Waaree Energies Ltd News Today

The company's net profit increased 34.1% year-over-year to ₹618.9 crore from ₹461.5 crore in the corresponding quarter last year.

EBITDA for the quarter was ₹122.4 crore, up 62.8% year-on-year, even as EBITDA margins fell marginally to 25.7%, from 27.5% in Q4 FY24

The gigafactory is expected to add 9,500 direct jobs and about 30,000 related jobs.

It is classified as a one-off order for renewable energy projects in India. The solar modules will be delivered between FY 2025-26.

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Solar modules will be supplied in this financial year (2025-26) and will be used for large-scale renewable power projects throughout the country.

The company’s revenue for the quarter registered an increase of 116% y-o-y to ₹3,457 Crore as compared to ₹1,596 Crore.

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The first phase consisted of 1.6 GW of solar module production capacity, which the business plans to expand to 3 GW.

As part of this, Waaree will supply EPC for a 2GW solar project at Rajasthan.