Waaree Energies Share Price Jumps 5% After Stunning 89% Profit Surge in Q1, But Should You Buy or Sell?

Waaree Energies' stock rose 5% on Tuesday on the Bombay Stock Exchange (BSE) following the release of its strong Q1 FY26 financial results. The solar energy company posted a consolidated net profit of Rs 745 crore for the April-June quarter, marking an 89% year-on-year (YoY) increase compared to Rs 394 crore in Q1 FY25.

This robust growth in earnings was supported by a 30% jump in revenue from operations, which rose to Rs 4,426 crore from Rs 3,408 crore in the same period last year.

Waaree Energies Share Price Post Q1 Earnings Announcement

As of 10:54 AM on July 29, Waaree Energies' share price was trading at Rs 3,252.30, up Rs 140.50 or 4.52% for the day. The stock opened at Rs 3,188.00 and touched an intraday high of Rs 3,291.00, while the low stood at Rs 3,158.00.

In the past 52 weeks, the stock has ranged between a high of Rs 3,743.00 and a low of Rs 1,863.00, reflecting significant volatility and investor interest.

Waaree Energies Q1 Results: Segment-wise Performance

Waaree Energies operates through three key business verticals including Solar Photovoltaic (PV) Modules, Engineering, Procurement & Construction (EPC), and Power Generation.

Solar PV Modules: This core segment continued to be the major revenue contributor. Revenue from this division grew to Rs 3,872 crore in Q1 FY26, compared to Rs 3,178 crore in Q1 FY25 and Rs 3,617 crore in the previous quarter (Q4 FY25), showing both annual and sequential growth.

EPC Segment: The EPC division also witnessed strong performance, with revenues increasing sharply to Rs 589 crore from Rs 226 crore in Q1 FY25. It also improved from Rs 465 crore in Q4 FY25, signaling growing execution capacity.

Power Generation: Revenue remained steady at Rs 11 crore year-on-year, slightly higher than Rs 8 crore reported in Q4 FY25.

Waaree Energies' Operation: Financials and Expense Breakdown

Total expenses for Q1 FY26 stood at Rs 3,654 crore, up from Rs 3,291 crore in Q4 FY25 and Rs 2,966 crore in Q1 FY25. The increase was driven by higher costs associated with raw materials, stock-in-trade, and employee benefits. Despite rising costs, the company managed to maintain profitability, with sequential profit growth of 20% compared to Rs 619 crore in the March quarter. Revenues also improved 11% quarter-on-quarter from Rs 4,004 crore.

Analyst Sentiment on Waaree Energies Stock: Do you Own?

While Waaree's Q1 performance was strong on both revenue and profit fronts, analysts remain cautious about the stock's valuation. According to data from Trendlyne, the average target price for Waaree Energies is Rs 2,607, indicating a possible downside of around 16% from current levels.

Among the four analysts covering the stock, the consensus rating is 'Sell', suggesting concerns about the stock being overvalued or future growth prospects slowing.

Despite the cautious analyst sentiment, Waaree Energies has delivered strong returns for investors. The stock is up over 9% year-to-date (YTD) and has surged about 49% in the last six months, reflecting investor optimism around India's clean energy transition and Waaree's leadership in the solar sector.

The company currently has a market capitalisation of approximately Rs 89,368 crore, underscoring its growing prominence in the renewable energy space.