Waaree Renewable posts robust Q2 growth with Rs 5,244.7 million revenue

Waaree Renewable Technologies Limited (WRTL), the solar EPC arm of Waaree Group, reported Q2 FY25 revenue of Rs 5,244.7 million, a 249.50% increase from Rs 1,500.6 million in Q2 FY24. Profit after tax (PAT) stood at Rs 535.2 million, while its unexecuted order book remains at 1.7 GWp with a 9-12 month timeline. For H1 FY25, revenue reached Rs 7,608.2 million, up 172.70% year-on-year, with an EBITDA of Rs 1,126.5 million, marking a 155.56% increase.

The EPC segment’s Q2 billing rose to Rs 5,833.6 million for 528.56 MWp, compared to Rs 1,410.9 million for 169.59 MWp last year. 

New orders include several ground-mounted solar projects and a floating solar project totaling over 60 MWp. In Q1 FY25, WRTL achieved Rs 2.36 billion in revenue, a PAT of Rs 281.6 million, and delivered 302.95 MW of EPC projects.