Waaree Energies Q4 FY26: Profit up 71%, ₹2 dividend

Board meeting clears audited Q4 and FY26 numbers

Waaree Energies informed exchanges that its Board of Directors met on April 29, 2026, to consider and approve the audited financial results for the quarter and financial year ended March 31, 2026. The approvals covered both standalone and consolidated results. The filings were made under Regulation 30 of the LODR framework.

This board meeting was a key corporate event for investors tracking the company’s FY26 close. Waaree’s filings also referenced the usual governance steps around results approval and disclosures to stock exchanges.

Q4 FY26: profit rises to ₹1,061 crore, revenue jumps to ₹8,480 crore

For Q4 FY26, Waaree Energies reported a strong set of numbers, supported by its solar business momentum. Net profit increased 71.4% year on year to ₹1,061 crore. Revenue grew 112% year on year to ₹8,480 crore.

The company’s Q4 update added to the recent pattern of high growth that had been visible in earlier quarterly performance disclosures. The Q4 results were released alongside board decisions on shareholder returns and capital-raising plans.

Final dividend: ₹2 per share at 20%

In a dividend update filed with the exchanges, Waaree Energies recommended a final dividend of ₹2 per equity share of face value ₹10 each. The filing described this as a 20% final dividend for the financial year ended March 31.

Some earlier market commentary around the Q4 results had indicated that a dividend may not be declared with the March-quarter numbers. However, the exchange filing around the board’s decisions clearly included a final dividend recommendation of ₹2 per share.

Fundraising approval: up to ₹10,000 crore via multiple instruments

Alongside the results, Waaree Energies disclosed a board approval to raise funds up to ₹10,000 crore. The company said the fundraising could be undertaken through multiple instruments, including QIP, non-convertible debentures, and warrants. The plan is subject to necessary approvals.

The disclosure positions fundraising as a parallel corporate action to the results and dividend announcement. It also signals that Waaree is keeping multiple funding routes open, rather than committing to a single instrument at this stage.

Investor conference call on April 30 at 3:00 PM IST

Waaree Energies also announced an investor conference call scheduled for April 30, 2026, at 3:00 PM IST. The stated purpose of the call is to discuss the company’s audited financial results for Q4 and the full fiscal year ended March 31, 2026.

The call is expected to be a structured forum for shareholders and analysts to understand audited performance and operational execution. The company note listed key participants including CEO Mr. Jignesh Rathod and CFO Mr. Abhishek Pareek.

Earlier disclosed operating momentum: Q3 FY26 surge and margin expansion

Prior disclosures around Q3 FY26 highlighted the scale of Waaree’s growth heading into the year-end. Q3 FY26 revenue from operations was reported at ₹7,565.05 crore versus ₹3,457.29 crore in Q3 FY25. EBITDA rose to ₹1,928.15 crore from ₹722 crore, with margins improving to 25.49% from 20.88%.

Profit after tax for Q3 FY26 was reported at ₹1,106.79 crore, up 118.35% year on year. For the nine-month period ended December 31, 2025, revenue was ₹18,056.52 crore, EBITDA was ₹4,331.88 crore, and PAT was ₹2,757.89 crore.

Capacity additions and execution points cited in recent updates

Operational commentary around Q3 FY26 included module production of 3.51 GW and solar cell production of 0.75 GW during the quarter. The company also cited commissioning of additional manufacturing capacity, including a 2.1 GW module plant at Chikhli, a 3 GW module facility at Samakhiali, and 3.05 GW of inverter manufacturing capacity at Sarodhi, all in Gujarat.

Separately, the company had stated it raised around ₹1,003 crore during the quarter to support a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility, as part of a capital expenditure plan referenced at about ₹10,000 crore.

Order book disclosures and FY26 EBITDA guidance

Waaree has cited large order book numbers across different updates. One disclosure stated that as of March 2025, the order book exceeded 25 GW and was valued at approximately ₹47,000 crore. Another update around Q3 referenced an order book of around ₹60,000 crore, alongside an order pipeline exceeding 100 GW.

On profitability expectations, Waaree has communicated an EBITDA guidance range for FY26 of ₹5,500 crore to ₹6,000 crore in its recent commentary.

Market context: stock moves and valuation data cited

Stock price and valuation references in the provided material indicate that the shares reacted sharply after Q3 numbers. One update said the stock jumped 9.29% to close at ₹2,640.25 after the December 2025 quarter results.

Another update cited the stock trading around ₹2,713, with a market capitalisation of about ₹69,580 crore. The same note referenced a 52-week high of ₹3,865 and cited valuation ratios including P/E of 21.28, P/S of 4.78, and P/B of 7.25.

Key facts table

Why this set of announcements matters

The combination of audited results, a final dividend recommendation, and a large fundraising approval places multiple decision points in front of investors at the same time. Q4’s profit and revenue growth numbers reinforce the pace of execution indicated by the earlier Q3 disclosures on margins, production, and capacity additions.

The investor call scheduled for April 30 is likely to be closely watched for audited segment detail and balance sheet discussion, since it is explicitly positioned as a forum to discuss Q4 and FY26 audited results. Separately, the ₹10,000 crore fundraising approval adds a capital allocation layer that investors typically assess alongside operating performance.

Conclusion

Waaree Energies’ April 29 board meeting outcome combined audited Q4 and FY26 results with a ₹2 final dividend recommendation and an approval to raise up to ₹10,000 crore through multiple instruments. The next confirmed event is the investor conference call on April 30, 2026, at 3:00 PM IST to discuss the audited numbers and related disclosures.