Waaree Energies shares slide 6% despite 15% profit growth and 79% YoY revenue surge in Q1FY27

Shares of Waaree Energies witnessed selling pressure on Thursday, declining 5.65% to Rs 2,581.70, even as the solar energy major reported a strong operational and financial performance for Q1FY27, driven by robust revenue growth, higher production volumes and a record order pipeline.

The company reported a consolidated net profit of Rs 891.87 crore for the quarter ended June 2026, registering a 15.39% year-on-year growth compared with Rs 773 crore in the corresponding quarter last year.

Revenue from operations surged 79.22% YoY to Rs 7,931.79 crore in Q1FY27 from Rs 4,426 crore in the year-ago period, reflecting strong demand momentum across domestic and international markets.

Waaree Energies also strengthened its future growth visibility by securing new orders worth around Rs 16,000 crore during the quarter, taking its total order book to an all-time high of approximately Rs 61,500 crore.

Strong Operational Performance

During Q1FY27, the company achieved solar module production of 3.24 GW, marking a 41.51% YoY increase, supported by improved operational efficiency and scale benefits.

Operating EBITDA stood at Rs 1,439.92 crore, rising 44.38% year-on-year, with EBITDA margins at 18.15%. Quarterly profit after tax reached Rs 891.87 crore, up 15.39% compared with the previous year.

Expansion Plans Gain Momentum

Waaree Energies highlighted key strategic initiatives aimed at strengthening its renewable energy ecosystem:

The company’s 10 GW solar cell manufacturing facility at Unn, Gujarat, is progressing as planned and is expected to commence production during the current financial year.Waaree acquired a 55% equity stake in Associated Power Structures Private Limited, enhancing its power infrastructure capabilities and supporting integrated renewable energy project execution.

The company commenced advanced automated BESS container manufacturing with a capacity of 5.15 GWh at Rola, Gujarat, marking a step towards expanding into energy storage solutions.

Management Outlook

Commenting on the performance, Jignesh Rathod, Whole Time Director and CEO of Waaree Energies, said the company’s Q1FY27 results reflect the strength of its integrated business model, disciplined execution and sustained demand across key markets. He highlighted that the company has achieved a record order book of approximately Rs 61,500 crore, reinforcing its ability to deliver profitable growth while expanding manufacturing capacity and strengthening its clean energy portfolio.

The management stated that a strong balance sheet, phased capital deployment and expected cash flow generation provide sufficient support for upcoming expansion plans. Waaree Energies reaffirmed its FY27 Operating EBITDA guidance of Rs 7,000-7,700 crore.

Stock Performance and Technical View

Despite reporting strong quarterly numbers, Waaree Energies shares traded 6% lower at Rs 2,581.70 on Thursday. The stock commands a market capitalisation of Rs 78,707 crore and continues to trade below its 52-week high of Rs 3,865.

On the technical front, the stock’s 14-day Relative Strength Index (RSI) stood at 38.8. While an RSI below 30 indicates oversold conditions and above 70 suggests overbought territory, the current reading points to moderate weakness. The stock is trading below all eight key simple moving averages (SMAs), indicating a bearish technical trend in the near term despite strong underlying business growth.

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