Waaree Energies posts record Q3 FY26 results

Waaree Energies Limited has reported record quarterly financial results for Q3 FY26, with standalone revenue and profit more than doubling year-on-year. For the quarter ended 31 December 2025, the company reported standalone revenue from operations of Rs 7,565.05 crores, up 118.81% compared to the same period last year. Standalone Profit After Tax (PAT) increased 118.35% to Rs 1,106.79 crores. 

During the quarter, Waaree manufactured 3.51 GW of solar modules and 0.75 GW of solar cells. The company also reported a consolidated order book of around Rs 60,000 crores.

The financial results were approved by the Board on 21 January 2026. As part of the results, the company recognised an exceptional item of Rs 294.78 crores related to an investigation by U.S. Customs and Border Protection (CBP) into the origin of components used in modules exported to the United States since January 2021. Waaree Energies stated that it has not received any demand from CBP and is cooperating with the investigation.

During the quarter, the company continued to expand its manufacturing footprint. It commissioned new solar module and inverter manufacturing capacities in Gujarat. Waaree Energies also completed acquisitions, subscribed to shares in a polysilicon manufacturing company, and raised funds for a battery manufacturing facility.

The auditors, in their review, noted a separate investigation initiated by Indian income tax authorities in November 2025. The company stated that no adjustments related to this matter have been made to the reported financial results.

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