Waaree Renewable Technologies Limited has reported exceptional financial results for the full fiscal year 2026, driven by a massive increase in solar project execution. The company achieved a remarkable 108.51% growth in revenue, reaching Rs. 3,331.42 crore. With a strong 19.24% EBITDA margin and a 109.09% surge in profit after tax to Rs. 478.65 crore, the company continues to demonstrate robust operational success in the solar EPC sector.
Record-Breaking Financial Growth
The fiscal year 2026 was a landmark year for Waaree Renewable Technologies, characterized by consistent operational scaling and high-value project delivery. The company reported annual revenue from operations of Rs. 3,331.42 crore, a significant leap from the Rs. 1,597.75 crore reported in the previous year. This performance highlights a revenue CAGR of 111.73% between FY23 and FY26, underscoring the company’s aggressive expansion strategy.
Operational Efficiency and Profitability
Profitability saw significant gains, with Profit After Tax (PAT) climbing to Rs. 478.65 crore for FY26, compared to Rs. 228.92 crore in FY25. The company maintained strong operational efficiency, reporting an annual EBITDA of Rs. 641.10 crore with a steady EBITDA margin of 19.24%. Return on Equity (ROE) stands at a robust 68.93%, indicating strong value creation for shareholders.
Project Execution and Market Expansion
The company continues to bolster its presence in the renewable energy sector, with an unexecuted order book of 2,832 MWp. Notable milestones in the past fiscal year include winning large-scale ground-mounted projects, such as the 1,000 MWp and 435 MWp orders won earlier in the year. The firm’s capability now spans across the entire solar spectrum, including utility-scale projects, rooftop installations, and floating solar, supported by a 1,180 MWp O&M portfolio.
Strategic Outlook
Waaree Renewable Technologies is well-positioned for future growth by leveraging its 35 years of industry experience and its integration within the Waaree Group ecosystem. The firm is actively diversifying its energy transition strategy, focusing on high-growth segments including green hydrogen, BESS (Battery Energy Storage Systems), and pumped hydro. By continuing to expand its international and domestic EPC footprint, the company aims to sustain its growth trajectory amidst a supportive policy environment for renewable energy in India.
Source: BSE
