Mumbai: Waaree Energies witnessed a sharp rise in its shares in early morning trades on January 22 as the solar energy manufacturing company reported strong Q3 FY26 results. The company’s revenues from operations rose to ₹7,565 Cr, a 118.8% rise from the previous year, while its Profit After Tax (PAT) rose to ₹1,106 Cr, a 118.4% YoY increase. During the quarter, the company added orders worth ₹13,000 crore, taking its total order pipeline to ₹60,000 crore or 100+ GW.
The company has boosted its solar module production by 94% to 3.5GW, even ramping up its solar cell production by 35% to 0.8GW. To cement its position as one of the largest integrated solar power manufacturers in India, Waaree Energies has made various strategic investments, raising ₹1,000 crore for an advanced lithium-ion cell and battery pack manufacturing facility while boosting its solar module capacity with a 2.1GW facility at Chikhli and 3 GW of inverter manufacturing capacity at Samakhiali, both in Gujarat.
Following its expanded manufacturing capacities, Waaree Energies has become the first solar manufacturer to achieve 1GW+ of module production in a month, while securing supplies of polysilicon through its $30 million investment in United Solar Holdings in Oman.
Over the quarter, the company won 5.3GW worth of orders for its solar modules from renowned customers, while another large order of 1.27GW of transformers worth ₹100 crore. As one of the leading manufacturers of BESS systems, the company has won another order worth 10 MWh as well.
Following its IPO in October 2024, Waaree Energies’ shares have declined 17% despite the company’s relatively strong financials. These announcements are expected to boost hopes for better days for its investors, even as the Return on Equity (ROE) remains strong at 36.8% for December 2025.
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