Waaree Renewable Technologies Limited – Investor Presentation Summary

Key Operational Highlights

  • Developed 82.82 MWp solar power generating assets (IPP Assets)
  • Maintains O&M portfolio for both own customers and third-party projects
  • Vertically integrated operations across inverter, transformer, green hydrogen/electrolyser, and BESS solutions
  • Key drivers include integrated renewable energy ecosystem, manufacturing-led margin advantage, and full-spectrum EPC platform

Segment-wise Performance

Not Specified

Financial Highlights

Revenue: Rs. 924.25 Cr (Q1FY27)

EBITDA: Rs. 173.48 Cr (Q1FY27)

PAT: Rs. 118.97 Cr (Q1FY27)

EBITDA Margin: 18.77% (Q1FY27)

PAT Margin: 12.87% (Q1FY27)

YoY/QoQ comparison: Q1FY27 revenue increased 53.23% from Q1FY26 revenue of Rs. 603.19 Cr

Q1FY27 EBITDA increased 47.58% from Q1FY26 EBITDA of Rs. 117.55 Cr

Q1FY27 PAT increased 37.70% from Q1FY26 PAT of Rs. 86.40 Cr

FY26 Revenue: Rs. 3,331.42 Cr

FY26 EBITDA: Rs. 641.10 Cr

FY26 PAT: Rs. 478.65 Cr

FY26 EBITDA Margin: 19.24%

FY26 PAT Margin: 14.37%

Drivers of financial performance: Strong revenue growth, integrated operations, and expanding order book

FY23-26 Revenue CAGR: 111.73%

Geographical Revenue Split

Not Specified

Balance Sheet Snapshot

Net Worth: Rs. 933.83 Cr (FY26)

Cash & Cash Equivalents: Rs. 94.66 Cr (FY26)

Fixed Assets: Rs. 450.09 Cr (FY26)

Current Assets: Rs. 1,789.63 Cr (FY26)

Current Liabilities: Rs. 1,328.87 Cr (FY26)

Non-Current Liabilities: Rs. 111.10 Cr (FY26)

Financial Health Insights: Strong ROE of 68.93% (FY26) and ROCE of 62.54% (FY26)

Capex & Cash Flow Health

Operating Cash Flow: Rs. 286.95 Cr (FY26)

Investing Cash Flow: Rs. -264.48 Cr (FY26)

Financing Cash Flow: Rs. 22.55 Cr (FY26)

Investment Rationale: Focus on capacity expansion and technology upgrades across energy transition value chain

Strategic & R&D Initiatives

Investments in Innovation: Technologically advanced end-to-end solar & T&D solutions, BESS solutions, green hydrogen/electrolyser

Strategic Rationale: Expanding into high-growth markets including data centers and EV infrastructure, reducing operational costs through vertical integration

Industry Trends & Business Environment

Macro/Industry Trends: Solar capacity additions in India estimated at ~156-164 GW over fiscals 2027-2030, supportive government policies fueling growth

Impact on Company: Multi-decade growth opportunity in energy transition, diversification into T&D & telecom EPC reduces solar cycle reliance

Management Commentary & Growth Outlook

Strategic Outlook: Scaling growth across the energy-transition value chain with complete solutions and proven experience

Unexecuted Orderbook: ~₹2,600 Cr+ of EPC (Solar + BESS) and ~₹2,700 Cr+ of T&D, totaling ~₹5,300 Cr+ consolidated

Key Ongoing Projects

  • 450 MWp Ground Mounted solar power project (Q1FY27)
  • 1,520 MWh Battery Storage System EPC (Q1FY27)
  • 420 MWp Ground Mounted solar power project (Q4FY26)
  • 35 MWp Ground Mounted solar power project (Q4FY26)
  • 14 MWp Ground Mounted solar power project (Q4FY26)
  • 217.5 MWp Ground Mounted solar power project (Q3FY26)
  • 39.8 MWp Ground Mounted solar power project (Q3FY26)
  • 1,000 MWp Ground Mounted solar power project (Q2FY26)
  • 29.4 MWp Ground Mounted solar power project (Q2FY26)