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Waaree Energies shares drop over margin compression after strong Q1 results
Even with Q1 FY27 profit up 14% to ₹850 crore and revenue up 79% to ₹7,932 crore, EBITDA margin fell to 18.2% from 22.5%, driving the selloff.
Waaree Energies shares fell more than 6% on July 30, a day after the renewable energy company reported its Q1 FY27 results, as investors focused on margin compression despite strong top line and profit growth, according to LiveMint Markets. For the quarter ended June 2026, Waaree Energies said net profit rose 14% year over year to ₹850 crore, while revenue from operations jumped 79% to ₹7,932 crore. At the operating level, EBITDA increased 44% to ₹1,440 crore. However, the company’s EBITDA margin narrowed to 18.2% from 22.5% in the year-ago period, and that change appeared to be the key driver of the decline. LiveMint Markets also pointed to additional items in the quarter, including ₹349.18 crore of other operating revenue tied to a US Supreme Court ruling on reciprocal duties and accepted refund claims, plus ₹25.13 crore recognized as a reduction in the cost of assets and inventory. Waaree Energies also highlighted operational expansion during the quarter, including producing 3.24 GW of solar modules, with a 10 GW solar cell facility at Unn, Gujarat progressing toward production during the current financial year. The company also commenced production at a 5.15 GWh automated BESS container manufacturing facility in Rola, Gujarat, and acquired a 55% equity stake in Associated Power Structures Private Limited to support integrated renewable project execution.