• EBITDA guidance: Full-year EBITDA exceeded previous guidance of 5,000 to 5,500 by reaching over 5,900, with guidance for the current financial year set at 7,000 to 7,700 as projects like batteries, ingot wafers, and solar cells come online.
• Margin outlook: Despite commodity inflation and rising shipping costs that pressured the previous quarter, the company expects to maintain EBITDA margins at around 20% after adjusting selling prices with customers.
• Vertical integration: Waaree is transitioning from a pure-play solar module maker to a diversified energy transition player, backward integrating into ingot wafers and investing in polysilicon.
• US operations and duties: US capacity is set to expand from 1.5 gigawatts to more than 4.5 gigawatts over the next six months, and management stated that US anti-dumping and countervailing duties have no impact on their panels.