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Waaree Energies shares jump 6% as Q1 profit nearly doubles; details here
The electrical equipment maker's stock rose as much as 5.76 per cent during the day to ₹3,291 per share, the biggest intraday rise since June 30 this year. The stock pared gains to trade 4.7 per cent higher at ₹3,260 apiece, compared to a 0.2 per cent decline in Nifty 50 as of 10:50 AM.
Shares of the company snapped two consecutive days of decline and currently trade at 4.8 times the average 30-day trading volume, according to Bloomberg. The counter has risen 13.8 per cent this year, compared to a 4.5 per cent advance in the benchmark Nifty 50. Waaree Energies has a total market capitalisation of ₹93,400.08 crore.
Waaree Energies Q1 results
The company posted a 93 per cent rise in its net profit to ₹773 crore in the June quarter compared to the year-ago period. The company had reported a net profit of ₹401.13 crore in the same quarter a year ago.
The jump in the bottom line came mainly on the back of higher revenues. Total revenues rose to ₹4,597.18 crore in the quarter from ₹3,496.41 crore in the same period a year ago.
The company said it achieved the highest quarterly module production of 2.3 GW in the first quarter of FY26, driven by a strong operational focus, and cell production continues to ramp up.
"On the demand side, we have a robust order book of ₹49,000 crore and a global pipeline of 100+ GW, reflecting positive market sentiments across key geographies," Amit Paithankar, whole-time director and chief executive officer at Waaree Energies, said. "This quarter, Waaree achieved its highest-ever production of modules at 2.3 GW, underscoring the success of our efforts to improve production efficiency."
Waaree Energies approves additional capex
The firm's board approved an additional capital expenditure (capex) of ₹2,754 crore for the expansion of cell capacity by 4 Gigawatt (Gw) in Gujarat and Ingot-wafer by 4 Gw in Maharashtra. The capex will be spread over FY 2026-27 and will be financed through a combination of internal accruals and borrowed capital.
About Waaree Energies
Established in 1990, Waaree Energies is India's leading renewable energy company, accelerating the global energy transition. Headquartered in Mumbai, it operates manufacturing facilities with an installed capacity of 15 gigawatt (Gw) for solar PV modules and 5.4 Gw for solar cells.
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