Waaree Energies reported a 14.7% year-on-year decline in net profit to ₹719 crore for Q2FY27, compared with ₹843 crore in the corresponding quarter last year. Despite the profit decline, the solar photovoltaic module manufacturer demonstrated strong revenue growth with revenue from operations rising 23.98% year-on-year to ₹7,520 crore from ₹6,065 crore in Q2FY26. According to reports from The Economic Times, the company's operating performance remained under pressure with EBITDA declining 5% year-on-year to ₹1,336 crore from ₹1,406 crore, while the EBITDA margin contracted to 18% from 23% a year earlier. The strong revenue realization of ₹7,520 crore represents an expansion of ₹1,455 crore year-on-year, driven by robust demand across solar utility and commercial installations.
The company has approved the acquisition of 100% stake in Waaree Green Data Centers Pvt Ltd and its two wholly owned subsidiaries - Aurovault Data Centers Pvt Ltd and Sunstar Data Centers Pvt Ltd - from its subsidiary Waaree Renewable Technologies Limited for a cash consideration of ₹1 lakh. As reported by NDTV Profit, this strategic move positions Waaree Energies to explore hyperscale, AI-ready and edge data centre infrastructure in India and overseas. The transaction, which was approved by the board at its October 27 meeting, is conducted on an arm's-length basis and in the ordinary course of business, with completion expected during FY27 and no governmental or regulatory approvals required. The acquired entities are yet to commence operations, meaning the deal does not immediately add an operating data centre business to the portfolio.
Waaree Energies shares ended Tuesday's session 1.90% lower at ₹2,275 apiece, compared with the previous close of ₹2,319, ahead of the earnings announcement. According to The Economic Times, the stock has declined around 23% so far in 2026. During Tuesday's session, the shares traded between ₹2,259 and ₹2,353.40, with a 52-week range of ₹2,259 to ₹3,643. At Tuesday's closing price, the company had a market capitalisation of around ₹65,441 crore. The board's approval of entry into green data centers to diversify beyond traditional solar equipment manufacturing reflects the company's strategic focus on expanding its business portfolio, though the acquired entities are not yet operational.
