ALFA Finder| Revenue growth | 53% YoY growth driven by execution of 888 MW solar projects. |
|---|---|
| Margins | Standalone margins improving; consolidated margins slightly diluted by APSPL integration. |
| Order book | Robust at ₹5,300 Cr, including solar EPC, BESS, and T&D. |
| Demand visibility | Strong; India's solar and storage requirements projected to grow significantly. |
| Management confidence | Confident, leveraging the APSPL acquisition to enter the T&D segment. |
Growth
Revenue grew 53% YoY to ₹924 Cr; EBITDA stood at ₹173 Cr with PAT up 37%.
Outlook
Order book of ₹5,300 Cr and 1.15 GW O&M portfolio provide visibility for 12-15 months.
Risks
APSPL acquisition brings lower-margin T&D business; integration of new business lines remains unproven.
Last quarter's promises, checked
Delivered
- Execute 2.8 GW order book in 12-15 months → Executed 888 MW in Q1 (= BEAT)
- Maintain EBITDA margin above 15% → Delivered 18.7% (= BEAT)
- Funding IPP/Capex via internal accruals → No new debt for IPP (= BEAT)
Partly delivered
- Expand into BESS segment → 1.5 GWh order won but execution unproven (= PARTIAL)
Earnings Call Transcript filed with NSE, NSE: WAAREERTL. Summary written with AI assistance from the document.
Waaree Renewable Technologies Ltd: key numbers
- Share price
- ₹743.65
- Market cap
- ₹7,762 Cr
- Revenue (annual)
- ₹3,331 Cr
- Net profit (annual)
- ₹478.7 Cr
- P/E (TTM)
- 16.7×Sector 21.5×
- Promoter holding
- 74.30%-0.02% QoQ
- FII holding
- 2.02%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Waaree Renewable Technologies Ltd
All →Waaree Renewable Technologies Bags New Order from A leading Independent Power Producer Company
Waaree Renewable Technologies won an EPC work order for a 285 MWp solar project from an IPP. Execution is due by FY2027-28; no contract value was disclosed.
- From
- A leading Independent Power Producer (IPP) Company (unnamed)
- Execution
- Scheduled for completion during FY 2027-28
- solar capacity
- 285.0 MWp
Waaree Renewable Technologies Bags New Order from A leading Independent Power Producer company
Waaree Renewable received an EPC Letter of Award for a 200 MW / 500 MWh battery storage project. Completion is scheduled for FY2027-28.
- From
- A leading Independent Power Producer (IPP) company (name not disclosed)
- Execution
- Scheduled completion during FY 2027-28
- battery energy storage capacity
- 200.0 MW
Waaree Renewable Technologies Merger & Restructuring
Waaree Renewable completed transferring its entire stake in Waaree Green Data Centers to parent Waaree Energies. The company ceased to be a subsidiary from 30 October 2026.
Waaree Renewable Technologies Bags New Order from A leading Independent Power Producer Company
Waaree Renewable Technologies received a 450 MWp solar EPC order from an unnamed IPP. Completion is scheduled for FY 2027-28.
- From
- A leading Independent Power Producer (IPP) Company
- Execution
- FY 2027-28
- solar power project EPC capacity
- 450 MWp
Waaree Renewable Technologies Order Update
Waaree Renewable Technologies revised scope and capacity under two solar EPC Letters of Award. Aggregate capacity under the awards stands at 800 MWac / 1,109 MWp.
- Execution
- Scheduled completion during financial year 2027-28, as per the terms of the order
- solar PV capacity under EPC LoAs
- 800.0 MWac
Waaree Renewable Technologies Earnings Call Transcript: Key Takeaways
Revenue grew 36.5% YoY, but execution slowed significantly this quarter due to developer-led land and connectivity delays.