Waaree Renewable Technologies Limited Reports Explosive FY26 Results: Net Profit Doubles to ₹478 Crore

Waaree Renewable Technologies Limited (WRTL), a subsidiary of the Waaree Group and a leader in the Solar EPC (Engineering, Procurement, and Construction) sector, has announced its audited consolidated financial results for the year ended March 31, 2026. The company has delivered a landmark performance, with revenue and profitability scaling to new heights amid India's green energy transition.

Annual Financial Highlights (FY26)

The company witnessed a massive surge in project execution and operational scale over the fiscal year:

Total Revenue from Operations: Skyrocketed to ₹3,33,142.22 lakh (₹3,331.4 crore), a staggering 108% increase over the ₹1,59,774.79 lakh reported in FY25.

Net Profit (PAT): More than doubled to ₹47,863.59 lakh (₹478.6 crore), compared to ₹22,892.47 lakh in the previous fiscal year.

Operating Profit (EBITDA): Profit before tax surged to ₹63,961.02 lakh, reflecting robust margins in high-scale solar projects.

Earnings Per Share (EPS): Basic EPS for the year jumped to ₹45.91, up from ₹22.00 in FY25.

Q4 FY26 Performance Analysis

The fourth quarter marked the company's strongest-ever quarterly performance:

Quarterly Revenue: Stood at ₹1,10,239.65 lakh, representing a 30% sequential growth over the December 2025 quarter and a 131% increase year-on-year.

Quarterly Net Profit: Reported at ₹15,570.74 lakh, driven by the accelerated completion of large-scale EPC contracts.

Operational Metrics and Cost Structure

EPC Contract Costs: As the primary driver of the business, the cost of EPC contracts for the year was ₹2,60,551.22 lakh.

Finance Costs: Reduced to ₹1,328.83 lakh for the year, indicating efficient capital management despite the massive increase in project scale.

Employee Benefits: Increased to ₹4,895.85 lakh, reflecting the expansion of technical and on-site teams to handle a larger project pipeline.

Balance Sheet Strength

The company's net worth saw a significant boost, with Other Equity rising to ₹91,295.60 lakh as of March 31, 2026, compared to ₹43,470.14 lakh in the previous year. This provides Waaree Renewable with substantial leverage to bid for upcoming mega-scale solar tenders and international projects.

Commenting on the results Mr. Manmohan Sharma, CFO, Waaree Renewable Technologies Limited said: "We are pleased to conclude FY26 with a stellar and consistent financial performance with revenue of ₹3,331.42 crore as compared to ₹1,597.75 crore for FY25, reflecting a robust growth of 108.51%. This performance was supported by disciplined execution thus enabling consistent delivery.

India's renewable energy sector continues to build strong momentum with total installed renewable capacity crossing 274 GW while solar contributed over 150 GW as of March 2026. During FY26, solar additions rose sharply to over 44 GW, compared to ~24 GW in the previous year marking a significant jump over last year. In FY26, solar accounted for approximately 82% of total renewable capacity additions and firmly establishing solar as the primary driver of India's clean energy transition.

Supported by a robust unexecuted EPC order book of 2.83 GWp, WRTL continues to have strong visibility of project execution. Our focus on disciplined delivery, supported by O&M capabilities and operational efficiency, while consistently creating value for our stakeholders within India's evolving renewable energy landscape."

Source : Equity Bulls

Keywords

WaareeRenewableTechnologies WRTL Q4FY26 Q4FY2026 FY26 FY2026 ResultUpdate