Waaree Renewable Tech tumbles after Q2 PAT drops 30% YoY to Rs 753 cr
Profit before tax (PBT) tumbled 32.71% YoY to Rs 105.36 crore in Q2 FY27.
EBITDA rose marginally by 1.29% to Rs 159.98 crore in Q2 FY27, compared with Rs 157.95 crore in Q2 FY26. However, EBITDA margin contracted to 15.12% from 20.39% in the corresponding quarter last year.
The company reported a consolidated unexecuted order book exceeding Rs 5,500 crore during the quarter. Its bidding pipeline remained robust, comprising over 34.6 GWp of solar projects, more than 12.5 GWh of battery energy storage systems (BESS) and approximately Rs 21,900 crore worth of transmission and distribution (T&D) opportunities.
For the first half of FY27, consolidated net profit declined 1.14% to Rs 200.44 crore from Rs 202.75 crore in H1 FY26. Revenue from operations surged 43.84% YoY to Rs 1,982.09 crore, compared with Rs 1,377.97 crore in the year-ago period.
Manmohan Sharma, CFO, Waaree Renewable Technologies, said, ?We are pleased to report yet another quarter of healthy performance, with revenue from operations for Q2 FY27 standing at Rs 1,057.84 crore, reflecting a growth of 36.53% year-on-year. For H1 FY27, revenue from operations stood at Rs 1,982.09 crore, registering a growth of 43.84% over the corresponding period last year. The growth during the quarter was driven by steady progress across our project portfolio, timely execution, and our expanding capabilities across the renewable energy value chain and T&D segment. This performance was strengthened by our strategic acquisition of APSPL which consolidated our position across T&D infrastructure value chain.?
While acquisition-related financing costs and the addition of business with a different margin profile have influenced in near-term profitability, our focus remains firmly on creating long-term value through greater scale, diversified capabilities and operational efficiencies. We believe this expansion provides a strong foundation for the next phase of WRTL?s growth journey.
The government?s policy support is also getting stronger. The recently approved Green Energy Corridor Phase-III targets the evacuation of up to 135 gigawatts of renewable energy, along with 50 gigawatt-hours of battery energy storage, by FY2032-33. Alongside this, the Pradhan Mantri Surya Sarovar Yojana plans 5 gigawatt-hours of floating solar. Together, these highlight the government?s clear commitment to clean energy. These developments are expanding opportunities across renewable generation, storage and T&D infrastructure. These are the areas where we continue to strengthen our capabilities and market presence.?
Waaree Renewable Technologies (WRTL) is subsidiary company of Waaree Group and spearheading the Solar EPC business. The Mumbai-based company also develops, finances, constructs, owns and operates solar power projects, catering primarily to commercial and industrial customers. It provides renewable energy solutions through on-site rooftop and ground-mounted solar installations, as well as off-site solar farms.
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