Waaree Renewable Technologies Reports Stellar Financial Results for FY26, Driven by Solar Growth
Waaree Renewable Technologies Limited, the solar EPC arm of the Waaree Group, has announced its audited financial results for the quarter and year ended March 31, 2026. The company reported significant year-over-year growth in key metrics, underpinned by a robust order book and expanding into Battery Energy Storage Systems (BESS) and data centres.The company's financial performance highlights solid growth across the board, with revenue from operations reaching Rs. 3,331.42 crores for the fiscal year 2026 (FY26).
Consolidated Financial Highlights
The financial data for the full fiscal year and the fourth quarter of FY26 are detailed below, showing consistent growth from the previous year.| Particulars (In Rs. Cr) | Q4FY26 | Q4FY25 | Y-o-Y Change | FY26 | FY25 | Y-o-Y Change |
|---|---|---|---|---|---|---|
| Revenue from Operations | 1,102.40 | 476.58 | 131.31% | 3,331.42 | 1,597.75 | 108.51% |
| EBITDA | 206.82 | 126.33 | 63.71% | 641.10 | 310.90 | 106.21% |
| EBITDA Margin | 18.76% | 26.51% | 19.24% | 19.46% | ||
| PAT | 155.72 | 93.76 | 66.08% | 478.65 | 228.92 | 109.09% |
| PAT Margin | 14.13% | 19.67% | 14.37% | 14.33% |
Key Performance Insights
During FY26, Waaree Renewable Technologies recorded:- Revenue from operations of Rs. 3,331.42 crores, marking a 108.51% Year-over-Year (YoY) growth compared to Rs. 1,597.75 crores in FY25.
- EBITDA stood at Rs. 641.10 crores, reflecting a 106.21% YoY increase from Rs. 310.90 crores in FY25.
- PAT reached Rs. 478.65 crores, showing a significant YoY growth of 109.09% over the Rs. 228.92 crores recorded in FY25.
For the fourth quarter (Q4) alone, the company reported:
- Revenue from operations of Rs. 1,102.40 crores, representing a 131.31% YoY jump from Rs. 476.58 crores in Q4FY25.
- PAT of Rs. 155.72 crores, indicating a 66.08% YoY growth compared to Rs. 93.76 crores in Q4FY25.
Order Book and Strategic Pipeline
Operationally, the company maintains a strong footing with an unexecuted order book valued at 2.83 GWp, which is scheduled for execution over the next 12 to 15 months. Furthermore, the bidding pipeline continues to gain momentum, currently exceeding 36 GWp. Recent order wins include projects of 420 MWp, 35 MWp, and 14 MWp for Ground Mounted solar power.Management Commentary
Commenting on the robust results, Manmohan Sharma, CFO of Waaree Renewable Technologies Limited, stated, "We are pleased to conclude FY26 with a stellar and consistent financial performance with revenue of ₹3,331.42 crore as compared to ₹1,597.75 crore for FY25, reflecting a robust growth of 108.51%. This performance was supported by disciplined execution thus enabling consistent delivery."He also provided context regarding the broader market, noting that India's renewable energy sector continues to build strong momentum. As of March 2026, the total installed renewable capacity crossed 274 GW, with solar contributing over 150 GW. During FY26, solar additions rose sharply to over 44 GW, a considerable jump from approximately 24 GW in the previous year. This performance established solar as the primary driver of India's clean energy transition, accounting for approximately 82% of total renewable capacity additions in FY26.
Company Profile
Waaree Renewable Technologies Limited (WRTL) is a subsidiary of the Waaree Group and spearheads the Solar EPC business. The company functions both as a solar EPC provider and a solar developer, financing, constructing, owning, and operating solar projects. Headquartered in Mumbai, WRTL focuses on long term investments within the commercial and industrial customer segments, providing clean energy through both on-site solar projects (rooftop and ground-mounted) and off-site solar farms (open access solar plants).WAAREERTL Stock Price Movement
Today, Waaree Renewable Technologies Limited shares rallied, closing at ₹1060.3, up 2.36% for the session. The stock saw solid interest, trading on a volume of approximately 1.29 million shares today.Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.