Waaree Renewable Technologies announced robust results for the first quarter of FY27, with revenue from operations jumping 53.23% year-on-year to INR924.25 crore. Profit after tax also saw a significant increase of 37.7% to INR118.97 crore. The company highlighted its successful acquisition of a 55% stake in Associated Power Structures Private Limited and a consolidated unexecuted order book of INR5,300 crore.
Waaree Renewable Technologies Reports Strong Q1 FY27 Performance
Waaree Renewable Technologies Limited has reported a strong start to the financial year 2027, with significant growth in revenue and profits for the first quarter ended June 30, 2026. The company announced that its revenue from operations stood at INR924.25 crore, marking a healthy growth of 53.23% compared to the same quarter last year. EBITDA for the quarter was reported at INR173.48 crore, and profit after tax reached INR118.97 crore, representing a growth of 37.7% on a year-on-year basis.
Strategic Acquisition and Order Book Strength
During the quarter, the company successfully completed the acquisition of a 55% equity stake in Associated Power Structures Private Limited (APSPL), an integrated EPC solution provider for substation and transmission lines. This strategic move is expected to enhance the company’s capabilities in the grid and power evacuation infrastructure segment. Waaree Renewable Technologies also highlighted its consolidated unexecuted order book, which stands at INR5,300 crore, including T&D projects, providing healthy visibility for the coming quarters. The company also has an O&M portfolio of 1.15 gigawatt peak, strengthening its recurring revenue base.
Industry Outlook and Future Prospects
The company noted the strong momentum in India’s renewable energy sector, with total installed renewable energy capacity reaching around 288 gigawatts as of June 30, 2026. The focus is shifting towards storage and grid readiness, with India’s battery energy storage requirement projected at around 208 gigawatt hours by 2030. Furthermore, the Power Transmission Distribution segment is witnessing significant investment, with plans to add substantial circuit kilometers of transmission lines and substations by 2032. Waaree Renewable Technologies believes it is well-positioned to capitalize on these opportunities through its execution track record, healthy pipeline, and expanding capabilities.
Operational Highlights
On the operational front, the company executed 888.81 megawatt peak of projects during Q1 FY ’27. The management expressed confidence in the sector’s continued growth, driven by strong policy support, increasing clean energy demand, and a long-term push towards energy transition.
Source: BSE
