Waaree Renewable Technologies hits record Q2, H1 revenue

Waaree Renewable Technologies Limited announced its Q2 FY26 revenues from operations at Rs. 774.78 crores, a 47.73% increase year-on-year. EBITDA surged by 120.69% to Rs. 157.94 crores, with a margin of 20.39%. Net profit (PAT) for the quarter rose by 117.40% to Rs. 116.34 crores, marking the highest-ever quarterly performance.

For the first half of FY26, total revenue reached Rs. 1,377.97 crores, an 81.12% increase from H1 FY25. H1 EBITDA grew 144.56% to Rs. 275.48 crores, and PAT rose 148.21% to Rs. 202.73 crores. The company's unexecuted order book stands at 3.48 GWp, providing solid future visibility, with 1,621 MWp of EPC projects executed in H1 FY26, exceeding the full-year execution of FY25.

The company anticipates maintaining an EBITDA margin of over 15% for the current financial year due to operational efficiencies. It sees significant opportunities in the solar EPC segment, driven by ambitious national targets and policy tailwinds like the recent GST reduction on solar modules. Waaree is also actively exploring opportunities in Battery Energy Storage Systems (BESS) and data center EPC business.