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Waaree Renewable Technologies Limited announced its results for the second quarter of the current financial year (Q2 FY26) late on October 10 evening. The firm reported that Its revenue from operations surged to Rs 774.7 crore for the September quarter of FY26, up 47.7% from Rs 524.4 crore posted in Q2 FY25. At Rs 1378 crores, H1 revenues for FY 26 rose 81% over the 761 crore figure of revenues for Fy 25.
Waaree RTL reported earnings before interest, taxes, depreciation, and amortisation (EBITDA) of Rs 158 crore for the July-September quarter of the current fiscal (Q2 FY26) against Rs 62 crore posted in the year-ago period.
Profit after tax at Rs 116 crores jumped 117% over the Rs 53 crores recorded in the same quarter last year. For the six month period ending September, PAT was up 148% at Rs 202 crores versus 82 crores last year. The Q2 results indicate strong momentum for the Solar EPC firm, now established among the top 5 in the country.
Order book Position:
o Unexecuted order book stands at 3.48 GWp to be executed between 12-15 months
o Bidding pipeline remains robust at 27+ GWp
Key Updates
Order Wins
o 1218 MWp Ground Mounted solar power project (Order won in Q2FY26)
o 29.4 MWp Ground Mounted solar power project (Order won in Q2FY26)
Other Highlights include board approval for
o Capex budget for setting up of 28 MWp IPP Solar Power Plants of 14 MWp each at 2 locations in Maharashtra
o Capex budget for setting up of 37.5 MWp IPP Solar Power Plant at Bikaner, Rajasthan.
Well Placed To Deliver
With a strong order book and a more conducive half of the financial year ahead, the firm is poised to mark a significant jump over Fy 25 in this year, with H1 revenues of Rs 1378 crores itself just 14% off from the full year revenues of Rs 1598 crores in Fy 25. Crossing the milestone of Rs 2500 crores and getting close to a profit range of Rs 400-400 crores is well within reach for the EPC firm. Analysts will be hard put to see the logic of the move into IPP projects at this stage, but will appreciate the new focus on BESS and Data Centre led project demand.