Waaree Renewable Technologies Posts Record Q2 Profit at ₹116.34 Crore; Revenue Up 47.7% YoY

Mumbai, October 13: Waaree Renewable Technologies Limited has announced that it has reported its highest-ever quarterly revenue and profit for the quarter ended September 30. This growth was driven by the efficient execution of solar EPC projects and the expansion of new energy segments.

Waaree Renewable Technologies Ltd (WRTL) is an Indian company that operates as a solar Engineering, Procurement, and Construction (EPC) company. It was established in 1999 and is headquartered in Mumbai, Maharashtra. At the market start today, Waaree Renewable Technologies Limited’s share price was up by 1.59%, or 53.10 points, and was trading at ₹3,386.50.

Revenue At ₹774.78 Crore While PAT At ₹116.34 Crore

For the second quarter ending in FY26, the company’s Revenue from Operations increased by 47.73% to ₹774.78 crore from ₹524.47 crore in the same quarter last year. The EBITDA more than doubled by 120.69% to reach ₹157.94 crore, with the EBITDA margin increasing to 20.39% from 13.85%. Consequently, the Profit After Tax (PAT) jumped by 117.40% to ₹116.34 crore, up from ₹53.52 crore year-on-year.

The total revenue for the six-month period rose by 81.12% to ₹1,377.97 crore compared to ₹760.82 crore in the previous year. The EBITDA for H1 grew by 144.56% to ₹275.48 crore, and the Profit After Tax (PAT) saw an increase of 148.21%, reaching ₹202.73 crore.

Unexecuted EPC Backlog of 3.48 GWp

The company has a strong order book with an unexecuted EPC backlog of 3.48 GWp. This is expected to be completed in the next 12 to 15 months. It also has a healthy bidding pipeline of over 27 GWp, showing steady demand in India’s renewable energy sector. Recently, the company won two major ground-mounted solar power projects – one of 1,218 MWp and another of 29.4 MWp in Q2 FY26. Further, it has approved new capex for solar power plants, including two 14 MWp IPP projects in Maharashtra and a 37.5 MWp IPP project in Bikaner, Rajasthan.

Highest Ever Quarterly Revenue

Commenting on the results, Manmohan Sharma, CFO, said: “We are pleased to report our highest-ever quarterly revenue of ₹774.78 crore in Q2 FY26, a 47.7% year-on-year rise. The growth is a reflection of our strong execution capabilities and the positive momentum in India’s renewable energy sector. With a robust order book and expanding capabilities, we are well-positioned to lead large-scale integrated energy projects across the solar EPC landscape.”

Renewable Energy Capacity At 256.1 GW

India’s renewable energy capacity reached 256.1 GW in September 2025, a big step toward the 2030 goal of 500 GW. Solar energy made up 127.33 GW, showing how important it has become in the clean energy space. Waaree has a strong presence in solar EPC, battery storage, and data centre integration, putting it in a leading position in India’s move toward clean and connected energy solutions.

REF: https://www.bseindia.com/xml-data/corpfiling/AttachHis/e72bc766-c7de-4289-b075-680c2ab38fad.pdf

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