Shares of Waaree Renewable Technologies witnessed a sharp rally on Friday, with the stock jumping 13.5% to ₹1,202 following the company's strong quarterly performance. According to latest reports, the March-quarter results surpassed market expectations and boosted investor confidence significantly. The renewable energy company's robust quarterly earnings drove the positive market sentiment, with the stock gaining momentum as investors responded favorably to the robust financial results.
Waaree Renewable delivered robust performance in the fourth quarter of FY26, with net profit rising 66% year-on-year to ₹155.72 crore. As reported by ET Now, revenue more than doubled, jumping 131% to ₹1,102.40 crore during the quarter. Operational performance remained strong, with Ebitda increasing 63% to ₹206.82 crore, reflecting healthy execution capabilities. However, margins came under some pressure, with Ebitda margin declining by 776 basis points year-on-year, largely due to a sharp increase in costs related to EPC contracts.
The company's FY26 performance demonstrated exceptional growth momentum, with revenue surging 108% to over ₹3,331 crore and net profit growing 109% to ₹478.65 crore. According to ET Now, Ebitda for the year rose 106%, highlighting sustained business momentum across the fiscal year. Despite cost pressures, full-year Ebitda margins remained broadly stable at around 19%, indicating that the company was able to maintain operational efficiency even amid rising expenses throughout the year.
Waaree Renewable's growth is underpinned by a robust order book, with the company currently maintaining an unexecuted order book of 2.83 GWp, which is expected to be completed over the next 12-15 months. As reported by ET Now, the company's bidding pipeline has expanded significantly to over 36 GWp, providing strong revenue visibility for the coming years. Recently, the company secured new solar projects of 420 MWp, 35 MWp, and 14 MWp, further strengthening order inflows and supporting future growth prospects.
The company benefits from favorable sectoral conditions, with India's renewable energy sector continuing to expand rapidly. According to ET Now, as of March 2026, the country's total renewable energy capacity crossed 274 GW, with solar power accounting for more than 150 GW. During FY26 alone, around 44 GW of solar capacity was added, significantly higher than the previous year, creating a favorable environment for companies like Waaree Renewable to benefit from sectoral growth and capitalize on the expanding renewable energy market.
