Waaree Renewable Q1 FY26 Results: Net Profit Soars 208%, Revenue Rises 155% — Check EBITDA, Total Income & More

Waaree Renewable Technologies Q1 FY26 Results: Waaree Renewable Technologies Ltd. announced its financial results for the quarter ended June 30, 2025 (Q1 FY26), showing significant year-on-year growth in revenue and profit. 

The company reported a net profit for Q1 FY26 that came in at Rs 86.44 crore, up from Rs 28.03 crore in Q1 FY25, marking a 208% year-on-year growth. The company’s earnings per share (EPS) rose to Rs 8.29 (basic) from Rs 2.72 in the same quarter last year.

Waaree Renewable Technologies: Revenue From Operations

Total income of Rs 608.01 crore in Q1 FY26, compared to Rs 236.35 crore in the same quarter last year (Q1 FY25), marking a growth of 157%. The main revenue driver was the EPC contracts segment, which contributed Rs 594.39 crore, a substantial rise from Rs 228.65 crore in Q1 FY25—an increase of 160%.

In Q1 FY26, Waaree Renewables Technologies Ltd. reported a revenue from operations of Rs 603.18 crore, compared to Rs 236.35 crore in Q1 FY25. This reflects a year-on-year growth of 155% in revenue from operations. Revenue from power sales also improved modestly to Rs 8.79 crore, from Rs 7.70 crore in the year-ago period, showing a 14.2% increase.

Waaree Renewable Technologies: EBITDA

The company also reported a strong year-on-year growth in EBITDA for the first quarter of FY26. EBITDA for Q1FY26 stood at Rs 117.54 crores as compared to Rs 41.08 crores in Q1FY25, representing a growth of 186% YoY

Total expenses rose to Rs 491.44 crore in Q1 FY26, up from Rs 193.84 crore in Q1 FY25, reflecting a 153% increase due to higher EPC-related costs and employee benefit expenses as the company scaled up operations.

Profit before tax (excluding exceptional items) for the quarter stood at Rs 116.57 crore, significantly higher than Rs 39.27 crore in Q1 FY25—a growth of 197%. The company did not report any exceptional items in Q1 FY26, whereas the same was true for Q1 FY25.

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Segment-Wise Results 

Segment-wise, total segment results (before finance costs and unallocable items) reached Rs 115.30 crore in Q1 FY26, compared to Rs 39.54 crore in Q1 FY25—an increase of 192%. Finance costs rose slightly from Rs 3.03 crore to Rs 3.56 crore over the same period. Tax expenses also increased in line with profits, from Rs 10.12 crore last year to Rs 28.77 crore this quarter.

On the balance sheet, the company reported a total asset base of Rs 1,241.92 crore as of June 30, 2025, compared to Rs 876.36 crore a year ago—a rise of 41.7%. Assets from the EPC segment grew to Rs 859.06 crore (from Rs 619.77 crore), while power segment assets rose to Rs 288.91 crore (from Rs 256.88 crore).

Total liabilities increased to Rs 700.49 crore from Rs 602.84 crore in the year-ago period.

Waaree Renewables has an unexecuted order book of 3.15 GWp, expected to be completed over the next 12 to 15 months, and a strong bidding pipeline of over 25 GWp.