Waaree Renewable Technologies Ltd, a leading player in solar EPC solutions, posted robust financial results for Q2 FY26, driven by strong project execution and operational efficiency.
Quarterly Performance Highlights
- Revenue: ₹774.78 crore, up 47.73% YoY from ₹524.47 crore in Q2 FY25
- EBITDA: ₹157.94 crore, a 120.69% YoY increase
- PAT: ₹116.34 crore, up 117.40% YoY
The results reflect strong cost management and an expanding project portfolio, positioning the company as a frontrunner in India’s solar EPC market.
H1 FY26 Growth Momentum
For the half-year ended September 30, 2025:
- Revenue: ₹1,377.97 crore (+81.12% YoY)
- EBITDA: ₹275.48 crore (+144.56% YoY)
- PAT: ₹202.73 crore (+148.21% YoY)
The half-year performance underscores Waaree’s sustained growth trajectory and operational scalability.
Order Book and Strategic Expansion
Waaree’s unexecuted order book stands at 3.48 GWp, expected to be completed over the next 12–15 months. The bidding pipeline exceeds 27 GWp, with recent wins including 1,218 MWp and 29.4 MWp ground-mounted solar projects.
The Board has approved new solar IPP plants:
- 28 MWp in Maharashtra
- 37.5 MWp in Bikaner, Rajasthan
These initiatives strengthen the company’s renewable energy footprint and capacity for large-scale integrated projects.
CFO Comment
Mr. Manmohan Sharma, CFO, said, “India’s renewable energy momentum is accelerating, with installed capacity reaching 256.1 GW as of September 2025. Solar energy now accounts for 127.33 GW, highlighting its pivotal role in achieving the nation’s clean energy targets. With a strong order book of 3.48 GWp, Waaree is strategically positioned to execute large-scale projects and deliver value across the lifecycle, from design to O&M.”
This report underscores Waaree Renewable Technologies’ leadership in India’s solar EPC sector and its role in advancing the country’s clean energy transition.
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