Waaree Renewable Technologies Ltd. (WRTL), one of India’s rapidly growing solar EPC companies, has announced its unaudited financial results for the quarter ending June 30, 2025. The company has reported a strong quarter, showing notable growth in revenue, profitability, and strategic investments aimed at expanding its presence in the clean energy sector. WRTL recorded a revenue of ₹603.19 crore from operations in Q1 FY26. This marks a 26.5% increase over ₹476.58 crore reported in the previous quarter (Q4 FY25) and a substantial 156% rise compared to ₹236.35 crore in Q1 FY25.
The company also posted a net profit after tax of ₹86.39 crore for the quarter, a significant jump from ₹28.16 crore in the same quarter of the previous financial year. This growth reflects WRTL’s strong operational performance and effective execution of projects. The total income for Q1 FY26 stood at ₹608.02 crore, which includes ₹4.83 crore of other income. Cost-wise, the company maintained control across key segments, with EPC contract expenses amounting to ₹470.02 crore, employee benefit expenses at ₹9.35 crore, finance costs at ₹3.56 crore, and depreciation at ₹2.23 crore.
During the quarter, revenue from EPC contracts was ₹594.39 crore, while ₹8.78 crore came from power sales. This diversified revenue mix is helping the company generate steady and predictable cash flows, which is crucial for long-term sustainability and growth. WRTL also announced a strategic investment of ₹7.98 crore in Smart Joules Private Limited (SJPL), a company that specializes in energy efficiency solutions, particularly for cooling systems used in commercial and industrial buildings. This move signals WRTL’s intent to expand its role beyond solar into broader clean energy and energy efficiency solutions.
Mr. Manmohan Sharma, CFO, Waaree Renewable Technologies Limited, said in a statement, “We are pleased to report revenue of ₹603.19 crores for Q1 FY26, compared to ₹236.35 crores in Q1 FY25, delivering a robust growth of 155.20%. This performance reflects the strength of our business model, our disciplined operational approach, and our ability to execute large-scale projects efficiently in a rapidly evolving clean energy landscape. As of June 2025, India’s total renewable energy capacity stood at 234 GW, with solar contributing 116.25 GW. In the first half of CY2025, solar installations grew by 51.6% year-on-year, underscoring the sector’s accelerating momentum.
He continued saying, “This growth is being propelled by India’s ambitious clean energy roadmap, rising demand across industrial and utility segments. India has also achieved a major milestone in its clean energy transition, with 50% of its total installed power capacity now sourced from non-fossil fuels, reaching this target five years ahead of schedule. With 484.8 GW of total installed capacity, and 242.8 GW from non-fossil sources, this progress reinforces the country’s leadership in sustainable energy.”
Mr. Sharma further added, “In response to the evolving energy landscape, we have broadened our portfolio to include Battery Energy Storage System (BESS) EPC solutions, reinforcing our position as a full-spectrum clean energy provider. With a strong order book of 3.15 GWp in Solar EPC and 40 MWh in BESS EPC, we are well equipped to deliver next-generation, large-scale integrated energy projects. We remain resilient, future-ready, and committed to enabling India’s energy transition through high-quality, sustainable solutions. With innovation and sustainability at the heart of our operations, we are confident in our ability to generate long-term value for all stakeholders.”
India’s renewable energy sector continues to grow, with total installed capacity reaching over 220 GW by March 2025, including 105.65 GW of solar power. As the country pushes towards its 2030 target of 500 GW of renewable energy, WRTL is positioning itself to take advantage of these opportunities. With a strong order book, efficient execution capabilities, and strategic investments, WRTL remains committed to supporting India’s clean energy transition through innovative and scalable solutions.
