In Week of Mar 28, 2026, Waaree Energies Ltd (Capital Goods - Solar) is outperforming Nifty 500 with +13.1% relative strength. Fundamentals: Strong.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 earnings • Updated Mar 21, 2026
What: Vertical integration from polysilicon to modules driving margin expansion
“VADI 1.0 represents module and cells but we are now investing in full solar value chain from polysilicon ingots and wafers, cells and modules.”
What: 20,000 MVA capacity expansion with ₹245 cr order book secured
Impact: +₹245 Cr revenue
“Wadi is expanding its capacity to 20,000 MVA with a planned capex of 192 crores. We have already secured an order book of 245 crores including large order from a global multinational major.”
What: New energy storage business segment with ₹1,000 cr equity raised
“During the quarter we raised around 1000 crores of equity for 20 GWh advanced lithium ion battery and pack manufacturing facility.”
Earnings deceleration risks from management commentary
Trigger: Silver prices rising >15%
Management view: people who are taking more cell and as well as modules at this point in time they are sold out for the next one and a half years now
Monitor: Silver price trends
Trigger: Project delays >3 months
Management view: Execution of all projects across modules, cells, ingots and wafers, inverters, battery energy storage systems and green hydrogen electrolyzers are progressing as planned
Monitor: Project commissioning timelines
Key quotes from recent conference calls
“Execution of all projects across modules, cells, ingots and wafers, inverters, battery energy storage systems and green hydrogen electrolyzers are progressing as planned. — Management”
“Profit after tax came in at about 1,107 crores versus 507 last year... margin of course has expanded to almost 24% versus 17% last year in the same period. — Management”
“This is supported by a solid order book of 60,000 crores healthy order pipeline exceeding 100 gigawatts. This order pipeline gives us visibility for upcoming quarters ahead. — Management”
“Ladies and gentlemen, we see a clear visibility of surpassing our ebitda guidance of 5,500 to 6,000 crores for FY2026. — Management”
Forward-looking targets from management for FY26
Key Milestones
• Surpassing EBITDA guidance of 5,500-6,000 crores for FY26
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +119% | +72% | Stable |
| PAT (Net Profit) | +118% | +80% | Stable |
| OPM | 25.0% | +400 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Mar 21, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Waaree Energies Ltd's latest quarterly results (Dec 2025) show
Waaree Energies Ltd's profit is growing with an stable trend.
Waaree Energies Ltd's revenue growth trend is stable.
Waaree Energies Ltd's operating margin is volatile.
Waaree Energies Ltd's long-term compounding rates
Waaree Energies Ltd's earnings growth is stable with positive momentum on a sequential basis.
Waaree Energies Ltd's trailing twelve month (TTM) performance
Waaree Energies Ltd appears significantly undervalued based on our fair value analysis.
Waaree Energies Ltd's current PE ratio is 25.6x.
Waaree Energies Ltd's current PE is 25.6x.
Waaree Energies Ltd's price-to-book ratio is 7.8x.
Waaree Energies Ltd is rated Strong with a fundamental score of 72/100. This score is calculated from objective financial metrics
Waaree Energies Ltd has a debt-to-equity ratio of N/A.
Waaree Energies Ltd's return ratios over recent years
Waaree Energies Ltd's operating cash flow is positive (FY2025).
Waaree Energies Ltd's current dividend yield is 0.06%.
Waaree Energies Ltd's shareholding pattern (Dec 2025)
Waaree Energies Ltd's promoter holding has remained stable recently.
Waaree Energies Ltd has been outperforming Nifty 500 for 2 consecutive weeks, indicating early-stage outperformance.
Waaree Energies Ltd is an established outperformer with 2 weeks of consecutive Nifty 500 outperformance.
Waaree Energies Ltd has 3 key growth catalysts identified from recent earnings analysis
Waaree Energies Ltd has 2 key risks worth monitoring
In Q3 FY26, Waaree Energies Ltd's management highlighted
Waaree Energies Ltd's management has provided the following forward guidance for FY26
Based on quantitative research signals, here is why Waaree Energies Ltd may be worth studying
Waaree Energies Ltd investment thesis summary:
Waaree Energies Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
