Why Waaree Energies Share Price is Rising

Indian equity benchmark indices Sensex and Nifty 50 opened higher on Thursday, tracking a strong rally in global markets as investor sentiment improved.

The Sensex jumped 550.03 points, or 0.67%, to open at 82,459.66, while the Nifty 50 rose 186.65 points, or 0.74%, to 25,344.15.

The positive momentum in domestic equities mirrored gains in global markets amid signs of easing geopolitical tensions after US President Donald Trump said a "framework of a future deal" over Greenland had been agreed and also softened his stance on imposing tariffs on European countries.

Amid a strong market opening, Waaree Energies emerged as one of the top gainers, with the stock rallying over 10% intraday to hit a high of Rs 2,740.

Here are two key reasons behind the stock's rally.

#1 Robust Q3 Results

The shares of Waaree Energies rallied over 10% in intraday trade on the back of robust Q3 results.

For the December 2025 quarter, Waaree Energies reported a 118.8% YoY jump in revenue from operations to Rs 75.6 billion (bn). This was against Rs 34.6 bn a year back.

This marked the company's highest-ever quarterly revenue from operations.

Operating EBITDA stood at Rs 19.3 bn, up 167.2% YoY, with margins at 25.5%

The net profit for the quarter came in at Rs 11.1 bn, up 118.4% YoY. This was against Rs 5.1 bn reported a year back.

Further, the company recorded its highest-ever quarterly module production of 3.5 GW, while total module capacity stood at 23 GW and cell capacity at 5.4 GW.

#2 Strong Order book

As of the December 2025 quarter, Waaree Energies' order book stood at a healthy Rs 600 bn, providing strong revenue visibility for the coming quarters.

During the period, the company secured several key new wins, including 5.3 GW of module orders from reputed customers. It also received a Rs 100 crore transformer supply order linked to 1.27 GW of capacity, along with a 10 MWh BESS order from a leading infrastructure company.

These wins highlight diversified demand across solar modules, power equipment, and energy storage solutions.

What Next?

Going forward, Waaree Energies plans to commission a 4 GW plant with a capex outlay of around Rs 1.8 bn, of which Phase I, comprising 3 GW, has already been commissioned. Phase II of 1 GW is targeted by FY27, alongside leveraging its strong retail reach to offer integrated "one-stop shop" solutions.

In the BESS segment, positioned as a core enabler of grid stability and renewable integration, the company aims to set up 20 GWh of capacity by FY28, with Phase I of 3.5 GWh by FY27, and Phase II of 16.5 GWh by FY28.

Under its electrolyser business, aligned with the global and domestic green hydrogen opportunity, Waaree is targeting 1 GW of capacity by FY27 with a planned capex of around Rs 6.76 bn.

Further, in solar manufacturing, the company plans to scale module capacity to 28.4 GW by FY27, cell capacity to 15 GW by FY27, and ingot and wafer capacity to 10 GW by FY27.

How shares of Waaree Energies have performed recently

Over the past month, Waaree Energies' share price dropped over 13%.

The stock touched its 52-week high of Rs 3,864 on 12 September 2025 and its 52-week low of Rs 1,808 on 7 April 2025.

About Waaree Energies

Waaree Energies is India's largest manufacturer and exporter of solar photovoltaic (PV) modules.

The company operates state-of-the-art manufacturing facilities and has a presence in over 380 locations. It exports to more than 25 countries.

Solar panel manufacture, engineering, procurement, and construction (EPC) services, project development, rooftop solar systems, solar water pumps, and independent power production are the renewable energy solutions the company provides.

Investors should evaluate the company's fundamentals, corporate governance, and valuations of the stock as key factors when conducting due diligence before making investment decisions.

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Happy investing.

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