Waaree Renewable posts record Q3 revenue, strong profit growth

Waaree Renewable Technologies Limited (WRTL), the Engineering, Procurement, and Construction (EPC) subsidiary of the Waaree Group, has reported its highest-ever quarterly revenue in its unaudited financial results for the third quarter and nine months ended December 31, 2025.

For the third quarter of fiscal year 2026 (Q3 FY26), revenue from operations stood at Rs 851.06 crore, up 136.18% from Rs 360.35 crore in the corresponding quarter last year. Profit After Tax (PAT) rose 124.74% year on year to Rs 120.19 crore. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased 120.79% to Rs 158.80 crore.

For the nine-month period (9M FY26), revenue reached Rs 2,229.03 crore, reflecting a 98.81% increase over the previous year. PAT for the period was Rs 322.93 crore, recording a growth of 138.92%.

WRTL reported an unexecuted EPC order book of 2.92 gigawatt-peak (GWp), with an execution timeline of 12 to 15 months. During the third quarter, the company secured new orders for a 217.5 MWp and a 39.8 MWp ground-mounted solar power project.

Commenting on the performance, Mr. Manmohan Sharma, Chief Financial Officer (CFO) of WRTL, said the results were driven by execution efficiency and a stable operating model. He also pointed to strong sector momentum, noting that India added over 30 GW of solar capacity in the first nine months of FY26.

Separately, the Board of Directors approved a capital expenditure (capex) plan for setting up a 120 MWp solar power park in Buldhana, Maharashtra.

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