New Delhi, Apr 30 (PTI) Waaree Energies has posted around 75 per cent rise in consolidated net profit to Rs 1,126 crore during the quarter ended March 31, supported by higher revenues from its core business.
The company had reported a net profit of Rs 644.47 crore in the year ago period, the company said in an exchange filing on Wednesday.
During the January-March quarter, the company's total income more than doubled to Rs 8,659.98 crore from Rs 4,140.92 crore in the fourth quarter of the preceding 2024-25 financial year.
For the entire FY26, the net profit surged to Rs 3,884.15 crore from Rs 1,928.13 crore in FY25.
The board of the company has recommended a final dividend of Rs 2 per equity share of Rs 10 each at the rate of 20 per cent for the year ended March 31, 2026, subject to approval of the Members at the ensuing Annual General Meeting (AGM) of the company.
The board also approved raising up to Rs 10,000 crore through Qualified Institutional Placement (QIP) route or through any other permissible mode, subject to approval of shareholders.
In a statement, company's Whole Time Director & CEO Jignesh Rathod said FY26 performance lays a strong foundation for a stated roadmap towards becoming one of the largest non Chinese energy transition enablers.
With expansions into battery energy storage systems, inverters, transformers, transmission and distribution and electrolysers for green hydrogen.
"As we enter FY27, the company is projecting an Operating EBITDA range of Rs 7,000 -7,700 crore. Our focus is on deepening value chain integration while scaling next-generation growth engines, strengthening Waaree's vertical capabilities and expanding into high-potential adjacent segments," the company official said.
The company announced that it has completed the acquisition of a strategic stake in United Solar Holding Inc., Oman’s polysilicon leader, securing a traceable supply chain and supporting its US and global expansion.
As per the statement, a capex of Rs 3,900 crore has been approved by the board for a 2,500 TPD (tonne per day) glass manufacturing plant.
It has commenced construction of India's largest 10 GW integrated ingot and wafer facility in Nagpur with Rs 6,200 cr capex, strengthening upstream solar manufacturing and supply chain self-reliance.
It has also commissioned an additional module capacity of 3 GW at Samakhiali, Gujarat.