Waaree Energies shares jump 12% after strong commentary on EBITDA guidance

Shares of Waaree Energies rallied as much as 12% on Thursday, January 22, after the company delivered a strong set of December quarter (Q3FY26) results.

Net profit jumped 26% quarter-on-quarter to ₹1,062 crore from ₹842 crore, while revenue rose 24.7% to ₹7,565 crore compared with ₹6,065 crore in the previous quarter.

EBITDA climbed 37.2% sequentially to ₹1,928 crore from ₹1,405 crore, with margins expanding to 25.5% from 23.2%.

The strong performance was driven by the company's highest-ever quarterly solar module production and the commissioning of new module manufacturing facilities.

Waaree also reported an exceptional item of ₹300 crore related to liabilities arising from an ongoing investigation in the US. Management pointed to strong execution and a healthy order pipeline supporting near-term growth.

Looking ahead, the company said it expects to exceed its FY26 EBITDA guidance of ₹5,500-6,000 crore.

During the quarter, Waaree commissioned an additional 2.1 GW solar module manufacturing facility at Chikhli and a 3 GW facility at Samakhiali in Gujarat. It also commissioned 3.05 GW of inverter manufacturing capacity at Sarodhi, Gujarat.

In line with its expansion plans, the company raised ₹1,000 crore to set up a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility, as part of its announced ₹10,000 crore capital expenditure programme.