Waaree Renewable Technologies Limited (534618) Earnings Call Transcripts

Waaree Renewable Technologies Limited's Latest Earnings Call - April 17, 2026

In Q4 and FY 2026, Waaree Renewable Technologies Limited reported a revenue of INR 1,140 crores, up 31% year-over-year, and an annual revenue of INR 3,331.42 crores, reflecting an 18.5% increase. EBITDA for the quarter was INR 206.82 crores with a margin of 18.76%, while net profit surged 66% year-over-year to INR 155.72 crores. Management maintained a positive outlook, citing a strong order book of 2.83 gigawatts and a robust pipeline of 36 gigawatts, indicating continued growth potential despite a slight decline in order inflows compared to the previous year.

Reported metrics

Guidance from management

Management maintained a positive outlook with a strong order book and pipeline, indicating continued growth potential. They expect EBITDA margins to stabilize around 15%.

What management said

So this variation which are not [indiscernible], it depends upon which kind of orders we are executing for a particular quarter. So as you are aware, we are taking all types of products with models without [indiscernible]. For the particular quarter, which is this current quarter, some of the orders are executed with model. So therefore, we are getting this kind of some ...

So for this quarter actually around broadly, if I say, I mean [indiscernible] it's around 50% of the education revenue numbers are coming from the -- with model. So therefore, there is a realization which we have noticed is coming as compared to other matters.

What analysts pressed on

Analysts expressed concerns regarding the slowdown in tendering activity and its potential impact on future order inflows. There were also questions about the competitive landscape and margin pressures due to aggressive bidding by new entrants in the market.

Main topics on the call

• Strong Revenue Growth — Waaree reported a revenue of INR 1,140 crores for Q4 FY 2026, a 31% increase from the same quarter last year. Management noted, "These results highlight our strong execution capability and the operating leverage that we ...
• Significant EBITDA Increase — The company achieved an EBITDA of INR 206.82 crores for the quarter, with a margin of 18.76%. This marks a substantial improvement, showcasing operational efficiency.
• Order Book and Pipeline — Management reported an unachieved order book of 2.83 gigawatts and a pipeline of 36 gigawatts, indicating strong visibility for future revenues. They stated, "We are actively participating or looking at all kinds of oppo...
• Concerns Over Tendering Activity — There was a noted slowdown in tendering activity compared to FY 2025, with management acknowledging that "the tenders are there, but we are only participating when they suit our margin or stable risk-reward metrics."

Read the full Waaree Renewable Technologies Limited transcript (April 17, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 4 Waaree Renewable Technologies Limited earnings call transcripts on record, spanning January 17, 2025 to July 23, 2026. Based on this history, Waaree Renewable Technologies Limited reports semi-annually. The most recent call on file is dated July 23, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

534618

Exchange

BSE

Country

IN

Sector

Industrials

Industry

Construction and Engineering

Calls on record

4

First call

January 17, 2025

Most recent

July 23, 2026

Reporting cadence

semi-annually