The company’s total income rose 69.96% year-on-year to ₹6,226.54 crore compared to ₹3,663.47 crore in Q2 FY25. EBITDA surged 155.29% YoY to ₹1,567.30 crore, with margins improving to 25.17% from 16.76%.
Also Read: Waaree Energies invests ₹300 crore in arm Waaree Energy Storage for lithium-ion cell plant
Production during Q2 FY26 reached 2.64 GW, supported by robust operations. For the first half of FY26, total income stood at ₹10,823.72 crore, up 51.17% year-on-year, while EBITDA rose 118.19% to ₹2,735.97 crore.The company reported an order book of around 24 GW valued at approximately ₹47,000 crore. The board of directors approved an interim dividend of ₹2 per share on October 16, 2025. During the quarter, Waaree commissioned an additional 3 GW solar module manufacturing facility at Chikhli, Gujarat.
The board also approved an additional capex of ₹8,175 crore on October 1, 2025, to expand manufacturing capacity, including increasing storage cell and BESS capacity from 3.5 GWh to 20 GWh with ₹8,000 crore investment, electrolyser manufacturing from 0.3 GW to 1 GW with ₹125 crore, and inverter manufacturing from 3 GW to 4 GW with ₹50 crore.
Also Read: Waaree Energies clears ₹8,175 cr capex plan to scale lithium-ion, electrolyser and inverter capacities
On the acquisition front, Waaree completed the purchase of a 64% stake in Kotsons Private Limited on October 7, 2025, to expand its transformer business. It also acquired assets of Meyer Burger in the US for $18.5 million and is in the process of acquiring a 76% stake in Racemosa Energy (India) Private Ltd to strengthen its advanced metering portfolio.
Shares of Waaree Energies Ltd ended at ₹3,624.70, up by ₹105.30, or 2.99%, on the BSE.
