Q3 2026 Waaree Renewable Technologies Ltd Earnings Call Transcript
Key Points
- Waaree Renewable Technologies Ltd (BOM:534618) reported a significant revenue growth of 136.18% year-over-year for Q3, reaching INR851.06 crore.
- The company's EBITDA increased by 120.79% year-over-year, with an EBITDA margin of 18.66% for the quarter.
- For the nine months of FY 2026, the company recorded a total revenue from operations of INR2,229.03 crore, up 98.81% compared to the same period last year.
- The order book remains healthy with an unexecuted order book of 2.92 gigawatt peak, providing clear visibility for upcoming quarters.
- Waaree Renewable Technologies Ltd (BOM:534618) is well-positioned to capture growth in the EPC and allied segments, supported by a solid order book and favorable government policies.
- There was a slight contraction in EBITDA margins for the quarter compared to previous quarters.
- The realization per megawatt of executed projects has come down, indicating potential pricing pressures.
- The order book decreased from 3.2 gigawatt to 2.9 gigawatt, partly due to adjustments in one order.
- Execution of orders slowed down in Q3 compared to Q2, raising concerns about maintaining execution pace.
- The company faces competition from new entrants in the market, which could impact future margins.
Ladies and gentlemen, good day, and welcome to the Q3 and nine M FY26 Earnings Conference Call of Waaree Renewable Technologies Limited hosted by MUFG Intime India Private Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Ms. Mamta Nehra from MUFG Intime India Private Limited. Thank you, and over to you.
Thank you. Good afternoon, ladies and gentlemen. I welcome you all to the Q3 and nine months FY26 Earnings Conference Call of Waaree Renewable Technologies Limited. Today, on the call, we have from the management, Mr. Hitesh Mehta, Whole-Time Director; Mr. Manmohan Sharma, CFO; Mr. Abhishek Pareek, Group Head, Finance; Mr. Neeraj Vinayak, Vice President, Investor Relations; and Mr. Rohit Wade, General Manager, Investor Relations.
Before we proceed with this call, I would like to mention that some of the statements made in today's call may be forward-looking in nature and may involve risks and
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