Waaree Renewable Technologies Reports 156 percent YoY Revenue Growth in Q1 FY26
Waaree Renewable Technologies Ltd. (WRTL) announced its unaudited financial results for the quarter ended June 30, 2025, delivering yet another quarter of solid performance marked by strong revenue growth, profitability, and strategic advancement in the clean energy space.
July 17, 2025. By News Bureau
WRTL reported revenue from operations of INR 603.19 crore in Q1 FY26, reflecting a 26.5 percent sequential rise from INR 476.58 crore in Q4 FY25 and a remarkable 156 percent increase year-on-year from INR 236.35 crore in Q1 FY25. Net profit after tax stood at INR 86.39 crore, up from INR 28.16 crore in the same quarter last year- underscoring the company’s operational efficiency and robust project execution.
Total income for the quarter reached INR 608.02 crore, including INR 4.83 crore in other income. This was accompanied by disciplined cost management, with EPC contract expenses at INR 470.02 crore, employee benefit expenses at INR 9.35 crore, and finance and depreciation costs at INR 3.56 crore and INR 2.23 crore, respectively.
Manmohan Sharma, CFO, Waaree Renewable Technologies Limited, commented: “We are pleased to report revenue of INR 603.19 crores for Q1 FY26, compared to INR 236.35 crores in Q1 FY25, delivering a robust growth of 155.20 percent. 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 percent year-on-year, underscoring the sector’s accelerating momentum.
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 percent 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. 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.”
In Q1FY26, revenue from EPC contracts stood at INR 594.39 crore, while the power sale segment contributed INR 8.78 crore. This hybrid revenue model is delivering consistent, predictable cash flows and fuelling sustainable growth. WRTL also announced a strategic INR 7.98 crore investment in Smart Joules Private Limited (SJPL), an energy efficiency solutions provider focused on cooling infrastructure for buildings and factories. This investment underscores WRTL’s ambition to be a full-spectrum clean energy and energy efficiency player.
India’s renewable energy landscape continues to evolve rapidly, with installed capacity surpassing 220 GW, including 105.65 GW of solar as of March 2025. With strong tailwinds from government targets- 500 GW RE by 2030- WRTL is well-positioned to capture emerging opportunities. Backed by a robust order book, agile execution, and forward-looking investments, WRTL remains committed to enabling India’s energy future through reliable, innovative, and scalable renewable solutions.
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