Newsletter
Waaree Renewable lit up the September quarter with its best-ever performance, thanks to sizzling project execution and fatter margins. The stock ended more than 2% on Friday.
By the numbers:
- Revenue up nearly 48% YoY at ₹774.8 crore.
- Profit jumped 117% YoY at ₹116.3 crore.
- Order book saw a solid 3.48 GWp of solar projects waiting to be executed in the next 12–15 months.
The company also bagged 1.25 GWp of fresh solar orders this quarter and cleared plans for new solar power plants in Maharashtra and Rajasthan.
Why it matters: the result is not a one-quarter wonder, it’s part of a steady climb. The company has been consistently bagging and delivering large solar EPC projects, proving its ability to scale without losing efficiency. Its ₹3.48 GWp order book and a 27 GWp bidding pipeline show that momentum is firmly in place.
Looking ahead, Waaree is doubling down on expansion including setting up new solar power plants & exploring independent power producer (IPP) opportunities.
With India’s renewable capacity racing toward the 500 GW mark by 2030, Waaree is positioning itself not just as a contractor, but as a long-term partner in India’s clean energy transition.
