Waaree Energies share price rises 8% post Q4 results; strong EBITDA growth guidance for FY26 lifts investor sentiments

Stock Market Today: Waaree Energies share price gained 8% in the morning trade on Wednesday, April 23, post the announcement of its Q4 results for the financial year ended March 31, 2025 (FY25).

On why Waaree Energies share price is rising, Seema Srivastava, Senior Research Analyst at SMC Global Securities, said, “Waaree’s FY25 performance marks a significant inflection point in its growth journey, driven by exceptional operational execution, strategic expansion, and strong financial performance. The company reported a 37.7% year-on-year increase in Q4 revenue to Rs.4,140.92 crore, while profit after tax (PAT) surged by a remarkable 254.5% to Rs.648.49 crore, highlighting sharp improvements in efficiency and profitability. On an annual basis, revenue rose 27.6% to Rs.14,846.06 crore, and PAT more than doubled to Rs.1,932.15 crore, supported by a production increase from 4.77 GW in FY24 to 7.13 GW in FY25—demonstrating robust demand and operational scale.”

“Building on this momentum, Waaree has announced major capacity expansions, including a 1.6 GW manufacturing facility in Texas and a 3.2 GW module line in Chikhli, reinforcing its global footprint and “local-for-local” strategy. The recent upgrade to a CARE A+ credit rating further underscores the company’s strengthened financial position. Waaree’s integrated approach across the solar value chain—including modules, cells, ingots, wafers, battery storage, and inverters—positions it for long-term resilience and leadership in the renewable energy sector. With a strong order book, proven execution capabilities, and an ambitious EBITDA guidance of ₹5,500 to ₹6,000 crore for FY26, Waaree Energies looks promising," Seema added.

Waaree Energies Q4: Sharp improvement in operating performance

The reported net profit for Waaree Energies stood at ₹649 crore for the quarter ended March 2025, a sharp growth of 35% compared to ₹475.15 crore reported by the company in the year-ago quarter.

The company's operating revenue increased by 36.4% to ₹4,003.9 crore from ₹2,935.8 crore during the same period of the previous fiscal year.

The earnings before interest, tax, depreciation and amortisation or EBITDA as per the company came in at ₹1,059.57 crore, which translates into more than 116% rise over ₹489.94 crore reported by the company in the year-ago quarter. The EBITDA margin stood at 25.59%, a sharp rise over ₹16.29% reported in the year-ago quarter.

Strong Ebitda growth guidance

The company's fourth-quarter module production increased to 2.06 GW from 1.35 GW during the same period last fiscal year. Production for the entire year was 7.13 GW, up from 4.77 GW in FY24. The total order book stands at 25 GW, which is valued around 47,000 crore.

Amit Paithankar, Whole Time Director & CEO, Waaree Energies, said that the EBITDA performance of ₹3,123.20 crore underscores the strength of our execution capabilities and the quality of order book, with centered focus on margins. Paithankar pegged the EBITDA outlook for FY26 at ₹5,500-6,000 crore. The quality of our order book and execution capabilities will enable us to achieve these numbers, he added.

Waaree Energies has guided for a strong EBITDA growth during FY26. Its EBITDA stood at ₹3,123 crore during FY25.

Waaree Energies share price movement

Waaree Energies share price opened at ₹2,835 on the BSE on Wednesday. At the time of opening, the share price of Waaree Energies was up 8.5% over the previous day's closing price of ₹2,611.85. Waaree Energies share price thereafter gained further to intraday high of ₹2,841, which meant gains of close to 9%.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.