Waaree Energies Reports Record Revenue and Profit in Q1 FY27 Waaree Energies, a leading Indian solar module manufacturer, announced its financial results for the first quarter of fiscal year 2027 (Q1 FY27), ending June 2026. The company reported a significant surge in revenue, with operations generating Rs. 7,931.79 crore during the quarter. This marks a year-on-year (YoY) increase of 79.22% compared to Rs. 4,425.83 crore in the same period last year. However, the revenue declined by 6.47% on a quarter-on-quarter (QoQ) basis from Rs. 8,480.25 crore recorded in the March 2026 quarter. Net profit for the quarter stood at Rs. 891.87 crore, reflecting a 15.39% YoY growth from Rs. 772.89 crore in Q1 FY26. Despite this increase, the net profit dropped by 20.81% QoQ from Rs. 1,126.26 crore in the previous quarter. The company’s operating EBITDA for the quarter reached Rs. 1,439.92 crore, a 44.38% YoY rise, with margins at 18.15%. Additionally, Waaree added new orders worth Rs. 16,000 crore, bringing its total order book to Rs. 61.5,000 crore. The financial results highlighted mixed performance, with the company attributing its earnings to factors beyond its core operations. Waaree noted that the U.S. Supreme Court’s ruling on reciprocal duties imposed on exporters significantly impacted its financials. Based on refunds accepted by U.S. Customs and Border Protection (CBP), the company recognized Rs. 349.28 crore as other operating revenue related to the refund of reciprocal duties under the International Emergency Economic Powers Act (IEEPA) tariffs. It also recorded a reduction in the cost of assets and inventory worth Rs. 25.13 crore. Exports from India to the U.S. declined sharply from Rs. 1,034 crore to Rs. 287 crore during the quarter. However, domestic U.#us_supreme_court #customs_and_border_protection #waaree_energies #jignesh_rathod #international_emergency_economic_powers_act
