Waaree Energies Share Price Surges 10% Following Impressive Quarterly Performance
Shares of Waaree Energies witnessed a significant upswing of 10% during Thursday's trading session on January 22, propelled by the company's outstanding third-quarter financial results and overall strength in the Indian equity markets. The renewable energy powerhouse delivered remarkable growth across key financial metrics, demonstrating robust operational execution and strategic expansion.
Record-Breaking Financial Performance in Q3 FY26
The company reported a staggering 118.35% year-over-year increase in net profit for the December quarter, reaching ₹1,106.79 crore compared to ₹506.88 crore in the corresponding period last year. Revenue from operations experienced an equally impressive surge of 118.81%, climbing to ₹7,565.05 crore from ₹3,457.29 crore year-over-year.
In its exchange filing, Waaree Energies disclosed that EBITDA for the quarter stood at ₹1,928.15 crore, reflecting a 167.16% YoY growth with healthy margins of 25.49%. This exceptional financial performance underscores the company's operational efficiency and market leadership in India's rapidly growing renewable energy sector.
Manufacturing Capacity Expansion and Production Milestones
The company achieved significant production milestones during the quarter, with 3.51 GW of module production and 0.75 GW of cell production in Q3 FY26, both attributed to strong operational focus and execution capabilities. Waaree Energies has successfully commissioned multiple manufacturing facilities, including:
- A new 2.1 GW solar module manufacturing facility in Chikhli, Gujarat
- Another 3 GW facility in Samakhiali, Gujarat
- 3.05 GW of inverter capacity at Sarodhi, Gujarat
The company has also raised approximately ₹1,003 crore to establish a 20 GWh advanced lithium-ion cell and battery pack manufacturing plant, as part of its announced capital expenditure plan of around ₹10,000 crore.
Strategic Global Investments and Supply Chain Strengthening
Waaree Group has made a strategic investment of USD 30 million in United Solar Holding Inc., a prominent polysilicon producer based in Oman. This investment ensures a fully traceable supply chain and strengthens the company's growing manufacturing presence in the U.S. and global markets.
"Waaree Energies has delivered another exceptional quarter, with Q3 FY26 marking record revenue and profitability," said Amit Paithankar, Whole Time Director & CEO of the company. "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."
Paithankar highlighted that Waaree has become the first Indian manufacturer to achieve 1 GW+ of module production and sales in a single month, with 52 modules produced per minute. The company has secured a record order inflow, strengthening its order book to approximately ₹60,000 crore, ensuring sustained visibility for years ahead.
Technical Analysis and Market Sentiment
Waaree Energies share price opened at an intraday low of ₹2,550.05 on the BSE and touched an intraday high of ₹2,740.75 during Thursday's trading session.
According to Anshul Jain, Head of Research at Lakshmishree, the stock has formed a classic kicker pattern on the daily chart, marked by a sharp gap-up above the prior support-turned-resistance zone near ₹2,530. "This sudden price shift reflects an abrupt change in market sentiment and a strong demand takeover," Jain explained.
The move is backed by a volume surge of nearly 300% above the 50-day average, clearly signaling institutional participation rather than short covering. Jain noted that the stock is now trending toward its 50-day moving average near ₹2,895, which acts as the next immediate magnet and resistance zone.
Analyst Perspectives and Future Outlook
Emkay Global commented that Waaree Energies' investment provides it with anchor customer status, enabling upstream backward integration to support its 10GW Nagpur wafer–ingot needs. "Waaree has stated this is a strategic investment for supporting the rapidly expanding US and global footprint," the brokerage noted.
The firm added that the plant may be near commissioning and ramp-up to full capacity may happen within one year. "We await more details from the management, but view this positively. Waaree also commissioned 5.1GW of module capacity in Gujarat in Q3FY26. We retain our estimates and reiterate BUY with TP of ₹4,260," Emkay Global stated.
The company's strong quarterly performance, coupled with its strategic expansions and investments, positions Waaree Energies favorably in India's renewable energy landscape, with analysts maintaining positive outlooks on the stock's future trajectory.
