Waaree Energies Limited has reported a remarkable performance for Q3 FY 2024-25, with total income rising by 114.63% to Rs 35,452.65 million.
The earnings before interest, tax, depreciation, and amortisation (EBITDA) surged by 256.97% to Rs 8,097.05 million, while profit after tax (PAT) increased by 259.98% to Rs 5,068.76 million.
The EBITDA margin expanded to 22.84%, up from 13.73%, and the PAT margin improved to 14.30% from 8.52% in Q3 FY 2023-24.
For the first nine months of FY 2024-25, total income grew by 24.11% to Rs 107,051.41 million, while EBITDA and PAT rose by 56.38% and 60.62%, respectively. The PAT margin for the period stood at 11.99%.
The company’s current order book is 26.5 GW, valued at approximately Rs 500 billion. Waaree has commenced trial production at its 5.4 GW solar cell manufacturing facility, and its 1.6 GW solar module line in the U.S. has entered commercial production.
The company has sanctioned Rs 55.1 billion in capital expenditure and Rs 20 billion for a 300 MW electrolyser manufacturing plant, with additional investments of Rs 207.3 billion and Rs 65 billion for a 3.5 GWh lithium-ion storage cell manufacturing plant and Rs 13 billion for its inverter business.