Suzlon Energy vs Waaree Energies: Which Stock Should You Track
- July 29, 2026
- Posted by: Ankit Jaiswal
- Category: News
Suzlon Energy vs Waaree Energies: India’s leading wind turbine manufacturer vs India’s largest solar module manufacturer and the largest non-Chinese module maker globally. Suzlon Energy sector: Ren…
Suzlon Energy vs Waaree Energies is a comparison investors search for because the two companies represent genuinely different positions within Renewable Energy. This Suzlon Energy vs Waaree Energies breakdown goes beyond generic labels and looks at real numbers: reach, products, the latest results each company has declared, and how each stock is positioned today. Understanding Suzlon Energy vs Waaree Energies this way is more useful than a surface-level label, because it shows where each company actually stands rather than how it describes itself.
Suzlon Energy vs Waaree Energies: Reach and Market Position
In the Suzlon Energy vs Waaree Energies comparison, Suzlon Energy stands out for India’s leading wind turbine manufacturer, benefiting from renewed domestic wind demand under India’s ALMM domestic-sourcing rules. This scale gives Suzlon Energy a distinct position within Renewable Energy that shapes how it competes.
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Waaree Energies, on the other hand, is built around India’s largest solar module manufacturer and the largest non-Chinese module maker in the world, with 12.6 GW of module manufacturing capacity. Comparing Suzlon Energy vs Waaree Energies on reach alone shows two different growth strategies, not a single verdict.
Suzlon Energy vs Waaree Energies: Key Products and Business Mix
Suzlon Energy’s business runs on wind turbine generators (including the next-generation S175 turbine), wind project EPC, and long-term operations and maintenance services. This product mix is central to any Suzlon Energy vs Waaree Energies comparison, since it explains where each company’s revenue actually comes from.
Waaree Energies instead leans on solar PV modules, EPC services, rooftop solar systems, and an expanding cell and ingot-wafer manufacturing chain. The Suzlon Energy vs Waaree Energies product comparison shows these are genuinely different businesses, not just different brand names in the same category.
Suzlon Energy vs Waaree Energies: Latest Results
Looking at real numbers rather than claims, Suzlon Energy’s latest disclosed results show Q1 FY26 (year-ago base) consolidated net profit of Rs 324.32 crore, up 7.28% YoY, on revenue of Rs 3,117.33 crore; Q4 FY26 profit rose multi-fold to Rs 1,180.98 crore on 73% revenue growth to Rs 3,773.54 crore; Q1 FY27 results were not yet declared at the time of writing. This is the clearest evidence available for the Suzlon Energy vs Waaree Energies comparison on Suzlon Energy’s side.
Waaree Energies’s latest disclosed results show FY26 revenue of Rs 26,537 crore, up 84% YoY, with profit more than doubling to Rs 3,884 crore, up 101%; order book stood at around Rs 53,000 crore; Q4 FY26 profit alone rose 71.4% YoY to Rs 1,061.10 crore. Weighing Suzlon Energy vs Waaree Energies on actual results, rather than headline positioning, is what separates a useful comparison from a generic one.
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Suzlon Energy vs Waaree Energies: Stock and Valuation
On the market side, Suzlon Energy is described as: Analyst target prices in the Rs 64-75 range as of recent broker notes. Waaree Energies is described as: Market cap around Rs 78,857 crore, down 11.9% over the past year. The Suzlon Energy vs Waaree Energies valuation gap often reflects how the market is pricing each company’s growth and risk profile differently.
Suzlon Energy vs Waaree Energies: Quick Comparison Table
| Parameter | Suzlon Energy | Waaree Energies |
|---|---|---|
| Sector | Renewable Energy | Renewable Energy |
| Market position | India’s leading wind turbine manufacturer | India’s largest solar module manufacturer and the largest non-Chinese module maker globally |
| Reach | India’s leading wind turbine manufacturer, benefiting from renewed domestic wind demand un | India’s largest solar module manufacturer and the largest non-Chinese module maker in the |
| Latest results | Q1 FY26 (year-ago base) consolidated net profit of Rs 324.32 crore, up 7.28% YoY, on revenue of Rs 3 | FY26 revenue of Rs 26,537 crore, up 84% YoY, with profit more than doubling to Rs 3,884 crore, up 10 |
Conclusion
Suzlon Energy vs Waaree Energies ultimately comes down to two companies solving similar problems in different ways. Suzlon Energy brings India’s leading wind turbine manufacturer, while Waaree Energies brings India’s largest solar module manufacturer and the largest non-Chinese module maker globally. Investors weighing Suzlon Energy vs Waaree Energies should track both companies’ upcoming results and valuation gap rather than picking a side on reputation alone. This Suzlon Energy vs Waaree Energies breakdown is a starting point, not a final verdict.
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Disclaimer: Data and figures in this article are sourced from publicly available information, including company results filings and exchange data, and are current as of the time of writing. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is the main difference between Suzlon Energy and Waaree Energies?
Ans. The main difference in the Suzlon Energy vs Waaree Energies comparison lies in scale and business mix. Suzlon Energy is built on India’s leading wind turbine manufacturer, while Waaree Energies is positioned around India’s largest solar module manufacturer and the largest non-Chinese module maker globally.
How do Suzlon Energy and Waaree Energies’s latest results compare?
Ans. Comparing Suzlon Energy vs Waaree Energies on latest disclosed results: Suzlon Energy reported Q1 FY26 (year-ago base) consolidated net profit of Rs 324.32 crore, up 7.28% YoY, on revenue of Rs 3,117.33 crore; Q4 FY26 profit rose multi, while Waaree Energies reported FY26 revenue of Rs 26,537 crore, up 84% YoY, with profit more than doubling to Rs 3,884 crore, up 101%; order book stood at around Rs 53,000.
What sector do Suzlon Energy and Waaree Energies operate in?
Ans. Suzlon Energy operates in Renewable Energy and Waaree Energies operates in Renewable Energy. Even where the sectors overlap, the Suzlon Energy vs Waaree Energies comparison shows different product mixes and market positions.
Should I invest in Suzlon Energy or Waaree Energies?
Ans. Both Suzlon Energy and Waaree Energies have distinct strengths within their space. Investors comparing Suzlon Energy vs Waaree Energies should review the latest quarterly results, valuation and their own risk profile, and consult a financial advisor before deciding.
What are the key products of Suzlon Energy?
Ans. Suzlon Energy’s key products and business lines include wind turbine generators (including the next-generation S175 turbine), wind project EPC, and long-term operations and maintenance services.
What are the key products of Waaree Energies?
Ans. Waaree Energies’s key products and business lines include solar PV modules, EPC services, rooftop solar systems, and an expanding cell and ingot-wafer manufacturing chain.
How do Suzlon Energy and Waaree Energies compare on market position?
Ans. On market position, Suzlon Energy holds India’s leading wind turbine manufacturer, while Waaree Energies holds India’s largest solar module manufacturer and the largest non-Chinese module maker globally. The Suzlon Energy vs Waaree Energies comparison shows both companies lead in different ways rather than one being universally ahead.
