The board has approved an additional investment of ₹2,754.00 crores for expanding cell and ingot-wafer capacities by 4 GW each.

US Market and New Orders

Waaree Energies secured 2.23 GW of new orders from the United States during the quarter. The company is closely monitoring anti-dumping investigations while leveraging its global manufacturing footprint to navigate potential challenges.

Management Guidance

The management has maintained its EBITDA guidance of ₹5,500.00-6,000.00 crores for the fiscal year, demonstrating confidence in the company's growth trajectory.

Analyst Call Highlights

During the earnings conference call, Waaree Energies' management provided additional insights:

• The company is on track to reach 25 GW of module manufacturing capacity in the next six months.
• Waaree is expanding its global footprint, with a focus on the US market and exploring opportunities in Europe and the Middle East.
• The company is actively managing its supply chain to maintain gross margins amidst fluctuating input costs.
• Waaree's US manufacturing facility is fully booked, with plans to double capacity to 3.2 GW in the next 6-9 months.

With its strong financial performance, robust order book, and strategic expansion plans, Waaree Energies appears well-positioned to capitalize on the growing demand for solar energy solutions both domestically and internationally.

Waaree Energies Limited , a prominent player in the solar energy sector, has marked a significant milestone in its expansion journey. The company has officially commenced operations at its new state-of-the-art solar module manufacturing facility in Gujarat, India.

New Facility Details

The new manufacturing unit, boasting a capacity of 1.80 GW, is located at Village Degam, Taluka Chikli, in the Navsari district of Gujarat. Operations at this cutting-edge facility kicked off on July 31, 2025, at 10:00 am, as confirmed by the company in its regulatory filing to the BSE and NSE.

Strategic Expansion

This development represents a substantial boost to Waaree Energies' production capabilities in the solar module segment. The strategic location of the facility in Gujarat, a state known for its pro-business environment and focus on renewable energy, could potentially offer logistical and operational advantages to the company.

Regulatory Compliance

In line with its commitment to transparency and regulatory compliance, Waaree Energies promptly informed the stock exchanges about this significant development. The company's Company Secretary and Compliance Officer, Rajesh Ghanshyam Gaur, signed off on the regulatory disclosure, underlining the importance of this expansion in Waaree's growth strategy.

Market Implications

The launch of this new facility could have far-reaching implications for Waaree Energies' market position in the highly competitive solar energy sector. With an additional 1.80 GW of solar module manufacturing capacity, the company is well-positioned to meet the growing demand for solar modules in India and potentially in export markets.

This expansion aligns with India's ambitious renewable energy goals and the government's push for domestic manufacturing in the solar sector. It may also contribute to job creation and economic development in the Navsari district of Gujarat.

Investors and industry observers will likely keep a close watch on how this increased production capacity translates into Waaree Energies' market share and financial performance in the coming quarters.