Waaree Renewable Q3FY26 Revenue Jumps 136% YoY

20 Jan 2026 CW Team

Waaree Renewable Technologies Limited, the EPC arm of the Waaree Group, reported robust growth in its unaudited financial results for the quarter and nine months ended 31 December 2025, driven by strong execution and a healthy project pipeline.

In Q3FY26, revenue rose 136.18 per cent year-on-year to Rs 8.51 billion, while EBITDA increased 120.79 per cent to Rs 1.59 billion. Profit after tax (PAT) stood at Rs 1.20 billion, up 124.74 per cent compared to the same period last year.

For 9MFY26, revenue reached Rs 22.29 billion, surpassing the full-year FY25 performance and marking a YoY growth of 98.81 per cent. EBITDA rose 135.29 per cent to Rs 4.34 billion, with margins maintained at 19.48 per cent, while PAT increased 138.92 per cent to Rs 3.23 billion.

The company’s unexecuted order book stands at 2.92 GWp, to be executed over the next 12–15 months, supported by a robust bidding pipeline of around 29 GWp. Recent wins during Q3FY26 include ground-mounted solar projects of 217.5 MWp and 39.8 MWp. The Board has also approved capex for setting up a 120 MWp solar power park in Buldhana, Maharashtra.

“We are pleased to report revenues of Rs 8.51 billion in Q3FY26, reflecting strong year-on-year growth driven by execution excellence and financial discipline. With an unexecuted EPC order book of 2.92 GWp, we are well positioned to deliver large-scale solar projects while maintaining healthy cashflows, conservative leverage and strong governance standards,” said Manmohan Sharma, CFO, Waaree Renewable Technologies Limited.

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