Waaree Renewable Technologies Reports 74% YoY Revenue Growth

19 Apr 2025 , 12:23 PM

Waaree Renewable Technologies Ltd. reported a robust financial performance for the quarter January–March 2025, with strong growth in all key parameters. The revenue of the company increased sharply by 74% year-on-year to ₹476 crore, from ₹273 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. Net profit saw a sharp rise of 83% YoY, reaching ₹94 crore from ₹51 crore in the same quarter of the last fiscal year. Waaree Renewable’s order book, which remains to be executed, is at present 3.2 GWp, which the company plans to execute within the next 12 to 15 months.

The bidding pipeline of the company has grown to 30 GWp, indicating its aggressive pursuit of new projects in the renewable energy space. Part of its IPP (Independent Power Producer) portfolio, Waaree Renewable has so far developed 54.82 MWp of commissioned solar capacity. It is also in the process of commissioning a new 41.6 MWp IPP plant, with commissioning planned in Q3 FY25.

The O&M (Operations and Maintenance) portfolio stands at around 695 MWp, reflecting its increasing role in long-term asset management. Waaree Renewable is proactively pursuing local and global opportunities to win new Engineering, Procurement, and Construction (EPC) orders. It is a subsidiary of Waaree Energies, a major player in India’s renewable energy sector.