Waaree Renewable Technologies, the solar EPC arm of the Waaree Group, has reported its highest-ever quarterly revenue of INR 774.78 crore in the quarter ended Sep. 30, 2025 (Q2 FY 2026). The revenue was 47.73% up year-on-year (YoY). Q2 net profit rose 117.40% YoY to INR 116.34 crore.
The company attributed this stellar financial performance to robust execution, strong sectoral tailwinds, and continued expansion into new energy verticals including battery energy storage systems (BESS) and data centres.
Half-yearly revenue for FY 2026 increased 81.12% YoY to INR 1,377.97 crore. PAT rose 148.21% YoY to INR 202.73 crore.
Unexecuted order book stands at 3.48 GWp, to be executed over the next 12–15 months, while bidding pipeline remains robust at 27+ GWp.
Recent order won by the company include ground-mounted solar power projects of 1,218 MWp and 29.4 MWp. Further, the company’s board of directors approved capex budget for setting up 28 MWp of ‘IPP mode’ solar power plants (14 MWp each) at two locations in Maharashtra. It also approved capex budget for a 37.5 MWp IPP solar power plant at Bikaner, Rajasthan.
“India’s renewable energy momentum continues to build, with total installed capacity reaching 256.1 GW as of September 2025, marking a significant milestone in its clean energy transition reaching halfway to the 500 GW target of 2030 and further aligning with India’s long-term net-zero vision. Solar energy accounts for 127.33 GW of the total renewable installed capacity, underscoring its pivotal role in the country’s clean energy transition, driven by robust policy support, and ambitious national targets,” said Manmohan Sharma, CFO, Waaree Renewable Technologies Ltd.
“India’s solar EPC sector is also rapidly evolving and our integrated capabilities place us at the forefront of this transformation. With a robust solar EPC unexecuted orderbook of 3.48 GWp, we are strategically positioned to execute large-scale, integrated energy projects and lead India’s energy transition by serving value across the lifecycle from design and delivery to commissioning and O&M. Further the company is also building substation and transmission line for specific solar power project.”
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