Waaree Renewable Technologies Limited has announced strong financial results for the quarter and financial year ended March 31, 2026. The company achieved substantial growth, reporting annual revenue of INR 3,331.42 crore, representing a 108.51% increase over the previous year. PAT reached INR 478.65 crore, marking a 109.09% year-on-year growth. The company continues to demonstrate robust execution capabilities and efficiency, maintaining a healthy order book and expanding into new strategic areas like BESS EPC.
FY2026 Financial Highlights
For the financial year 2026, the company delivered a stellar performance driven by high operational efficiency. Annual revenue stood at INR 3,331.42 crore, a significant climb of 108.51% compared to FY2025. EBITDA saw a similar trajectory, rising to INR 641.10 crore, up 106.21% year-on-year, while Profit After Tax (PAT) reached INR 478.65 crore, reflecting a growth of 109.09%. For the final quarter (Q4), the company reported revenue of INR 1,102.40 crore and PAT of INR 155.72 crore.
Operational Achievements and Order Book
Operational scale reached new heights in FY2026, with the company successfully executing 2,727 megawatt peak of projects. The year-end unexecuted order book remains robust at 2.83 gigawatt peak, providing strong visibility for the upcoming 12 to 15 months. Additionally, the company’s O&M portfolio stands at 1.18 gigawatt peak, reinforcing recurring revenue streams and long-term customer partnerships.
Strategic Outlook and BESS Integration
The company is strategically pivoting to capture emerging opportunities in the renewable energy sector, specifically through the Battery Energy Storage System (BESS) segment. Recognizing the importance of grid stability, the company is actively pursuing BESS EPC opportunities alongside its traditional solar installations. Despite land acquisition challenges in the sector, the company maintains its focus on ground-mounted solar projects and expects continued growth as it manages a massive pipeline of approximately 36 gigawatt under discussion.
IPP Asset Strategy
The company continues to pursue an asset-light model while maintaining a modest Independent Power Producer (IPP) portfolio. Currently, 54.8 megawatt peak is operational, with an additional 227 megawatt peak under development. This IPP segment is designed to provide stable, long-term revenue, supported by internal accruals without significant reliance on external debt.
Source: BSE
