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WAAREE RENEWABLE TECHNOLOGIES LIMITED — Earnings Release 2025
Apr 16, 2025
60949_rns_2025-04-16_a21b8472-8839-4bf2-89e6-4baa791c2968.pdf
Earnings Release
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Execution with Pace & Comfort
April 16, 2025
To The Manager BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai-400001 Scrip Code: 534618
To The Manager National Stock Exchange of India Limited Exchange Plaza, C-1 Block G, Bandra - Kurla Complex, Bandra (East) Mumbai - 400 051 Scrip Symbol: WAAREERTL
Sub.: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 — Press Release
Dear Sir / Madam,
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 please find enclosed herewith our Press Release on Financial Results for the Quarter and Financial Year ended March 31, 2025.
We request you to kindly take the above on record.
Thanking you,
Yours faithfully,
For Waaree Renewable Technologies Limited
HEEMA Digitally signed by HEEMA KALPESHKU KALPESHKUMAR SHAH Date: 2025.04.16 MAR SHAH 17:28:03 +05'30'
Heema Shah Company Secretary ACS 52919 Email Id: [email protected]
Waaree Renewable Technologies Limited
(A subsidiary of Waaree Energies Limited)
504, Western Edge-1, Off. Western Express Highway, Tel.: +91 22 6644 4444 CIN : L93000MH1999PLC120470 Borivali (E), Mumbai 400 066. Maharashtra INDIA E : [email protected] GST: 27AADCS 1824J2ZB W : www.waareertl.com
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WAAREE RENEWABLE TECHNOLOGIES LIMITED
Another Year of Strong Performance
Record Revenue growth of 82.29% YoY at Rs. 1,597.75 crores and Record PAT growth of 57.64% YoY at Rs. 228.92 crores
Unexecuted Orderbook of 3.2 GWp to be executed in next 12 to 15 months
April 16, 2025, Mumbai: Waaree Renewable Technologies Limited, the EPC arm of the Waaree Group, stands among the leading players in the solar EPC space. The company has further expanded into Battery Energy Storage Systems (BESS) and data centres. It has announced its audited financial results for the quarter and year ended March 31, 2025
CONSOLIDATED FINANCIAL HIGHLIGHTS – FY25
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Revenue from EBITDA PAT Operations Rs. 1,597.75 Crores Rs. 310.90 Crores Rs. 228.92 Crores +82.29% +50.06% +57.64% YoY YoY YoY
| In Rs Cr | Q4FY25 | Q4FY24 | Y-o-Y **Change ** |
FY25 | FY24 | Y-o-Y **Change ** |
|---|---|---|---|---|---|---|
| Revenue from Operations |
476.58 | 273.31 | 74.37% | 1,597.75 | 876.50 | 82.29% |
| EBITDA | 126.33 | 75.29 | 67.79% | 310.90 | 207.18 | 50.06% |
| EBITDA Margin | 26.51% | 27.55% | 19.46% | 23.64% | ||
| PAT | 93.77 | 51.31 | 82.73% | 228.92 | 145.22 | 57.64% |
| PAT Margin | 19.67% | 18.78% | 14.33% | 16.57% |
KEY PERFORMANCE HIGHLIGHTS
FY25
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Revenue for FY25 stood at Rs. 1,597.75 crores representing a growth of 82.29% YoY as compared to Rs. 876.50 crores in FY24
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EBITDA for FY25 stood at Rs. 310.90 crores as compared to Rs. 207.18 crores in FY24 representing a growth of 50.06% YoY
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PAT for FY25 stood at Rs. 228.92 crores as compared to Rs. 145.22 crores in FY24 representing a growth of 57.64% YoY
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Q4 FY25
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Revenue for Q4FY25 stood at Rs. 476.58 crores representing a growth of 74.37% YoY as compared to Rs. 273.31 crores in Q4FY24
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EBITDA for Q4FY25 stood at Rs. 126.33 crores as compared to Rs. 75.29 crores in Q4FY24 representing a growth of 67.79% YoY
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PAT for Q4FY25 stood at Rs. 93.77 crores as compared to Rs. 51.31 crores in Q4FY24 representing a growth of 82.73% YoY
Order book Position:
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Unexecuted order book stands at 3.2 GWp to be executed between 12-15 months
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oBidding pipeline remains robust at ~30 GWp
Key Updates
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Recent Order Wins
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255 MWp Ground Mounted Solar Power project, including O&M
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105 MWp Ground Mounted Solar Power
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40 MWh battery storage project
Commenting on the results Mr. Manmohan Sharma, CFO, Waaree Renewable Technologies Limited said:
“We are pleased to report a revenue of ₹1,597.75 crore for FY25, compared to ₹876.50 crore in FY24, reflecting an impressive growth of 82.29%, significantly outpacing India’s solar sector growth in the same period. This performance underlines the strength of our integrated business model, execution capabilities, and deep understanding of the renewable energy ecosystem.
As of March 2025, India’s total renewable energy capacity reached 220.10 GW, with solar contributing 105.65 GW. The government aims to achieve 500 GW of renewable energy by 2030, including 280 GW from solar, driving rapid sector growth and creating opportunities for expansion and innovation. This shift is being fueled by supportive policies and advances in clean energy technologies, along with rising demand in the C&I, utility-scale, and hybrid project segments.
Recognising the evolving needs of the energy landscape, we have expanded our capabilities into Battery Energy Storage System (BESS) EPC solutions, further strengthening our position as a comprehensive clean energy player, backed by a robust order book of 3.2 GW in Solar EPC and 40 MWh in BESS EPC, we are well-positioned to deliver large-scale, next-generation projects.
We remain well-positioned, operationally resilient, and committed to driving the energy transition with high-quality, sustainable solutions. With innovation and sustainability at the core of our business, we are confident in our ability to create long-term value for all stakeholders.”
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About Waaree Renewable Technologies Limited
Waaree Renewable Technologies Limited (WRTL) is subsidiary company of Waaree Group and spearheading the Solar EPC business. Waaree Group has successfully installed 10000+ solar projects with cumulative installation done for over 2.32 GW. We are also a solar developer that finances, constructs, owns and operates solar projects. Headquartered in Mumbai, we operate across geographies, focusing on long-term investments within the commercial and industrial customer segments. This subsidiary was formed to tap into the growing renewable energy market. Waaree group is a leading renewable energy company that caters Individual, Industrial and Commercial customers by encouraging them to adapt energy solutions that helps in reducing the release of carbon. The company provides clean energy to its clients by setting up both on-site solar projects (rooftop and ground-mounted) and off-site solar farms (open access solar plants).
For further information, please connect with us:
| Company: Waaree Renewable Technologies Limited | Investor Relations: |
|---|---|
| Mr. Rohit Wade General Manager-Investor Relations Email:[email protected] Website: www.waareertl.com |
Mr. Viral Sanklecha / Ms. Nidhi Vijaywargia Email:[email protected]/ [email protected] Tel: +91 99871 23158 / +91 99234 50804 |
Safe Harbour
This document is to provide the general background information about the Company’s activities as at the date of the release. The information contained herein is for general information purposes only and based on estimates and should not be considered as a recommendation that any investor should subscribe / purchase the company shares. The Company makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information contained herein. This release may include certain forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. These statements can be recognized by the use of words such as ''expects", "plans", 'will", "estimates", "projects", or other words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those in such forward-looking statements as a result of various factors and assumptions which the Company believes to be reasonable in light of its operating experience in recent years. The risks and uncertainties relating to these statements include, but not limited to, risks and uncertainties, regarding fluctuations in earnings, our ability to manage growth, competition, our ability to manage our international operations, government policies, regulations, etc. The Company does not undertake any obligation to revise or update any forward-looking statement that may be made from time to time by or on behalf of the Company including to reflect actual results, changes in assumptions or changes in factors affecting these statements. Given these risks, uncertainties and other factors, viewers of this release are cautioned not to place undue reliance on these forward-looking statements. This release may contain certain currency exchange rates and the same have been provided only for the convenience of readers.
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