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Waaree Renewable Technologies Posts 53 Percent Rise in Q1 FY27 Revenue to INR 924 Crore

Waaree Renewable Technologies has reported revenue of INR 924.25 crore and profit after tax of INR 118.97 crore in Q1 FY27, registering year-on-year growth of 53.23 percent and 37.70 percent, respectively.

July 23, 2026. By Mrinmoy Dey

Waaree Renewable Technologies (WRTL), the EPC arm of the Waaree Group, has reported a 53.23 percent YoY growth in its revenue from operations to INR 924.25 crore in Q1 FY27 from INR 603.19 crore in Q1 FY26.

The company’s EBITDA stood at INR 173.48 crore as compared to INR 117.55 crore in Q1 FY26, showcasing a growth of 47.58 percent YoY. Its profit after tax (PAT) in Q1 FY27 stood at INR 118.97 crore as compared to INR 86.40 crore in Q1 FY26, representing a growth of 37.70 percent YoY.

The company's consolidated unexecuted order book stood at over INR 5,300 crore. Its bidding pipeline remains robust, comprising more than 37 GWp of solar projects, over 10 GWh of battery energy storage system (BESS) projects, and transmission and distribution (T&D) opportunities worth over INR 20,000 crore, stated the company.

Commenting on the results, Manmohan Sharma, CFO, Waaree Renewable Technologies, said, “The global business environment continues to face multiple challenges, including geopolitical tensions, tariff uncertainties, supply chain adjustments and regional conflicts. Despite these headwinds, we are pleased to begin FY27 on a strong note, with consolidated revenue for Q1 FY27 at INR 924.25 crore compared to INR 603.19 crore in Q1 FY26, reflecting a robust growth of 53.23 percent. This performance was driven by steady execution across our EPC portfolio, efficient resource deployment, and a sustained focus on disciplined project delivery.”

He further added, “During the quarter, we completed the acquisition of a 55 percent stake in Associated Power Structures. This strengthens our capabilities in transmission and distribution (T&D), enabling us to offer integrated solutions while continuing to expand our renewable EPC business in a disciplined and scalable manner.”

India's installed renewable energy capacity stood at over 288 GW as of June 2026, with solar capacity crossing 162 GW and remaining the leading driver of the country's clean energy transition. “With India targeting 500 GW of non-fossil fuel capacity by 2030, there remains a significant pipeline of projects yet to be built, providing a strong runway for utility-scale renewable development. Beyond this, BESS EPC and hybrid renewables represent an emerging growth opportunity, supported by rising demand for grid stability and round-the-clock clean power,” stated Sharma.

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