Waaree Renewable Technologies Limited has published its audited financial results for the quarter and financial year ended March 31, 2026. The company submitted the mandatory newspaper advertisement to BSE Limited and National Stock Exchange of India Limited on April 18, 2026, fulfilling regulatory compliance requirements under Regulation 33.

Financial Performance Overview

The renewable energy company demonstrated strong financial performance across both quarterly and annual metrics. The results encompass both consolidated and standalone financial statements, providing comprehensive insights into the company's operational efficiency.

Standalone Results

The standalone financial results showed similar positive trends, with total income for Q4FY26 reaching ₹1,10,999.21 lakhs compared to ₹48,145.91 lakhs in Q4FY25. Net profit after tax for the quarter stood at ₹15,731.26 lakhs, significantly higher than ₹9,388.70 lakhs in the corresponding quarter of the previous year.

Capital Structure and Reserves

The company maintained a stable equity share capital of ₹2,086.92 lakhs as of March 31, 2026. Consolidated reserves, excluding revaluation reserves, stood at ₹91,295.60 lakhs for FY26, compared to ₹43,410.14 lakhs in the previous year. The standalone reserves reached ₹91,861.22 lakhs for FY26, up from ₹43,584.43 lakhs in FY25.

Regulatory Compliance

The financial results were published in compliance with regulatory requirements in two newspapers on April 18, 2026. The company, which operates as a subsidiary of Waaree Energies Limited, maintains its registered office at 504, Western Edge-1, Off Western Express Highway, Borivali (East), Mumbai. The results reflect the company's continued growth trajectory in the renewable energy sector, with substantial year-over-year improvements across key financial metrics.

Waaree Renewable Technologies Limited announced stellar Q4FY26 consolidated financial results, reporting net profit of ₹1.55 billion compared to ₹938 million in the corresponding quarter of the previous year, marking a significant 66.08% year-on-year growth. The company's revenue from operations surged to ₹11 billion from ₹4.76 billion in Q4FY25, representing substantial business expansion of 131.31%.

Q4FY26 Financial Performance

The renewable energy company delivered robust quarterly performance across key financial metrics, with EBITDA reaching ₹2.06 billion compared to ₹1.26 billion in the previous year, showing 63.71% growth. However, EBITDA margin compressed to 18.76% from 26.51% year-on-year, while PAT margin declined to 14.13% from 19.67%, reflecting operational challenges despite revenue growth.

Annual Performance FY26

For the full financial year FY26, Waaree Renewable Technologies maintained its growth trajectory with consolidated net profit reaching ₹478.65 crores, up 109.09% from ₹228.92 crores in FY25. Annual revenue from operations stood at ₹3,331.42 crores compared to ₹1,597.75 crores in the previous year, showing 108.51% growth. EBITDA for FY26 reached ₹641.10 crores versus ₹310.90 crores in FY25, representing 106.21% growth.

Board Meeting Outcomes and Corporate Governance

The Board of Directors meeting held on April 16, 2026, approved several key corporate governance decisions alongside the financial results. The board approved the appointment of M/s KC Mehta & Co. LLP, Chartered Accountants, as Internal Auditor for FY 2026-27. Additionally, the board approved the re-appointment of M/s KKC & Associates LLP, Chartered Accountants, as Statutory Auditors for five consecutive years from the 27th Annual General Meeting until the 32nd Annual General Meeting, subject to shareholder approval.

Earnings Conference Call and Investor Communication

Following the financial results announcement, the company conducted an earnings conference call with investors and shareholders on April 17, 2026. In compliance with Regulation 46 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the audio recording of the earnings call has been made available on the company's website for transparency and investor access.

Order Book and Business Outlook

Waaree Renewable Technologies maintains a strong unexecuted order book of 2.83 GWp slated for execution over the next 12-15 months, providing robust revenue visibility. The company's bidding pipeline continues to gain momentum, reaching over 36 GWp. Recent order wins include a 420 MWp ground mounted solar power project, a 35 MWp ground mounted solar power project, and a 14 MWp ground mounted solar power project.

Management Commentary and Market Position

CFO Manmohan Sharma highlighted the company's stellar performance, noting that India's renewable energy sector continues building strong momentum with total installed renewable capacity crossing 274 GW. Solar contributed over 150 GW as of March 2026, with solar additions rising sharply to over 44 GW in FY26 compared to approximately 24 GW in the previous year. Solar accounted for approximately 82% of total renewable capacity additions in FY26, establishing it as the primary driver of India's clean energy transition.

The EPC arm of the Waaree Group has expanded into Battery Energy Storage Systems and data centres, positioning itself among leading players in the solar EPC space with disciplined execution and operational efficiency focus.