Financial Results Summary

Waaree Renewable Technologies Limited reported unaudited consolidated financial results for the quarter ended June 30, 2026 (Q1 FY27).

Key Financial Performance (Consolidated)

| Particulars | Q1 FY27 (₹ Cr) | Q1 FY26 (₹ Cr) | YoY Change |

| Revenue from Operations | 924.25 | 603.19 | 53.23% |

| EBITDA | 173.48 | 117.55 | 47.58% |

| EBITDA Margin | 18.77% | 19.49% | |

| PAT | 118.97 | 86.40 | 37.70% |

| PAT Margin | 12.87% | 14.32% | |

Operational Highlights

Order Book Position:

  • Consolidated unexecuted order book: ₹5,300+ crores
  • Strong bidding pipeline:
  • Solar: 37 GWp+
  • Battery Energy Storage Systems (BESS): 10 GWh+
  • Transmission & Distribution (T&D): ₹20,000+ crores

Recent Order Wins:

  • 1,520 MWh BESS order
  • 450 MWp ground-mounted solar power project

Strategic Developments

Acquisition:

  • Acquired 55% equity stake in Associated Power Structures Pvt. Ltd. (APSPL)
  • This acquisition strengthens the company's presence in the transmission and distribution (T&D) space

Business Expansion:

  • Company is actively pursuing EPC opportunities in:
  • Battery Energy Storage Systems (BESS)
  • Data Centre infrastructure
  • Expanding capabilities across adjacent segments of the clean energy value chain

Management Commentary

Mr. Manmohan Sharma, CFO, commented on the results:

  • Acknowledged global challenges including geopolitical tensions, tariff uncertainties, supply chain adjustments, and regional conflicts
  • Q1 FY27 performance driven by steady execution across EPC portfolio, efficient resource deployment, and disciplined project delivery
  • India's installed renewable energy capacity stood at over 288 GW as of June 2026, with solar capacity crossing 162 GW
  • India targeting 500 GW of non-fossil fuel capacity by 2030, providing strong pipeline for utility-scale renewable development
  • BESS EPC and hybrid renewables represent emerging growth opportunities supported by rising demand for grid stability
  • Acquisition of APSPL strengthens T&D capabilities, enabling integrated solutions
  • Backed by healthy unexecuted order book of ₹5,300+ crores
  • Expanding O&M capabilities support sustained growth
  • Company remains confident in long-term growth strategy with focus on disciplined execution and operational excellence

Company Background

Waaree Renewable Technologies Limited is a subsidiary of Waaree Energies Limited and spearheads the Solar EPC business. The company:

  • Operates as a solar developer that finances, constructs, owns, and operates solar projects
  • Headquartered in Mumbai
  • Operates across geographies focusing on long-term investments within commercial and industrial customer segments
  • Provides clean energy through on-site solar projects (rooftop and ground-mounted) and off-site solar farms (open access solar plants)
  • Part of Waaree Group, a leading renewable energy company

Investor Relations Contacts

  • Mr. Neeraj Vinayak (Vice President – Investor Relations)
  • Mr. Rohit Wade (General Manager – Investor Relations)
  • Mr. Nikunj Jain
  • Mr. Prathmesh Parab