Waaree Energies Limited , India's leading solar module manufacturer, has announced impressive financial results for the fourth quarter and full fiscal year 2025, showcasing robust growth and operational excellence in the rapidly expanding renewable energy sector.

Q4 FY25 Highlights

Waaree Energies reported a consolidated revenue of ₹4,003.90 crore for Q4 FY25, marking a significant 36.40% year-on-year increase. The company's EBITDA for the quarter doubled to ₹922.60 crore, with an EBITDA margin improving to 23.00%. Net profit for Q4 saw an exceptional growth of 34.10%, reaching ₹618.90 crore.

Key Financial Metrics

Operational Achievements

The company's strong financial performance was underpinned by significant operational milestones:

• Production capacity increased to 7.13 GW in FY25, up from 4.77 GW in FY24
• Operationalized India's largest cell manufacturing facility with a 5.40 GW capacity in Gujarat
• Successfully launched a 1.60 GW module manufacturing facility in Brookshire, Texas, USA

Strategic Developments

Waaree Energies has made several strategic moves to strengthen its position in the renewable energy market:

• Entered into an agreement to acquire 100% of Enel Green Power India Private Limited, expanding its presence in solar and wind projects
• Approved the establishment of an additional 1.60 GW module manufacturing line in Texas, USA
• Plans to set up 3.20 GW of additional module manufacturing capacity near Pune, India

Management Commentary

The management of Waaree Energies expressed satisfaction with the company's performance, highlighting the strength of their execution capabilities and the quality of their order book. They emphasized the company's focus on both backward and forward integration, as reflected in their expansion and investment plans.

Future Outlook

Looking ahead, Waaree Energies remains optimistic about its growth prospects. The company's strategic capacity additions in Texas and near Pune demonstrate its commitment to expanding its manufacturing capabilities and meeting the growing global demand for solar energy solutions.

Stock Performance and Lock-in Period

The strong Q4 results have had a positive impact on Waaree Energies' stock performance. Additionally, investors should note that the company's six-month shareholder lock-in period is set to end on April 25. This development will result in 53% of the outstanding equity becoming eligible for trading, which could potentially impact stock liquidity and price movements in the near term.

As Waaree Energies continues to expand its manufacturing capabilities and diversify its renewable energy portfolio, it is well-positioned to capitalize on the growing global demand for solar energy solutions and play a significant role in the ongoing energy transition.

Waaree Energies Limited , India's leading solar module manufacturer, has reported a stellar performance for the fourth quarter of fiscal year 2025, significantly surpassing analyst expectations and showcasing robust growth across key financial metrics.

Financial Highlights

Waaree Energies has announced its Q4 financial results, showing significant year-over-year growth:

• Revenue from operations increased by 36.4% to ₹4,003.93 crore, up from ₹2,935.84 crore in Q4 FY24.
• Consolidated net profit for Q4 FY25 skyrocketed by 254.52% year-over-year to ₹648.49 crore, compared to ₹182.92 crore in the same quarter last year.
• Total income, including other income, reached ₹4,140.92 crore, marking a 37.69% rise from the previous year.

Operational Performance

Waaree Energies showcased significant improvement in its operational metrics:

• EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) more than doubled, surging by 116.27% to ₹1,059.57 crore, compared to ₹489.94 crore in Q4 FY24.
• The EBITDA margin expanded impressively to 25.59% from 16.29% year-over-year, indicating enhanced operational efficiency.
• Production volume increased to 2.06 GW in Q4 FY25, up from 1.35 GW in the same quarter last year, reflecting the company's expanded manufacturing capabilities.

Annual Performance

For the full fiscal year 2025, Waaree Energies continued its growth trajectory:

• Annual consolidated revenue grew by 27.62% to ₹14,444.50 crore.
• Net profit for FY25 more than doubled, increasing by 107.08% to ₹1,932.15 crore.
• The company achieved a production volume of 7.13 GW in FY25, compared to 4.77 GW in FY24.

Strategic Developments

Waaree Energies has made significant strides in expanding its manufacturing footprint:

• The Board of Directors approved the establishment of an additional 1.6 GW module manufacturing line at the company's facility in Brookshire, Texas, USA.
• Plans are underway to set up additional module manufacturing lines with a capacity of 3.2 GW at the Chikhli plant in India.
• The company operationalized India's largest cell manufacturing facility with a 5.4 GW capacity in Gujarat.

Market Position and Future Outlook

With an order book of approximately ₹47,000 crore and a 14.1% share in India's module shipments, Waaree Energies is well-positioned for continued growth. The company has provided a strong EBITDA outlook of ₹5,500 crore to ₹6,000 crore for FY26, reflecting confidence in its future performance.

Dr. Amit Paithankar, Whole Time Director & CEO of Waaree Energies Ltd, commented on the results: "FY25 marks a pivotal inflection point in Waaree's journey - a year where our strategy, scale, and execution converged to deliver industry-leading EBITDA performance. We see encouraging demand trends, which bodes well for future growth."

As Waaree Energies continues to strengthen its position in the renewable energy sector, the company's focus on both backward and forward integration, coupled with its expansion plans, sets a solid foundation for sustained growth in the coming years.

Financial Table

With its strong financial performance and strategic initiatives, Waaree Energies Limited continues to solidify its position as a leader in India's renewable energy sector, poised for further growth and expansion in the global market.