On April 30, 2026, Waaree Energies Ltd experienced a significant decline in its share price, dropping over 10% to an intraday low of ₹3,132.10 on the National Stock Exchange (NSE). This decline followed the company's Q4 FY26 earnings report, where despite a 74.76% increase in net profit to ₹1,126.26 crore and a 111.80% rise in revenue to ₹8,840.25 crore, EBITDA margins fell to 18.59%, disappointing investors. The total EBITDA for FY26 was reported at ₹6,616.79 crore, surpassing the company's guidance of ₹5,500 crore to ₹6,000 crore. The board also declared a final dividend of ₹2 per share, bringing the total for the year to ₹4. Looking ahead, Waaree Energies has ambitious plans, including a ₹3,900 crore capital expenditure for a new glass manufacturing plant and a ₹6,200 crore investment in a 10 GW integrated ingot and wafer facility in Nagpur. The company remains optimistic about its growth trajectory, projecting an Operating EBITDA of ₹7,000 - 7,700 crore for FY27, emphasizing the importance of balancing growth with profitability metrics for future stock performance.