| Revenue from operations jumped 69.69% YoY to Rs 6,065.64 crore in the quarter ended 30 September 2025.
Profit before tax climbed 146.86% year-on-year to Rs 1,231.46 crore in Q2 FY26, compared to Rs 498.84 crore posted in Q2 FY25.
EBITDA stood at Rs 1,567.30 crore, registering the growth of 155.29% compared with Rs 613.94 crore in Q2 FY25. The EBITDA margin improved significantly to 25.17% in Q2 FY26, up from 16.76% in the corresponding quarter last year.
The company achieved a production output of 2.64 GW during the quarter, driven by strong operational focus.
Amit Paithankar, whole time director & CEO, Waaree Energies, said, “Waaree Energies continues to deliver robust operational performance in Q2 FY26, building on the momentum of the previous quarter. This quarter is a best ever quarter in terms of revenue and profitability. Our EBITDA margin expanded by over 800bps backed by favourable revenue mix. Our order book stands strong, and we expect the operational momentum to be stronger in the second half as well.
The company continue to expand its operations capacity both In India and US. The Indian module capacity has expanded by 3 GW during Q2 to reach 16.1 GW and US capacity now stands at 2.6 GW with acquisition of Meyer Berger assets outlining our strong commitment towards US market. The demand outlook for US market remains robust and our rampup is progressing as per schedule. We continue to take strong strides towards building an integrated energy solution platform, the recent additional commitment of Rs 8,175 crore towards BESS, Inverter and Green Hydrogen Electrolysers along with recent strategic acquisitions in transformer and smart meter, are steps towards that direction.
I am pleased to inform that the board has approved a dividend of Rs 2 per share marking an affirmation of our exemplary financial performance and robust cashflow generation. Moving forward, Waaree reaffirms its FY26 EBITDA guidance of Rs 5,500 to Rs 6,000 crores. This outlook is supported by strong orderbook, focused margin management, prudent capital investments and strategic acquisitions.
Meanwhile, the company’s board has declared an interim dividend of Rs 2 per equity share for the financial year ending 31 March 2026. The record date for the purpose of determining the entitlement of the shareholders for the interim dividend has been fixed as Friday, 24 October 2025, and dividend will be paid to the shareholders on Thursday, 06 November 2025.
Mumbai-based Waaree Energies is a renewable energy company. It offers innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems.
The scrip slipped 1.10% to Rs 3,584.90 on the BSE.
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