Waaree Energies Q4 FY26: Key numbers before Apr 29

What investors are watching on April 29

Waaree Energies is scheduled to announce its Q4 FY26 results on April 29, after a meeting of the Board of Directors that will consider and approve the audited financial statements. The company’s stock was trading higher on the NSE ahead of the announcement in multiple intraday updates. One update said the shares were up 1.46% at ₹3,504.10, while another put the move at 1.07% to ₹3,490.6 and 0.78% to ₹3,480.50. A separate market close update said the stock settled 2.07% higher at ₹3,525.10 before the earnings and dividend decision.

Besides earnings, the board agenda includes consideration of a final dividend recommendation for FY26, as cited in the meeting-related update. But another update explicitly stated that Waaree Energies will not declare any dividend with the Q4 FY26 financial results. Investors are also tracking how the company’s strong Q3 FY26 performance and export-led demand translate into Q4 numbers.

Stock price action before the results

The stock’s recent performance was described differently across updates. One set of live updates said Waaree Energies gained 2.73% over the past week and 13.86% over a month, with year-to-date gains of 19.15%. Another update said the shares have surged over 26% since the start of March 2026 and are up over 17% so far this year despite volatile market conditions. A separate Hindi update cited a decline of about 4.56% over the last five trading sessions, a one-month gain of about 8.84%, and a year-to-date rise of about 13.90%.

The same Hindi update also noted the stock closed at ₹3,366 on April 27, 2026 and referenced a market valuation of about ₹96,554 crore and a trailing twelve-month P/E of about 27.8.

What the street expects for Q4 FY26

Expert estimates cited in the updates suggest Waaree Energies’ net profit could rise 80% to 85% year-on-year to a range of ₹1,050 crore to ₹1,130 crore. The same estimates peg revenue from operations in Q4 FY26 at ₹7,900 crore to ₹8,100 crore, implying 97% to 102% year-on-year growth. The preview also cited a 6% to 8% quarter-on-quarter rise in profit and a 4% to 7% quarter-on-quarter rise in revenue.

The drivers mentioned for the expected growth include robust export demand and higher solar PV module prices, with rising prices linked to global supply constraints. Market participants are also watching management commentary around demand conditions, pricing, and order execution.

Q3 FY26 performance: two sets of reported numbers

The article text included two sets of Q3 FY26 numbers. One update said Waaree Energies posted a 115.64% jump in consolidated profit after tax (PAT) to ₹1,062.46 crore in Q3 FY26 from ₹492.69 crore a year earlier. The same update said revenue from operations rose 118.81% to ₹7,565.05 crore from ₹3,457.29 crore.

Another update reported a 119% year-on-year jump in consolidated total income to ₹7,761.23 crore in Q3 FY26 from ₹3,545.27 crore in Q3 FY25, while net profit rose 118.35% to ₹1,106.79 crore from ₹506.88 crore.

Taken together, the Q3 figures highlighted a sharp rise in both revenue and profitability, which sets a high base for Q4 comparisons and makes the Q4 print and the accompanying commentary important for investor expectations.

Dividend watch: what has been said so far

The board meeting update said directors will consider a recommendation of a final dividend for FY26. Separately, a Q&A style update said Waaree Energies will not declare any dividend with the Q4 FY26 financial results.

On historical payouts, the same Q&A update said Waaree Energies has announced one dividend since listing, paying ₹2 per share in 2025. Investors typically look for consistency and clarity around payout policy, so the final board communication will matter for income-focused shareholders.

Key reference points from last year and last quarter

The preview cited Q4 FY25 consolidated revenue of ₹4,004 crore and net profit of ₹619 crore. It also cited Q3 FY26 consolidated revenue of ₹7,565 crore and net profit of ₹1,062 crore. These figures frame the year-on-year and quarter-on-quarter expectations mentioned by experts for Q4 FY26.

The stock’s 52-week range was also provided: a high of ₹3,865 per share on September 12, 2025 and a low of ₹2,345.10 on April 21, 2025.

Table: reported figures and expectations (all amounts in ₹ crore)

Corporate actions and compliance timeline

A meeting of the Board of Directors was scheduled on April 29 to consider and approve the Q4 FY26 results. The same update said the trading window was closed from April 1 until 48 hours after the board meeting, in line with SEBI-related compliance norms cited in the text.

The company had not announced the exact timing for the release of results, and the article noted that in Q3 the earnings were released after market hours. That past pattern is often watched by traders, though the company has not confirmed a similar schedule for Q4.

Wider context: FY25 revenue, order book, and FY26 EBITDA guidance

One update said Waaree reported revenues of ₹14,846.06 crore for the full fiscal year 2025, marking 27.62% year-on-year growth. As of March 2025, the company’s order book exceeded 25 GW, valued at about ₹47,000 crore. The same text also cited an FY26 EBITDA guidance range of ₹5,500 crore to ₹6,000 crore.

The Hindi update added that analysts’ stance was broadly positive, citing “Buy” ratings and an average 12-month price target range of ₹3,457 to ₹4,130, and noted Nomura initiated coverage with a “Buy” and a price target of ₹3,750.

Market impact: what the April 29 outcome can change

Ahead of the announcement, the stock moved higher in multiple live ticks, reflecting active positioning into results. The immediate market reaction is likely to be shaped by how the reported Q4 numbers compare with the stated expectation bands for revenue and net profit. Dividend clarity is another trigger because the news flow included both a board consideration item and a separate claim that no dividend will be declared with the Q4 results.

The Q4 result is also important because the article narrative tied expected growth to export demand and module pricing, and investors typically look for confirmation of such drivers in management commentary. Any reaffirmation or revision of the EBITDA guidance cited for FY26, as well as commentary on order book and supply conditions, can influence near-term sentiment.

Separate mention: Waaree Renewable Technologies results also featured

Parts of the provided text discussed Waaree Renewable Technologies Ltd, a solar EPC company, which reported Q4 FY26 revenue from operations of ₹1,102.40 crore and net profit of ₹155.72 crore, with the stock rising sharply in early trade. This is a different company from Waaree Energies, and those figures should not be read as Waaree Energies’ results.

Conclusion

Waaree Energies’ April 29 board meeting and Q4 FY26 results are being tracked for three clear reasons: the scale of expected year-on-year growth, the comparison with strong Q3 FY26 numbers, and the final communication on FY26 dividend. Investors will watch the audited results, the board’s dividend decision, and any guidance-related commentary once the company releases the outcome of the meeting.