How Is Waaree Renewable Powering India’s Clean Energy Growth With Record Q2 FY26 Results?
About Waaree Renewable Technologies
Waaree Renewable Technologies Ltd., one of India’s leading solar EPC and renewable energy firms, has announced impressive Q2 FY26 and H1 FY26 financial results. The company’s continued focus on execution and diversification has made it a key player in India’s solar transition journey.
For Q2 FY26, the company reported a revenue of ₹774.78 crore, up 47.73% year-on-year, and a PAT of ₹116.34 crore, up 117.40% YoY. Its half-yearly performance further strengthens the growth story, with H1 FY26 revenue at ₹1,377.97 crore and PAT at ₹202.73 crore, marking 81.12% and 148.21% YoY growth respectively.
Strong Operational and Financial Momentum
The company’s Q2 EBITDA stood at ₹157.94 crore, up 120.69% YoY, while H1 EBITDA was ₹275.48 crore, growing 144.56% YoY. Such exceptional operating leverage reflects efficient project delivery, cost optimization, and capacity utilization across major solar EPC projects.
Waaree’s unexecuted order book now stands at a robust 3.48 GWp, backed by a strong bidding pipeline exceeding 27 GWp. This expansion is underpinned by a diversified project portfolio across states like Maharashtra, Rajasthan, and Gujarat.
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Project Wins and Capex Expansion
Waaree recently secured major ground-mounted solar projects — a 1,218 MWp and a 29.4 MWp installation — reinforcing its leadership in the utility-scale solar EPC domain. Additionally, new IPP solar plant approvals include a 28 MWp facility in Maharashtra and a 37.5 MWp plant in Bikaner, Rajasthan.
CFO Mr. Manmohan Sharma highlighted that the company is exploring new opportunities in battery energy storage systems (BESS) and renewable-powered data centers, aligning with India’s national renewable push.
Sectoral Outlook
With India targeting 500 GW of renewable capacity by 2030, companies like Waaree are positioned at the forefront of this growth story. A growing order book, high-margin projects, and integrated operations make Waaree a strong proxy for the green energy revolution.
Investors should watch for upcoming capacity expansions and any developments on the company’s diversification into storage and hybrid models, which could further boost profitability and long-term visibility.
Investor Takeaway
Indian-Share-Tips.com Renewable Sector Analyst Gulshan Khera, CFP®, observes that Waaree’s consistent double-digit growth reflects India’s accelerating renewable investment momentum. He adds that solar EPC leaders may continue to outperform as policy and demand alignment remain strong across industrial and institutional clients.
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SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions. The views expressed are general in nature and may not suit individual investment objectives or financial situations.
Waaree Renewable Technologies, Solar EPC, Renewable Energy, Q2 FY26 Results, Clean Energy, India Solar Growth, Nifty Intraday Tip, Bank Nifty Intraday Tip, Indian-Share-Tips.com, Gulshan Khera, SEBI Registered Investment Adviser
