WAAREEENER

Post Robust Numbers

FY26 EBITDA Guidance: Maintained at ₹5,500–6,000 Cr Operational Highlights: – Record quarterly module production: 2.3 GW – Cell production steadily ramping up – Robust order inflow of ~2.23 GW from Waaree Solar Americas – Total confirmed order book: 25 GW (₹49,000 Cr value) – Global project pipeline exceeds 100 GW – Commissioning on track for: – 1.6 GW in Texas, USA – 3.2 GW in Chikhli, Gujarat – Green hydrogen, inverter, and BESS facilities under development Capex & Expansion Plans: – ₹2,754 Cr capex approved for upcoming plants – Includes: – 4 GW Cell plant in Gujarat – 4 GW Ingot-Wafer plant in Maharashtra – To be financed through internal accruals and borrowings – Commissioning timeline: FY26–27 Outlook: – Strong growth visibility supported by global solar demand and large-scale manufacturing expansion