Waaree Renewable Technologies Limited (BSE: 534618) and (NSE WAAREERTL) , the EPC arm of the Waaree Group and one of India’s leading players in the solar EPC segment, has announced its unaudited financial results for the quarter and half year ended September 30, 2025.
The company recorded its highest-ever quarterly revenue and PAT, driven by robust execution, strong sectoral tailwinds, and continued expansion into new energy verticals including Battery Energy Storage Systems (BESS) and data centres.
Financial Highlights – Q2 FY26
- Revenue from Operations: ₹774.78 crores, a growth of 47.73% YoY
- EBITDA: ₹157.94 crores, a growth of 120.69% YoY
- PAT: ₹116.34 crores, a growth of 117.40% YoY
- H1 FY26 Revenue: ₹1,377.97 crores, up 81.12% YoY
- H1 FY26 PAT: ₹202.73 crores, up 148.21% YoY
The company’s unexecuted order book stands at 3.48 GWp, to be executed over the next 12–15 months, while its bidding pipeline remains robust at 27+ GWp.
Key Business Updates
- Recent Order Wins
- 1,218 MWp Ground Mounted Solar Power Project
- 29.4 MWp Ground Mounted Solar Power Project
- Board Approvals
- Capex budget approved for setting up 28 MWp IPP Solar Power Plants (14 MWp each) at two locations in Maharashtra
- Capex budget approved for 37.5 MWp IPP Solar Power Plant at Bikaner, Rajasthan
Mr. Manmohan Sharma, CFO, Waaree Renewable Technologies Limited, said:
“We are pleased to report highest ever quarterly revenue of ₹774.78 crores for Q2 FY26, compared to ₹524.47 crores in Q2 FY25, delivering a robust growth of 47.73%. The substantial growth in the numbers is a result of our execution capabilities and increasing sector performance.
India’s renewable energy momentum continues to build, with total installed capacity reaching 256.1 GW as of September 2025 marking a significant milestone in its clean energy transition reaching halfway to the 500 GW target of 2030 and further aligning with India’s long-term net-zero vision. Solar energy accounts for 127.33 GW of the total renewable installed capacity, underscoring its pivotal role in the country’s clean energy transition, driven by robust policy support, and ambitious national targets.
India’s solar EPC sector is also rapidly evolving and our integrated capabilities place us at the forefront of this transformation. With a robust solar EPC unexecuted orderbook of 3.48 GWp, we are strategically positioned to execute large-scale, integrated energy projects and lead India’s energy transition by serving value across the lifecycle from design and delivery to commissioning and O&M. Further the company is also building substation and transmission line for specific solar power project.”
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