Renewable Energy Leader Waaree Tech Posts Explosive Q1: Profit Up 207%, Revenue Up 150%+
India is racing toward a greener future. The country aims to have 500 GW of renewable energy capacity by 2030. That’s a big goal, and companies like Waaree Renewable Technologies Ltd (WRTL) are helping make it happen. Waaree Renewable Tech just shared its Q1 results, and the numbers are huge. Profit is up 207%. Revenue has jumped over 150%. This isn’t just growth, it’s a leap.
So, what’s driving this? Is it just the demand for solar power? Or is Waaree doing something different? Let’s dig into their journey, their smart moves, and what it means for India’s clean energy future.
We’ll also look at their latest projects, the trends in the solar sector, and what we can expect next.
Waaree Renewable: Company Overview
Waaree Renewable Technologies (WRTL) is a key player in India’s solar energy sector. We focus on engineering, procurement, and construction (EPC) of solar projects. We also develop and operate solar power plants. Since its spin-off in 2023, the company has grown fast. It is part of the larger Waaree Group, which makes solar panels. Now, WRTL stands out for delivering complete solar solutions from factories to project sites.
Waaree Renewable Tech Q1 FY26 Financial Highlights
In the June 2025 quarter, WRTL earned ₹603 crore in revenue. That’s a 155% gain over last year’s ₹236 crore. Profit rose to ₹86 crore, up 205-207% from ₹28 crore a year ago. EBITDA margins improved to nearly 19.9%, lifted from around 17-17.5% last year.
Revenue also rose 26.5% from the previous quarter. However, profit slipped about 8.5% compared to Q4 FY25, which saw ₹94 crore. Expenses rose sharply, too. Total costs reached ₹491 crore, up 146% year-over-year. This is linked to strong project activity.
Drivers of Q1 Performance
The burst in results comes from two key factors. First, EPC contract revenue soared to ₹594 crore, a doubling from ₹228 crore last year. Power sales also grew, reaching ₹9 crore, up from ₹2.3 crore. This shows both new project wins and stable operations.
Second, operational efficiency is improving. The firm reports tighter cost control and stronger project scheduling. The CFO, Manmohan Sharma, highlights disciplined execution and careful effort to protect profits.
Strategic Moves & Partnerships
WRTL is not just building solar plants. It’s also expanding into new areas. In Q1, the company invested ₹7.98 crore in Smart Joules. That startup focuses on energy-efficient cooling solutions. This move broadens WRTL’s reach in clean-energy infrastructure.
The company holds a strong order backlog: 3.15 GWp in solar EPC and 40 MWh in battery storage projects. This reflects clear growth plans and deeper footprints.
Industry Trends Supporting Growth
India is aiming for 500 GW of renewable energy by 2030. That ambition keeps policy support strong. In turn, EPC firms like WRTL are in high demand. Solar tenders and tax incentives are boosting growth too.
Global emphasis on ESG investing and green bonds also helps. Companies with cleaner footprints and broader green portfolios win more funding. WRTL fits this mold well.
Challenges and Risks
But growth comes with challenges. First, costs are rising fast. Expenses are up 146% year-over-year. That may limit future profit gains.
The solar industry also faces global competition. Cheaper Chinese panels may pressure margins. Policy delays or land acquisition issues could slow project timelines. These are real risks to execution.
Future Outlook
Looking ahead, WRTL seems confident. The CFO says they are not chasing revenue at any cost; they want sustainable profit and good returns.
The strong order book means visibility into future quarters. Adding battery storage to the mix opens new business avenues. As policy support holds, WRTL is set to grow steadily.
Bottom Line
Waaree Renewable Tech just delivered a blockbuster Q1. Revenues jumped over 150%, with profit more than doubling. Growth is driven by smart project wins and tight execution. We see WRTL moving from solar EPC into wider clean-energy infrastructure. That puts the company on track to shape India’s energy future. But cost control and competition will be key. Still, this looks like a renewable story worth following.
Frequently Asked Questions (FAQs)
In Q1 FY26, Waaree Renewable reported ₹603.19 crore in revenue. This was a 155% increase from ₹236.35 crore in the same quarter last year.
Yes, Waaree Renewable is profitable. It posted a net profit of ₹86.39 crore in Q1 FY26, marking a strong 206-207% rise compared to ₹28 crore last year.
Waaree Renewable trades at about 27.6× its book value and a P/E of 43×. Some may say it’s pricey, though others see growth potential.
Waaree Energies Ltd. holds a 74.39% promoter stake in Waaree Renewable Technologies. The main promoters are the Doshi family.
Disclaimer:
This content is for informational purposes only and not financial advice. Always conduct your research.