Waaree Energies has reinforced its market leadership by securing a significant 500 MW solar module supply order from a domestic Independent Power Producer. The contract is scheduled for execution during the 2026-27 financial year, further strengthening a robust order book that currently stands at approximately ₹60,000 crore. The company is aggressively diversifying its portfolio with a planned capital expenditure of ₹8,000 crore to ₹10,000 crore. A major portion of this investment is dedicated to a greenfield gigafactory in Andhra Pradesh, aimed at scaling battery storage capacity from 3.5 GWh to 20 GWh. This facility will integrate the production of lithium-ion cells, battery packs, and grid-scale storage systems. Financial performance for the latest quarter shows exceptional growth, with consolidated net profit more than doubling to ₹1,106 crore, up from ₹507 crore in the same period last year. Revenue followed a similar trajectory, surging 118% to reach ₹7,565 crore. These gains were driven by record module production and a significant increase in engineering, procurement, and construction (EPC) business revenues. Profitability metrics remain strong as the company benefits from higher operating leverage. Operating EBITDA for the third quarter rose 167% year-on-year to ₹1,928 crore, with EBITDA margins improving to 25.5%. Waaree recently achieved a milestone as the first Indian manufacturer to exceed 1 GW of module production and sales in a single month. The broader sector backdrop is equally supportive. India added a record 44.5 GW of renewable capacity in 2025, with solar accounting for nearly 35 GW of that growth. While global module prices have stabilized between $0.08 and $0.11 per watt, the shift toward high-efficiency TOPCon technology and domestic manufacturing incentives continues to drive demand. With a current market capitalization of approximately ₹83,260 crore, Waaree Energies is positioned as a primary beneficiary of India’s energy transition. The company’s integrated approach—spanning solar modules, green hydrogen, and advanced battery storage—aligns with national targets to reduce import dependency and secure energy infrastructure.