Waaree Energies Q2: Revenue Grows 24%, But EBITDA Margins Face Pressure | Business News | ET Now
ET Now · 28 Oct 2026 · 9 min
Management interview of Waaree Energies Ltd (WAAREEENER), with 5 key numbers discussed.
- Abhishek Pareek, CFO, Waaree Energies
Waaree Energies maintained its full-year EBITDA guidance of Rs 70-77.08bn, stating that H1 typically represents about 40% of annual revenue and profitability, while H2 contributes 55-60%. The company expects annualized capacity utilization between 65% and 70%. It is expanding module and cell capacities, with 10 GW of cell capacity going live this year and US module capacity reaching 4.8 GW. Non-serviceable export contracts affected by US Section 232 tariffs have been excluded, leaving an order book of Rs 592bn without foreclosure liabilities. Remaining capex of around Rs 200bn will be fully funded through internal cash and cash equivalents.