Waaree Energies Targets Up To Rs 6,000-Crore Ebitda In FY26
On the margin, the CEO described the Q4 performance as sustainable, driven by stable selling, general and administrative costs.

Waaree Energies Ltd. has an Ebitda guidance of Rs 5,500 to Rs 6,000 crore for the current financial year, according to Chief Executive Officer Amit Paithankar.
The order book of the solar module manufacturer currently stands at Rs 47,000 crore and it has a pipeline of 100 GW globally, Paithankar told NDTV Profit.
"We have an Ebitda guidance of Rs 5,500 to 6,000 crore for FY26. The way we manage the business is with a razor-sharp focus on Ebitda," he said, exuding confidence that the company would deliver the Ebitda numbers.
"It is an important controllable parameter that we have in our hands. We have broken it down internally into detailed matrices for almost every CXO to go and chase," the CEO said.
He added that the company's "disciplined sales team" always ensures that the order book hovered around Rs 45,000 crore to Rs 50,000 crore.
Waaree Energies is expanding its manufacturing capabilities, with a 3.2 GW addition to module capacity. It will be supported by the company's debt-averse financial strategy and ability to raise capital efficiently. The CEO added that the company had the "financial muscle" to ensure all these projects are completed on time.
Paithankar said Q4 and FY25 were great for the company and added that the financial year was "almost a breakthrough year". He attributed this success to the demand fuelled by customers' trust, and the financial capability to put up factories and increase capital expenditure.
On the margin, he described the Q4 performance as sustainable, driven by stable selling, general, and administrative costs following recent leadership changes and factory expenses remaining in line with revenue. "Overall, costs are going to be very much where we want them to be," he said.
On the uncertainties created by the tariffs imposed by US President Donald Trump, he said Waaree Energies was well-positioned to adjust production to mitigate risks as it has manufacturing facilities in both the US and India.
"I don't think business as usual exists anymore anywhere in this world.... We are closely watching the moves around tariffs and modulating our response accordingly. We can dial up or dial down our production in the US and India as per requirement and ensure we deliver on our Ebitda guidance," he said.
The CEO added that the European market, which comprised a small share of Waaree Energies' business, has "huge potential", especially for flexible modules and niche products. "It is a very big market which we have to have an eye on."