FY26 EBITDA: ₹5,500–6,000 crore
Management reaffirmed full-year EBITDA guidance, expecting H2 benefits from cell integration (DCR segment), retail expansion, US operations ramp-up, and resolution of inventory build.
WAAREEENER / guidance tracker
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Waaree Energies · forward-looking guidance across the available source record.
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What management said would happen.
ebitda
FY27 heavy capex deployment
~50% of total ₹25,000+ crore capex to be spent in FY27; FY26 remaining two quarters will see ~10-15% spend. Heavy investment phase shifts to next fiscal year.
Cell capacity utilization to reach 80-85% in Q3
Cell production currently sub-15% utilization; a key operational event occurred enabling dramatic ramp. Expected to reach 80-85% effective nameplate utilization within Q3 itself.
Module capacity to reach 26.7 GW by FY26 year-end
Total module capacity of 18.7 GW currently; remaining expansion to be operationalized in FY26, targeting 26.7 GW by year-end.
Battery Manufacturing Operational Target
20 GWh advanced lithium-ion battery and pack manufacturing facility expected to be ready by FY28, with Rs 1,000 crore equity already raised for the project.
Inverter Facility Expansion
Phase 2 comprising 1 GW addition to inverter facility to be operational by FY27, complementing the 3 GW phase one already commissioned at Surroodi, Gujarat.
Electrolyzer Facility Timeline
1 GW electrolyzer facility for green hydrogen expected to be operationalized by FY27, backed by Rs 444 crore PLI scheme.
Transformer Capacity Expansion
Expanding transformer capacity to 20,000 MVA with planned capex of Rs 192 crore across distribution, inverter duty and extra high voltage transformers.