Waaree Renewable Technologies Q1 profit surges 206.77% YoY to INR 86.39 crore

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Waaree Renewable Technologies Ltd (WRTL), the solar EPC arm of Waaree Group, has reported a net profit of INR 86.39 crore for Q1 FY26, a 206.77% year-on-year (YoY) increase from the same quarter last year. The company’s revenue from operations stood at INR 603.19 crore, up 155.2% YoY from INR 236.35 crore in Q1 FY25.

Of the total operational revenue, INR 594.39 crore was generated from EPC contracts, while power sales contributed INR 8.78 crore. Total income for the quarter, including INR 4.83 crore in other income, reached INR 608.02 crore.

Manmohan Sharma, CFO, Waaree Renewable Technologies, said, “This [robust] performance in Q1 F6 2026 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% year-on-year, 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% of its total installed power capacity now sourced from non-fossil fuels, reaching this target five years ahead of schedule. The nation reached  484.8 GW of total installed power capacity, including 242.8 GW from non-fossil sources.

In response to the evolving energy landscape, Waaree Renewable Technologies has broadened its portfolio to include battery energy storage system (BESS) EPC solutions. As of June 30, 2025, Waaree Renewable Technologies has a strong order book of 3.15 GWp in solar EPC and 40 MWh in BESS EPC.

The company also announced a strategic INR 7.98 crore investment in Smart Joules, an energy efficiency solutions provider focused on cooling infrastructure for buildings and factories.

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