Waaree Renewable profit soars by 522%


Waaree Renewable Technologies Limited, an end-to-end solar solutions provider, has reported a revenue of INR 351 crore ($42.4 million) in the twelve months ending March 31, 2023, a 117% growth year-on-year. Net profit soared 522% to INR 55.3 crore.

The company’s board of directors has declared a dividend of INR 1 per equity share of INR 10.

Waaree Renewable executed over 295 MW of EPC projects in FY 2022-23. As of date, it has an order book of 817 MW, which is to be executed over the next 12-15 months. It has also won a contract to set up a 1 MW green hydrogen plant on a build-own-operate basis in Maharashtra.

The company also reported a robust bidding pipeline.

Waaree Renewable Technologies, a solar EPC subsidiary of Waaree Group, also finances, constructs, owns, and operates solar projects.

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