Waaree Energies Ltd., a prominent player in the global clean energy transition, has announced its audited financial results for the fourth quarter and full financial year ending March 2025 (Q4FY25 and FY25). The results reflect a strong and resilient performance, supported by consistent demand, operational efficiency, and strategic growth initiatives.
In Q4FY25, the company reported revenue of ₹4,140.92 crore, marking a year-on-year growth of 37.69 percent. For the entire fiscal year FY25, Waaree Energies recorded total revenue of ₹14,846.06 crore, an increase of 27.62 percent compared to the previous year. This performance underscores the company’s manufacturing strength and its ability to successfully execute large-scale projects.
Looking ahead to FY26, Waaree Energies has provided EBITDA guidance in the range of ₹5,500 crore to ₹6,000 crore. This projection is supported by the company’s expanded backward-integrated manufacturing capabilities, its growing production presence in the United States, and a strong international order pipeline.
As of March 2025, the company holds an order book of more than 25 gigawatts (GW), valued at approximately ₹47,000 crore. The orders come from major utility-scale project developers and clients in the commercial and industrial (C&I) segment. This strong pipeline reflects continued demand for Waaree’s high-margin solar energy products and solutions, and reinforces its strategic direction and competitive positioning in both domestic and international markets.
Mr. Amit Paithankar, Whole Time Director & CEO, Waaree Energies Ltd, remarked, “FY25 marks a pivotal inflection point in Waaree’s journey- a year where our strategy, scale, and execution converged to deliver industry-leading EBITDA performance of Rs. 3,123.20 crore. This performance underscores the strength of our execution capabilities and the quality of order book, with centred focus on margins. We see encouraging demand trends, which bodes well for future growth. Waaree is focused on both backward and forward integration, reflected in our expansion and investment plans including cell, ingot and wafer manufacturing, battery energy storage system, power infrastructure and inverters.”
He also added, “Our 1.6 GW module manufacturing facility is operational in Brookshire, Texas, USA. This reinforces our commitment to the American market and underlines our local-for-local manufacturing philosophy. Our strategy of local manufacturing and supply chain management will help us navigate through the changing policy environment. Furthermore, our EBITDA outlook for FY26 stands at Rs. 5,500 Cr to Rs.6,000 Cr. The quality of our order book and execution capabilities will enable us to achieve these numbers.”
Waaree Energies plans to accelerate its growth by entering new overseas markets while continuing to strengthen its leadership position in India. The company’s strategy focuses on expanding its global footprint, diversifying its customer base, and maintaining a sharp focus on innovation and execution to support the ongoing global shift toward renewable energy.
