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India's Solar Surge: Companies Shine Bright
9 Jun
Summary
- Solar capacity in India surged 53-fold from 2.82 GW in March 2014 to 150.26 GW by March 2026.
- Waaree Renewables saw revenue jump 108.5% to Rs 3,331.4 crore in FY26.
- Emmvee Photovoltaic's revenue increased 116% YoY to Rs 5,049 crore in FY26.
Solar power is a cornerstone of the global energy transition, with India rapidly expanding its capacity. From a mere 2.82 GW in March 2014, India's solar capacity reached an impressive 150.26 GW by March 2026, a 53-fold increase. This significant growth is now translating into tangible financial results for companies in the sector.
Waaree Renewables Technologies reported a substantial 108.5% revenue growth to Rs 3,331.4 crore in FY26, with net profit rising 109.1% to Rs 478.6 crore. The company is leveraging its strong execution capabilities and a robust order book.
Similarly, Emmvee Photovoltaic Power experienced a remarkable 116% year-on-year revenue increase to Rs 5,049 crore in FY26, alongside a 193% net profit jump to Rs 1,082 crore. Their focus is on expanding manufacturing capacity and converting a large order book into sales.
Premier Energies also demonstrated strong performance, with revenues rising 20.7% to Rs 8,026 crore in FY26 and net profit increasing 61.1% to Rs 1,510 crore. The company is investing heavily in capacity expansion across the value chain.
The article highlights that while the solar sector offers immense potential, successful companies will be those that excel in execution, manage cash flow effectively, and grow without excessive balance-sheet risk.
