18-07-2025
Waaree Renewable Tech share price spikes another 5% after Q1 net profit surges 3-fold
Waaree Renewable Technologies, the solar EPC subsidiary of Waaree Group, saw its shares jump another 5% intraday on Friday, July 18, to reach 1,240 ₹ apiece, which came in response to the company's healthy performance in the June quarter.
The company, on Thursday, reported a net profit of ₹ 86 crore in Q1FY26, a 207% increase compared to ₹ 28 crore in the same period last year, while the revenue from operations came in at ₹ in at ₹ 603 crore, compared to ₹ 236.35 crore in Q1 FY25, which is a 155% YoY growth.
Looking at the segment wise performance, its revenue from its EPC contracts, which contributes over 95% of the company's total revenue, surged to ₹ 594.3 crore in Q1 FY25 from ₹ 228 crore in the same period last year, while power sales revenue also rose sharply to ₹ 9 crore, compared to ₹ 2.3 crore a year ago, as per the company's earnings' filing.
On the operating front, the company reported EBITDA of ₹ 117.54 crore for the quarter, marking a significant jump from ₹ 41 crore in Q1 FY25. EBITDA margin expanded to 19.5% from 17.4%, reflecting improved operating efficiency.
The company's unexecuted order book at the end of the quarter stood at 3.15 GWp, which it expects to execute over the next 12–15 months.
The bidding pipeline remains robust at over 25 GWp. In terms of recent wins, the company secured a 435 MWp ground-mounted solar power project and a 131.6 MWp ground-mounted solar power project, both awarded in the first quarter of FY26.
Commenting on the results, Mr. Manmohan Sharma, CFO, Waaree Renewable Technologies Limited, said, In response to the expanding renewable energy capacity, we have broadened our portfolio to include Battery Energy Storage System (BESS) EPC solutions, reinforcing our position as a full-spectrum clean energy provider. With a strong order book of 3.15 GWp in Solar EPC and 40 MWh in BESS EPC, we are well-equipped to deliver next-generation, large-scale integrated energy projects."
