Waaree Renewable Technologies Limited, the EPC arm of the Waaree Group and a leading player in India’s solar space, has announced stellar financial results for the fiscal year ended March 31, 2025. The company clocked a record revenue of ₹1,597.75 crore, marking a robust 82.29% year-on-year (YoY) growth, while profit after tax (PAT) surged 57.64% YoY to ₹228.92 crore.

FY25 Financial Performance (YoY)

• Revenue: ₹1,597.75 crore (vs ₹876.50 crore in FY24)
• EBITDA: ₹310.90 crore (up 50.06%)
• PAT: ₹228.92 crore (vs ₹145.22 crore in FY24)
• EBITDA Margin: 23.64%
• PAT Margin: 16.57%

Q4 FY25 Snapshot (YoY)

• Revenue: ₹476.58 crore (up 74.37%)
• EBITDA: ₹126.33 crore (up 67.79%)
• PAT: ₹93.77 crore (up 82.73%)

Strong Order Book and Diversification

The company’s unexecuted EPC order book stands at 3.2 GWp, to be delivered within 12–15 months. The bidding pipeline remains healthy at ~30 GWp. Waaree also secured new orders, including:

• 255 MWp and 105 MWp ground-mounted solar projects
• 40 MWh Battery Energy Storage System (BESS) project

Further expanding its footprint, Waaree has forayed into data centres and BESS EPC, aiming to become a holistic player in India’s clean energy space.

Management Commentary

Mr. Manmohan Sharma, CFO, Waaree Renewable Technologies, said:

“We are pleased to deliver a revenue growth of over 82% in FY25, significantly outpacing India’s solar sector. This is a testament to our strong execution, integrated model, and commitment to innovation. With India targeting 280 GW of solar by 2030, we’re strategically positioned to contribute meaningfully through cutting-edge EPC solutions across solar, hybrid, and storage.”

As of March 2025, India’s total renewable capacity reached 220.10 GW, with solar alone accounting for 105.65 GW. Backed by strong policy support and growing demand, Waaree aims to continue scaling with a focus on quality, sustainability, and innovation.

The company reiterated its commitment to supporting India’s energy transition with robust, future-ready infrastructure and long-term value creation for stakeholders.

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