Waaree Renewable Technologies Q1 revenue rises 53.23% YoY to INR 924.25 crore

Waaree Renewable Technologies Ltd (WRTL), the EPC arm of the Waaree Group, reported consolidated revenue from operations of INR 924.25 crore for the first quarter of FY27, marking a 53.23% year-on-year (YoY) increase. The company’s profit after tax (PAT) rose 37.7% YoY to INR 118.97 crore.

The company’s consolidated unexecuted order book stood at over INR 5,300 crore at the end of the quarter. Its bidding pipeline remains robust, comprising more than 37 GWp of solar projects, over 10 GWh of battery energy storage systems (BESS), and transmission and distribution (T&D) opportunities worth more than INR 20,000 crore.

Beyond its core renewable EPC business, WRTL has been expanding into adjacent segments. During the quarter, the company acquired a 55% equity stake in Associated Power Structures, strengthening its presence in the transmission and distribution (T&D) sector.

The company is also actively pursuing EPC opportunities in battery energy storage systems (BESS) and data centres.

Among its recent project wins are a 1,520 MWh BESS project and a 450 MWp ground-mounted solar power project.

“The global business environment continues to face multiple challenges, including geopolitical tensions tariff uncertainties supply chain adjustments and regional conflicts. Despite these headwinds, we are pleased to begin FY27 on a strong note,” said Manmohan Sharma, CFO, Waaree Renewable Technologies.

Sharma added that the company’s strong fiscal performance was driven by steady execution across its EPC portfolio, efficient resource deployment, and a sustained focus on disciplined project delivery.

“India’s installed renewable energy capacity stood at over 288 GW as of June 2026, with solar capacity crossing 162 GW and remaining the leading driver of the country’s clean energy transition. With India targeting 500 GW of non-fossil fuel capacity by 2030, there remains a significant pipeline of projects yet to be built, providing a strong runway for utility-scale renewable development. Beyond this, BESS EPC and hybrid renewables represent an emerging growth opportunity, supported by rising demand for grid stability and round-the-clock clean power,” said Sharma.