Waaree Energies reported a 14.2% decline in net profit for the second quarter of fiscal year 2027, falling to ₹753 crore. This drop occurred even as the company's revenue grew by 23.9% year-on-year to ₹7,517 crore. The mixed results led to a 3% fall in the company’s share price on the National Stock Exchange.
- Net profit fell 14.2% year-on-year to ₹753 crore in Q2FY27.
- Revenue increased 23.9% year-on-year to ₹7,517 crore.
- EBITDA decreased 5.1% to ₹1,335 crore, with margins dropping to 17.8%.
- Retail segment revenue share rose significantly to 46% in Q2FY27.
- Shares declined 3% following the earnings announcement.
What were the key financial results for Waaree Energies in Q2FY27?
Waaree Energies posted consolidated revenue of ₹7,517 crore for the quarter ended September 2026, marking a 23.9% increase from ₹6,065 crore in the same quarter last year. However, sequentially, revenue declined from ₹7,917 crore in Q1FY27.
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by 5.1% year-on-year to ₹1,335 crore. Correspondingly, the EBITDA margin dropped from 23.2% to 17.8%. The net profit declined 14.2% to ₹753 crore compared to ₹878 crore in the previous year’s quarter.
How did the revenue mix change in Q2FY27?
The revenue mix shifted notably in Q2FY27. The retail segment’s share increased substantially to 46% from 28.9% in Q1FY27. Other segments included utilities at 22.9%, overseas at 18.5%, and EPC, operations & maintenance, and transmission & distribution at 12.6%. This shift highlights a growing contribution from retail sales in the company’s overall revenue.
What did Waaree Energies’ CEO say about the performance?
Mr. Jignesh Rathod, Whole Time Director and CEO of Waaree Energies, stated that the first half of FY27 demonstrated the strength of the company’s business fundamentals and consistent execution of its growth strategy. He highlighted a 47% increase in revenues, 15% growth in EBITDA, and a nearly fivefold improvement in operating cash flows during this period, reflecting resilience in the company’s operations.
How did Waaree Energies shares perform after the results?
Following the announcement of the quarterly results, Waaree Energies shares opened at ₹2,225 on the NSE, down from the previous close of ₹2,275. The shares ultimately declined by 3% on the day. Over the year 2026, the stock has underperformed its broader benchmark category, delivering a negative 23% return year-to-date and falling 34% over the trailing twelve months.
Frequently Asked Questions
Q: What caused the decline in Waaree Energies’ net profit in Q2FY27?
A: The net profit decline was due to a decrease in EBITDA and margins, despite revenue growth. Operating profit dipped in single digits, impacting the bottom line.
Q: Which segment contributed most to revenue growth in Q2FY27?
A: The retail segment contributed the most, increasing its share of total revenue from 28.9% in Q1FY27 to 46% in Q2FY27.
Q: How has Waaree Energies’ stock performed in 2026?
A: The stock has underperformed, with a 23% loss year-to-date and a 34% decline over the past twelve months.
