Waaree Renewable Technologies Ltd (WRTL) delivered impressive financial results for the June quarter, with consolidated net profit rising 34% year-on-year to ₹116 crore compared to ₹86 crore in the corresponding quarter last year. The EPC arm of the Waaree Group reported revenue from operations of ₹924 crore, representing a 53.23% increase compared to ₹603 crore in Q1 FY26. The company's EBITDA grew 48% to ₹173 crore from ₹117 crore in the corresponding quarter of the previous year, though the EBITDA margin compressed to 18.77% from 19.49% a year ago. The strong top-line growth reflects continued execution of solar EPC projects and increasing demand for renewable energy infrastructure across India.
Despite strong annual growth, Waaree Renewable shares fell 7% to ₹951 following the quarterly results announcement, marking the stock's lowest level since June 12. According to The Economic Times, the stock was trading 5.73% lower at ₹951 per equity share as of Thursday. Revenue from operations declined 16.16% quarter-on-quarter to ₹924 crore in Q1 FY27, while consolidated net profit fell 26% sequentially to ₹116 crore from ₹157 crore in Q4 FY26. However, on a year-on-year basis, the company maintained robust growth momentum with profit before tax (PBT) standing at ₹163.39 crore, up 40.16% from the year-ago period, reflecting improved operational performance despite sequential challenges.
The company maintained a strong order book position with its consolidated unexecuted order book standing at more than ₹5,300 crore at the end of the quarter. As reported by The Economic Times, WRTL's bidding pipeline includes more than 37 GWp of solar projects, over 10 GWh of battery energy storage system (BESS) projects, and transmission and distribution opportunities worth more than ₹20,000 crore. During the quarter, the company secured significant new orders including a 1,520 MWh BESS order and a 450 MWp ground-mounted solar power project. The company completed the acquisition of a 55% stake in Associated Power Structures Pvt. Ltd. to strengthen its capabilities in transmission and distribution. CFO Manmohan Sharma stated that this acquisition "strengthens our capabilities in transmission and distribution (T&D), enabling us to offer integrated solutions while continuing to expand our renewable EPC business in a disciplined and scalable manner."
Waaree Renewable shares have delivered massive returns of more than 2,870% over the past five years but have fallen over 14% in one year. According to The Economic Times, the stock has gained more than 9% in six months but is down 3% in one month and 5% in the past five days. The stock currently has a market capitalisation of ₹10,015 crore as of the latest data. CFO Manmohan Sharma noted that "despite these headwinds, we are pleased to begin FY27 on a strong note, with consolidated revenue for Q1 FY27 at ₹924.25 crores compared to ₹603.19 crore in Q1 FY26, reflecting a robust growth of 53.23%." The company remains confident in its long-term growth strategy, focusing on disciplined execution, operational excellence, and delivering sustainable value to stakeholders.
