Waaree Energies Shares Decline Post 10% Rally On Q3 Euphoria; Perfect Buy-the-Dip Moment? Check Target Price

Waaree Energies Share Price Today: Shares of Waaree Energies slipped around 2% during Friday's intraday trade after rallying nearly 10% in the previous session. The massive rally in its shares came after the company's strong third quarter results for financial year 2025-26.
Waaree Energies shares were trading 0.58% lower at Rs 2624.9 per share on BSE at 11 am, after recovering from an intraday low of Rs 2586.70 per share. The stock was down around 1.8% in the early hours of Friday's trading session. Waaree Energies shares closed around 10% higher on Thursday.

Waaree Energies Share Price Recommendation

Waaree Energies reported a strong quarterly performance in Q3FY26 driven by higher-than-anticipated EBITDA margin of 25%. The margin outperformance indicated the company's improving operational efficiency and a favourable product mix, noted Motilal Oswal in its report released on Friday, January 23. Motilal Oswal maintained its 'Buy' recommendation for the stock.

Waaree Energies Target Price

Waaree ENergies target price was fixed at Rs 3,514 per share. Based on the sum-of-the-parts (SoTP) methodology, as per Motilal Oswal report. "The domestic module business is valued at 13x FY28E EBITDA. The US module business is valued at 12x FY28E EBITDA, which is in line with global peers. The new business segment, valued at 10x FY28E EBITDA, is consistent with domestic peer valuations. The sum of these segment valuations (adjusting for net debt) results in a TP of INR3,514/share," noted the brokerage in its report.

Waaree Energies Q3 Result Recap

Waaree Energies has posted a strong December quarter, as consolidated net profit more than doubled.The company's net profit (attributable to shareholders of the company) stood at Rs 1,062 46 crore, up 115% from Rs 492 69 crore reported in the year-ago period.

The company linked this performance to higher sales from solar modules and engineering, procurement, and construction activities. Total income for the quarter also increased sharply, according to Wednesday's exchange filing. It rose to Rs 7,761.23 crore, versus Rs 3,545.27 crore in the same October-December period of the 2024-25 fiscal. The company said both its main businesses contributed to this higher income.

Solar photovoltaic module operations remained the largest revenue driver for Waaree Energies during the December quarter. Revenue from this business reached Rs 6,989.56 crore, compared with Rs 3,109.29 crore in the year-ago period. Engineering, procurement, and construction contracts also showed strong growth, with revenue rising to Rs 838.21 crore from Rs 351.16 crore in Q3 FY25.

Disclaimer:The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.