Waaree Energies , India's leading renewable energy company, has announced impressive financial results for the fourth quarter of fiscal year 2025, alongside an optimistic EBITDA outlook for FY26.

Q4 FY25 Financial Highlights

The company reported substantial year-on-year growth in its Q4 FY25 results:

*Excluding exceptional items

FY25 Annual Performance

For the full fiscal year 2025, Waaree Energies demonstrated strong growth across key financial metrics:

*Excluding exceptional items

FY26 EBITDA Outlook

The CEO of Waaree Energies has provided a positive EBITDA outlook for FY26, projecting figures between ₹5,500 crore to ₹6,000 crore. This forecast represents a substantial increase from the FY25 EBITDA of ₹3,123.20 crore, indicating the company's confidence in its growth trajectory and operational efficiency.

Operational Highlights

• Production capacity increased to 2.06 GW in Q4 FY25, up from 1.35 GW in Q4 FY24.
• The company's order book stands at 25 GW, valued at approximately ₹47,000 crore.
• Waaree Energies operationalized India's largest cell facility with a 5.4 GW capacity in Gujarat.

Strategic Developments

The company has made several strategic moves to strengthen its market position:

1. Expansion of module manufacturing capacity:

   • Additional 1.6 GW line at the Brookshire, Texas facility in the USA.
   • New 3.2 GW capacity at the Chikhli plant in India.

2. Credit rating upgrade to CARE A+ stable, reflecting improved financial strength.

3. Successful completion of an Initial Public Offer (IPO) in October 2024, raising ₹3,600 crore through a fresh issue of shares.

Management Commentary

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 of ₹3,123.20 crore. This performance underscores the strength of our execution capabilities and the quality of order book, with centered focus on margins."

He further added, "We see encouraging demand trends, which bodes well for future growth. Waaree is focused on both backward and forward integration, reflected in our expansion and investment plans including cell, ingot and wafer manufacturing, battery energy storage system, power infrastructure and inverters."

With its strong financial performance, strategic expansions, and positive outlook, Waaree Energies appears well-positioned to capitalize on the growing renewable energy market and drive sustainable growth in the coming years.

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.