Waa Solar Limited has reported a robust financial performance for the first half of FY2026-27 (H1 FY27). Standalone revenue from operations saw a significant increase of 96.8%, reaching ₹1,679.46 lakh. EBITDA also grew substantially by 59.2% to ₹1,230.59 lakh. Consolidated revenue from operations rose by 93.9% to ₹1,709.45 lakh, with EBITDA climbing 58.6% to ₹1,254.48 lakh, demonstrating strong growth across both standalone and consolidated metrics.
Waa Solar Limited Reports Strong H1 FY27 Financials
Waa Solar Limited has announced impressive financial results for the first half of the fiscal year 2026-27 (H1 FY27), concluding on September 30, 2026. The company has demonstrated significant growth in both its standalone and consolidated operations, highlighting a period of substantial expansion and improved profitability.
Standalone Performance Highlights
On a standalone basis, Waa Solar Limited’s revenue from operations for H1 FY27 reached ₹1,679.46 lakh, marking an impressive year-over-year increase of 96.8%. The company’s EBITDA also saw a healthy rise of 59.2%, amounting to ₹1,230.59 lakh. The Profit Before Tax stood at ₹29.18 lakh, and the Profit After Tax was ₹24.63 lakh. Earnings Per Share (EPS) basic and diluted for the period was reported at ₹0.19.
Consolidated Performance Highlights
Consolidating its operations, Waa Solar Limited reported revenue from operations of ₹1,709.45 lakh for H1 FY27, a notable growth of 93.9% compared to the previous year. The consolidated EBITDA climbed by 58.6% to ₹1,254.48 lakh. Profit Before Tax on a consolidated level was ₹38.56 lakh, and Profit After Tax stood at a strong ₹68.12 lakh. The consolidated EPS basic and diluted was ₹0.51.
Key Balance Sheet Items
As of September 30, 2026, the company’s Net Worth on a standalone basis was ₹18,334.36 lakh, with Total Borrowings at ₹16,536.22 lakh. Total Assets stood at ₹35,968.73 lakh. On a consolidated basis, Net Worth was ₹18,427.45 lakh, Total Borrowings were ₹19,064.35 lakh, and Total Assets amounted to ₹38,481.44 lakh.
Project and Strategic Updates
The company is actively involved in several key projects, including a 48.15 MW feeder-level solarisation project in Madhya Pradesh and a 5.5 MW project in Gujarat comprising Mitana (1.5 MW) and Paddhari (4 MW) components, both under the PM-KUSUM scheme. Additionally, Waa Solar has 7 SPVs for the Surya Mitra Krishi Feeder Scheme in Madhya Pradesh. The company’s strategic priorities include achieving 300 MW capacity by 2030 across various avenues, developing an FDRE Revenue Model, and exploring BESS manufacturing and Maritime Decarbonisation.
Industry Tailwinds
The Indian solar sector is supported by strong policy tailwinds, with India’s installed solar capacity reaching 150.26 GW as of March 2026. The government targets 500 GW of non-fossil capacity by 2030 and has various initiatives like PM-KUSUM and the PLI scheme for solar PV modules, indicating a favorable market environment for companies like Waa Solar.
Source: BSE
