Waaree Energies Q4 Profit Rises 75% To ₹1,126 Crore; Revenue Jumps 112% YoY To ₹8,480 Crore

Mumbai: Waaree Energies reported a 74.76 percent year-on-year rise in consolidated net profit to Rupees 1,126 crore in Q4 FY26, while revenue from operations surged 111.80 percent to Rupees 8,480 crore. Sequentially, profit rose marginally from Rupees 1,107 crore in Q3, while revenue increased from Rupees 7,565 crore. The quarterly trend reflects strong growth momentum through the year, despite a moderation in operating margins in the final quarter.

Company Expansion

According to the consolidated financials in the investor presentation (page 30), the company delivered robust top-line expansion driven by higher scale and execution. Revenue rose sharply from Rupees 4,004 crore in Q4 FY25 to Rupees 8,480 crore in Q4 FY26, while profit climbed from Rupees 644 crore in the year-ago period. On a sequential basis, revenue grew 12.10 percent, highlighting continued demand strength across segments.

EBITDA And Operating Costs

Sequential growth, however, showed mixed trends at the operating level. EBITDA declined 18.22 percent quarter-on-quarter to Rupees 1,577 crore from Rupees 1,928 crore, with margins narrowing to 18.59 percent from 25.49 percent in Q3. The decline reflects higher operating costs, including material consumption and other expenses, which rose alongside scale. Profit before tax also fell 4.16 percent sequentially to Rupees 1,408 crore. Despite this, PAT remained stable due to relatively lower tax outgo in the quarter.

Demand Across Domestic Markets

For the full year FY26, Waaree Energies reported revenue of Rupees 26,537 crore, up 83.72 percent from Rupees 14,445 crore in FY25. Net profit more than doubled, rising 101.45 percent to Rupees 3,884 crore compared to Rupees 1,928 crore last year. The strong annual performance was supported by scale-up in operations and sustained demand across domestic and export markets.

The quarterly trajectory, as seen on page 29 of the presentation, shows steady revenue growth from Rupees 4,426 crore in Q1 to Rupees 6,066 crore in Q2, Rupees 7,565 crore in Q3, and Rupees 8,480 crore in Q4, while profit rose from Rupees 773 crore to Rupees 878 crore, Rupees 1,107 crore, and Rupees 1,126 crore respectively, indicating consistent earnings expansion through the year.

Disclaimer: This article is based on an investor presentation and is not a complete UFR or investment advice.