Waaree Renewable Tech shares jump 13% on strong Q4; rally 35% in five sessions

Shares of Waaree Renewable Technologies extended their rally for the fifth straight session, rising as much as 35% over the period, driven by strong investor sentiment following robust fourth-quarter earnings.

On Friday, Waaree Renewable shares surged up to 13.5% to hit an intraday high of ₹1,202.60 on the BSE. It pared some early gains to trade 9% higher at ₹1,154.85 in the final hour of trade, with a market capitalisation of around ₹12,050 crore. The EPC arm of Waaree group witnessed heavy volumes, with 16.5 lakh shares traded compared to a two-week average of 0.77 lakh shares.

The stock has been on a strong upward trajectory, gaining nearly 40% over the past month and 19% year-to-date. However, it lost over 9% in the past six months, while delivering a modest 4% return over the past year. The shares had touched a 52-week high of ₹1,358.50 on October 27, 2025, and a 52-week low of ₹780 on March 30, 2026.

The rally was triggered by the Mumbai-based company’s strong financial performance for the quarter ended March 31, 2026.

The solar EPC company reported 131.3% year-on-year (YoY) growth in its revenue from operations at ₹1,102.4 crore during January-March quarter of FY26, compared to ₹476.6 crore in Q4 FY25. EBITDA rose 63.7% to ₹206.8 crore, while profit after tax (PAT) increased 66.1% to ₹155.7 crore.

For the full year FY26, the Mumbai-based company reported a 108.5% surge in revenue to ₹3,331.4 crore, up from ₹1,597.8 crore in FY25. EBITDA more than doubled to ₹641.1 crore, while PAT rose 109.1% to ₹478.7 crore.

Manmohan Sharma said the company delivered a “stellar and consistent” performance in FY26, driven by disciplined execution and strong demand in the renewable energy sector. He added that India’s renewable energy capacity has crossed 274 GW, with solar contributing over 150 GW as of March 2026. Solar additions surged to over 44 GW during FY26, compared to around 24 GW in the previous year, accounting for nearly 82% of total renewable capacity additions.

“In FY26, solar accounted for approximately 82% of total renewable capacity additions and firmly establishing solar as the primary driver of India’s clean energy transition,” he said.

“Supported by a robust unexecuted EPC order book of 2.83 GWp, WRTL continues to have strong visibility of project execution. Our focus on disciplined delivery, supported by O&M capabilities and operational efficiency, while consistently creating value for our stakeholders within India’s evolving renewable energy landscape,” Sharma said.

The company’s order book remains robust, with an unexecuted pipeline of 2.83 GWp slated for execution over the next 12–15 months. Its bidding pipeline has also expanded significantly, exceeding 36 GWp, indicating strong future growth visibility.