Archive · 31 Jul 2026
Waaree Eyes 50‑60% Export Growth by FY28
Waaree Energies is a solar company that wants to sell a lot more of its products abroad by the year 2028.
It hopes to add 1 to 2 gigawatts of sales in Europe and other places.
The company is also building a bigger factory in the United States to make more solar panels.
A recent audit said it does not use Chinese solar cells in its U.S. products.
In the first quarter of 2027, the company made more money and sold more panels, but its profit margin went down a bit.
Waaree Energies aims for 50‑60 % export growth by FY28, targeting 1‑2 GW more from Europe and Central Asia.
The company is bidding for large orders in Italy, France, Saudi Arabia, Oman, Bahrain, UAE, Australia, and New Zealand, with projects worth Rs 4,000‑5,000 crore each in the Middle East.
Waaree plans to expand its U.S. manufacturing from 1.6 GW to 4.2 GW, supplying most U.S. offtake from the new facility while still exporting from India.
A five‑year U.S. customs audit found no use of Chinese cells in Waaree’s U.S. products, and the company’s new 10‑GW cell plant in India is expected to boost margins.
Q1FY27 revenue rose 79 % to ₹7,931 cr and profit after tax up 15 % to ₹891 cr, though EBITDA margin fell to 18.15 % from 33.53 % a year earlier.
- Who
- Waaree Energies and CFO Abhishek Pareek
- What
- Announced plans to boost exports and expand manufacturing
- When
- FY28 target; Q1FY27 results
- Where
- Europe, Middle East, US, India
- Why
- To capture growing solar markets and improve margins
- Target export growth FY28
- 50‑60%
- Current annual exports
- 2‑3 GW
- US facility expansion
- 1.6 GW to 4.2 GW
- Q1FY27 revenue
- ₹7,931 crore
- Q1FY27 profit after tax
- ₹891 crore
- EBITDA margin Q1FY27
- 18.15%