Waaree Renewable Q3 Results | Net profit jumps 2x as revenue surges 136% on strong execution

Waaree Renewable Technologies Ltd on Wednesday (January 14) reported a 124.74% year-on-year rise in profit after tax to ₹120.19 crore in Q3 FY26, compared with ₹53.48 crore in the year-ago period.

The company posted its highest-ever quarterly revenue of ₹851.06 crore during the quarter, registering a growth of 136.18% from ₹360.35 crore in Q3 FY25. EBITDA for the quarter stood at ₹158.80 crore, up 120.79% year-on-year from ₹71.92 crore. EBITDA margin for Q3 FY26 was 18.66%, while PAT margin stood at 14.12%.

For the nine months ended FY26, revenue from operations rose 98.81% year-on-year to ₹2,229.03 crore, surpassing the full-year FY25 performance, compared with ₹1,121.17 crore in the corresponding period last year. EBITDA for 9M FY26 increased 135.29% to ₹434.28 crore from ₹184.57 crore, with margins at 19.48%. Profit after tax for the nine-month period grew 138.92% to ₹322.93 crore, compared with ₹135.16 crore in 9M FY25.

Also Read: Waaree Renewable gets revised LoA for solar project; order value shrinks by ₹212.8 crore

The company reported a strong unexecuted order book of 2.92 GWp, expected to be executed over the next 12 to 15 months. Its bidding pipeline remained robust at around 29 GWp. During Q3 FY26, Waaree Renewable secured orders for a 217.5 MWp and a 39.8 MWp ground-mounted solar power project.

As part of its expansion plans, the board approved a capital expenditure budget for setting up a 120 MWp solar power park in Buldhana, Maharashtra.

Manmohan Sharma, CFO, Waaree Renewable Technologies, said, "India's renewable energy sector continues to gain momentum, with over 30 GW of solar capacity added in the first nine months of FY26, which already surpasses last year's full-year addition.

With an unexecuted EPC orderbook of 2.92 GWp, WRTL is positioned to deliver large-scale solar projects, also ensuring long-term performance through integrated O&M services. India’s energy transition is not only about expanding capacity but also about embedding resilience and efficiency."

Also Read: Waaree Renewable gets revised LoA for solar project; order value shrinks by ₹212.8 crore

Waaree Renewable Technologies Ltd shares closed at ₹972.00, today (January 14) on BSE, down ₹34.35 or 3.41% from the previous trading session.