Waaree Energies Share Price Falls 5% Despite Total Revenue Crossing Rs 8,100 Crore; Here's Why

On Thursday, Indian equity benchmark indices traded marginally lower, with the benchmark Nifty 50 index declining 20.60 points, or 0.08 per cent, to 24,229.60. Despite the weak market sentiment, Waaree Energies share price declined 5.32 per cent to Rs 2,590.50 after the company announced its Q1 FY27 financial results.

Waaree Energies Q1 FY27 Results

Waaree Energies reported total income of Rs 8,102.60 crore, registering a 76.24 per cent YoY growth, for the quarter ended June 30, 2026, compared with Rs 4,597.18 crore in the corresponding quarter last year. Revenue from operations increased 79.2 per cent YoY to Rs 7,931.79 crore from Rs 4,425.83 crore in the corresponding quarter last year, while other income stood at Rs 170.81 crore compared with Rs 171.35 crore in Q1 FY26.

The company reported profit before tax (PBT) of Rs 1,210.38 crore, reflecting a 28.30 per cent YoY growth, compared with Rs 943.36 crore in the year-ago period. Net profit attributable to owners of the parent stood at Rs 850.22 crore, while net profit for the period increased 15.39 per cent YoY to Rs 891.87 crore from Rs 772.89 crore in the corresponding quarter last year. Earnings per share (EPS) rose 13.96 per cent YoY to Rs 29.56 from Rs 25.94 in Q1 FY26.

Operational Performance

During the quarter, cost of materials consumed stood at Rs 4,843.93 crore, while employee benefit expenses were Rs 416.20 crore. Finance costs came in at Rs 70.37 crore, and depreciation and amortisation expenses were Rs 329.98 crore.

The company reported total expenses of Rs 6,892.22 crore during the quarter. Current tax expense stood at Rs 297.81 crore, while deferred tax expense was Rs 20.70 crore.
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Key Developments

During the quarter, the company received a notice from the U.S. Customs and Border Protection (CBP) regarding its ongoing investigation under the Enforce and Protect Act (EAPA). The company stated that CBP affirmed its position that it had not used Chinese cells in exports to the United States during the investigation period. However, certain entries require further review under anti-dumping and countervailing duty orders, and the company is evaluating the legal remedies available. Pending the final outcome, no further adjustments have been made to the financial results.

The company also stated that it infused Rs 150 crore into its wholly owned subsidiary, Waaree Energy Storage Solutions Pvt. Ltd., through a rights issue on July 8, 2026.

About Waaree Energies

Waaree Energies Ltd is India's largest solar PV module manufacturer and is engaged in the manufacturing of solar photovoltaic modules, solar cells and clean energy solutions. The company also has a presence in energy storage, renewable power projects and related engineering services through its subsidiaries, serving both domestic and international markets.

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Disclaimer: The article is for informational purposes only and not investment advice.