Waaree Energies Posts Record ₹7,565 Crore Revenue in Q3 FY26, Raises ₹1,003 Crore for Battery Facility

Waaree Energies Limited recorded revenue from operations of ₹7,565.05 crore in the third quarter of FY26 (Q3 FY26), reflecting a 118.81% increase from ₹3,457.29 crore in Q3 FY25. For the nine months ended December 2025 (9M FY26), revenue stood at ₹18,056.52 crore, up 72.95% from ₹10,440.57 crore in 9M FY25.

EBITDA for Q3 FY26 reached ₹1,928.15 crore, a 167.16% rise from ₹721.73 crore in the same quarter last year, with the EBITDA margin expanding to 25.49% from 20.88%. In 9M FY26, EBITDA was ₹4,331.88 crore, up 140.79% from ₹1,799.06 crore in the prior period, with margins at 23.99% compared to 17.23%.

Profit after tax (PAT) in Q3 FY26 was ₹1,106.79 crore (after exceptional items), marking a 118.35% growth from ₹506.88 crore in Q3 FY25. PAT margin stood at 14.26%, nearly flat from 14.30% a year earlier. For 9M FY26, PAT totaled ₹2,757.89 crore, an increase of 114.84% from ₹1,283.67 crore in 9M FY25, with margins at 14.84% versus 11.99%.

The company reported a record order book valued at approximately ₹60,000 crore.

In production, Waaree Energies achieved 3.51 GW of solar module output and 0.75 GW of cell production in Q3 FY26. The company stated it became the first Indian manufacturer to achieve over 1 GW in module production and sales in a single month, with a rate of 52 modules produced per minute.

Capacity expansions included commissioni...