Waaree Energies Reports 118.81 Percent YoY Jump in Q3 FY26 Revenue to INR 7,565 Crore
Waaree Energies has posted a strong Q3 FY26 performance, reporting a 118.81 percent year-on-year jump in revenue to INR 7,565 crore and a more than two-fold rise in profit, driven by rapid capacity expansion and robust order inflows.
January 22, 2026. By Mrinmoy Dey
In Q3 FY26, the company achieved 3.51 GW of module production and 0.75 GW of cell production. Waaree commissioned an additional solar module manufacturing facility of 2.1 GW at Chikhli, Gujarat and 3 GW at Samakhiali, Gujarat. Additionally, the company commissioned 3.05 GW of inverter capacity at Sarodhi, Gujarat.
The company also raised about INR 1,003 crore towards establishing a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility, as part of the announced Capex plan of about INR 10,000 crore.
Commenting on the results, Amit Paithankar, Whole Time Director and CEO, Waaree Energies, said, “Over the nine months, we have achieved significant growth in both topline and EBITDA, reflecting the resilience of our business model and the trust our customers place in us. I am pleased to share that Waaree is the first Indian manufacturer to achieve 1 GW+ of module production and sales in a single month with 52 modules produced per minute.”
He disclosed that the company has secured a record order inflow, strengthening its order book of 60,000 crore, ensuring sustained visibility for the years ahead. “Also, we have secured bankable PPAs backed by land and connectivity. We are accelerating our transformation into an integrated clean energy solutions provider by strengthening adjacencies across BESS, inverter, transformer, Renewable Power Infrastructure and green hydrogen electrolyser, creating a resilient and future-ready portfolio,” he said.
Paithankar further added, “Additionally, our recent acquisition strengthens our supply chain by ensuring secure and fully traceable access to polysilicon, supporting Waaree's rapidly expanding manufacturing footprint in the US and global markets.”
Waaree is on track to achieve its EBITDA target of INR 5,500-6,000 crores while creating long-term value for stakeholders and contributing meaningfully to India's clean energy transition, asserted Paithankar.
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