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For the full year,net profit rose 108.89% to Rs 478.70 crore in the year ended March 2026 as against Rs 229.16 crore during the previous year ended March 2025. Sales rose 108.51% to Rs 3331.42 crore in the year ended March 2026 as against Rs 1597.75 crore during the previous year ended March 2025.
EBITDA stood at Rs 206.82 crore in Q4 FY26, registering the growth of 63.71% compared with Rs 126.33 crore in Q4 FY25. EBITDA margin contracted to 18.76% during the quarter as against 26.51% in Q4 FY25.
On the order book front, the company said its unexecuted order book stood of 2.83 GWp is slated for execution over next 12-15 months. The bidding pipeline continued to witness strong momentum, reaching over 36 GWp.
On annual basis, the company’s consolidated net profit surged 108.9% to Rs 478.70 crore on 108.5% jump in revenue from operations to Rs 3,331.42 crore in FY26 over FY25.
Manmohan Sharma, CFO, Waaree Renewable Technologies, said, “We are pleased to conclude FY26 with a stellar and consistent financial performance with revenue of Rs 3,331.42 crore as compared to Rs 1,597.75 crore for FY25, reflecting a robust growth of 108.51%. This performance was supported by disciplined execution thus enabling consistent delivery.
India’s renewable energy sector continues to build strong momentum with total installed renewable capacity crossing 274 GW while solar contributed over 150 GW as of March 2026. During FY26, solar additions rose sharply to over 44 GW, compared to ~24 GW in the previous year marking a significant jump over last year. In FY26, solar accounted for approximately 82% of total renewable capacity additions and firmly establishing solar as the primary driver of India’s clean energy transition.
Supported by a robust unexecuted EPC order book of 2.83 GWp, WRTL continues to have strong visibility of project execution. Our focus on disciplined delivery, supported by O&M capabilities and operational efficiency, while consistently creating value for our stakeholders within India’s evolving renewable energy landscape.”
Waaree Renewable Technologies (WRTL) is a subsidiary company of the Waaree Group and is spearheading the Solar EPC business. The company also operates as a solar developer, engaged in financing, constructing, owning, and operating solar power projects. It has a presence across multiple geographies and focuses on long-term investments within the commercial and industrial customer segments.
Nava Ltd, Waaree Renewable Technologies Ltd, Gujarat State Petronet Ltd and Ircon International Ltd are among the other gainers in the BSE's 'A' group today, 17 April 2026.
MMTC Ltd soared 13.84% to Rs 70.47 at 11:47 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 16.37 lakh shares were traded on the counter so far as against the average daily volumes of 3.48 lakh shares in the past one month.
Nava Ltd spiked 13.55% to Rs 711.55. The stock was the second biggest gainer in 'A' group. On the BSE, 4.35 lakh shares were traded on the counter so far as against the average daily volumes of 23574 shares in the past one month.
Waaree Renewable Technologies Ltd surged 9.82% to Rs 1163.3. The stock was the third biggest gainer in 'A' group. On the BSE, 14.06 lakh shares were traded on the counter so far as against the average daily volumes of 63438 shares in the past one month.
Gujarat State Petronet Ltd spurt 8.51% to Rs 274.25. The stock was the fourth biggest gainer in 'A' group. On the BSE, 7.67 lakh shares were traded on the counter so far as against the average daily volumes of 46095 shares in the past one month.
Ircon International Ltd rose 8.39% to Rs 154.35. The stock was the fifth biggest gainer in 'A' group. On the BSE, 17.52 lakh shares were traded on the counter so far as against the average daily volumes of 3.79 lakh shares in the past one month.
The board of Waaree Renewable Technologies at its adjourned meeting held on 26 January 2026, has, inter alia, considered and approved to enter into a binding term sheet for acquisition of ~55% of the stake in the equity share capital of Associated Power Structures (ASPL) for a total consideration of Rs 1,225 crore mix of primary & secondary, subject to completion of due diligence and customary closing conditions.
Associated power Structures established in 1996, is in the business of Power transmission and distribution into infrastructure sector. Further, pursuant to the above acquisition of shares, Associated Power Structures will become a subsidiary of the Company.
Revenue from operations zoomed 136.18% year on year (YoY) to Rs 851.06 crore in Q3 FY26 over Q3 FY25
Profit before tax (PBT) soared 123.92% to Rs 158.38 crore in Q3 FY26 compared with Rs 70.73 crore posted in corresponding quarter last year.
EBITDA stood at Rs 158.80 crore in Q3 FY26, registering the growth of 120.79% compared with Rs 71.92 crore in Q3 FY25. EBITDA margin reduced to 18.66% in Q3 FY26 as against 19.96% in Q3 FY25.
Waaree Renewable’s unexecuted order book stands at 2.92 GWp, expected to be executed over the next 12-15 months, while its bidding pipeline remains robust at around 29 GWp.
The company secured 217.5 MWp and 39.8 MWp ground-mounted solar power projects in Q3 FY26.
Additionally, the board has approved the capex budget for setting up a 120 MWp solar power park in Buldhana, Maharashtra.
Waaree Renewable reported a strong 9MFY26 performance, with revenue rising 98.81% YoY to Rs 2,229.03 crore from Rs 1,121.17 crore in 9M FY25, surpassing its FY25 performance. PAT rose 138.92% YoY to Rs 322.93 crore, up from Rs 135.16 crore in the same period last year.
EBITDA grew 135.29% YoY to Rs 434.28 crore, with margins at 19.48%, compared with Rs 184.57 crore in 9M FY25.
Manmohan Sharma, CFO, Waaree Renewable Technologies, said: “We are pleased to report revenues of Rs. 851.06 crores in Q3 FY26, compared to Rs. 360.35 crores in Q3 FY25, reflecting YoY growth of 136.18%. Our margin for this performance resonates our execution excellence, financial discipline and robust operating model.
India’s renewable energy sector continues to gain momentum, with over 30 GW of solar capacity added in the first nine months of FY26 which already surpasses the last year’s full-year addition. Cumulative solar installations now stand at ~135 GW, while total non-fossil fuel capacity has reached ~267 GW, accounting for more than half of India’s installed renewable capacity.
With an unexecuted EPC orderbook of 2.92 GWp, WRTL is positioned to deliver large-scale solar projects also ensuring long-term performance through integrated O&M services. India’s energy transition is not only about expanding capacity but also about embedding resilience and efficiency. We also strengthened our financial position through focus on operational efficiency and prudent capital allocation. We remain committed to maintaining healthy cashflows, conservative leverage and strong governance standards. Looking ahead, we will continue to strengthen capabilities, invest in innovation, and expand partnerships to capture emerging opportunities in the renewable ecosystem.”
Waaree Renewable Technologies Limited (WRTL) is subsidiary company of Waaree Group and spearheading the Solar EPC business. We are also a solar developer that finances, constructs, owns and operates solar projects. Headquartered in Mumbai, we operate across geographies, focusing on longterm investments within the commercial and industrial customer segments.
The company said the project is scheduled to be completed in FY27 as per the terms of the order. It added that the order has been awarded by a domestic entity and does not fall under related-party transactions.
Waaree Renewable Technologies, based in Mumbai, is a subsidiary of the Waaree Group and leads the group’s Solar EPC operations. In addition to engineering, procurement, and construction, the company develops, finances, builds, owns, and operates solar power projects as part of its long-term investment approach.
The company’s consolidated net profit surged 117.2% to Rs 116.30 crore on 47.7% jump in net sales to Rs 774.78 crore in Q2 FY26 over Q2 FY25.
Shares of Waaree Renewable Technologies fell 1.89% to Rs 988 on the BSE.
Waaree Renewable Technologies has been awarded Letter of Award (LOA) for the execution of Engineering, Procurement and Construction (EPC) works of Ground Mount Solar Power Project of 25MWac/35MWp on a turnkey basis along with Evacuation Infrastructure of 50MW. The contract, valued at Rs 102.75 crore, is placed by one of the largest manufacturers of pig iron and castings & seamless tubes.