₹60,000 crore order book, global expansion — Waaree’s Q3 is rewriting India’s renewable story.

📊 Waaree Energies Q3 FY26 Highlights - Revenue: ₹7,565 crore, up 119% YoY - Net Profit: ₹1,107 crore, up 118% YoY - EBITDA: ₹1,928 crore, up 167% YoY - Margins: 25.49% vs 20.9% last year - Order Book: ~₹60,000 crore, driven by strong inflows - Capacity Expansion: Trial production at 5.4 GW solar cell facility; US module line (1.6 GW) commenced commercial production 📈 Stock Market Impact - Current price: ₹868.15 (down 2.05%) - Despite record earnings, the stock saw mild profit booking. - Investors remain cautious about valuation after a strong run-up in renewable stocks. ⚠️ Investor Watchouts - Execution Risk: Scaling new facilities (India + USA) requires flawless execution. - Global Competition: Chinese module makers remain aggressive on pricing. - Policy Dependence: Renewable incentives and government schemes drive demand; any policy shift could impact growth. - Valuation Stretch: Rapid earnings growth may already be priced in, limiting upside. 🚀 Strategic Outlook - Domestic Growth: India’s solar push (targeting 500 GW by 2030) positions Waaree as a key beneficiary. - International Expansion: US manufacturing footprint diversifies revenue streams. - Technology Edge: Focus on high-efficiency modules and backward integration into solar cells. - Long-Term View: Strong order book + capacity expansion = sustained growth, but investors must monitor execution and global pricing pressures.