Waaree Energies has delivered a strong start to FY27, reporting a sharp 79.22% year-on-year jump in revenue for the first quarter, backed by robust execution, rising demand and expansion across its clean energy businesses.

 

The company reported revenue from operations of Rs. 7,931.79 crore in Q1 FY27, compared with Rs. 4,425.83 crore in Q1 FY26. During the quarter, Waaree secured fresh orders worth approximately Rs. 16,000 crore, taking its total order book to a record Rs. 61,500 crore.

 

The company’s operating EBITDA stood at Rs. 1,439.92 crore, registering a growth of 44.38% year-on-year, while profit after tax (PAT) increased 15.39% YoY to Rs. 891.87 crore.

 

Waaree produced 3.24 GW of solar modules during Q1 FY27, marking a 41.51% year-on-year growth, supported by operational efficiencies, increased scale and a strengthened manufacturing ecosystem.

 

The company said its 10 GW solar cell manufacturing facility at Unn, Gujarat, is progressing as planned and is expected to commence production within the current financial year.

 

Waaree has also expanded its capabilities in the energy storage and power infrastructure segments. 

 

The company has commenced advanced automated 5.15 GWh BESS container manufacturing in Rola, Gujarat, while its acquisition of a 55% equity stake in Associated Power Structures Private Limited is expected to strengthen its power infrastructure capabilities and integrated renewable energy execution.

 

Commenting on the results, Jignesh Rathod, Whole Time Director & CEO, Waaree Energies Ltd said: "Waaree Energies delivered another quarter of strong operational and financial performance in Q1 FY27, reflecting the resilience of our integrated business model, disciplined execution and sustained demand across domestic and international markets. As on date we have achieved a record order book of approximately Rs.61,500 crore.

 

"The performance underscores Waaree's ability to consistently deliver profitable growth while strengthening our manufacturing ecosystem, expanding our global footprint and building multiple high-growth clean energy businesses.

 

"The quarter also marks the continued evolution of 'Waaree 2.0'—the Company's transformation from a leading solar module manufacturer into a diversified energy transition enterprise with multiple growth engines across the renewable energy value chain. We are now witnessing the early outcomes of this strategy. 

 

"While our core solar manufacturing business continues to perform strongly, our newer businesses are beginning to contribute meaningfully to revenue, creating multiple growth levers for the future. Through continued investments across advanced manufacturing, energy storage, power infrastructure and global markets, we are building a diversified clean energy platform designed for long-term, sustainable value creation."

 

Waaree said its growth strategy continues to focus on building an integrated clean energy platform spanning solar manufacturing, energy storage, power infrastructure and global renewable energy markets.

 

With operations across India and more than 25 countries globally, the company currently has installed manufacturing capacity of 25.8 GW for solar PV modules and 5.4 GW for solar cells.