Waaree Renewable Surges 12% as Q4 Profit Jumps 66%

Shares of Waaree Renewable Technologies Limited surged up to 12.28% on 17 April, hitting an intraday high of Rs 1,202.00 on the NSE, after the company reported a strong set of Q4FY26 earnings that saw both revenue and profit post sharp year-on-year gains.

Revenue more than doubled to Rs 1,102.4 crore in the quarter, against Rs 476.6 crore in Q4FY25, marking growth of over 131% year-on-year. Net profit climbed 66.1% to Rs 155.7 crore from Rs 93.8 crore in the year-ago quarter, reflecting the scale-up in project execution across its solar EPC portfolio.

EBITDA rose 63.7% to Rs 206.8 crore, though margins narrowed to 18.8% from 26.5% in Q4FY25. The compression came as EPC contract costs jumped sharply to Rs 871 crore from Rs 335 crore, a direct result of a much larger project workload being executed during the quarter. Higher execution volumes drove costs up sharply but also underpinned the revenue surge.

The order book at quarter-end stood at 2.83 gigawatt-peak, with a bidding pipeline exceeding 36 GWp, suggesting a strong near-term execution runway. Waaree Renewable provides solar EPC services and operations and maintenance for renewable energy assets. It listed on the exchanges in April 2025 and is a constituent of the Nifty Microcap 250 index, with a current market capitalisation of Rs 12,368.63 crore and no institutional shareholding.

The 52-week high is Rs 1,358.00, recorded on 27 October 2025. The stock has gained 29.64% in the past week and 44.25% over the past month. Year-to-date, it’s up 23.06%. At 10:05 am, shares were trading up by 12.28% at Rs 1,190.50 on the NSE.

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