Waaree Renewable Q2 Results: Net profit more than doubles, margins improve

Waaree Renewable Technologies Ltd its highest-ever quarterly profit and revenue for the September quarter, as strong project execution and expanding margins boosted performance.

The company’s net profit jumped 117% year-on-year to ₹116.3 crore, while revenue rose 47.7% to ₹774.8 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) more than doubled to ₹157.9

crore from ₹71.6 crore a year earlier, with margins improving to 20.4% from 13.6%.

The solar EPC firm, a subsidiary of Waaree Energies, said its unexecuted order book stood at 3.48 GWp, to be completed over the next 12–15 months, supported by a strong bidding pipeline of over 27 GWp.

During the quarter, Waaree secured new solar project orders totalling about 1.25 GWp and approved capital expenditure plans for independent power producer (IPP) solar plants in Maharashtra and Rajasthan.

Chief Financial Officer Manmohan Sharma said the results reflected “execution capabilities and increasing sector performance” amid India’s accelerating renewable energy buildout, with the country’s installed capacity reaching 256 GW as of September.

Shares of Waaree Renewable Technologies closed at around ₹1,134.60 per share on the BSE, up 2.2% on Friday.