Mumbai, January 14, 2026: Waaree Renewable Technologies Limited reported a strong set of financial results for the quarter and nine months ended December 31, 2025, delivering its highest-ever quarterly revenue and a sharp rise in profitability, supported by robust execution in its solar EPC business and a healthy order pipeline.
Strong Q3 FY26 Financial Performance
During the December quarter, the company recorded consolidated revenue from operations of ₹851.06 crore, marking a year-on-year growth of 136.18 percent compared with ₹360.35 crore in the same quarter last year. Operating performance remained firm, with EBITDA rising to ₹158.80 crore from ₹71.92 crore a year ago, reflecting a growth of 120.79 percent.Profit after tax for the quarter stood at ₹120.19 crore, more than doubling from ₹53.48 crore in Q3 FY25, registering a year-on-year growth of 124.74 percent. EBITDA margin for the quarter came in at 18.66 percent, while PAT margin stood at 14.12 percent.
Nine-Month Performance Highlights
For the nine months ended December 31, 2025, Waaree Renewable Technologies posted consolidated revenue of ₹2,229.03 crore, nearly doubling from ₹1,121.17 crore in the corresponding period of the previous year, reflecting a growth of 98.81 percent.EBITDA for the nine-month period rose to ₹434.28 crore from ₹184.57 crore, a growth of 135.29 percent, with margins remaining healthy at 19.48 percent. Profit after tax for the period surged to ₹322.93 crore compared with ₹135.16 crore in the year-ago period, translating into a growth of 138.92 percent.
Order Book and Project Pipeline Remain Robust
The company reported a strong unexecuted EPC order book of 2.92 GWp, expected to be executed over the next 12 to 15 months. In addition, the bidding pipeline remains robust at around 29 GWp, providing long-term revenue visibility.During the quarter, Waaree Renewable Technologies secured new orders including a 217.5 MWp ground-mounted solar power project and a 39.8 MWp ground-mounted solar power project, further strengthening its project portfolio.
Expansion and Capital Expenditure Plans
As part of its growth strategy, the board approved a capital expenditure budget for setting up a 120 MWp solar power park in Buldhana, Maharashtra. The company continues to expand beyond solar EPC into areas such as battery energy storage systems and data centres, aligning with evolving opportunities in the renewable energy ecosystem.Management Commentary
Commenting on the performance, the company’s management highlighted that the strong growth reflects execution excellence, financial discipline, and a resilient operating model. With India’s renewable energy capacity additions accelerating during FY26, the company believes it is well positioned to deliver large-scale projects while maintaining healthy cash flows and prudent capital allocation.About the Company
Waaree Renewable Technologies Limited is the renewable energy EPC and solar development arm of the Waaree Group. Headquartered in Mumbai, the company undertakes the financing, construction, ownership, and operation of solar projects across India, catering to commercial and industrial customers through both on-site and off-site solar solutions.Source:
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