Conference Call with Waaree Energies Management and Analysts on Q1FY27 Performance and Outlook. Listen to the full earnings transcript.
Electrical Equipment & Products company Waaree Energies announced Q1FY27 results Consolidated Financial Highlights: Revenue from operations for Q1FY27 stood at Rs 7,931.79 crore, representing a decrease of 6.47% QoQ from Rs 8,480.25 crore in Q4FY26, while recording a growth of 79.22% YoY from Rs 4,425.83 crore in Q1FY26. Total income for the quarter Q1FY27 was reported at Rs 8,102.60 crore, down 6.44% compared to Rs 8,659.98 crore in Q4FY26 (QoQ) and up 76.25% from Rs 4,597.18 crore in Q1FY26 (YoY). Other income during Q1FY27 reached Rs 170.81 crore, as against Rs 179.73 crore in Q4FY26 and Rs 171.35 crore in Q1FY26. Profit before tax for Q1FY27 reached Rs 1,210.38 crore, reflecting a decrease of 14.03% QoQ from Rs 1,407.95 crore in Q4FY26, but an increase of 28.31% YoY compared to Rs 943.36 crore in Q1FY26. Net profit for the period Q1FY27 stood at Rs 891.87 crore, showing a decline of 20.81% QoQ from Rs 1,126.26 crore in Q4FY26 and an increase of 15.39% YoY from Rs 772.89 crore in Q1FY26. Total comprehensive income for Q1FY27 was reported at Rs 891.91 crore, compared to Rs 1,131.10 crore in Q4FY26 and Rs 760.99 crore in Q1FY26. Basic Earnings Per Share (EPS) for Q1FY27 was Rs 29.56, compared to Rs 36.91 in Q4FY26 and Rs 25.94 in Q1FY26. Standalone Financial Highlights: Revenue from operations for Q1FY27 was Rs 6,221.67 crore, reflecting a decrease of 7.80% QoQ from Rs 6,747.80 crore in Q4FY26 and a growth of 84.62% YoY from Rs 3,369.92 crore in Q1FY26. Total income for the quarter Q1FY27 stood at Rs 6,416.59 crore, marking a 8.05% QoQ decrease from Rs 6,978.25 crore in Q4FY26 and a 79.88% YoY increase from Rs 3,567.10 crore in Q1FY26. Other income during Q1FY27 was Rs 194.92 crore, as against Rs 230.45 crore in Q4FY26 and Rs 197.18 crore in Q1FY26. Profit before tax for Q1FY27 reached Rs 992.93 crore, down 17.89% QoQ from Rs 1,209.33 crore in Q4FY26 and up 12.45% YoY from Rs 882.96 crore in Q1FY26. Net profit for the period Q1FY27 was reported at Rs 739.10 crore, showing a decrease of 20.83% QoQ from Rs 933.56 crore in Q4FY26 and an increase of 12.00% YoY from Rs 659.89 crore in Q1FY26. Total comprehensive income for Q1FY27 stood at Rs 739.09 crore, compared to Rs 934.04 crore in Q4FY26 and Rs 660.14 crore in Q1FY26. Basic Earnings Per Share (EPS) for Q1FY27 was Rs 25.69, compared to Rs 32.45 in Q4FY26 and Rs 22.97 in Q1FY26. Business Highlights: Segment-wise Performance: Solar Photovoltaic Modules: Contributed Rs 7,399.82 crore in Q1FY27, up from Rs 3,872.35 crore in Q1FY26. EPC Contracts: Reported revenue of Rs 913.99 crore in Q1FY27, up from Rs 589.27 crore in Q1FY26. Generation of Power: Stood at Rs 9.86 crore in Q1FY27, compared to Rs 33.77 crore in Q1FY26. Acquisition: The subsidiary company, Waaree Renewable Technologies Limited, completed the acquisition of a 55% stake in Associated Power Structures Private Limited (APSPL) for a total consideration of Rs 1,225.00 crore on June 18, 2026. Duty Refund: Following a US Supreme Court verdict, the Group recognized income of Rs 349.28 crore as other operating revenue and Rs 25.13 crore as a reduction from cost of asset and inventory in relation to a refund of reciprocal duties under IEEPA tariffs. IPO Proceeds: Out of the fresh issue proceeds of Rs 3,600.00 crore, the company has utilized Rs 2,448.68 crore as of June 30, 2026, primarily for establishing 6GW manufacturing facilities for Ingot-Wafer, Solar Cell, and Solar PV Modules. Subsidiary Investment: The Holding Company infused funds amounting to Rs 150.00 crore into its wholly owned subsidiary, Waaree Energy Storage Solutions Private Limited, on July 8, 2026. Result PDF