Waaree Renewable Technologies Limited , a leading player in the solar EPC space, has reported exceptional financial results for the first quarter of fiscal year 2026, showcasing robust growth across key metrics.

Financial Highlights

• Revenue surged by 155.20% year-over-year to Rs 603.19 crore, compared to Rs 236.35 crore in Q1 FY2025.
• EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) witnessed a significant jump of 186.14% to Rs 117.54 crore, up from Rs 41.08 crore in the same quarter last year.
• Net profit registered an impressive growth of 206.77%, reaching Rs 86.39 crore, compared to Rs 28.16 crore in Q1 FY2025.
• The company maintained a healthy EBITDA margin of 19.49% and a net profit margin of 14.32%.

Operational Performance

Waaree Renewable Technologies has demonstrated strong execution capabilities, with its unexecuted order book standing at 3.15 GWp, expected to be completed within the next 12 to 15 months. This robust order book provides visibility for sustained growth in the coming quarters.

Segment-wise Performance

The company's performance was driven by strong growth in both its key segments:

Management Commentary

Mr. Manmohan Sharma, CFO of Waaree Renewable Technologies Limited, expressed satisfaction with the company's performance, stating, "We are pleased to report revenue of ₹603.19 crores for Q1 FY26, compared to ₹236.35 crores in Q1 FY25, delivering a robust growth of 155.20%. This performance reflects the strength of our business model, our disciplined operational approach, and our ability to execute large-scale projects efficiently in a rapidly evolving clean energy landscape."

Industry Outlook

The company's growth aligns with the broader trends in India's renewable energy sector. As of June 2025, India's total renewable energy capacity stood at 234 GW, with solar contributing 116.25 GW. In the first half of CY2025, solar installations grew by 51.6% year-on-year, underscoring the sector's accelerating momentum.

Strategic Initiatives

Waaree Renewable Technologies has expanded its portfolio to include Battery Energy Storage System (BESS) EPC solutions, positioning itself as a full-spectrum clean energy provider. With a strong order book of 3.15 GWp in Solar EPC and 40 MWh in BESS EPC, the company is well-equipped to deliver next-generation, large-scale integrated energy projects.

Future Outlook

The company remains optimistic about its future prospects, leveraging its strong order book and expanded capabilities in the renewable energy sector. With a focus on innovation and sustainability, Waaree Renewable Technologies is well-positioned to capitalize on India's growing clean energy market and deliver long-term value to its stakeholders.

As India progresses towards its clean energy goals, having achieved 50% of its total installed power capacity from non-fossil fuels five years ahead of schedule, companies like Waaree Renewable Technologies are poised to play a crucial role in the country's energy transition journey.

Waaree Renewable Technologies Limited (WRTL), a leading player in the solar EPC space, has announced a significant unexecuted order book of 3.15 GWp. The company expects to complete these orders within the next 12 to 15 months, showcasing a strong pipeline of projects and potential for substantial revenue growth in the coming year.

Financial Performance Highlights

WRTL's financial results for the quarter ended June 30, 2023, demonstrate impressive growth across key metrics:

The company's revenue for Q1 FY24 stood at Rs. 603.19 crores, representing a remarkable year-on-year growth of 155.20%. EBITDA saw an even more substantial increase, rising by 186.14% to Rs. 117.54 crores. Profit After Tax (PAT) showed the most significant improvement, with a 206.77% year-on-year growth to Rs. 86.39 crores.

Order Book and Market Position

The announcement of a 3.15 GWp unexecuted order book underscores WRTL's strong market position and ability to secure large-scale projects. This substantial backlog not only provides visibility for future revenue but also reflects the growing demand for solar EPC services in India's rapidly expanding renewable energy sector.

Expansion into New Segments

In response to the evolving energy landscape, WRTL has broadened its portfolio to include Battery Energy Storage System (BESS) EPC solutions. This strategic move positions the company as a full-spectrum clean energy provider, capable of delivering integrated energy projects.

Management Commentary

Mr. Manmohan Sharma, CFO of Waaree Renewable Technologies Limited, commented on the results: "We are pleased to report revenue of ₹603.19 crores for Q1 FY24, compared to ₹236.35 crores in Q1 FY23, delivering a robust growth of 155.20%. This performance reflects the strength of our business model, our disciplined operational approach, and our ability to execute large-scale projects efficiently in a rapidly evolving clean energy landscape."

Industry Outlook

The company's growth aligns with India's ambitious clean energy roadmap. As of June 2023, India's total renewable energy capacity stood at 234 GW, with solar contributing 116.25 GW. In the first half of CY2023, solar installations grew by 51.6% year-on-year, underscoring the sector's accelerating momentum.

Conclusion

Waaree Renewable Technologies Limited's strong order book and financial performance indicate a positive outlook for the company. As India continues to push towards its clean energy goals, WRTL appears well-positioned to capitalize on the growing demand for solar EPC services and integrated energy solutions.