Waaree Energies tumbles Nearly 9%; Stock Gaps Down Sharply at Open Amid Profit-booking

Mumbai, April 30: Shares of Waaree Energies fell sharply on Thursday, with the stock trading at ₹3,192.70, down ₹310.20 or 8.86% from Wednesday’s closing price of ₹3,502.90, in what appeared to be a steep gap-down open driven by aggressive profit-booking after the stock’s strong two-session rally.  

The stock briefly touched an intraday high of around ₹3,460 in pre-open trade before crashing to ₹3,270 within the first few minutes of the market opening at 9:15 am. It then drifted further lower, consolidating in a narrow ₹3,190–₹3,230 band through the rest of the available morning session, suggesting initial shock selling had stabilised but buyers remained reluctant to step in aggressively. By 9:45 am the stock was trading around ₹3,192, down sharply from its pre-open peak of ₹3,460, a swing of nearly 8% in under half an hour of trade. 

Weekly Trend 

The stock had been on a strong recovery heading into Wednesday, climbing from a weekly low of ₹3,315 on April 24 to ₹3,463 on April 28 and surging further in pre-open on April 29, before the sharp intraday reversal pushed the one-week return to negative 6.35%, underperforming the Nifty Midcap 50’s modest decline of 0.32%.  

Order Book 

The order book at last update was heavily sell-side dominant, with 65.77% of total quantity on the ask side (3,47,931 shares) versus 34.23% on the bid side (1,81,083 shares), reinforcing the bearish near-term price pressure on the stock.

Quarterly Results — Q4 FY26 

Waaree Energies delivered an outstanding set of quarterly numbers, with consolidated net profit surging 71.45% year-on-year to ₹1,061.10 crore in Q4 FY26, compared to ₹618.91 crore in Q4 FY25, reflecting strong execution across its solar module manufacturing and project business. Revenue from operations more than doubled, rising 111.80% to ₹8,480.25 crore from ₹4,003.93 crore in the year-ago quarter, driven by robust domestic and export order execution. EBITDA and EBITDA margins were not separately disclosed in the available data, though the sharp revenue and profit growth suggests significant operating leverage at play during the quarter. Basic earnings per share for Q4 FY26 rose proportionately in line with the 71.45% net profit growth. 

Full-Year Results — FY26 

For the full financial year FY26, Waaree Energies continued its high-growth trajectory with consolidated net profit rising 98.74% to ₹3,711.30 crore from ₹1,867.39 crore in FY25 — nearly doubling year-on-year, a remarkable feat for a company of its scale. Revenue from operations grew 83.72% to ₹26,536.77 crore in FY26 from ₹14,444.50 crore in FY25, cementing its position as one of India’s fastest-growing renewable energy manufacturers. 

On the strategic front, the company completed the acquisition of a stake in United Solar Holding Inc., a polysilicon manufacturer in Oman, strengthening supply chain security. The board approved ₹3,900 crore capex for a 2,500 tonne-per-day solar glass facility and commenced construction of a 10 GW integrated ingot and wafer facility in Nagpur at ₹6,200 crore. An additional 3 GW module capacity was commissioned at Samakhiali, Gujarat. 

Dividend 

The board recommended a final dividend of ₹2 per share, taking the total FY26 dividend to ₹4 per share. 

Source:
https://www.nseindia.com/get-quote/equity/WAAREEENER/Waaree-Energies-Limited