Waaree Renewable Technologies shares fall 12% as costs hit Q2 profit; revenue rises
Waaree Renewable Technologies' earnings before interest, taxes, depreciation and Ebitda increased 1.29% YoY to Rs 159.98 crore in Q2 FY27, from Rs 157.95 crore a year earlier.
- Oct 21, 2026,
- Updated Oct 21, 2026 4:04 PM IST
Waaree Renewable Technologies Ltd shares tumbled 12% on Wednesday as Bloomberg reported that rising costs hit the company's September-quarter profit, despite a sharp increase in revenue. Bloomberg reported that the stock fell as much as 13%, marking its biggest intraday plunge since April last year, and that trading volume was 8.4 times the three-month full-day average.
The company reported consolidated net profit of Rs 81.48 crore for Q2 FY27, down 29.98% year-on-year (YoY) from Rs 116.36 crore a year earlier. Revenue from operations, however, rose 36.53% YoY to Rs 1,057.84 crore from Rs 774.78 crore. Bloomberg reported that total costs rose to Rs 9.6 billion from Rs 6.2 billion, mainly due to higher contracting expenses and changes in inventory value.
Waaree Renewable Technologies Ltd shares closed at Rs 743.05, down 10.06% from the previous close of Rs 826.15. During the session, the stock opened at Rs 735.75, touched a high of Rs 760.60 and a low of Rs 725. At its session low, the stock was down 12.24% from the previous close.
Waaree Renewable Q2 results: Revenue grows, margins weaken
Waaree Renewable Technologies' earnings before interest, taxes, depreciation and amortisation (Ebitda) increased 1.29% YoY to Rs 159.98 crore in Q2 FY27, from Rs 157.95 crore a year earlier. However, its Ebitda margin narrowed to 15.12% from 20.39%, while the profit after tax margin declined to 7.70% from 15.02%.
For the first half of FY27, revenue from operations rose 43.84% YoY to Rs 1,982.09 crore, while Ebitda increased 21.04% to Rs 333.46 crore. Net profit for the six months stood at Rs 200.44 crore, compared with Rs 202.75 crore in H1 FY26, a decline of 1.14%.
The company’s consolidated unexecuted order book stood at more than Rs 5,500 crore. Its bidding pipeline included solar projects of over 34.6 GWp, battery energy storage system (BESS) projects exceeding 12.5 GWh, and transmission and distribution opportunities worth more than Rs 21,900 crore.
Commenting on the results, Manmohan Sharma, CFO of Waaree Renewable Technologies, said the quarter's growth was driven by "steady progress across our project portfolio, timely execution, and our expanding capabilities across the renewable energy value chain and T&D segment." He added that acquisition-related financing costs and the addition of a business with a different margin profile had affected near-term profitability.
Waaree Renewable Technologies Ltd shares tumbled 12% on Wednesday as Bloomberg reported that rising costs hit the company's September-quarter profit, despite a sharp increase in revenue. Bloomberg reported that the stock fell as much as 13%, marking its biggest intraday plunge since April last year, and that trading volume was 8.4 times the three-month full-day average.
The company reported consolidated net profit of Rs 81.48 crore for Q2 FY27, down 29.98% year-on-year (YoY) from Rs 116.36 crore a year earlier. Revenue from operations, however, rose 36.53% YoY to Rs 1,057.84 crore from Rs 774.78 crore. Bloomberg reported that total costs rose to Rs 9.6 billion from Rs 6.2 billion, mainly due to higher contracting expenses and changes in inventory value.
Waaree Renewable Technologies Ltd shares closed at Rs 743.05, down 10.06% from the previous close of Rs 826.15. During the session, the stock opened at Rs 735.75, touched a high of Rs 760.60 and a low of Rs 725. At its session low, the stock was down 12.24% from the previous close.
Waaree Renewable Q2 results: Revenue grows, margins weaken
Waaree Renewable Technologies' earnings before interest, taxes, depreciation and amortisation (Ebitda) increased 1.29% YoY to Rs 159.98 crore in Q2 FY27, from Rs 157.95 crore a year earlier. However, its Ebitda margin narrowed to 15.12% from 20.39%, while the profit after tax margin declined to 7.70% from 15.02%.
For the first half of FY27, revenue from operations rose 43.84% YoY to Rs 1,982.09 crore, while Ebitda increased 21.04% to Rs 333.46 crore. Net profit for the six months stood at Rs 200.44 crore, compared with Rs 202.75 crore in H1 FY26, a decline of 1.14%.
The company’s consolidated unexecuted order book stood at more than Rs 5,500 crore. Its bidding pipeline included solar projects of over 34.6 GWp, battery energy storage system (BESS) projects exceeding 12.5 GWh, and transmission and distribution opportunities worth more than Rs 21,900 crore.
Commenting on the results, Manmohan Sharma, CFO of Waaree Renewable Technologies, said the quarter's growth was driven by "steady progress across our project portfolio, timely execution, and our expanding capabilities across the renewable energy value chain and T&D segment." He added that acquisition-related financing costs and the addition of a business with a different margin profile had affected near-term profitability.