Waaree Renewable Technologies Limited (WRTL) has reported its highest ever quarterly revenue and profit after tax (PAT) for the quarter ended September 30, 2025 (Q2 FY26). The company’s revenue from operations reached Rs 774.78 crore in Q2 FY26, a growth of 47.73% year-on-year, while PAT surged by 117.40% to Rs 116.34 crore. For the half year (H1 FY26), revenue was Rs 1,377.97 crore, up 81.12% YoY, and PAT was Rs 202.73 crore, an increase of 148.21%. EBITDA also saw significant growth, rising 144.56% to Rs 275.48 crore in H1 FY26. The PAT margin improved to 15.02% in Q2 FY26 from 10.20% in the same quarter last year.
WRTL’s order book is strong with an unexecuted order book of 3.48 GWp expected to be executed over 12–15 months. The company’s bidding pipeline remains robust at over 27 GWp. Recent major project orders include a 1,218 MWp ground-mounted solar power project and a 29.4 MWp solar project. The Board also approved capital expenditure for solar power plants totaling 65.5 MWp at locations in Maharashtra and Rajasthan.
The company attributes its strong financial performance to its execution capabilities and the growing renewable energy sector in India. India’s total installed renewable capacity reached 256.1 GW as of September 2025, with solar contributing 127.33 GW, positioning the country halfway to its 500 GW target by 2030. WRTL aims to leverage its integrated capabilities and robust solar EPC order book to execute large-scale projects and lead in India’s energy transition.
Key Financial Highlights (Q2 and H1 FY26)
Metric Q2 FY26 H1 FY26 YoY Growth (H1 FY26)
Revenue (Rs crore) 774.78 1,377.97 81.12%
EBITDA (Rs crore) 157.94 275.48 144.56%
Profit After Tax (PAT) 116.34 202.73 148.21%
PAT Margin (%) 15.02 — Improved from 10.20%
Order Book and Projects
Unexecuted order book: 3.48 GWp to be executed in 12-15 months
Project bidding pipeline: Over 27 GWp
Major new orders: 1,218 MWp and 29.4 MWp ground-mounted solar projects
Capex approved for IPP solar plants:
28 MWp (14 MWp each) at two sites in Maharashtra
37.5 MWp at Bikaner, Rajasthan
Strategic Outlook
WRTL has expanded into Battery Energy Storage Systems (BESS) and data centers, positioning itself for growth in emerging clean energy verticals. The company’s solid execution record and robust order book support its leadership role in India’s renewable energy transition, especially as the country moves toward its 500 GW renewable capacity goal by 2030.
This performance demonstrates Waaree Renewable Technologies’ strong growth trajectory in India’s renewable energy sector and its commitment to sustainable energy solutions with significant ongoing and upcoming projects.
