Waaree Renewable Delivers With Strong Finish To FY25

Waaree Renewable Technologies Ltd. (WRTL), one of India’s fastest-growing and largest solar EPC companies, announced its audited financial results for Q4 and full-year FY25 on Apr 16.

WRTL’s Q4 FY25 revenue from operations reached ₹476.58 crore, marking a 32.3% increase sequentially from ₹360.35 crore in Q3 FY25 and a 74.5% increase YoY from ₹273.31 crore in Q4 FY24. Total income for the quarter stood at ₹481.44 crore, including other income of ₹4.86 crore. The company’s operating scale and revenue generation have demonstrated consistent and sharp growth, reflecting the successful execution of high-value EPC projects. Key expenses included ₹334.96 crore in cost of EPC contracts, ₹7.50 crore in employee benefits expense, ₹4.38 crore in finance costs, ₹1.63 crore in depreciation & amortization, and ₹7.79 crore in other expenses.

For the full fiscal year FY25, WRTL reported strong revenue growth with total revenue from operations reaching ₹1,597.75 crore, an 82.3% increase YoY from ₹876.50 crore in FY24, driven by a strong execution pipeline of large-scale solar EPC projects. Total income, including other income, jumped to ₹1,612.55 crore, a significant rise from ₹881.99 crore in FY24, reflecting both operational consistency and steady secondary income streams. The company’s cost of EPC contracts for the year was ₹1,238.80 crore. Despite the increased scale, cost controls remained efficient, aiding margin preservation. It reported an 83 per cent rise in its consolidated net profit to Rs 93.76 crore in the March quarter (Q4) on account of higher income.

Strategic project wins have strengthened WRTL’s position as a leading solar EPC player for C&I and utility-scale markets, while the expansion of capabilities has set the foundation for hybrid RE solutions and RTC (Round-the-Clock).

Commenting on the results Manmohan Sharma, CFO, Waaree Renewable Technologies Limited said: “Recognizing the evolving needs of the energy landscape, we have expanded our capabilities into Battery Energy Storage System (BESS) EPC solutions, further strengthening our position as a comprehensive clean energy player. Backed by a robust order book of 3.2 GW in Solar EPC and 40 MWh in BESS EPC, we are well-positioned to deliver large-scale, next-generation projects.

We remain well-positioned, operationally resilient, and committed to driving the energy transition with high-quality, sustainable solutions. With innovation and sustainability at the core of our business, we are confident in our ability to create long-term value for all stakeholders.”