Profit before exceptional items and tax stood at Rs 1,763.80 crore in Q3 FY26, marking a growth of 155.69% from Rs 689.81 crore reported in Q3 FY25. The company reported an exceptional loss of Rs 294.78 crore during the quarter.

EBITDA for the quarter stood at Rs 1,928.15 crore, registering a growth of 167.16% compared with Rs 721.73 crore in Q3 FY25. The EBITDA margin improved significantly to 25.49% in Q3 FY26 from 20.88% in the corresponding quarter last year.

During the quarter, the company achieved module production of 3.51 GW, driven by strong operational execution. Cell production stood at 0.75 GW in Q3 FY26.

On a nine-month basis, Waaree Energies’ consolidated net profit jumped 112.27% YoY to Rs 2,650.21 crore, while revenue increased 72.94% YoY to Rs 18,056.52 crore in 9M FY26 compared with the same period last year.

Amit Paithankar, Whole Time Director & CEO, Waaree Energies, said, “Waaree Energies has delivered another exceptional quarter, with Q3 FY26 marking record revenue and profitability. Over the nine months, we have achieved significant growth in both topline and EBITDA, reflecting the resilience of our business model and the trust our customers place in us. I am pleased to share that Waaree is First Indian Manufacturer to achieve 1 GW+ of module production and sales in single month with 52 modules produced per minute.

We have secured a record order inflow, strengthening our order book of around Rs 60,000 crore ensuring sustained visibility for the years ahead. Also, we have secured bankable PPAs backed by land and connectivity. We are accelerating our transformation into an integrated clean energy solutions provider by strengthening adjacencies across BESS, inverter, transformer, Renewable Power Infrastructure and green hydrogen electrolyser creating a resilient and future-ready portfolio. Additionally, our recent acquisition strengthens our supply chain by ensuring secure and fully traceable access to polysilicon, supporting Waaree’s rapidly expanding manufacturing footprint in the U.S.A. and global markets.

With disciplined execution, prudent capital allocation and strategic diversification, we are confident of closing FY26 on a strong note. Waaree is on track to achieve its EBITDA target of Rs 5,500–6,000 crore while creating long-term value for stakeholders and contributing meaningfully to India’s clean energy transition.”

Mumbai-based Waaree Energies is a renewable energy company. It offers innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems.