Waaree Renewable gains as Q3 PAT soars 125% YoY to Rs 120 cr

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.

Powered by Capital Market - Live News