Waaree Energies Ltd reported a 14 per cent year-on-year (y-o-y) rise in consolidated net profit at ₹850 crore for the quarter ended June 30, 2026, after recognising income related to refund of reciprocal duties levied under tariffs imposed by the US under the International Emergency Economic Powers Act (IEEPA), following a ruling by the US Supreme Court that declared such duties unlawful.
The company recognised ₹349.28 crore, net of amounts due to customers, as other operating revenue towards the refund claims accepted by the US Customs and Border Protection (CBP). It also recorded ₹25.13 crore as a reduction in the cost of assets and inventory, according to its regulatory filing.
Revenue from operations during the quarter rose 79 per cent y-o-y to ₹7,932 crore, driven by strong growth in the company’s solar PV and EPC businesses. Revenue from solar PV operations increased 91 per cent, while EPC contract revenue grew 55 per cent during the quarter. Revenue from power generation, however, declined 9 per cent.
Waaree said the recognition of the tariff-related income was based on the status of refund claims accepted by the US CBP following the US Supreme Court verdict on reciprocal duties. The company accounted for the impact in the quarter under review in line with the applicable accounting treatment.
The company reported operating EBITDA of ₹1,439.92 crore for the quarter, a growth of 44 per cent y-o-y, while EBITDA margin stood at 18.15 per cent.
The company said module production during the quarter increased 42 per cent y-o-y to 3.24 GW, supported by operational efficiency and scale advantages.
Waaree also strengthened its order pipeline during the quarter, adding new orders worth around ₹16,000 crore, taking its total order book to approximately ₹61,500 crore. The company said the order book provides strong revenue visibility as it expands its presence across the renewable energy value chain.
The company reiterated its FY27 operating EBITDA guidance of ₹7,000-7,700 crore, supported by its manufacturing expansion, diversified clean energy platform and growing order book.
Published on July 29, 2026
