Waaree Energies LimitedWAAREEENERCorporate

Technology Solar Latest results: Jun 2026 13 quarters of data

₹2,565.40

MCap ₹73,794 Cr · P/E 18.4

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₹7,932 Cr

Sales · Jun 2026

+79.2% YoY

₹1,440 Cr

Operating Profit · Jun 2026

+44.4% YoY

18.2%

OPM % · Jun 2026

-19.1% YoY

₹892 Cr

Net Profit · Jun 2026

+15.4% YoY

₹29.56

EPS · Jun 2026

+14.0% YoY

📝 Waaree Energies Limited — results explained

Quarter ended June 2026 (Q1 FY27)

Waaree Energies Limited reported revenue of ₹7,932 crore for the quarter ended June 2026 (Q1 FY27), up 79.2% from ₹4,426 crore in the same quarter last year, and down 6.5% sequentially over the March 2026 quarter.

Net profit rose 15.4% year-on-year to ₹892 crore, from ₹773 crore. Earnings per share (EPS) came in at ₹29.56.

Operating profit stood at ₹1,440 crore — an operating margin (OPM) of 18.2%, compared with 22.5% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, Waaree Energies Limited posted revenue of ₹26,537 crore, a growth of 83.7% over FY25, with a net profit of ₹3,884 crore (up 101.4% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹30,042 crore with a net profit of ₹4,003 crore.

Valuation snapshot

At the current price of ₹2,565.40, WAAREEENER has a market capitalisation of ₹73,794 crore and a trailing P/E of about 18.4.

Within the Solar industry, it is the largest of the 5 companies we track by market value.

Shareholding pattern

As of Sep 2026, promoters held 64.12%, foreign institutional investors (FIIs) 8.57%, domestic institutional investors (DIIs) 4.09%, public shareholders 23.22% of Waaree Energies Limited.

Promoter holding slipped from 64.19% to 64.12% over the latest period.

📈 Share price & events

📊 Quarterly trend

₹ crore · OPM % on right axis

🎯 Key metrics

price-linked ratios use the latest close

Valuation

Market Cap ?

₹73,794 Cr

Current Price ?

₹2,565.4

P/E ?

18.43above ind

Industry P/E ?

16.20

P/B ?

5.11

P/S ?

2.46

P/FCF ?

-23.00

Enterprise Value ?

₹77,007 Cr

EV/EBITDA ?

12.12

PEG ?

0.18

Earnings Yield ?

6.8%

Dividend Yield ?

0.08%

Profitability & Returns

Sales (TTM) ?

₹30,042 Cr

OPM ?

21.1%

Profit after tax (TTM) ?

₹4,003 Cr

EPS (TTM) ?

₹139.16

ROCE ?

39.0%

ROE ?

27.7%

ROA ?

13.3%

Growth

Sales — latest qtr ?

₹7,932 Cr

PAT — latest qtr ?

₹892 Cr

YoY qtr sales growth ?

79.2%

YoY qtr profit growth ?

15.4%

Sales growth (3y) ?

58%

Sales growth (5y) ?

69%

Profit growth (3y) ?

100%

Profit growth (5y) ?

143%

Financial Health

Debt ?

₹3,213 Cr

Debt to Equity ?

0.22

Interest Coverage ?

17.6

Current Ratio ?

N/A

Ownership

Promoter holding ?

64.12%

Change in promoter holding ?

-0.19%

Pledged percentage ?

N/A

Market

Return 3 months ?

-9.7%

Return 6 months ?

-26.0%

🗓️ Quarterly results (13 quarters · ₹ Cr)

same fiscal quarter as Jun bestweakest per row · for costs (interest, NPAs) low is best Highlight

Metric	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	YoY %	QoQ %
Sales	3,328	3,537	1,596	2,936	3,409	3,574	3,457	4,004	4,426	6,066	7,565	8,480	7,932	+79.2%	-6.5%
Operating Profit	468	517	171	418	552	525	722	923	997	1,406	1,928	1,577	1,440	+44.4%	-8.7%
Other Income	87	21	105	364	88	89	88	137	171	161	-99	180	171	-0.1%	-5.1%
Interest	40	33	18	48	34	38	31	57	43	96	93	48	70	+63.7%	+46.6%
Depreciation	57	71	74	75	76	160	89	153	182	240	267	301	330	+81.3%	+9.6%
Profit Before Tax	457	435	184	659	531	1,029	690	845	943	1,231	1,469	1,408	1,210	+28.4%	-14.0%
Net Profit	338	320	141	475	401	376	507	644	773	878	1,107	1,126	892	+15.4%	-20.8%
EPS	17.05	15.98	6.32	23.41	19.99	13.73	17.15	21.59	25.94	29.33	36.94	36.89	29.56	+14.0%	-19.9%
OPM %	14.1%	14.6%	10.7%	14.2%	16.2%	14.7%	20.9%	23.0%	22.5%	23.2%	25.5%	18.6%	18.2%	-19.1%	-2.2%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric	FY25	FY26	TTM	YoY %
Sales	₹14,444 Cr	₹26,537 Cr	₹30,042 Cr	+83.7%
Operating Profit	₹2,722 Cr	₹5,908 Cr	₹6,351 Cr	+117.1%
OPM %	18.84%	22.27%	21.14%	+18.2%
NPM %	13.35%	14.64%	13.32%	+9.7%
Other Income	₹402 Cr	₹413 Cr	₹413 Cr	+2.7%
Depreciation	₹478 Cr	₹990 Cr	₹1,138 Cr	+106.9%
Interest	₹159 Cr	₹280 Cr	₹307 Cr	+75.6%
EBIT	₹2,243 Cr	₹4,919 Cr	₹5,214 Cr	+119.3%
PBT	₹3,096 Cr	₹5,051 Cr	₹5,319 Cr	+63.2%
Tax	₹201 Cr	₹353 Cr	₹672 Cr	+75.8%
Net Profit	₹1,928 Cr	₹3,884 Cr	₹4,003 Cr	+101.4%
EPS	₹72.46	₹129.10	₹132.72	+78.2%
Material Cost	₹2,781 Cr	₹4,132 Cr	₹9,501 Cr	+48.5%
Employee Cost	₹103 Cr	₹153 Cr	₹322 Cr	+48.2%
Extraordinary Items	₹-4 Cr	—	—	—

🏛️ Balance Sheet (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Equity Capital	243	263	287	288	+0.3%
Reserves	1,595	3,825	9,192	14,150	+53.9%
Borrowings	320	553	1,199	3,213	+168.0%
Other Liabilities	5,247	6,635	9,028	12,465	+38.1%
Total Liabilities	7,406	11,277	19,706	30,115	+52.8%
Fixed Assets	1,105	1,450	4,051	7,329	+80.9%
CWIP	537	1,341	1,884	3,476	+84.5%
Investments	31	71	65	953	+1366.2%
Other Assets	5,732	8,414	13,706	18,358	+33.9%
Total Assets	7,406	11,277	19,706	30,115	+52.8%

💧 Cash Flow (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Cash from Operating Activity	1,560	2,305	3,158	1,627	-48.5%
Cash from Investing Activity	-2,088	-3,346	-6,806	-3,953	+41.9%
Cash from Financing Activity	642	909	4,036	2,573	-36.2%
Net Cash Flow	114	-132	388	247	-36.3%
Free Cash Flow	698	968	-114	-3,209	-2714.9%
CFO/OP	199%	168%	143%	47%	-67.1%

➗ Ratios (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Debtor Days	17	31	30	34	+13.3%
Inventory Days	192	108	96	118	+22.9%
Days Payable	143	84	91	63	-30.8%
Cash Conversion Cycle	66	55	35	90	+157.1%
Working Capital Days	-66	-40	-87	-26	+70.1%
ROCE %	52%	44%	35%	39%	+11.4%

👥 Shareholding (latest 5 periods)

Metric	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Sep 2026	% Chg
Promoters	64.31%	64.22%	64.22%	64.19%	64.12%	-0.1%
FIIs	2.68%	6.35%	6.91%	7.06%	8.57%	+21.4%
DIIs	2.86%	2.82%	2.86%	4.32%	4.09%	-5.3%
Public	30.15%	26.60%	26.01%	24.44%	23.22%	-5.0%
No. of Shareholders	7,67,267	6,90,025	6,95,699	6,83,301	7,78,086	+13.9%

⚖️ Peer comparison

Industry: Solar · 5 companies · full page →

#	Company	CMP	MCap (Cr)	P/E	Sales TTM	NP TTM	OPM%	NPM%	Sales YoY%	NP YoY%	Qtr Rev Δ%	Qtr NP Δ%
1	WAAREEENER WAAREE ENERGIES	₹2,501.00	71,942	18.8	30,042	4,003	21.1%	13.3%	83.7%	101.4%	79.2%	15.4%
2	PREMIERENE PREMIER ENERGIES	₹974.20	43,980	26.2	8,466	1,674	30.0%	19.8%	20.0%	61.1%	35.3%	53.3%
3	EMMVEE EMMVEE PHOTOVOLTAIC	₹344.80	23,872	16.5	6,023	1,418	34.7%	23.5%	—	—	39.4%	60.6%
4	INA Insolation Energy	₹92.06	2,029	10.4	2,525	196	12.0%	7.8%	—	—	104.6%	-11.6%
5	KARAMTARA Karamtara Engineering	₹395.40	—	—	—	—	—	—	—	—	72.2%	45.6%

❓ Frequently asked questions

What was Waaree Energies Limited's revenue in Q1 FY27?

What was Waaree Energies Limited's net profit in Q1 FY27?